GCM Grosvenor (NASDAQ:GCMG) Rating Lowered to “Hold” at TD Cowen

GCM Grosvenor (NASDAQ:GCMG) was downgraded by research analysts at TD Cowen from a “buy” rating to a “hold” rating in a research report issued on Monday, MarketBeat Ratings reports. They presently have a $12.50 price objective on the stock, down from their prior price objective of $13.50. TD Cowen’s price objective would suggest a potential upside of 5.40% from the stock’s current price.

Other equities research analysts have also issued reports about the stock. Oppenheimer upped their price objective on shares of GCM Grosvenor from $14.00 to $18.00 and gave the company an “outperform” rating in a research note on Wednesday, October 16th. JPMorgan Chase & Co. decreased their price target on GCM Grosvenor from $10.50 to $10.00 and set a “neutral” rating for the company in a report on Monday, August 12th. UBS Group boosted their price objective on GCM Grosvenor from $9.50 to $12.00 and gave the company a “neutral” rating in a research note on Tuesday, October 22nd. Finally, Piper Sandler raised their target price on GCM Grosvenor from $10.50 to $11.50 and gave the stock a “neutral” rating in a research note on Wednesday, October 9th. Four analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $12.80.

GCM Grosvenor Price Performance

Shares of GCMG stock opened at $11.86 on Monday. The stock has a market capitalization of $2.24 billion, a PE ratio of -197.67 and a beta of 0.54. The business’s 50 day simple moving average is $11.36 and its 200 day simple moving average is $10.59. GCM Grosvenor has a one year low of $7.75 and a one year high of $12.43.

Insider Activity

In related news, insider Kathleen Patricia Sullivan sold 5,000 shares of the business’s stock in a transaction dated Monday, September 9th. The stock was sold at an average price of $10.73, for a total value of $53,650.00. Following the completion of the sale, the insider now directly owns 47,307 shares of the company’s stock, valued at $507,604.11. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Company insiders own 77.30% of the company’s stock.

Hedge Funds Weigh In On GCM Grosvenor

Large investors have recently modified their holdings of the company. Quadrature Capital Ltd lifted its stake in shares of GCM Grosvenor by 10.5% in the first quarter. Quadrature Capital Ltd now owns 14,401 shares of the company’s stock valued at $139,000 after buying an additional 1,364 shares in the last quarter. Rhumbline Advisers boosted its stake in 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 purchasing an additional 1,402 shares during the last quarter. Price T Rowe Associates Inc. MD increased its holdings in GCM Grosvenor by 23.1% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 12,461 shares of the company’s stock worth $121,000 after purchasing an additional 2,341 shares in the last quarter. Charles Schwab Investment Management Inc. raised its stake 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 worth $1,362,000 after purchasing an additional 3,047 shares during the last quarter. Finally, Prime Capital Investment Advisors LLC lifted its holdings in shares of GCM Grosvenor by 3.5% in the third quarter. Prime Capital Investment Advisors LLC now owns 108,109 shares of the company’s stock valued at $1,224,000 after purchasing an additional 3,617 shares in the last quarter. 99.95% of the stock is currently owned by institutional investors.

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.