Massachusetts Financial Services Co. MA Has $28.14 Million Stock Position in GCM Grosvenor Inc. (NASDAQ:GCMG)

Massachusetts Financial Services Co. MA raised its holdings in GCM Grosvenor Inc. (NASDAQ:GCMG) by 3.6% in the 3rd quarter, according to the company in its most recent filing with the SEC. The firm owned 2,485,933 shares of the company’s stock after acquiring an additional 87,010 shares during the quarter. Massachusetts Financial Services Co. MA owned approximately 1.32% of GCM Grosvenor worth $28,141,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in GCMG. Millennium Management LLC increased its position in shares of GCM Grosvenor by 169.7% during the second quarter. Millennium Management LLC now owns 418,066 shares of the company’s stock worth $4,080,000 after buying an additional 263,064 shares during the period. Ariel Investments LLC increased its position in shares of GCM Grosvenor by 1.5% during the second quarter. Ariel Investments LLC now owns 4,546,096 shares of the company’s stock worth $44,370,000 after buying an additional 66,016 shares during the period. Squarepoint Ops LLC increased its position in shares of GCM Grosvenor by 374.3% during the second quarter. Squarepoint Ops LLC now owns 91,437 shares of the company’s stock worth $892,000 after buying an additional 72,160 shares during the period. Vanguard Group Inc. increased its position in shares of GCM Grosvenor by 0.9% during the first quarter. Vanguard Group Inc. now owns 4,149,609 shares of the company’s stock worth $40,085,000 after buying an additional 37,852 shares during the period. Finally, Price T Rowe Associates Inc. MD increased its position in shares of GCM Grosvenor by 23.1% during the first quarter. Price T Rowe Associates Inc. MD now owns 12,461 shares of the company’s stock worth $121,000 after buying an additional 2,341 shares during the period. 99.95% of the stock is currently owned by institutional investors and hedge funds.

GCM Grosvenor Trading Up 0.2 %

GCM Grosvenor stock opened at $12.35 on Tuesday. GCM Grosvenor Inc. has a 1-year low of $8.04 and a 1-year high of $12.58. The firm has a market capitalization of $2.34 billion, a price-to-earnings ratio of -205.83 and a beta of 0.54. The firm’s fifty day moving average price is $11.60 and its two-hundred day moving average price is $10.76.

GCM Grosvenor Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, December 16th. Shareholders of record on Monday, December 2nd will be paid a $0.11 dividend. This represents a $0.44 dividend on an annualized basis and a dividend yield of 3.56%. The ex-dividend date is Monday, December 2nd. GCM Grosvenor’s dividend payout ratio (DPR) is -733.33%.

Insider Buying and Selling at GCM Grosvenor

In related news, insider Kathleen Patricia Sullivan sold 5,000 shares of the firm’s stock in a transaction dated Monday, September 9th. The shares were sold at an average price of $10.73, for a total transaction of $53,650.00. Following the transaction, the insider now directly owns 47,307 shares of the company’s stock, valued at $507,604.11. This trade represents a 9.56 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Insiders own 77.30% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms have recently weighed in on GCMG. JPMorgan Chase & Co. decreased their price objective on shares of GCM Grosvenor from $10.50 to $10.00 and set a “neutral” rating for the company in a research report on Monday, August 12th. Piper Sandler increased their target price on shares of GCM Grosvenor from $10.50 to $11.50 and gave the stock a “neutral” rating in a research note on Wednesday, October 9th. UBS Group increased their target price on shares of GCM Grosvenor from $9.50 to $12.00 and gave the stock a “neutral” rating in a research note on Tuesday, October 22nd. TD Cowen lowered shares of GCM Grosvenor from a “buy” rating to a “hold” rating and cut their target price for the stock from $13.50 to $12.50 in a research note on Monday, November 11th. Finally, Oppenheimer increased their target price on shares of GCM Grosvenor from $14.00 to $18.00 and gave the stock an “outperform” rating in a research note on Wednesday, October 16th. Four research analysts have rated the stock with a hold rating and one has given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $12.80.

GCM Grosvenor Profile

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.