GCM Grosvenor (NASDAQ:GCMG) Price Target Raised to $13.00

GCM Grosvenor (NASDAQ:GCMG) had its price objective lifted by JPMorgan Chase & Co. from $12.00 to $13.00 in a research report report published on Tuesday morning,Benzinga reports. JPMorgan Chase & Co. currently has a neutral rating on the stock.

Several other analysts have also commented on GCMG. Weiss Ratings raised shares of GCM Grosvenor from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Tuesday, July 21st. Oppenheimer cut their price objective on shares of GCM Grosvenor from $18.00 to $17.00 and set an “outperform” rating on the stock in a research report on Friday, July 17th. Wall Street Zen lowered shares of GCM Grosvenor from a “buy” rating to a “hold” rating in a research note on Saturday, May 2nd. TD Cowen increased their target price on shares of GCM Grosvenor from $13.50 to $14.00 and gave the company a “buy” rating in a research report on Tuesday, May 26th. Finally, Piper Sandler increased their target price on shares of GCM Grosvenor from $15.00 to $16.00 and gave the company an “overweight” rating in a research report on Tuesday. Four analysts have rated the stock with a Buy rating and one has given a Hold rating to the stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $15.00.

GCM Grosvenor Trading Up 0.9%

GCMG opened at $14.05 on Tuesday. The firm has a market cap of $2.84 billion, a price-to-earnings ratio of 27.02 and a beta of 0.84. The company has a current ratio of 4.05, a quick ratio of 4.05 and a debt-to-equity ratio of 2.97. GCM Grosvenor has a 12 month low of $9.30 and a 12 month high of $14.87. The stock has a fifty day moving average price of $12.63 and a 200-day moving average price of $11.42.

GCM Grosvenor (NASDAQ:GCMG) last issued its quarterly earnings data on Monday, August 10th. The company reported $0.19 earnings per share for the quarter, topping analysts’ consensus estimates of $0.18 by $0.01. GCM Grosvenor had a return on equity of 158.74% and a net margin of 7.79%.The firm had revenue of $134.34 million during the quarter, compared to analysts’ expectations of $131.21 million. As a group, equities research analysts anticipate that GCM Grosvenor will post 0.66 earnings per share for the current fiscal year.

GCM Grosvenor Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 15th. Stockholders of record on Tuesday, September 1st will be issued a dividend of $0.12 per share. The ex-dividend date is Tuesday, September 1st. This represents a $0.48 annualized dividend and a dividend yield of 3.4%. GCM Grosvenor’s dividend payout ratio is 92.31%.

Hedge Funds Weigh In On GCM Grosvenor

Several hedge funds and other institutional investors have recently modified their holdings of the stock. Ameriprise Financial Inc. grew its position in GCM Grosvenor by 2.8% during the 2nd quarter. Ameriprise Financial Inc. now owns 6,060,384 shares of the company’s stock worth $70,058,000 after purchasing an additional 166,578 shares during the last quarter. Vanguard Group Inc. raised its holdings in shares of GCM Grosvenor by 2.5% in the third quarter. Vanguard Group Inc. now owns 4,755,329 shares of the company’s stock worth $57,397,000 after buying an additional 114,983 shares during the last quarter. UBS Group AG lifted its stake in shares of GCM Grosvenor by 438.3% during the third quarter. UBS Group AG now owns 1,833,941 shares of the company’s stock worth $22,136,000 after buying an additional 1,493,250 shares during the period. State Street Corp lifted its stake in shares of GCM Grosvenor by 18.3% during the fourth quarter. State Street Corp now owns 1,649,438 shares of the company’s stock worth $18,672,000 after buying an additional 254,642 shares during the period. Finally, Goldman Sachs Group Inc. grew its holdings in shares of GCM Grosvenor by 145.6% during the fourth quarter. Goldman Sachs Group Inc. now owns 1,529,439 shares of the company’s stock valued at $17,313,000 after buying an additional 906,608 shares during the last quarter. 99.95% of the stock is owned by hedge funds and other institutional investors.

About GCM Grosvenor

GCM Grosvenor is a global alternative asset management firm that specializes in customized investment solutions across a range of private markets and hedge fund strategies. The firm partners with institutional clients—including pension funds, endowments, insurers and sovereign wealth funds—to design and implement portfolios that span private equity, infrastructure, real estate, credit and multi‐strategy hedge fund products. Through its multi‐manager platforms and direct co‐investment vehicles, GCM Grosvenor provides diversified access to opportunities that can enhance returns and manage risk in client portfolios.

Founded in 1971 as Grosvenor Capital Management, the firm has built a track record of sourcing, structuring and monitoring alternative investments on behalf of its clients.