GCM Grosvenor (NASDAQ:GCMG) Posts Quarterly Earnings Results, Misses Expectations By $0.01 EPS

GCM Grosvenor (NASDAQ:GCMG) released its earnings results on Monday. The company reported $0.21 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.22 by ($0.01), Zacks reports. GCM Grosvenor had a net margin of 3.08% and a negative return on equity of 73.06%.

GCM Grosvenor Stock Performance

Shares of GCM Grosvenor stock opened at $14.04 on Monday. The stock has a 50 day moving average of $12.74 and a 200 day moving average of $11.81. The firm has a market capitalization of $2.66 billion, a price-to-earnings ratio of -230.95 and a beta of 0.56. GCM Grosvenor has a fifty-two week low of $8.05 and a fifty-two week high of $14.60.

Wall Street Analyst Weigh In

Several analysts have commented on GCMG shares. UBS Group raised their price objective on GCM Grosvenor from $9.50 to $12.00 and gave the company a “neutral” rating in a report on Tuesday, October 22nd. Oppenheimer lifted their price objective on GCM Grosvenor from $18.00 to $20.00 and gave the stock an “outperform” rating in a report on Thursday, December 12th. TD Cowen cut GCM Grosvenor from a “buy” rating to a “hold” rating and reduced their target price for the company from $13.50 to $12.50 in a report on Monday, November 11th. Finally, Piper Sandler raised GCM Grosvenor from a “neutral” rating to an “overweight” rating and lifted their price target for the stock from $12.50 to $14.00 in a research note on Monday, December 23rd. Three analysts have rated the stock with a hold rating and two have given a buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $13.70.

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.