GCM Grosvenor (NASDAQ:GCMG) Shares Gap Up – Still a Buy?

GCM Grosvenor Inc. (NASDAQ:GCMG) shares gapped up before the market opened on Monday . The stock had previously closed at $11.75, but opened at $12.47. GCM Grosvenor shares last traded at $12.07, with a volume of 48,530 shares.

Analyst Upgrades and Downgrades

A number of equities analysts have recently issued reports on GCMG shares. TD Cowen cut shares of GCM Grosvenor from a “buy” rating to a “hold” rating and dropped their price objective for the company from $13.50 to $12.50 in a research note on Monday, November 11th. Piper Sandler upgraded shares of GCM Grosvenor from a “neutral” rating to an “overweight” rating and raised their price target for the stock from $12.50 to $14.00 in a research note on Monday. Oppenheimer upped their price objective on GCM Grosvenor from $18.00 to $20.00 and gave the company an “outperform” rating in a research note on Thursday, December 12th. Finally, UBS Group boosted their price target on GCM Grosvenor from $9.50 to $12.00 and gave the company a “neutral” rating in a research note on Tuesday, October 22nd. Three equities research analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $13.70.

GCM Grosvenor Stock Performance

The stock has a market cap of $2.30 billion, a P/E ratio of -202.50 and a beta of 0.56. The company has a 50-day simple moving average of $11.95 and a 200-day simple moving average of $11.07.

GCM Grosvenor Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, December 16th. Investors of record on Monday, December 2nd were given a dividend of $0.11 per share. The ex-dividend date was Monday, December 2nd. This represents a $0.44 annualized dividend and a yield of 3.62%. GCM Grosvenor’s dividend payout ratio (DPR) is -733.33%.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the stock. Copeland Capital Management LLC acquired a new stake in shares of GCM Grosvenor in the 3rd quarter valued at $58,000. Susquehanna Fundamental Investments LLC bought a new stake in GCM Grosvenor during the 2nd quarter worth about $157,000. SG Americas Securities LLC acquired a new position in GCM Grosvenor during the 3rd quarter valued at about $191,000. Quest Partners LLC acquired a new position in GCM Grosvenor during the 3rd quarter valued at about $424,000. Finally, PDT Partners LLC bought a new position in shares of GCM Grosvenor in the 3rd quarter valued at about $449,000. Institutional investors 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.