Balyasny Asset Management L.P. Purchases New Stake in GCM Grosvenor Inc. (NASDAQ:GCMG)

Balyasny Asset Management L.P. acquired a new position in GCM Grosvenor Inc. (NASDAQ:GCMG - Free Report) during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund acquired 22,437 shares of the company's stock, valued at approximately $275,000.

A number of other institutional investors and hedge funds have also recently modified their holdings of GCMG. JPMorgan Chase & Co. boosted its stake in GCM Grosvenor by 232.0% during the third quarter. JPMorgan Chase & Co. now owns 100,980 shares of the company's stock valued at $1,143,000 after buying an additional 70,565 shares during the period. SG Americas Securities LLC grew its position in GCM Grosvenor by 20.1% during the 4th quarter. SG Americas Securities LLC now owns 20,223 shares of the company's stock valued at $248,000 after purchasing an additional 3,379 shares during the last quarter. Fifth Third Bancorp purchased a new stake in GCM Grosvenor during the 4th quarter valued at $199,000. R Squared Ltd bought a new stake in shares of GCM Grosvenor in the 4th quarter worth $57,000. Finally, Longboard Asset Management LP purchased a new position in shares of GCM Grosvenor in the fourth quarter worth $166,000. 99.95% of the stock is currently owned by institutional investors.

GCM Grosvenor Trading Down 0.2%

Shares of NASDAQ:GCMG traded down $0.02 on Wednesday, reaching $12.51. The company had a trading volume of 537,762 shares, compared to its average volume of 289,060. The firm has a market capitalization of $2.37 billion, a PE ratio of 417.00 and a beta of 0.74. The firm's 50 day simple moving average is $12.71 and its 200-day simple moving average is $12.78. GCM Grosvenor Inc. has a 52-week low of $9.25 and a 52-week high of $14.48.

GCM Grosvenor Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, June 16th. Stockholders of record on Friday, June 6th will be given a dividend of $0.11 per share. This represents a $0.44 dividend on an annualized basis and a dividend yield of 3.52%. The ex-dividend date of this dividend is Friday, June 6th. GCM Grosvenor's dividend payout ratio (DPR) is presently 314.29%.

Analysts Set New Price Targets

Several equities research analysts have recently commented on the stock. UBS Group upped their price target on shares of GCM Grosvenor from $13.00 to $14.00 and gave the company a "neutral" rating in a research report on Wednesday, February 19th. Oppenheimer upped their target price on shares of GCM Grosvenor from $16.00 to $17.00 and gave the stock an "outperform" rating in a research report on Friday, May 9th. Finally, Piper Sandler dropped their price target on GCM Grosvenor from $16.00 to $14.50 and set an "overweight" rating for the company in a research note on Tuesday, April 8th. Three equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of "Hold" and a consensus price target of $13.60.

GCM Grosvenor Profile

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.