JPMorgan Chase & Co. Buys 296,860 Shares of GCM Grosvenor Inc. $GCMG

Key Points

• JPMorgan Chase increased its stake in GCM Grosvenor by 104%, buying 296,860 shares to own 582,337 shares worth about $7.03 million (roughly 0.30% of the company).
• Other institutions also raised positions—most notably UBS (+438.3%, +1,493,250 shares) and Millennium Management (+231%, +900,458 shares)—with hedge funds and other institutional investors owning about 99.95% of the stock.
• GCM Grosvenor recently beat quarterly estimates (EPS $0.31 vs. $0.24; revenue $177.1M vs. $160.2M) and pays a quarterly dividend yielding 5.0%, though its dividend payout ratio is high at 129.73%.

JPMorgan Chase & Co. grew its stake in shares of GCM Grosvenor Inc. (NASDAQ:GCMG - Free Report) by 104.0% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 582,337 shares of the company's stock after purchasing an additional 296,860 shares during the period. JPMorgan Chase & Co. owned approximately 0.30% of GCM Grosvenor worth $7,029,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Ameriprise Financial Inc. raised its stake in GCM Grosvenor by 2.8% in the second quarter. Ameriprise Financial Inc. now owns 6,060,384 shares of the company's stock worth $70,058,000 after buying an additional 166,578 shares in the last quarter. Vanguard Group Inc. boosted its position in GCM Grosvenor by 2.5% during the 3rd quarter. Vanguard Group Inc. now owns 4,755,329 shares of the company's stock valued at $57,397,000 after acquiring an additional 114,983 shares in the last quarter. Ariel Investments LLC boosted its position in GCM Grosvenor by 0.5% during the 2nd quarter. Ariel Investments LLC now owns 4,452,562 shares of the company's stock valued at $51,472,000 after acquiring an additional 23,307 shares in the last quarter. UBS Group AG grew its holdings in shares of GCM Grosvenor by 438.3% during the 3rd quarter. UBS Group AG now owns 1,833,941 shares of the company's stock worth $22,136,000 after acquiring an additional 1,493,250 shares during the period. Finally, Millennium Management LLC grew its holdings in shares of GCM Grosvenor by 231.0% during the 3rd quarter. Millennium Management LLC now owns 1,290,222 shares of the company's stock worth $15,573,000 after acquiring an additional 900,458 shares during the period. Hedge funds and other institutional investors own 99.95% of the company's stock.

GCM Grosvenor Trading Up 2.4%

NASDAQ:GCMG opened at $9.68 on Tuesday. The firm has a market capitalization of $1.96 billion, a P/E ratio of 26.16 and a beta of 0.80. The company has a debt-to-equity ratio of 3.36, a current ratio of 1.72 and a quick ratio of 1.72. GCM Grosvenor Inc. has a one year low of $9.30 and a one year high of $13.40. The company's 50-day simple moving average is $11.01 and its 200 day simple moving average is $11.40.

GCM Grosvenor (NASDAQ:GCMG - Get Free Report) last announced its earnings results on Tuesday, February 10th. The company reported $0.31 earnings per share for the quarter, beating analysts' consensus estimates of $0.24 by $0.07. GCM Grosvenor had a net margin of 8.14% and a return on equity of 2,505.59%. The business had revenue of $177.10 million during the quarter, compared to the consensus estimate of $160.20 million. As a group, analysts forecast that GCM Grosvenor Inc. will post 0.64 EPS for the current fiscal year.

GCM Grosvenor Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, March 16th. Investors of record on Monday, March 2nd were given a dividend of $0.12 per share. This represents a $0.48 dividend on an annualized basis and a yield of 5.0%. The ex-dividend date of this dividend was Monday, March 2nd. GCM Grosvenor's dividend payout ratio (DPR) is 129.73%.

Wall Street Analyst Weigh In

A number of research analysts have recently commented on the company. Weiss Ratings cut GCM Grosvenor from a "buy (b-)" rating to a "hold (c+)" rating in a research note on Monday, January 12th. Oppenheimer reaffirmed an "outperform" rating and issued a $24.00 price target on shares of GCM Grosvenor in a research note on Wednesday, February 11th. Two research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company. Based on data from MarketBeat, GCM Grosvenor presently has a consensus rating of "Moderate Buy" and an average target price of $19.00.

GCM Grosvenor Company Profile

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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