GCM Grosvenor (NASDAQ:GCMG) Sets New 52-Week High – Should You Buy?

GCM Grosvenor Inc. (NASDAQ:GCMG)’s stock price hit a new 52-week high during mid-day trading on Wednesday . The stock traded as high as $12.44 and last traded at $12.43, with a volume of 355497 shares changing hands. The stock had previously closed at $12.06.

Analyst Ratings Changes

A number of research analysts have recently commented on the stock. UBS Group boosted their target price on shares of 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 boosted their price objective on shares of GCM Grosvenor from $10.50 to $11.50 and gave the stock a “neutral” rating in a report on Wednesday, October 9th. TD Cowen downgraded GCM Grosvenor from a “buy” rating to a “hold” rating and lowered their target price for the company from $13.50 to $12.50 in a research note on Monday, November 11th. Oppenheimer boosted their price target on GCM Grosvenor from $14.00 to $18.00 and gave the stock an “outperform” rating in a research note on Wednesday, October 16th. Finally, JPMorgan Chase & Co. lowered their price objective on GCM Grosvenor from $10.50 to $10.00 and set a “neutral” rating for the company in a research note on Monday, August 12th. Four equities research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. According to MarketBeat, GCM Grosvenor currently has an average rating of “Hold” and an average target price of $12.80.

GCM Grosvenor Stock Up 0.7 %

The stock has a 50 day moving average of $11.55 and a 200 day moving average of $10.71. The firm has a market capitalization of $2.33 billion, a price-to-earnings ratio of -204.00 and a beta of 0.54.

GCM Grosvenor Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, December 16th. Stockholders of record on Monday, December 2nd will be issued a $0.11 dividend. The ex-dividend date is Monday, December 2nd. This represents a $0.44 dividend on an annualized basis and a dividend yield of 3.57%. GCM Grosvenor’s dividend payout ratio (DPR) is -733.33%.

Insider Buying and Selling

In other news, insider Kathleen Patricia Sullivan sold 5,000 shares of the company’s stock in a transaction that occurred on Monday, September 9th. The stock was sold at an average price of $10.73, for a total transaction of $53,650.00. Following the completion of the transaction, the insider now directly owns 47,307 shares of the company’s stock, valued at approximately $507,604.11. This 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 can be accessed through the SEC website. 77.30% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Quadrature Capital Ltd increased its position in GCM Grosvenor by 10.5% in the first quarter. Quadrature Capital Ltd now owns 14,401 shares of the company’s stock worth $139,000 after buying an additional 1,364 shares during the period. Rhumbline Advisers increased its holdings in shares of GCM Grosvenor by 2.4% in the 2nd quarter. Rhumbline Advisers now owns 58,772 shares of the company’s stock worth $574,000 after acquiring an additional 1,402 shares during the period. Price T Rowe Associates Inc. MD increased its holdings in shares of GCM Grosvenor by 23.1% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 12,461 shares of the company’s stock worth $121,000 after acquiring an additional 2,341 shares during the period. Geode Capital Management LLC lifted its position in GCM Grosvenor by 0.3% in the 3rd quarter. Geode Capital Management LLC now owns 1,004,614 shares of the company’s stock valued at $11,375,000 after purchasing an additional 2,607 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. boosted its stake in GCM Grosvenor by 2.6% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 120,317 shares of the company’s stock valued at $1,362,000 after purchasing an additional 3,047 shares during the period. Institutional investors and hedge funds own 99.95% of the company’s stock.

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.