GCM Grosvenor Inc. $GCMG Shares Sold by Goldman Sachs Group Inc.

Key Points

• Goldman Sachs Group Inc. reduced its holdings in GCM Grosvenor Inc. by 9.5% in the first quarter, now owning 334,642 shares valued at approximately $4.4 million.
• Multiple institutional investors, including MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. and EntryPoint Capital LLC, have adjusted their positions in GCM Grosvenor, reflecting changing strategies among large stakeholders.
• GCM Grosvenor has a current consensus price target of $15.13 with a "Moderate Buy" rating from analysts, following a recent price upgrade by Piper Sandler.

Goldman Sachs Group Inc. cut its holdings in GCM Grosvenor Inc. (NASDAQ:GCMG - Free Report) by 9.5% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 334,642 shares of the company's stock after selling 35,317 shares during the quarter. Goldman Sachs Group Inc. owned approximately 0.17% of GCM Grosvenor worth $4,427,000 as of its most recent SEC filing.

A number of other hedge funds also recently added to or reduced their stakes in GCMG. ProShare Advisors LLC purchased a new stake in GCM Grosvenor in the fourth quarter worth about $147,000. R Squared Ltd raised its holdings in GCM Grosvenor by 161.4% in the first quarter. R Squared Ltd now owns 12,206 shares of the company's stock worth $161,000 after purchasing an additional 7,536 shares in the last quarter. Argent Trust Co bought a new position in GCM Grosvenor in the first quarter worth about $172,000. EntryPoint Capital LLC raised its holdings in GCM Grosvenor by 10.2% in the first quarter. EntryPoint Capital LLC now owns 15,549 shares of the company's stock worth $206,000 after purchasing an additional 1,438 shares in the last quarter. Finally, BNP Paribas Financial Markets bought a new position in GCM Grosvenor in the fourth quarter worth about $223,000. 99.95% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other news, insider Kathleen Patricia Sullivan sold 6,000 shares of the company's stock in a transaction dated Tuesday, August 12th. The shares were sold at an average price of $13.02, for a total transaction of $78,120.00. Following the transaction, the insider owned 60,195 shares in the company, valued at $783,738.90. This represents a 9.06% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. 77.30% of the stock is currently owned by company insiders.

GCM Grosvenor Stock Down 1.2%

Shares of GCMG traded down $0.16 during mid-day trading on Friday, hitting $12.96. 1,919,155 shares of the company traded hands, compared to its average volume of 560,838. GCM Grosvenor Inc. has a 1-year low of $10.91 and a 1-year high of $14.48. The company has a market capitalization of $2.52 billion, a PE ratio of 86.40 and a beta of 0.75. The business has a 50 day moving average of $12.52 and a 200 day moving average of $12.46.

GCM Grosvenor Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, September 16th. Stockholders of record on Tuesday, September 2nd were issued a dividend of $0.11 per share. The ex-dividend date was Tuesday, September 2nd. This represents a $0.44 annualized dividend and a dividend yield of 3.4%. GCM Grosvenor's dividend payout ratio is 293.33%.

Wall Street Analyst Weigh In

GCMG has been the subject of a number of recent research reports. Oppenheimer reiterated an "outperform" rating on shares of GCM Grosvenor in a report on Friday, August 8th. Piper Sandler boosted their target price on shares of GCM Grosvenor from $14.50 to $15.00 and gave the stock an "overweight" rating in a report on Friday, August 8th. Two analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company. Based on data from MarketBeat.com, GCM Grosvenor presently has an average rating of "Moderate Buy" and an average price target of $15.13.

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.