Navellier & Associates Inc. Takes $377,000 Position in GCM Grosvenor Inc. (NASDAQ:GCMG)

Key Points

• Navellier & Associates Inc. acquired 29,649 shares of GCM Grosvenor Inc., with a total value of approximately $377,000, indicating a growing institutional interest in the company.
• The firm recently announced a quarterly dividend of $0.11 per share, resulting in an annualized dividend yield of 3.61%, although its payout ratio stands at an unusually high 314.29%.
• GCM Grosvenor's stock has experienced fluctuations between a 52-week low of $10.04 and high of $14.48, currently trading around $12.19.

Navellier & Associates Inc. acquired a new stake in GCM Grosvenor Inc. (NASDAQ:GCMG - Free Report) in the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund acquired 29,649 shares of the company's stock, valued at approximately $377,000.

A number of other institutional investors and hedge funds have also made changes to their positions in GCMG. Charles Schwab Investment Management Inc. increased its position in shares of GCM Grosvenor by 2.3% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 123,112 shares of the company's stock worth $1,511,000 after purchasing an additional 2,795 shares in the last quarter. Quantbot Technologies LP increased its position in shares of GCM Grosvenor by 1,474.0% during the fourth quarter. Quantbot Technologies LP now owns 9,334 shares of the company's stock worth $115,000 after purchasing an additional 8,741 shares in the last quarter. American Century Companies Inc. purchased a new stake in shares of GCM Grosvenor during the fourth quarter worth approximately $1,437,000. EntryPoint Capital LLC purchased a new stake in shares of GCM Grosvenor during the fourth quarter worth approximately $173,000. Finally, JPMorgan Chase & Co. increased its position in shares of GCM Grosvenor by 87.1% during the fourth quarter. JPMorgan Chase & Co. now owns 188,925 shares of the company's stock worth $2,318,000 after purchasing an additional 87,945 shares in the last quarter. 99.95% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

GCMG has been the subject of several research reports. Oppenheimer boosted their price target on GCM Grosvenor from $18.00 to $19.00 and gave the stock an "outperform" rating in a research report on Monday, July 14th. 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 report on Tuesday, April 8th. Three investment analysts have rated the stock with a hold rating and two have issued a buy rating to the company. According to MarketBeat, the company has a consensus rating of "Hold" and a consensus price target of $14.00.

GCM Grosvenor Trading Up 0.8%

NASDAQ GCMG traded up $0.10 on Wednesday, reaching $12.03. 41,495 shares of the company were exchanged, compared to its average volume of 446,812. The business's fifty day moving average price is $12.00 and its 200 day moving average price is $12.70. The stock has a market capitalization of $2.34 billion, a P/E ratio of 85.95 and a beta of 0.70. GCM Grosvenor Inc. has a fifty-two week low of $10.04 and a fifty-two week high of $14.48.

GCM Grosvenor Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, June 16th. Shareholders of record on Friday, June 6th were paid a dividend of $0.11 per share. This represents a $0.44 dividend on an annualized basis and a yield of 3.66%. The ex-dividend date of this dividend was Friday, June 6th. GCM Grosvenor's dividend payout ratio (DPR) is currently 314.29%.

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.