GCM Grosvenor (NASDAQ:GCMG) Cut to Hold at Wall Street Zen

Key Points

• Wall Street Zen downgraded GCM Grosvenor from “Buy” to “Hold.” Despite the downgrade, the broader analyst consensus remains “Moderate Buy,” with four Buy ratings and one Hold rating and an average target price of $15.00.
• GCM Grosvenor reported quarterly EPS of $0.19, exceeding the $0.18 estimate, while revenue of $134.34 million also topped expectations. The stock opened at $13.20 and has traded between $9.30 and $14.87 over the past year.
• Insiders sold 90,000 shares worth approximately $1.16 million during the quarter, while hedge funds and institutional investors own 99.95% of the company’s outstanding shares.

GCM Grosvenor (NASDAQ:GCMG - Get Free Report) was downgraded by Wall Street Zen from a "buy" rating to a "hold" rating in a note issued to investors on Saturday, Wall Street Zen reports.

Other equities analysts also recently issued research reports about the company. Oppenheimer cut their target price on GCM Grosvenor from $18.00 to $17.00 and set an "outperform" rating on the stock in a research report on Friday, July 17th. JPMorgan Chase & Co. upped their price target on shares of GCM Grosvenor from $12.00 to $13.00 and gave the company a "neutral" rating in a report on Tuesday, August 11th. Piper Sandler increased their price objective on shares of GCM Grosvenor from $15.00 to $16.00 and gave the stock an "overweight" rating in a research report on Tuesday, August 11th. Finally, Weiss Ratings raised shares of GCM Grosvenor from a "buy (b-)" rating to a "buy (b)" rating in a research report on Thursday, August 13th. Four equities research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company. Based on data from MarketBeat, GCM Grosvenor currently has an average rating of "Moderate Buy" and a consensus target price of $15.00.

GCM Grosvenor Price Performance

Shares of GCM Grosvenor stock opened at $13.20 on Friday. The stock has a 50 day moving average of $13.29 and a 200 day moving average of $12.02. GCM Grosvenor has a 12 month low of $9.30 and a 12 month high of $14.87. The firm has a market cap of $2.68 billion, a PE ratio of 25.39 and a beta of 0.87. The company has a current ratio of 1.89, a quick ratio of 1.89 and a debt-to-equity ratio of 2.96.

GCM Grosvenor (NASDAQ:GCMG - Get Free Report) last issued its quarterly earnings data on Monday, August 10th. The company reported $0.19 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.18 by $0.01. GCM Grosvenor had a return on equity of 142.74% and a net margin of 7.79%. The business had revenue of $134.34 million for the quarter, compared to analysts' expectations of $131.21 million. On average, research analysts expect that GCM Grosvenor will post 0.70 EPS for the current fiscal year.

Insider Activity

In other news, CFO Pamela L. Bentley sold 40,000 shares of the company's stock in a transaction that occurred on Tuesday, September 15th. The shares were sold at an average price of $12.56, for a total value of $502,400.00. Following the completion of the sale, the chief financial officer owned 24,397 shares of the company's stock, valued at approximately $306,426.32. This represents a 62.11% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Kathleen Sullivan sold 24,963 shares of the stock in a transaction that occurred on Wednesday, September 2nd. The shares were sold at an average price of $13.15, for a total transaction of $328,263.45. Following the transaction, the insider owned 59,832 shares in the company, valued at approximately $786,790.80. This represents a 29.44% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last quarter, insiders have sold 90,000 shares of company stock worth $1,155,350. 70.70% of the stock is owned by company insiders.

Hedge Funds Weigh In On GCM Grosvenor

Several institutional investors have recently bought and sold shares of the business. Renaissance Technologies LLC boosted its stake in GCM Grosvenor by 0.5% in the 1st quarter. Renaissance Technologies LLC now owns 243,700 shares of the company's stock worth $2,388,000 after purchasing an additional 1,200 shares in the last quarter. Squarepoint Ops LLC increased its stake in GCM Grosvenor by 15.9% during the 2nd quarter. Squarepoint Ops LLC now owns 19,772 shares of the company's stock valued at $243,000 after purchasing an additional 2,719 shares in the last quarter. Integrated Wealth Concepts LLC acquired a new position in GCM Grosvenor during the 2nd quarter valued at approximately $35,000. Bank of America Corp DE raised its holdings in shares of GCM Grosvenor by 8.8% in the first quarter. Bank of America Corp DE now owns 94,185 shares of the company's stock worth $923,000 after buying an additional 7,607 shares during the last quarter. Finally, Levin Capital Strategies L.P. purchased a new position in shares of GCM Grosvenor in the first quarter worth $98,000. 99.95% of the stock is owned by hedge funds and other institutional investors.

About GCM Grosvenor

GCM Grosvenor is a global alternative asset management firm that provides investment solutions for institutional investors, family offices, financial intermediaries and other qualified investors. The company manages portfolios across private equity, infrastructure, real estate, absolute return strategies and other alternative investments.

Its offerings include customized multi-strategy portfolios, direct and secondary investments, co-investments and specialized strategies designed to provide access to private markets and alternative sources of return.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.