GCM Grosvenor (NASDAQ:GCMG) Trading Up 3.8% – Should You Buy?

GCM Grosvenor Inc. (NASDAQ:GCMG) shares traded up 3.8% during mid-day trading on Tuesday . The company traded as high as $11.92 and last traded at $11.92. 55,037 shares changed hands during mid-day trading, a decline of 69% from the average session volume of 179,147 shares. The stock had previously closed at $11.48.

Analyst Ratings Changes

Several brokerages have recently issued reports on GCMG. JPMorgan Chase & Co. lowered their price objective on shares of GCM Grosvenor from $10.50 to $10.00 and set a “neutral” rating on the stock in a research note on Monday, August 12th. UBS Group lifted their target price on GCM Grosvenor from $9.50 to $12.00 and gave the stock a “neutral” rating in a research report on Tuesday, October 22nd. Piper Sandler upped their price target on GCM Grosvenor from $10.50 to $11.50 and gave the company a “neutral” rating in a report on Wednesday, October 9th. TD Cowen lowered GCM Grosvenor from a “buy” rating to a “hold” rating and decreased their price objective for the stock from $13.50 to $12.50 in a report on Monday. Finally, Oppenheimer upped their target price on GCM Grosvenor from $14.00 to $18.00 and gave the company 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 assigned a buy rating to the company. According to MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $12.80.

GCM Grosvenor Price Performance

The stock’s 50 day simple moving average is $11.40 and its two-hundred day simple moving average is $10.62. The company has a market capitalization of $2.19 billion, a P/E ratio of -193.67 and a beta of 0.54.

GCM Grosvenor Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, December 16th. Shareholders of record on Monday, December 2nd will be given a $0.11 dividend. The ex-dividend date of this dividend is Monday, December 2nd. This represents a $0.44 dividend on an annualized basis and a yield of 3.79%. GCM Grosvenor’s payout ratio is -733.33%.

Insider Transactions at GCM Grosvenor

In other GCM Grosvenor news, insider Kathleen Patricia Sullivan sold 5,000 shares of the firm’s stock in a transaction that occurred on Monday, September 9th. The shares were sold at an average price of $10.73, for a total value of $53,650.00. Following the transaction, the insider now directly owns 47,307 shares of the company’s stock, valued at approximately $507,604.11. This trade represents a 9.56 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 77.30% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On GCM Grosvenor

Hedge funds have recently added to or reduced their stakes in the stock. PDT Partners LLC acquired a new position in shares of GCM Grosvenor in the 3rd quarter valued at $449,000. Charles Schwab Investment Management Inc. raised its position in GCM Grosvenor by 2.6% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 120,317 shares of the company’s stock valued at $1,362,000 after buying an additional 3,047 shares during the last quarter. Massachusetts Financial Services Co. MA lifted its stake in GCM Grosvenor by 3.6% in the 3rd quarter. Massachusetts Financial Services Co. MA now owns 2,485,933 shares of the company’s stock valued at $28,141,000 after acquiring an additional 87,010 shares in the last quarter. Quest Partners LLC bought a new position in shares of GCM Grosvenor during the 3rd quarter worth approximately $424,000. Finally, Prime Capital Investment Advisors LLC grew its position in GCM Grosvenor by 3.5% in the third quarter. Prime Capital Investment Advisors LLC now owns 108,109 shares of the company’s stock valued at $1,224,000 after purchasing an additional 3,617 shares in the last quarter. Institutional investors and hedge funds own 99.95% of the company’s stock.

GCM Grosvenor Company 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.