Oppenheimer Cuts GCM Grosvenor (NASDAQ:GCMG) Price Target to $17.00

GCM Grosvenor (NASDAQ:GCMG) had its target price lowered by stock analysts at Oppenheimer from $18.00 to $17.00 in a report released on Friday,Benzinga reports. The firm presently has an “outperform” rating on the stock. Oppenheimer’s target price would suggest a potential upside of 30.37% from the stock’s current price.

Several other research analysts also recently weighed in on the stock. Wall Street Zen downgraded shares of GCM Grosvenor from a “buy” rating to a “hold” rating in a research note on Saturday, May 2nd. TD Cowen lifted their price target on shares of GCM Grosvenor from $13.50 to $14.00 and gave the stock a “buy” rating in a research note on Tuesday, May 26th. Weiss Ratings reiterated a “hold (c+)” rating on shares of GCM Grosvenor in a report on Wednesday, July 8th. Finally, Piper Sandler upped their price objective on shares of GCM Grosvenor from $13.00 to $15.00 and gave the company an “overweight” rating in a research report on Monday. Three analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $15.33.

GCM Grosvenor Stock Down 3.4%

GCM Grosvenor stock traded down $0.46 during midday trading on Friday, hitting $13.04. 167,030 shares of the company were exchanged, compared to its average volume of 559,620. The company has a market cap of $2.63 billion, a PE ratio of 28.98 and a beta of 0.83. GCM Grosvenor has a fifty-two week low of $9.30 and a fifty-two week high of $14.38. The company’s fifty day moving average price is $11.75 and its 200-day moving average price is $11.23. The company has a debt-to-equity ratio of 2.97, a current ratio of 4.05 and a quick ratio of 4.05.

GCM Grosvenor (NASDAQ:GCMG) last issued its quarterly earnings data on Thursday, May 7th. The company reported $0.18 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.18. The company had revenue of $124.78 million during the quarter, compared to the consensus estimate of $130.13 million. GCM Grosvenor had a net margin of 9.05% and a return on equity of 222.78%. On average, research analysts predict that GCM Grosvenor will post 0.66 EPS for the current fiscal year.

Hedge Funds Weigh In On GCM Grosvenor

Hedge funds have recently bought and sold shares of the company. JPMorgan Chase & Co. lifted its holdings in GCM Grosvenor by 104.0% during the 3rd quarter. JPMorgan Chase & Co. now owns 582,337 shares of the company’s stock worth $7,029,000 after buying an additional 296,860 shares during the last quarter. Jennison Associates LLC bought a new stake in shares of GCM Grosvenor in the 4th quarter valued at approximately $964,000. North Star Investment Management Corp. increased its holdings in shares of GCM Grosvenor by 123.0% in the 4th quarter. North Star Investment Management Corp. now owns 210,518 shares of the company’s stock valued at $2,383,000 after acquiring an additional 116,118 shares during the last quarter. Atom Investors LP raised its position in shares of GCM Grosvenor by 170.6% during the 4th quarter. Atom Investors LP now owns 92,166 shares of the company’s stock valued at $1,043,000 after acquiring an additional 58,110 shares in the last quarter. Finally, BNP Paribas Financial Markets raised its position in shares of GCM Grosvenor by 352.1% during the 2nd quarter. BNP Paribas Financial Markets now owns 89,331 shares of the company’s stock valued at $1,033,000 after acquiring an additional 69,570 shares in the last quarter. 99.95% of the stock is currently owned by institutional investors and hedge funds.

About GCM Grosvenor

GCM Grosvenor is a global alternative asset management firm that specializes in customized investment solutions across a range of private markets and hedge fund strategies. The firm partners with institutional clients—including pension funds, endowments, insurers and sovereign wealth funds—to design and implement portfolios that span private equity, infrastructure, real estate, credit and multi?strategy hedge fund products. Through its multi?manager platforms and direct co?investment vehicles, GCM Grosvenor provides diversified access to opportunities that can enhance returns and manage risk in client portfolios.

Founded in 1971 as Grosvenor Capital Management, the firm has built a track record of sourcing, structuring and monitoring alternative investments on behalf of its clients.