Longboard Asset Management LP Takes Position in GCM Grosvenor Inc. (NASDAQ:GCMG)

Longboard Asset Management LP acquired a new stake in shares of GCM Grosvenor Inc. (NASDAQ:GCMG) in the fourth quarter, Holdings Channel.com reports. The institutional investor acquired 13,567 shares of the company’s stock, valued at approximately $166,000.

A number of other hedge funds have also recently made changes to their positions in GCMG. Geode Capital Management LLC boosted its holdings in GCM Grosvenor by 0.3% during the third quarter. Geode Capital Management LLC now owns 1,004,614 shares of the company’s stock worth $11,375,000 after purchasing an additional 2,607 shares during the last quarter. Charles Schwab Investment Management Inc. boosted its holdings in GCM Grosvenor by 2.6% during the third quarter. Charles Schwab Investment Management Inc. now owns 120,317 shares of the company’s stock worth $1,362,000 after purchasing an additional 3,047 shares during the last quarter. SG Americas Securities LLC boosted its holdings in GCM Grosvenor by 20.1% during the fourth quarter. SG Americas Securities LLC now owns 20,223 shares of the company’s stock worth $248,000 after purchasing an additional 3,379 shares during the last quarter. Prime Capital Investment Advisors LLC boosted its holdings in GCM Grosvenor by 3.5% during the third quarter. Prime Capital Investment Advisors LLC now owns 108,109 shares of the company’s stock worth $1,224,000 after purchasing an additional 3,617 shares during the last quarter. Finally, R Squared Ltd purchased a new position in GCM Grosvenor during the fourth quarter worth about $57,000. 99.95% of the stock is currently owned by institutional investors and hedge funds.

GCM Grosvenor Trading Up 0.7 %

GCM Grosvenor stock opened at $13.51 on Wednesday. The firm’s 50 day simple moving average is $12.67 and its 200 day simple moving average is $11.75. The firm has a market capitalization of $2.56 billion, a PE ratio of -225.17 and a beta of 0.56. GCM Grosvenor Inc. has a 1-year low of $8.05 and a 1-year high of $13.67.

GCM Grosvenor (NASDAQ:GCMG) last posted its earnings results on Friday, November 8th. The company reported $0.14 earnings per share for the quarter, topping analysts’ consensus estimates of $0.13 by $0.01. The business had revenue of $122.93 million for the quarter, compared to analyst estimates of $126.39 million. GCM Grosvenor had a net margin of 3.08% and a negative return on equity of 73.06%. During the same quarter in the prior year, the firm posted $0.14 EPS. Research analysts forecast that GCM Grosvenor Inc. will post 0.51 earnings per share for the current year.

GCM Grosvenor Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, December 16th. Shareholders of record on Monday, December 2nd were paid a $0.11 dividend. The ex-dividend date was Monday, December 2nd. This represents a $0.44 dividend on an annualized basis and a yield of 3.26%. GCM Grosvenor’s dividend payout ratio is presently -733.33%.

Analyst Upgrades and Downgrades

Several research analysts recently weighed in on the stock. Oppenheimer boosted their price target on shares of GCM Grosvenor from $18.00 to $20.00 and gave the stock an “outperform” rating in a report on Thursday, December 12th. UBS Group boosted their target price on shares of GCM Grosvenor from $9.50 to $12.00 and gave the company a “neutral” rating in a research note on Tuesday, October 22nd. Piper Sandler upgraded shares of GCM Grosvenor from a “neutral” rating to an “overweight” rating and boosted their target price for the company from $12.50 to $14.00 in a research note on Monday, December 23rd. Finally, TD Cowen cut shares of GCM Grosvenor from a “buy” rating to a “hold” rating and dropped their target price for the company from $13.50 to $12.50 in a research note on Monday, November 11th. 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.com, the stock currently has an average rating of “Hold” and a consensus target price of $13.70.

About GCM Grosvenor

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.