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

Key Points

• Wall Street Zen downgraded GCM Grosvenor from “Buy” to “Hold,” although the broader analyst consensus remains “Moderate Buy” with a $15.00 target price.
• GCM Grosvenor recently beat quarterly expectations, reporting $0.19 in EPS versus the $0.18 estimate and revenue of $134.34 million against the $131.21 million consensus.
• Insiders sold 90,000 shares worth approximately $1.16 million over the past three months, while institutional investors own 99.95% of the company’s stock.

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

A number of other research analysts also recently commented on the stock. Oppenheimer lowered 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. TD Cowen boosted their price objective on GCM Grosvenor from $13.50 to $14.00 and gave the stock a "buy" rating in a research note on Tuesday, May 26th. Piper Sandler upped their price objective on GCM Grosvenor from $15.00 to $16.00 and gave the company an "overweight" rating in a research report on Tuesday, August 11th. Weiss Ratings raised GCM Grosvenor from a "buy (b-)" rating to a "buy (b)" rating in a research note on Thursday, August 13th. Finally, JPMorgan Chase & Co. lifted their target price on GCM Grosvenor from $12.00 to $13.00 and gave the stock a "neutral" rating in a report on Tuesday, August 11th. Four research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company's stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $15.00.

GCM Grosvenor Trading Up 1.6%

Shares of GCMG opened at $13.14 on Friday. The company's fifty day moving average is $13.20 and its 200 day moving average is $11.79. GCM Grosvenor has a fifty-two week low of $9.30 and a fifty-two week high of $14.87. The stock has a market capitalization of $2.66 billion, a PE ratio of 25.27 and a beta of 0.83. The company has a debt-to-equity ratio of 2.96, a quick ratio of 1.89 and a current ratio of 1.89.

GCM Grosvenor (NASDAQ:GCMG - Get Free Report) last released its quarterly earnings data on Monday, August 10th. The company reported $0.19 EPS for the quarter, beating the consensus estimate of $0.18 by $0.01. GCM Grosvenor had a net margin of 7.79% and a return on equity of 142.74%. The business had revenue of $134.34 million during the quarter, compared to analyst estimates of $131.21 million. Sell-side analysts expect that GCM Grosvenor will post 0.7 earnings per share for the current fiscal year.

Insider Activity

In other GCM Grosvenor news, insider Kathleen Sullivan sold 15,037 shares of the business's stock in a transaction that occurred on Thursday, September 3rd. The stock was sold at an average price of $13.16, for a total transaction of $197,886.92. Following the completion of the transaction, the insider owned 44,795 shares in the company, valued at $589,502.20. The trade was a 25.13% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CFO Pamela Bentley sold 10,000 shares of the company's stock in a transaction that occurred on Wednesday, September 16th. The shares were sold at an average price of $12.68, for a total value of $126,800.00. Following the transaction, the chief financial officer directly owned 14,397 shares in the company, valued at approximately $182,553.96. This represents a 40.99% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last three months, insiders sold 90,000 shares of company stock valued at $1,155,350. 70.70% of the stock is owned by insiders.

Institutional Trading of GCM Grosvenor

Institutional investors and hedge funds have recently made changes to their positions in the business. Renaissance Technologies LLC grew its holdings in shares of GCM Grosvenor by 0.5% in the first 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 during the last quarter. Squarepoint Ops LLC lifted its holdings 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 buying an additional 2,719 shares in the last quarter. Integrated Wealth Concepts LLC purchased a new stake in GCM Grosvenor in the 2nd quarter valued at about $35,000. Bank of America Corp DE boosted its position in GCM Grosvenor by 8.8% in the 1st quarter. Bank of America Corp DE now owns 94,185 shares of the company's stock valued at $923,000 after buying an additional 7,607 shares during the period. Finally, Levin Capital Strategies L.P. bought a new position in GCM Grosvenor in the 1st quarter worth about $98,000. 99.95% of the stock is currently owned by institutional investors.

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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