Dearborn Partners LLC Sells 3,000 Shares of GCM Grosvenor Inc. (NASDAQ:GCMG)

Dearborn Partners LLC lessened its stake in GCM Grosvenor Inc. (NASDAQ:GCMG) by 12.7% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 20,576 shares of the company’s stock after selling 3,000 shares during the period. Dearborn Partners LLC’s holdings in GCM Grosvenor were worth $233,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in GCMG. Russell Investments Group Ltd. boosted its holdings in GCM Grosvenor by 23.7% in the first quarter. Russell Investments Group Ltd. now owns 681,202 shares of the company’s stock valued at $6,580,000 after acquiring an additional 130,547 shares during the last quarter. Millennium Management LLC boosted its stake in shares of GCM Grosvenor by 169.7% in the 2nd quarter. Millennium Management LLC now owns 418,066 shares of the company’s stock valued at $4,080,000 after purchasing an additional 263,064 shares during the last quarter. Ariel Investments LLC raised its stake in GCM Grosvenor by 1.5% during the second quarter. Ariel Investments LLC now owns 4,546,096 shares of the company’s stock worth $44,370,000 after buying an additional 66,016 shares during the last quarter. Blair William & Co. IL lifted its holdings in GCM Grosvenor by 35.6% in the first quarter. Blair William & Co. IL now owns 164,442 shares of the company’s stock valued at $1,589,000 after buying an additional 43,207 shares during the period. Finally, Squarepoint Ops LLC boosted its position in GCM Grosvenor by 374.3% during the second quarter. Squarepoint Ops LLC now owns 91,437 shares of the company’s stock valued at $892,000 after acquiring an additional 72,160 shares during the last quarter. Institutional investors and hedge funds own 99.95% of the company’s stock.

GCM Grosvenor Stock Up 0.6 %

NASDAQ GCMG opened at $11.68 on Friday. GCM Grosvenor Inc. has a 52 week low of $7.75 and a 52 week high of $12.43. The business has a 50 day moving average price of $11.44 and a 200-day moving average price of $10.64. The company has a market cap of $2.21 billion, a price-to-earnings ratio of -194.67 and a beta of 0.54.

GCM Grosvenor Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, December 16th. Shareholders of record on Monday, December 2nd will be issued a dividend of $0.11 per share. The ex-dividend date is Monday, December 2nd. This represents a $0.44 annualized dividend and a yield of 3.77%. GCM Grosvenor’s payout ratio is -733.33%.

Insider Buying and Selling at GCM Grosvenor

In related news, insider Kathleen Patricia Sullivan sold 5,000 shares of GCM Grosvenor 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 transaction, the insider now owns 47,307 shares of the company’s stock, valued at $507,604.11. The trade was a 9.56 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Insiders own 77.30% of the company’s stock.

Wall Street Analysts Forecast Growth

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

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.