GCM Grosvenor (NASDAQ:GCMG) Stock Rating Upgraded by Wall Street Zen

Key Points

• Wall Street Zen upgraded GCM Grosvenor from “hold” to “buy.” Analysts’ average rating is “Moderate Buy,” with an average price target of $15.12.
• GCM Grosvenor beat quarterly estimates, reporting earnings of $0.22 per share versus $0.21 expected and revenue of $145.55 million versus $141.60 million expected.
• Company insiders sold 90,000 shares worth about $1.16 million over the last quarter; insiders retain 70.7% of the stock.

GCM Grosvenor (NASDAQ:GCMG - Get Free Report) was upgraded by equities research analysts at Wall Street Zen from a "hold" rating to a "buy" rating in a report issued on Saturday, Wall Street Zen reports.

GCMG has been the subject of several other research reports. Piper Sandler lifted their price target on shares of GCM Grosvenor from $14.50 to $15.00 and gave the stock an "overweight" rating in a research report on Tuesday. Weiss Ratings restated a "buy (b)" rating on shares of GCM Grosvenor in a report on Wednesday. Oppenheimer cut their price objective on shares of GCM Grosvenor from $18.00 to $17.00 and set an "outperform" rating on the stock in a report on Friday, July 17th. Finally, JPMorgan Chase & Co. raised their price objective on shares of GCM Grosvenor from $13.00 to $14.50 and gave the company a "neutral" rating in a research note on Tuesday. Four research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company's stock. According to MarketBeat, GCM Grosvenor currently has an average rating of "Moderate Buy" and an average price target of $15.12.

GCM Grosvenor Price Performance

GCM Grosvenor stock opened at $13.50 on Friday. The business's 50-day simple moving average is $12.90 and its 200 day simple moving average is $11.96. The stock has a market cap of $2.74 billion, a price-to-earnings ratio of 25.47 and a beta of 0.91. GCM Grosvenor has a 12-month low of $9.30 and a 12-month high of $14.87. The company has a quick ratio of 1.89, a current ratio of 3.26 and a debt-to-equity ratio of 2.36.

GCM Grosvenor (NASDAQ:GCMG - Get Free Report) last announced its quarterly earnings data on Monday, November 9th. The company reported $0.22 earnings per share for the quarter, topping the consensus estimate of $0.21 by $0.01. GCM Grosvenor had a return on equity of 106.70% and a net margin of 7.95%. The firm had revenue of $145.55 million during the quarter, compared to analysts' expectations of $141.60 million. As a group, research analysts anticipate that GCM Grosvenor will post 0.69 earnings per share for the current year.

Insider Activity at GCM Grosvenor

In other GCM Grosvenor news, CFO Pamela L. Bentley sold 40,000 shares of the firm'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 transaction of $502,400.00. Following the sale, the chief financial officer directly owned 24,397 shares in the company, valued at approximately $306,426.32. This trade represents a 62.11% decrease in their position. The sale was disclosed in a filing with the SEC, 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 firm's stock in a transaction that occurred on Wednesday, September 2nd. The stock was sold at an average price of $13.15, for a total transaction of $328,263.45. Following the sale, the insider owned 59,832 shares in the company, valued at $786,790.80. This trade represents a 29.44% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 90,000 shares of company stock valued at $1,155,350 over the last quarter. 70.70% of the stock is owned by insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in GCMG. First Trust Advisors LP bought a new stake in shares of GCM Grosvenor during the third quarter worth $3,494,000. Ieq Capital LLC raised its holdings in shares of GCM Grosvenor by 36.4% during the third quarter. Ieq Capital LLC now owns 42,964 shares of the company's stock worth $554,000 after acquiring an additional 11,458 shares during the period. Russell Investments Group Ltd. raised its holdings in shares of GCM Grosvenor by 20.9% during the third quarter. Russell Investments Group Ltd. now owns 329,696 shares of the company's stock worth $4,250,000 after acquiring an additional 57,040 shares during the period. State of Wyoming raised its holdings in shares of GCM Grosvenor by 41.4% during the third quarter. State of Wyoming now owns 55,029 shares of the company's stock worth $709,000 after acquiring an additional 16,114 shares during the period. Finally, Sterling Capital Management LLC lifted its position in GCM Grosvenor by 525.8% in the 3rd quarter. Sterling Capital Management LLC now owns 1,965 shares of the company's stock valued at $25,000 after acquiring an additional 1,651 shares in the last quarter. Institutional investors and hedge funds own 99.95% of the company's stock.

About GCM Grosvenor

GCM Grosvenor is an alternative asset management firm that provides investment solutions across private markets and hedge fund strategies. Its offerings include private equity, infrastructure, real estate and credit investments, as well as customized portfolios and multi-manager strategies. The firm invests on behalf of institutional investors and other clients through primary investments, co-investments and secondary-market transactions. Its activities span global markets, with offices in North America, Europe and Asia.

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