GCM Grosvenor (NASDAQ:GCMG) Cut to Hold at TD Cowen

TD Cowen downgraded shares of GCM Grosvenor (NASDAQ:GCMG) from a buy rating to a hold rating in a research report report published on Monday, MarketBeat.com reports. The brokerage currently has $12.50 price objective on the stock, down from their prior price objective of $13.50.

A number of other research firms have also issued reports on GCMG. JPMorgan Chase & Co. cut their price target on shares of GCM Grosvenor from $10.50 to $10.00 and set a “neutral” rating on the stock in a report on Monday, August 12th. Oppenheimer increased their target price on GCM Grosvenor from $14.00 to $18.00 and gave the company an “outperform” rating in a report on Wednesday, October 16th. Piper Sandler lifted their target price on GCM Grosvenor from $10.50 to $11.50 and gave the company a “neutral” rating in a research note on Wednesday, October 9th. Finally, UBS Group raised their price target on shares of GCM Grosvenor from $9.50 to $12.00 and gave the stock a “neutral” rating in a report on Tuesday, October 22nd. Four analysts have rated the stock with a hold rating and one has given a buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $12.80.

GCM Grosvenor Trading Down 2.0 %

NASDAQ GCMG opened at $11.62 on Monday. GCM Grosvenor has a 1 year low of $7.75 and a 1 year high of $12.43. The company has a market cap of $2.19 billion, a PE ratio of -193.67 and a beta of 0.54. The stock’s 50-day moving average price is $11.39 and its two-hundred day moving average price is $10.61.

GCM Grosvenor Dividend Announcement

The firm 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 dividend of $0.11 per share. The ex-dividend date of this dividend is Monday, December 2nd. This represents a $0.44 dividend on an annualized basis and a dividend yield of 3.79%. GCM Grosvenor’s dividend payout ratio is currently -733.33%.

Insider Buying and Selling at GCM Grosvenor

In other news, insider Kathleen Patricia Sullivan sold 5,000 shares of the stock in a transaction dated 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 approximately $507,604.11. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Corporate insiders own 77.30% of the company’s stock.

Hedge Funds Weigh In On GCM Grosvenor

Several large investors have recently made changes to their positions in GCMG. Copeland Capital Management LLC bought a new position in GCM Grosvenor during the third quarter worth $58,000. LRI Investments LLC acquired a new stake in GCM Grosvenor during the first quarter worth about $95,000. Price T Rowe Associates Inc. MD increased its stake in GCM Grosvenor by 23.1% during the first quarter. Price T Rowe Associates Inc. MD now owns 12,461 shares of the company’s stock valued at $121,000 after acquiring an additional 2,341 shares during the period. Quadrature Capital Ltd lifted its position in shares of GCM Grosvenor by 10.5% in the 1st quarter. Quadrature Capital Ltd now owns 14,401 shares of the company’s stock worth $139,000 after acquiring an additional 1,364 shares during the period. Finally, Susquehanna Fundamental Investments LLC acquired a new stake in shares of GCM Grosvenor during the 2nd quarter worth approximately $157,000. Institutional investors and hedge funds own 99.95% of the company’s stock.

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.