GCM Grosvenor (NASDAQ:GCMG) Sets New 12-Month High – Here’s What Happened

Shares of GCM Grosvenor Inc. (NASDAQ:GCMG) hit a new 52-week high during trading on Friday . The company traded as high as $12.62 and last traded at $12.60, with a volume of 57044 shares trading hands. The stock had previously closed at $12.49.

Wall Street Analyst Weigh In

A number of research firms have recently issued reports on GCMG. Piper Sandler upgraded shares of GCM Grosvenor from a “neutral” rating to an “overweight” rating and boosted their price target for the company from $12.50 to $14.00 in a report on Monday, December 23rd. UBS Group lifted their price target on shares of GCM Grosvenor from $9.50 to $12.00 and gave the stock a “neutral” rating in a research note on Tuesday, October 22nd. TD Cowen downgraded GCM Grosvenor from a “buy” rating to a “hold” rating and reduced their target price for the stock from $13.50 to $12.50 in a report on Monday, November 11th. Finally, Oppenheimer lifted their target price on GCM Grosvenor from $18.00 to $20.00 and gave the company an “outperform” rating in a research note on Thursday, December 12th. Three analysts have rated the stock with a hold rating and two have given a buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $13.70.

GCM Grosvenor Price Performance

The company has a fifty day moving average of $12.09 and a 200-day moving average of $11.22. The firm has a market cap of $2.39 billion, a P/E ratio of -210.67 and a beta of 0.56.

GCM Grosvenor Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, December 16th. Investors of record on Monday, December 2nd were paid a $0.11 dividend. The ex-dividend date of this dividend was Monday, December 2nd. This represents a $0.44 dividend on an annualized basis and a yield of 3.48%. GCM Grosvenor’s dividend payout ratio is -733.33%.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the company. Millennium Management LLC lifted its position in GCM Grosvenor by 169.7% during the second quarter. Millennium Management LLC now owns 418,066 shares of the company’s stock valued at $4,080,000 after buying an additional 263,064 shares during the period. Barclays PLC boosted its stake in shares of GCM Grosvenor by 56.9% during the 3rd quarter. Barclays PLC now owns 113,823 shares of the company’s stock worth $1,288,000 after acquiring an additional 41,259 shares during the last quarter. Massachusetts Financial Services Co. MA raised its position in shares of GCM Grosvenor by 3.6% during the 3rd quarter. Massachusetts Financial Services Co. MA now owns 2,485,933 shares of the company’s stock valued at $28,141,000 after purchasing an additional 87,010 shares during the period. Ariel Investments LLC lifted its position in shares of GCM Grosvenor by 1.5% in the second quarter. Ariel Investments LLC now owns 4,546,096 shares of the company’s stock worth $44,370,000 after buying an additional 66,016 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. raised its holdings in GCM Grosvenor by 2.6% during the 3rd 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 period. Institutional investors 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.