GCM Grosvenor (NASDAQ:GCMG) Price Target Increased to $11.50 by Analysts at TD Cowen

GCM Grosvenor (NASDAQ:GCMG) had its price target raised by stock analysts at TD Cowen from $11.00 to $11.50 in a research note issued to investors on Thursday, Benzinga reports. The brokerage currently has a “buy” rating on the stock. TD Cowen’s target price would suggest a potential upside of 14.77% from the stock’s current price.

Other analysts have also recently issued reports about the company. UBS Group upped their price target on GCM Grosvenor from $9.00 to $9.50 and gave the company a “neutral” rating in a research report on Friday, April 12th. Oppenheimer dropped their price objective on shares of GCM Grosvenor from $13.00 to $12.00 and set an “outperform” rating for the company in a report on Wednesday, February 14th.

GCM Grosvenor Stock Performance

Shares of NASDAQ:GCMG traded down $0.10 during trading on Thursday, hitting $10.02. 49,708 shares of the stock were exchanged, compared to its average volume of 172,889. GCM Grosvenor has a 1-year low of $6.56 and a 1-year high of $10.20. The company has a market capitalization of $1.88 billion, a price-to-earnings ratio of -34.48 and a beta of 0.51. The company’s fifty day simple moving average is $9.20 and its 200-day simple moving average is $8.79.

GCM Grosvenor (NASDAQ:GCMG) last announced its quarterly earnings data on Tuesday, February 13th. The company reported $0.08 earnings per share for the quarter, missing the consensus estimate of $0.16 by ($0.08). GCM Grosvenor had a negative return on equity of 76.61% and a net margin of 2.87%. The firm had revenue of $116.56 million for the quarter, compared to analyst estimates of $127.29 million. On average, research analysts forecast that GCM Grosvenor will post 0.54 earnings per share for the current fiscal year.

Institutional Trading of GCM Grosvenor

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Blair William & Co. IL increased its holdings in shares of GCM Grosvenor by 35.6% in the first quarter. Blair William & Co. IL now owns 164,442 shares of the company’s stock valued at $1,589,000 after purchasing an additional 43,207 shares in the last quarter. Russell Investments Group Ltd. grew its holdings in GCM Grosvenor by 23.7% during the 1st quarter. Russell Investments Group Ltd. now owns 681,202 shares of the company’s stock worth $6,580,000 after acquiring an additional 130,547 shares during the period. GSA Capital Partners LLP acquired a new stake in GCM Grosvenor during the 1st quarter worth $873,000. Wasatch Advisors LP grew its holdings in GCM Grosvenor by 111.5% during the 1st quarter. Wasatch Advisors LP now owns 2,342,156 shares of the company’s stock worth $22,625,000 after acquiring an additional 1,234,505 shares during the period. Finally, Quadrature Capital Ltd acquired a new stake in GCM Grosvenor during the 4th quarter worth $117,000. 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.