GCM Grosvenor (NASDAQ:GCMG) Hits New 12-Month High – Time to Buy?

GCM Grosvenor Inc. (NASDAQ:GCMG) shares reached a new 52-week high during mid-day trading on Wednesday . The company traded as high as $12.10 and last traded at $12.10, with a volume of 538 shares changing hands. The stock had previously closed at $11.73.

Analysts Set New Price Targets

GCMG has been the topic of several research analyst reports. TD Cowen upped their price objective on GCM Grosvenor from $12.00 to $14.00 and gave the company a “buy” rating in a research report on Friday, August 9th. Oppenheimer upped their target price on shares of GCM Grosvenor from $14.00 to $18.00 and gave the stock an “outperform” rating in a research note on Wednesday, October 16th. UBS Group lifted their price target on shares of 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 increased their price objective on GCM Grosvenor from $10.50 to $11.50 and gave the stock a “neutral” rating in a research note on Wednesday, October 9th. Finally, JPMorgan Chase & Co. lowered their target price on GCM Grosvenor from $10.50 to $10.00 and set a “neutral” rating for the company in a report on Monday, August 12th. Three investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $13.10.

GCM Grosvenor Price Performance

The stock has a market cap of $2.26 billion, a price-to-earnings ratio of -234.60 and a beta of 0.54. The stock has a fifty day moving average of $11.26 and a 200 day moving average of $10.51.

GCM Grosvenor (NASDAQ:GCMG) last issued its quarterly earnings data on Thursday, August 8th. The company reported $0.14 EPS for the quarter, topping analysts’ consensus estimates of $0.12 by $0.02. GCM Grosvenor had a net margin of 3.46% and a negative return on equity of 73.82%. The business had revenue of $116.95 million for the quarter, compared to analysts’ expectations of $117.12 million. As a group, equities analysts expect that GCM Grosvenor Inc. will post 0.49 earnings per share for the current fiscal year.

Insider Buying and Selling at GCM Grosvenor

In other GCM Grosvenor news, insider Kathleen Patricia Sullivan sold 5,000 shares of the stock in a transaction that occurred on Monday, September 9th. The stock was sold at an average price of $10.73, for a total transaction of $53,650.00. Following the transaction, the insider now owns 47,307 shares in the company, valued at approximately $507,604.11. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 77.30% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On GCM Grosvenor

A number of hedge funds have recently made changes to their positions in GCMG. Copeland Capital Management LLC acquired a new stake in shares of GCM Grosvenor in the third quarter valued at about $58,000. LRI Investments LLC purchased a new stake in shares of GCM Grosvenor in the 1st quarter valued at approximately $95,000. Price T Rowe Associates Inc. MD lifted its holdings in shares of GCM Grosvenor by 23.1% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 12,461 shares of the company’s stock worth $121,000 after acquiring an additional 2,341 shares during the last quarter. Quadrature Capital Ltd boosted its position in shares of GCM Grosvenor by 10.5% during the 1st quarter. Quadrature Capital Ltd now owns 14,401 shares of the company’s stock worth $139,000 after purchasing an additional 1,364 shares during the period. Finally, Susquehanna Fundamental Investments LLC acquired a new stake in GCM Grosvenor in the 2nd quarter valued at approximately $157,000. 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.