Bank of New York Mellon Corp Invests $4.23 Million in GCM Grosvenor Inc. $GCMG

Key Points

• Bank of New York Mellon acquired 343,587 shares of GCM Grosvenor worth approximately $4.23 million, while institutional investors collectively own 99.95% of the company.
• GCM Grosvenor exceeded quarterly expectations, reporting $0.19 in EPS versus the $0.18 consensus and revenue of $134.34 million versus $131.21 million expected.
• The company declared a quarterly dividend of $0.12, or $0.48 annually, yielding about 3.6%. Analysts maintain a “Moderate Buy” consensus with an average price target of $15, above the reported $13.27 share price.

Bank of New York Mellon Corp acquired a new position in GCM Grosvenor Inc. (NASDAQ:GCMG - Free Report) in the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund acquired 343,587 shares of the company's stock, valued at approximately $4,226,000. Bank of New York Mellon Corp owned 0.17% of GCM Grosvenor at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of the company. UBS Group AG boosted its holdings in shares of GCM Grosvenor by 438.3% in the third quarter. UBS Group AG now owns 1,833,941 shares of the company's stock worth $22,136,000 after buying an additional 1,493,250 shares during the last quarter. Goldman Sachs Group Inc. increased its stake in shares of GCM Grosvenor by 145.6% in the 4th quarter. Goldman Sachs Group Inc. now owns 1,529,439 shares of the company's stock worth $17,313,000 after purchasing an additional 906,608 shares in the last quarter. Millennium Management LLC increased its stake in shares of GCM Grosvenor by 231.0% in the 3rd quarter. Millennium Management LLC now owns 1,290,222 shares of the company's stock worth $15,573,000 after purchasing an additional 900,458 shares in the last quarter. Qube Research & Technologies Ltd raised its holdings in GCM Grosvenor by 200.0% in the 3rd quarter. Qube Research & Technologies Ltd now owns 706,848 shares of the company's stock worth $8,532,000 after purchasing an additional 471,223 shares during the period. Finally, Victory Capital Management Inc. raised its holdings in GCM Grosvenor by 3,351.9% in the 3rd quarter. Victory Capital Management Inc. now owns 326,278 shares of the company's stock worth $3,938,000 after purchasing an additional 316,826 shares during the period. Hedge funds and other institutional investors own 99.95% of the company's stock.

GCM Grosvenor Stock Performance

NASDAQ:GCMG opened at $13.27 on Friday. The stock has a 50-day moving average price of $13.24 and a 200 day moving average price of $11.71. The stock has a market capitalization of $2.69 billion, a P/E ratio of 25.52 and a beta of 0.83. GCM Grosvenor Inc. has a 12-month low of $9.30 and a 12-month high of $14.87. 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 (NASDAQ:GCMG - Get Free Report) last posted its quarterly earnings results on Monday, August 10th. The company reported $0.19 EPS for the quarter, topping analysts' consensus estimates of $0.18 by $0.01. The company had revenue of $134.34 million for 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 forecast that GCM Grosvenor Inc. will post 0.7 EPS for the current fiscal year.

GCM Grosvenor Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, September 15th. Shareholders of record on Tuesday, September 1st will be paid a $0.12 dividend. The ex-dividend date is Tuesday, September 1st. This represents a $0.48 annualized dividend and a yield of 3.6%. GCM Grosvenor's payout ratio is presently 92.31%.

Analysts Set New Price Targets

Several analysts have issued reports on the company. Weiss Ratings raised GCM Grosvenor from a "buy (b-)" rating to a "buy (b)" rating in a report on Thursday, August 13th. Oppenheimer decreased their price objective on GCM Grosvenor from $18.00 to $17.00 and set an "outperform" rating on the stock in a research note on Friday, July 17th. TD Cowen lifted their price objective on GCM Grosvenor from $13.50 to $14.00 and gave the company a "buy" rating in a research report on Tuesday, May 26th. JPMorgan Chase & Co. boosted their price objective on GCM Grosvenor from $12.00 to $13.00 and gave the company a "neutral" rating in a research note on Tuesday, August 11th. Finally, Wall Street Zen raised shares of GCM Grosvenor from a "hold" rating to a "buy" rating in a report on Saturday, August 29th. Four research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the stock. According to data from MarketBeat, GCM Grosvenor has an average rating of "Moderate Buy" and an average price target of $15.00.

Insider Activity at GCM Grosvenor

In other GCM Grosvenor news, insider Kathleen Sullivan sold 24,963 shares of the 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 owned 59,832 shares of the company's stock, valued at $786,790.80. This represents a 29.44% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 70.70% of the stock is owned by company insiders.

About GCM Grosvenor

GCM Grosvenor is a global alternative asset management firm that specializes in customized investment solutions across a range of private markets and hedge fund strategies. The firm partners with institutional clients—including pension funds, endowments, insurers and sovereign wealth funds—to design and implement portfolios that span private equity, infrastructure, real estate, credit and multi‐strategy hedge fund products. Through its multi‐manager platforms and direct co‐investment vehicles, GCM Grosvenor provides diversified access to opportunities that can enhance returns and manage risk in client portfolios.

Founded in 1971 as Grosvenor Capital Management, the firm has built a track record of sourcing, structuring and monitoring alternative investments on behalf of its clients.

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