GCM Grosvenor (NASDAQ:GCMG) Upgraded to Buy at Wall Street Zen

Key Points

• Wall Street Zen upgraded GCM Grosvenor to “buy” from “hold.” The stock has a consensus “Moderate Buy” rating from analysts, with an average price target of $15.00.
• GCM Grosvenor reported quarterly earnings of $0.19 per share, topping estimates by $0.01, while revenue of $134.34 million exceeded expectations of $131.21 million.
• The shares opened at $13.04, near their 50-day average of $13.15, while insiders sold 90,000 shares worth approximately $1.16 million over the past three months.

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

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

GCM Grosvenor Stock Performance

NASDAQ:GCMG opened at $13.04 on Friday. The stock's 50-day moving average is $13.15 and its 200-day moving average is $11.84. 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 has a 1-year low of $9.30 and a 1-year high of $14.87. The stock has a market cap of $2.64 billion, a P/E ratio of 25.08 and a beta of 0.83.

GCM Grosvenor (NASDAQ:GCMG - Get Free Report) last announced its quarterly earnings results on Monday, August 10th. The company reported $0.19 earnings per share for the quarter, beating the consensus estimate of $0.18 by $0.01. The company had revenue of $134.34 million during the quarter, compared to analysts' expectations of $131.21 million. GCM Grosvenor had a return on equity of 142.74% and a net margin of 7.79%. Equities research analysts anticipate that GCM Grosvenor will post 0.7 earnings per share for the current year.

Insiders Place Their Bets

In other news, CFO Pamela L. Bentley sold 40,000 shares of the company's stock in a transaction dated Tuesday, September 15th. The stock was sold at an average price of $12.56, for a total value of $502,400.00. Following the completion of the transaction, the chief financial officer directly owned 24,397 shares in the company, valued at approximately $306,426.32. This represents a 62.11% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed 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 company's stock in a transaction dated Wednesday, September 2nd. The stock was sold at an average price of $13.15, for a total value of $328,263.45. Following the completion of the transaction, the insider owned 59,832 shares of the company's stock, valued at $786,790.80. The trade was a 29.44% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last three months, insiders sold 90,000 shares of company stock worth $1,155,350. 70.70% of the stock is owned by insiders.

Institutional Trading of GCM Grosvenor

A number of hedge funds have recently bought and sold shares of the company. QRG Capital Management Inc. bought a new position in GCM Grosvenor during the second quarter valued at approximately $129,000. Integrated Wealth Concepts LLC bought a new position in GCM Grosvenor in the 2nd quarter worth $35,000. Squarepoint Ops LLC raised its stake in GCM Grosvenor by 15.9% in the second quarter. Squarepoint Ops LLC now owns 19,772 shares of the company's stock worth $243,000 after buying an additional 2,719 shares in the last quarter. Corient Private Wealth LP bought a new position in shares of GCM Grosvenor in the 2nd quarter worth approximately $444,000. Finally, Dearborn Partners LLC bought a new position in GCM Grosvenor in the second quarter worth $211,000. Institutional investors own 99.95% of the company's stock.

GCM Grosvenor Company Profile

GCM Grosvenor is a global alternative asset management firm that provides investment solutions across private equity, infrastructure, real estate and absolute return strategies. The company invests through a range of approaches, including primary fund investments, secondary transactions, direct investments and co-investments.

Founded in 1997, GCM Grosvenor serves institutional investors, including pension funds, endowments, foundations, sovereign wealth funds and insurance companies, as well as family offices and wealth management platforms.

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