Intech Investment Management LLC Buys Shares of 23,602 GCM Grosvenor Inc. (NASDAQ:GCMG)

Intech Investment Management LLC purchased a new position in GCM Grosvenor Inc. (NASDAQ:GCMG) in the fourth quarter, HoldingsChannel.com reports. The fund purchased 23,602 shares of the company’s stock, valued at approximately $290,000.

Other institutional investors and hedge funds have also made changes to their positions in the company. Barclays PLC raised its stake in GCM Grosvenor by 56.9% in the 3rd quarter. Barclays PLC now owns 113,823 shares of the company’s stock valued at $1,288,000 after purchasing an additional 41,259 shares during the last quarter. JPMorgan Chase & Co. grew its holdings in shares of GCM Grosvenor by 232.0% during the third quarter. JPMorgan Chase & Co. now owns 100,980 shares of the company’s stock worth $1,143,000 after buying an additional 70,565 shares in the last quarter. Charles Schwab Investment Management Inc. raised its position in shares of GCM Grosvenor by 2.6% in the third quarter. Charles Schwab Investment Management Inc. now owns 120,317 shares of the company’s stock valued at $1,362,000 after buying an additional 3,047 shares during the last quarter. Allspring Global Investments Holdings LLC lifted its stake in shares of GCM Grosvenor by 86,424.6% during the fourth quarter. Allspring Global Investments Holdings LLC now owns 59,702 shares of the company’s stock valued at $733,000 after buying an additional 59,633 shares during the period. Finally, Rhumbline Advisers boosted its position in GCM Grosvenor by 5.6% during the fourth quarter. Rhumbline Advisers now owns 58,462 shares of the company’s stock worth $717,000 after acquiring an additional 3,111 shares during the last quarter. 99.95% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of research analysts have weighed in on GCMG shares. Piper Sandler raised GCM Grosvenor from a “neutral” rating to an “overweight” rating and increased their price target for the stock from $12.50 to $14.00 in a research note on Monday, December 23rd. Oppenheimer increased their target price on GCM Grosvenor from $18.00 to $20.00 and gave the stock an “outperform” rating in a research report on Thursday, December 12th. Finally, UBS Group lifted their price target on GCM Grosvenor from $13.00 to $14.00 and gave the company a “neutral” rating in a report on Wednesday, February 19th. Three investment analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $14.10.

GCM Grosvenor Trading Down 0.1 %

Shares of GCMG opened at $13.34 on Thursday. The stock’s fifty day simple moving average is $13.49 and its 200 day simple moving average is $12.44. The firm has a market capitalization of $2.52 billion, a P/E ratio of 444.67 and a beta of 0.58. GCM Grosvenor Inc. has a twelve month low of $8.88 and a twelve month high of $14.48.

GCM Grosvenor (NASDAQ:GCMG) last issued its earnings results on Monday, February 10th. The company reported $0.21 earnings per share for the quarter, missing the consensus estimate of $0.22 by ($0.01). GCM Grosvenor had a negative return on equity of 101.23% and a net margin of 3.64%. Sell-side analysts predict that GCM Grosvenor Inc. will post 0.64 earnings per share for the current year.

GCM Grosvenor Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, March 17th. Stockholders of record on Monday, March 3rd were paid a dividend of $0.11 per share. The ex-dividend date was Monday, March 3rd. This represents a $0.44 dividend on an annualized basis and a dividend yield of 3.30%. GCM Grosvenor’s dividend payout ratio is currently 1,466.67%.

GCM Grosvenor 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.