GCM Grosvenor (NASDAQ:GCMG) Stock Price Expected to Rise, Oppenheimer Analyst Says

GCM Grosvenor (NASDAQ:GCMG) had its price objective boosted by Oppenheimer from $18.00 to $20.00 in a report released on Thursday,Benzinga reports. The brokerage currently has an outperform rating on the stock.

Other equities research analysts also recently issued research reports about the company. UBS Group raised their target price on GCM Grosvenor from $9.50 to $12.00 and gave the company a “neutral” rating in a report on Tuesday, October 22nd. TD Cowen lowered GCM Grosvenor from a “buy” rating to a “hold” rating and reduced their price objective for the company from $13.50 to $12.50 in a research note on Monday, November 11th. Finally, Piper Sandler boosted 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 investment analysts have rated the stock with a hold rating and one has assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and an average target price of $13.20.

GCM Grosvenor Stock Up 0.8 %

GCMG stock opened at $12.45 on Thursday. The company’s 50-day moving average price is $11.88 and its two-hundred day moving average price is $11.00. GCM Grosvenor has a 12 month low of $8.05 and a 12 month high of $12.58. The firm has a market cap of $2.35 billion, a P/E ratio of -207.50 and a beta of 0.56.

GCM Grosvenor Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, December 16th. Shareholders of record on Monday, December 2nd will be issued a dividend of $0.11 per share. This represents a $0.44 dividend on an annualized basis and a yield of 3.53%. The ex-dividend date of this dividend is Monday, December 2nd. GCM Grosvenor’s payout ratio is -733.33%.

Hedge Funds Weigh In On GCM Grosvenor

Hedge funds have recently modified their holdings of the business. Barclays PLC increased its holdings in GCM Grosvenor by 56.9% in the third 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 period. Geode Capital Management LLC grew its position in shares of GCM Grosvenor by 0.3% in the 3rd quarter. Geode Capital Management LLC now owns 1,004,614 shares of the company’s stock valued at $11,375,000 after buying an additional 2,607 shares during the last quarter. State Street Corp increased its stake in shares of GCM Grosvenor by 2.0% in the third quarter. State Street Corp now owns 1,053,204 shares of the company’s stock valued at $11,922,000 after buying an additional 20,225 shares during the period. Bamco Inc. NY bought a new position in shares of GCM Grosvenor during the third quarter worth about $19,810,000. Finally, Wasatch Advisors LP raised its position in shares of GCM Grosvenor by 0.9% during the third quarter. Wasatch Advisors LP now owns 3,186,987 shares of the company’s stock worth $36,077,000 after acquiring an additional 29,382 shares during the last quarter. Institutional investors and hedge funds 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.