GCM Grosvenor (NASDAQ:GCMG) Sets New 1-Year High – Still a Buy?

GCM Grosvenor Inc. (NASDAQ:GCMG)’s share price hit a new 52-week high during trading on Friday . The stock traded as high as $12.62 and last traded at $12.60, with a volume of 57044 shares changing hands. The stock had previously closed at $12.49.

Analyst Upgrades and Downgrades

A number of brokerages have recently commented on GCMG. Piper Sandler upgraded shares of GCM Grosvenor from a “neutral” rating to an “overweight” rating and boosted their target price for the company from $12.50 to $14.00 in a report on Monday, December 23rd. Oppenheimer boosted their price objective on shares of GCM Grosvenor from $18.00 to $20.00 and gave the stock an “outperform” rating in a research note on Thursday, December 12th. TD Cowen downgraded shares of GCM Grosvenor from a “buy” rating to a “hold” rating and decreased their target price for the company from $13.50 to $12.50 in a research note on Monday, November 11th. Finally, UBS Group boosted their price target on GCM Grosvenor from $9.50 to $12.00 and gave the stock a “neutral” rating in a research report on Tuesday, October 22nd. Three investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Hold” and a consensus target price of $13.70.

GCM Grosvenor Trading Up 2.0 %

The business’s 50 day simple moving average is $12.11 and its two-hundred day simple moving average is $11.25. The firm has a market capitalization of $2.41 billion, a P/E ratio of -212.33 and a beta of 0.56.

GCM Grosvenor Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, December 16th. Investors of record on Monday, December 2nd were given a dividend of $0.11 per share. The ex-dividend date was Monday, December 2nd. This represents a $0.44 dividend on an annualized basis and a yield of 3.45%. GCM Grosvenor’s dividend payout ratio (DPR) is -733.33%.

Institutional Investors Weigh In On GCM Grosvenor

Large investors have recently added to or reduced their stakes in the stock. Rhumbline Advisers lifted its holdings in shares of GCM Grosvenor by 2.4% during the 2nd quarter. Rhumbline Advisers now owns 58,772 shares of the company’s stock valued at $574,000 after buying an additional 1,402 shares during the period. Geode Capital Management LLC lifted its holdings in GCM Grosvenor by 0.3% in the third quarter. Geode Capital Management LLC now owns 1,004,614 shares of the company’s stock valued at $11,375,000 after acquiring an additional 2,607 shares during the period. Charles Schwab Investment Management Inc. boosted its position in GCM Grosvenor by 2.6% in the third quarter. Charles Schwab Investment Management Inc. now owns 120,317 shares of the company’s stock worth $1,362,000 after purchasing an additional 3,047 shares during the last quarter. Prime Capital Investment Advisors LLC boosted its position in GCM Grosvenor by 3.5% in the third quarter. Prime Capital Investment Advisors LLC now owns 108,109 shares of the company’s stock worth $1,224,000 after purchasing an additional 3,617 shares during the last quarter. Finally, Copeland Capital Management LLC bought a new stake in shares of GCM Grosvenor during the 3rd quarter valued at about $58,000. Institutional investors own 99.95% of the company’s stock.

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.