Cubist Systematic Strategies LLC Makes New $2.59 Million Investment in GCM Grosvenor Inc. $GCMG

Key Points

• Cubist Systematic Strategies LLC made a significant new investment in GCM Grosvenor Inc., purchasing 195,690 shares valued at approximately $2.59 million.
• GCM Grosvenor recently announced a quarterly dividend of $0.11 per share, representing a 3.4% dividend yield for investors.
• Analyst consensus ratings indicate a Moderate Buy for GCM Grosvenor, with a target price increase from <$strong>14.50 to $15.00.

Cubist Systematic Strategies LLC bought a new position in shares of GCM Grosvenor Inc. (NASDAQ:GCMG - Free Report) during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor bought 195,690 shares of the company's stock, valued at approximately $2,589,000. Cubist Systematic Strategies LLC owned approximately 0.10% of GCM Grosvenor as of its most recent SEC filing.

A number of other hedge funds also recently added to or reduced their stakes in the business. Royal Bank of Canada lifted its holdings in GCM Grosvenor by 942.2% during the 1st quarter. Royal Bank of Canada now owns 79,085 shares of the company's stock worth $1,046,000 after buying an additional 71,497 shares in the last quarter. Penn Capital Management Company LLC acquired a new stake in GCM Grosvenor during the 1st quarter worth approximately $7,086,000. Jump Financial LLC acquired a new stake in GCM Grosvenor during the 1st quarter worth approximately $288,000. AlphaQuest LLC lifted its holdings in GCM Grosvenor by 161.9% during the 1st quarter. AlphaQuest LLC now owns 38,699 shares of the company's stock worth $512,000 after buying an additional 23,924 shares in the last quarter. Finally, Martingale Asset Management L P lifted its holdings in GCM Grosvenor by 12.2% during the 1st quarter. Martingale Asset Management L P now owns 70,294 shares of the company's stock worth $930,000 after buying an additional 7,650 shares in the last quarter. 99.95% of the stock is currently owned by institutional investors and hedge funds.

GCM Grosvenor Trading Up 0.4%

Shares of GCMG opened at $12.77 on Friday. GCM Grosvenor Inc. has a twelve month low of $10.04 and a twelve month high of $14.48. The firm's fifty day simple moving average is $12.27 and its 200-day simple moving average is $12.55. The firm has a market capitalization of $2.48 billion, a price-to-earnings ratio of 85.13 and a beta of 0.75.

GCM Grosvenor Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, September 16th. Investors of record on Tuesday, September 2nd will be given a $0.11 dividend. This represents a $0.44 dividend on an annualized basis and a dividend yield of 3.4%. The ex-dividend date of this dividend is Tuesday, September 2nd. GCM Grosvenor's dividend payout ratio (DPR) is 293.33%.

Analyst Ratings Changes

GCMG has been the topic of a number of analyst reports. Piper Sandler raised their price objective on shares of GCM Grosvenor from $14.50 to $15.00 and gave the company an "overweight" rating in a report on Friday, August 8th. Oppenheimer restated an "outperform" rating on shares of GCM Grosvenor in a report on Friday, August 8th. Two analysts have rated the stock with a Buy rating and two have given a Hold rating to the company's stock. According to data from MarketBeat.com, GCM Grosvenor currently has an average rating of "Moderate Buy" and a consensus target price of $15.13.

Insider Activity at GCM Grosvenor

In related news, insider Kathleen Patricia Sullivan sold 6,000 shares of the stock in a transaction on Tuesday, August 12th. The shares were sold at an average price of $13.02, for a total value of $78,120.00. Following the transaction, the insider directly owned 60,195 shares of the company's stock, valued at $783,738.90. This trade represents a 9.06% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. 76.40% of the stock is owned by company insiders.

GCM Grosvenor Company 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.