GCM Grosvenor (NASDAQ:GCMG) Stock Crosses Above 50 Day Moving Average – Here’s Why

GCM Grosvenor Inc. (NASDAQ:GCMG) shares crossed above its 50-day moving average during trading on Monday. The stock has a 50-day moving average of $12.94 and traded as high as $13.29. GCM Grosvenor shares last traded at $12.96, with a volume of 306,297 shares traded.

Wall Street Analysts Forecast Growth

Several equities research analysts recently commented on the company. Piper Sandler dropped their target price on GCM Grosvenor from $16.00 to $14.50 and set an “overweight” rating on the stock in a report on Monday, October 19th. Weiss Ratings raised GCM Grosvenor from a “buy (b-)” rating to a “buy (b)” rating in a research report on Thursday, August 13th. Wall Street Zen lowered GCM Grosvenor from a “buy” rating to a “hold” rating in a research report on Saturday, October 10th. Oppenheimer reduced their target price on GCM Grosvenor from $18.00 to $17.00 and set an “outperform” rating for the company in a research note on Friday, July 17th. Finally, JPMorgan Chase & Co. raised their price target on shares of GCM Grosvenor from $12.00 to $13.00 and gave the stock a “neutral” rating in a research 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’s stock. According to data from MarketBeat, GCM Grosvenor currently has an average rating of “Moderate Buy” and an average price target of $14.62.

GCM Grosvenor Trading Up 2.5%

The stock has a market cap of $2.63 billion, a price-to-earnings ratio of 24.92 and a beta of 0.87. The firm’s 50 day moving average is $12.94 and its two-hundred day moving average is $11.88. The company has a quick ratio of 1.89, a current ratio of 1.89 and a debt-to-equity ratio of 2.96.

GCM Grosvenor (NASDAQ:GCMG) last posted its earnings results on Monday, August 10th. The company reported $0.19 EPS for the quarter, beating the consensus estimate of $0.18 by $0.01. The company had revenue of $134.34 million during the quarter, compared to analyst estimates of $131.21 million. GCM Grosvenor had a return on equity of 142.74% and a net margin of 7.79%. Equities analysts anticipate that GCM Grosvenor Inc. will post 0.69 EPS for the current year.

GCM Grosvenor Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, September 15th. Investors of record on Tuesday, September 1st were issued a $0.12 dividend. The ex-dividend date of this dividend was Tuesday, September 1st. This represents a $0.48 annualized dividend and a dividend yield of 3.7%. GCM Grosvenor’s dividend payout ratio (DPR) is 92.31%.

Insider Buying and Selling

In other GCM Grosvenor news, insider Kathleen Sullivan sold 24,963 shares of the stock in a transaction on Wednesday, September 2nd. The stock was sold at an average price of $13.15, for a total value of $328,263.45. Following the sale, the insider directly owned 59,832 shares of the company’s stock, valued at $786,790.80. This trade represents a 29.44% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CFO Pamela L. Bentley sold 40,000 shares of the stock in a transaction on Tuesday, September 15th. The stock was sold at an average price of $12.56, for a total value of $502,400.00. Following the completion of the sale, the chief financial officer directly owned 24,397 shares in the company, valued at $306,426.32. This represents a 62.11% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 90,000 shares of company stock valued at $1,155,350 in the last 90 days. Insiders own 70.70% of the company’s stock.

Hedge Funds Weigh In On GCM Grosvenor

Hedge funds and other institutional investors have recently modified their holdings of the company. Dimensional Fund Advisors LP increased its holdings in shares of GCM Grosvenor by 17.4% in the 1st 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 lifted its position in GCM Grosvenor by 4.8% in the 1st quarter. North Reef Capital Management LP now owns 630,179 shares of the company’s stock valued at $6,176,000 after purchasing an additional 28,824 shares during the last quarter. Arrowstreet Capital Limited Partnership lifted its position in GCM Grosvenor by 9.1% in the 1st quarter. Arrowstreet Capital Limited Partnership now owns 459,360 shares of the company’s stock valued at $4,502,000 after purchasing an additional 38,338 shares during the last quarter. Bank of New York Mellon Corp acquired a new position in GCM Grosvenor during the 2nd quarter valued at about $4,226,000. Finally, The Manufacturers Life Insurance Company boosted its stake in GCM Grosvenor by 18.8% during the 1st quarter. The Manufacturers Life Insurance Company now owns 280,406 shares of the company’s stock valued at $2,748,000 after purchasing an additional 44,316 shares during the period. Institutional investors and hedge funds own 99.95% of the company’s stock.

About GCM Grosvenor

GCM Grosvenor is a global alternative asset management firm that provides investment solutions across private equity, infrastructure, real estate, absolute return strategies and secondary investments. The firm offers both multi-manager and direct investment programs designed to provide institutions and other qualified investors with access to alternative assets.

The company serves a diverse client base that includes public and corporate pension plans, endowments, foundations, sovereign wealth funds, family offices, financial intermediaries and other institutional investors.