GCM Grosvenor Inc. (NASDAQ:GCMG) Sees Large Increase in Short Interest

GCM Grosvenor Inc. (NASDAQ:GCMG) was the target of a large growth in short interest during the month of December. As of December 31st, there was short interest totalling 5,900,000 shares, a growth of 6.7% from the December 15th total of 5,530,000 shares. Approximately 13.6% of the company’s shares are short sold. Based on an average daily volume of 274,700 shares, the short-interest ratio is presently 21.5 days.

Institutional Trading of GCM Grosvenor

A number of institutional investors and hedge funds have recently bought and sold shares of GCMG. SG Americas Securities LLC boosted its holdings in GCM Grosvenor by 20.1% in the fourth quarter. SG Americas Securities LLC now owns 20,223 shares of the company’s stock worth $248,000 after purchasing an additional 3,379 shares during the last quarter. JPMorgan Chase & Co. lifted its holdings in shares of GCM Grosvenor by 232.0% during the 3rd quarter. JPMorgan Chase & Co. now owns 100,980 shares of the company’s stock valued at $1,143,000 after buying an additional 70,565 shares during the period. Barclays PLC boosted its stake in shares of GCM Grosvenor by 56.9% in the 3rd quarter. Barclays PLC now owns 113,823 shares of the company’s stock worth $1,288,000 after buying an additional 41,259 shares during the last quarter. Geode Capital Management LLC grew its holdings in shares of GCM Grosvenor by 0.3% in the third quarter. Geode Capital Management LLC now owns 1,004,614 shares of the company’s stock worth $11,375,000 after acquiring an additional 2,607 shares during the period. Finally, State Street Corp increased its position in GCM Grosvenor by 2.0% during the third quarter. State Street Corp now owns 1,053,204 shares of the company’s stock valued at $11,922,000 after acquiring an additional 20,225 shares during the last quarter. 99.95% of the stock is currently owned by institutional investors.

GCM Grosvenor Trading Up 0.1 %

GCMG traded up $0.01 during midday trading on Friday, reaching $12.99. The company’s stock had a trading volume of 343,321 shares, compared to its average volume of 250,308. The stock’s 50-day moving average is $12.32 and its 200-day moving average is $11.47. The firm has a market capitalization of $2.46 billion, a price-to-earnings ratio of -216.50 and a beta of 0.56. GCM Grosvenor has a 1 year low of $8.05 and a 1 year high of $13.09.

GCM Grosvenor Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, December 16th. Stockholders of record on Monday, December 2nd were given a $0.11 dividend. This represents a $0.44 annualized dividend and a dividend yield of 3.39%. The ex-dividend date of this dividend was Monday, December 2nd. GCM Grosvenor’s dividend payout ratio is presently -733.33%.

Wall Street Analyst Weigh In

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