GCM Grosvenor (NASDAQ:GCMG) Sets New 52-Week High at $9.71

GCM Grosvenor Inc. (NASDAQ:GCMG) hit a new 52-week high during trading on Friday . The stock traded as high as $9.71 and last traded at $9.63, with a volume of 4622 shares. The stock had previously closed at $9.62.

Wall Street Analyst Weigh In

A number of equities research analysts recently weighed in on the company. Oppenheimer dropped their price target on GCM Grosvenor from $13.00 to $12.00 and set an “outperform” rating on the stock in a research note on Wednesday, February 14th. UBS Group increased their price objective on shares of GCM Grosvenor from $9.00 to $9.50 and gave the company a “neutral” rating in a research report on Friday, April 12th. Finally, TD Cowen raised shares of GCM Grosvenor from a “market perform” rating to an “outperform” rating and lifted their target price for the stock from $9.50 to $10.00 in a report on Friday, February 16th.

GCM Grosvenor Price Performance

The firm’s 50-day simple moving average is $9.11 and its 200 day simple moving average is $8.74. The firm has a market capitalization of $1.81 billion, a price-to-earnings ratio of -33.38 and a beta of 0.51.

GCM Grosvenor (NASDAQ:GCMG) last released its quarterly earnings results on Tuesday, February 13th. The company reported $0.08 earnings per share for the quarter, missing the consensus estimate of $0.16 by ($0.08). The firm had revenue of $116.56 million for the quarter, compared to the consensus estimate of $127.29 million. GCM Grosvenor had a negative return on equity of 76.61% and a net margin of 2.87%. As a group, research analysts predict that GCM Grosvenor Inc. will post 0.54 earnings per share for the current year.

GCM Grosvenor Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, March 15th. Stockholders of record on Friday, March 1st were paid a $0.11 dividend. This represents a $0.44 dividend on an annualized basis and a dividend yield of 4.55%. The ex-dividend date was Thursday, February 29th. GCM Grosvenor’s dividend payout ratio is -151.72%.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of the stock. GSA Capital Partners LLP bought a new stake in GCM Grosvenor during the 1st quarter worth approximately $873,000. Wasatch Advisors LP grew its holdings in GCM Grosvenor by 111.5% during the first quarter. Wasatch Advisors LP now owns 2,342,156 shares of the company’s stock worth $22,625,000 after buying an additional 1,234,505 shares in the last quarter. Quadrature Capital Ltd purchased a new stake in GCM Grosvenor in the 4th quarter valued at $117,000. Russell Investments Group Ltd. raised its position in GCM Grosvenor by 65.0% in the 4th quarter. Russell Investments Group Ltd. now owns 550,655 shares of the company’s stock valued at $4,934,000 after buying an additional 216,964 shares during the last quarter. Finally, New York State Common Retirement Fund lifted its stake in GCM Grosvenor by 30.3% during the 4th quarter. New York State Common Retirement Fund now owns 9,951 shares of the company’s stock valued at $89,000 after acquiring an additional 2,312 shares in the last quarter. 99.95% of the stock is owned by institutional investors.

About GCM Grosvenor

GCM Grosvenor Inc is global alternative asset management solutions provider. The firm primarily provides its services to pooled investment vehicles. It also provides its services to investment companies, high net worth individuals, pension and profit sharing plans and state or municipal government entities.