GCM Grosvenor (NASDAQ:GCMG) Stock Rating Lowered by Wall Street Zen

GCM Grosvenor (NASDAQ:GCMG) was downgraded by stock analysts at Wall Street Zen from a “buy” rating to a “hold” rating in a research report issued on Saturday, Wall Street Zen reports.

Several other research analysts have also recently issued reports on the company. Weiss Ratings raised GCM Grosvenor from a “buy (b-)” rating to a “buy (b)” rating in a research note on Thursday, August 13th. Oppenheimer cut their price objective on shares of GCM Grosvenor from $18.00 to $17.00 and set an “outperform” rating on the stock in a research note on Friday, July 17th. Piper Sandler upped their price objective on shares of GCM Grosvenor from $15.00 to $16.00 and gave the stock an “overweight” rating in a report on Tuesday, August 11th. Finally, JPMorgan Chase & Co. upped their price objective on shares of GCM Grosvenor from $12.00 to $13.00 and gave the stock a “neutral” rating in a report on Tuesday, August 11th. Four investment analysts have rated the stock with a Buy rating and one has given a Hold rating to the company. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $15.00.

GCM Grosvenor Price Performance

GCMG opened at $13.20 on Friday. GCM Grosvenor has a 12 month low of $9.30 and a 12 month high of $14.87. The company has a debt-to-equity ratio of 2.96, a current ratio of 1.89 and a quick ratio of 1.89. The stock has a market cap of $2.68 billion, a P/E ratio of 25.39 and a beta of 0.87. The stock’s 50 day moving average price is $13.29 and its 200 day moving average price is $12.03.

GCM Grosvenor (NASDAQ:GCMG) last announced its earnings results on Monday, August 10th. The company reported $0.19 earnings per share for the quarter, beating the consensus estimate of $0.18 by $0.01. The firm had revenue of $134.34 million for the quarter, compared to the consensus estimate of $131.21 million. GCM Grosvenor had a return on equity of 142.74% and a net margin of 7.79%. As a group, research analysts predict that GCM Grosvenor will post 0.70 earnings per share for the current year.

Insider Activity at GCM Grosvenor

In related news, CFO Pamela Bentley sold 10,000 shares of the business’s stock in a transaction that occurred on Wednesday, September 16th. The stock was sold at an average price of $12.68, for a total transaction of $126,800.00. Following the sale, the chief financial officer owned 14,397 shares of the company’s stock, valued at $182,553.96. The trade was a 40.99% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Kathleen Sullivan sold 15,037 shares of the business’s stock in a transaction that occurred on Thursday, September 3rd. The stock was sold at an average price of $13.16, for a total value of $197,886.92. Following the sale, the insider directly owned 44,795 shares in the company, valued at approximately $589,502.20. The trade was a 25.13% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last three months, insiders have sold 90,000 shares of company stock worth $1,155,350. 70.70% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On GCM Grosvenor

Several hedge funds have recently modified their holdings of GCMG. Dimensional Fund Advisors LP grew its holdings in GCM Grosvenor by 17.4% during the first quarter. Dimensional Fund Advisors LP now owns 823,520 shares of the company’s stock worth $8,070,000 after acquiring an additional 122,110 shares during the period. North Reef Capital Management LP raised its position in GCM Grosvenor by 4.8% in the first quarter. North Reef Capital Management LP now owns 630,179 shares of the company’s stock worth $6,176,000 after acquiring an additional 28,824 shares in the last quarter. Arrowstreet Capital Limited Partnership raised its position in GCM Grosvenor by 9.1% in the first quarter. Arrowstreet Capital Limited Partnership now owns 459,360 shares of the company’s stock worth $4,502,000 after acquiring an additional 38,338 shares in the last quarter. Bank of New York Mellon Corp lifted its holdings in GCM Grosvenor by 6.3% in the 1st quarter. Bank of New York Mellon Corp now owns 348,522 shares of the company’s stock valued at $3,416,000 after acquiring an additional 20,682 shares during the last quarter. Finally, North Star Investment Management Corp. lifted its holdings in GCM Grosvenor by 41.3% in the 1st quarter. North Star Investment Management Corp. now owns 297,518 shares of the company’s stock valued at $2,916,000 after acquiring an additional 87,000 shares during the last quarter. 99.95% of the stock is currently owned by institutional investors and hedge funds.

GCM Grosvenor Company Profile

GCM Grosvenor is a global alternative asset management firm that provides investment solutions for institutional investors, family offices, financial intermediaries and other qualified investors. The company manages portfolios across private equity, infrastructure, real estate, absolute return strategies and other alternative investments.

Its offerings include customized multi-strategy portfolios, direct and secondary investments, co-investments and specialized strategies designed to provide access to private markets and alternative sources of return.