Envestnet Asset Management Inc. Invests $295,000 in GCM Grosvenor Inc. (NASDAQ:GCMG)

Envestnet Asset Management Inc. purchased a new position in GCM Grosvenor Inc. (NASDAQ:GCMG - Free Report) during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm purchased 24,040 shares of the company's stock, valued at approximately $295,000.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Arrowstreet Capital Limited Partnership boosted its position in GCM Grosvenor by 40.0% during the 4th quarter. Arrowstreet Capital Limited Partnership now owns 404,562 shares of the company's stock valued at $4,964,000 after acquiring an additional 115,546 shares in the last quarter. Blair William & Co. IL boosted its position in GCM Grosvenor by 0.6% during the fourth quarter. Blair William & Co. IL now owns 225,695 shares of the company's stock valued at $2,769,000 after purchasing an additional 1,270 shares in the last quarter. JPMorgan Chase & Co. grew its stake in GCM Grosvenor by 87.1% in the fourth quarter. JPMorgan Chase & Co. now owns 188,925 shares of the company's stock valued at $2,318,000 after purchasing an additional 87,945 shares during the last quarter. Charles Schwab Investment Management Inc. raised its holdings in GCM Grosvenor by 2.3% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 123,112 shares of the company's stock worth $1,511,000 after purchasing an additional 2,795 shares in the last quarter. Finally, American Century Companies Inc. bought a new position in GCM Grosvenor in the fourth quarter worth about $1,437,000. Institutional investors own 99.95% of the company's stock.

GCM Grosvenor Stock Performance

Shares of GCMG traded up $0.15 during trading hours on Friday, hitting $12.49. 374,192 shares of the stock were exchanged, compared to its average volume of 284,515. The stock's 50-day moving average price is $12.75 and its two-hundred day moving average price is $12.73. GCM Grosvenor Inc. has a 12-month low of $9.25 and a 12-month high of $14.48. The company has a market cap of $2.36 billion, a price-to-earnings ratio of 416.33 and a beta of 0.74.

GCM Grosvenor (NASDAQ:GCMG - Get Free Report) last posted its quarterly earnings results on Monday, February 10th. The company reported $0.21 earnings per share for the quarter, missing analysts' consensus estimates of $0.22 by ($0.01). GCM Grosvenor had a negative return on equity of 101.23% and a net margin of 3.64%. On average, research analysts expect that GCM Grosvenor Inc. will post 0.64 earnings per share for the current year.

GCM Grosvenor Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, June 16th. Investors of record on Friday, June 6th will be given a dividend of $0.11 per share. The ex-dividend date of this dividend is Friday, June 6th. This represents a $0.44 dividend on an annualized basis and a yield of 3.52%. GCM Grosvenor's payout ratio is 1,466.67%.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently issued reports on GCMG shares. Piper Sandler reduced their price target on GCM Grosvenor from $16.00 to $14.50 and set an "overweight" rating on the stock in a research report on Tuesday, April 8th. UBS Group lifted their price objective on shares of GCM Grosvenor from $13.00 to $14.00 and gave the company a "neutral" rating in a research note on Wednesday, February 19th. Finally, Oppenheimer increased their price target on GCM Grosvenor from $16.00 to $17.00 and gave the stock an "outperform" rating in a research report on Friday. Three research analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. According to data from MarketBeat, GCM Grosvenor has an average rating of "Hold" and a consensus target price of $13.60.

About GCM Grosvenor

GCM Grosvenor Inc is global alternative asset management solutions provider. The firm primarily provides its services to pooled investment vehicles. It also provides its services to investment companies, high net worth individuals, pension and profit sharing plans and state or municipal government entities.