GCM Grosvenor (NASDAQ:GCMG) Reaches New 12-Month High – Still a Buy?

GCM Grosvenor Inc. (NASDAQ:GCMG) shares reached a new 52-week high on Tuesday . The stock traded as high as $13.71 and last traded at $13.47, with a volume of 2373 shares traded. The stock had previously closed at $13.42.

Analyst Ratings Changes

GCMG has been the subject of a number of recent analyst reports. TD Cowen lowered 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. UBS Group boosted their price target on shares of GCM Grosvenor from $9.50 to $12.00 and gave the company a “neutral” rating in a research report on Tuesday, October 22nd. Oppenheimer increased their price objective on GCM Grosvenor from $18.00 to $20.00 and gave the company an “outperform” rating in a research report on Thursday, December 12th. Finally, Piper Sandler raised GCM Grosvenor from a “neutral” rating to an “overweight” rating and upped their target price for the stock from $12.50 to $14.00 in a research note on Monday, December 23rd. Three equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $13.70.

GCM Grosvenor Price Performance

The stock has a market capitalization of $2.58 billion, a PE ratio of -227.33 and a beta of 0.56. The business has a 50 day moving average price of $12.65 and a 200 day moving average price of $11.73.

GCM Grosvenor (NASDAQ:GCMG) last announced its earnings results on Friday, November 8th. The company reported $0.14 earnings per share for the quarter, beating analysts’ consensus estimates of $0.13 by $0.01. The business had revenue of $122.93 million during 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 period in the previous year, the business earned $0.14 EPS. On average, equities analysts expect that GCM Grosvenor Inc. will post 0.51 earnings per share for the current year.

GCM Grosvenor Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, December 16th. Shareholders of record on Monday, December 2nd were issued a dividend of $0.11 per share. This represents a $0.44 annualized dividend and a dividend yield of 3.23%. The ex-dividend date of this dividend was Monday, December 2nd. GCM Grosvenor’s dividend payout ratio (DPR) is presently -733.33%.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of GCMG. R Squared Ltd bought a new stake in shares of GCM Grosvenor during the fourth quarter valued at approximately $57,000. Copeland Capital Management LLC bought a new position in shares of GCM Grosvenor during the third quarter valued at approximately $58,000. Bleakley Financial Group LLC bought a new position in GCM Grosvenor in the fourth quarter worth approximately $127,000. Truist Financial Corp bought a new position in shares of GCM Grosvenor in the 4th quarter worth $157,000. Finally, Longboard Asset Management LP bought a new position in shares of GCM Grosvenor during the 4th quarter worth approximately $166,000. 99.95% of the stock is owned by hedge funds and other institutional investors.

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.