GCM Grosvenor (NASDAQ:GCMG) Issues Quarterly Earnings Results

Key Points

• GCM Grosvenor beat quarterly estimates: Earnings were $0.22 per share versus $0.21 expected, while revenue of $145.55 million exceeded the $141.60 million consensus.
• Analyst sentiment remains moderately positive: MarketBeat reports a “Moderate Buy” consensus and an average price target of $14.62, though some firms recently lowered their targets or ratings.
• Insiders sold shares: Company insiders sold 90,000 shares worth about $1.16 million over the quarter; insiders still own 70.70% of the stock.

GCM Grosvenor (NASDAQ:GCMG - Get Free Report) posted its earnings results on Monday. The company reported $0.22 EPS for the quarter, topping the consensus estimate of $0.21 by $0.01, FiscalAI reports. The firm had revenue of $145.55 million during the quarter, compared to analysts' expectations of $141.60 million. GCM Grosvenor had a net margin of 7.79% and a return on equity of 142.74%.

GCM Grosvenor Price Performance

NASDAQ:GCMG opened at $12.66 on Monday. The firm's 50-day moving average price is $12.87 and its 200-day moving average price is $11.90. The company has a market capitalization of $2.57 billion, a PE ratio of 24.35 and a beta of 0.91. The company has a debt-to-equity ratio of 2.96, a current ratio of 1.89 and a quick ratio of 1.89. GCM Grosvenor has a 1-year low of $9.30 and a 1-year high of $14.87.

Insider Activity

In related news, insider Kathleen Sullivan sold 24,963 shares of GCM Grosvenor stock in a transaction dated Wednesday, September 2nd. The shares were sold at an average price of $13.15, for a total transaction of $328,263.45. Following the completion of the transaction, the insider directly owned 59,832 shares of the company's stock, valued at $786,790.80. This trade represents a 29.44% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CFO Pamela Bentley sold 40,000 shares of the business's stock in a transaction dated Tuesday, September 15th. The stock was 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 $306,426.32. The trade was a 62.11% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last quarter, insiders sold 90,000 shares of company stock valued at $1,155,350. 70.70% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

GCMG has been the topic of several research analyst reports. Wall Street Zen cut shares of GCM Grosvenor from a "buy" rating to a "hold" rating in a research report on Saturday, October 10th. Oppenheimer lowered their price objective 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. Piper Sandler cut their price objective on GCM Grosvenor from $16.00 to $14.50 and set an "overweight" rating on the stock in a research report on Monday, October 19th. Weiss Ratings upgraded GCM Grosvenor from a "buy (b-)" rating to a "buy (b)" rating in a report on Thursday, August 13th. Finally, JPMorgan Chase & Co. increased their target price on GCM Grosvenor from $12.00 to $13.00 and gave the stock a "neutral" rating in a research 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, GCM Grosvenor presently has an average rating of "Moderate Buy" and an average price target of $14.62.

GCM Grosvenor Company Profile

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.

Founded in 1971, the firm traces its roots to Grosvenor Capital Management.

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