GCM Grosvenor Inc. (NASDAQ:GCMG) Shares Bought by New York State Common Retirement Fund

New York State Common Retirement Fund raised its position in shares of GCM Grosvenor Inc. (NASDAQ:GCMG - Free Report) by 4,385.3% in the first quarter, according to its most recent filing with the SEC. The firm owned 352,497 shares of the company's stock after purchasing an additional 344,638 shares during the quarter. New York State Common Retirement Fund owned approximately 0.19% of GCM Grosvenor worth $4,664,000 at the end of the most recent quarter.

Several other institutional investors have also recently added to or reduced their stakes in the business. Cornerstone Investment Partners LLC increased its position in shares of GCM Grosvenor by 56.5% during the first quarter. Cornerstone Investment Partners LLC now owns 37,958 shares of the company's stock valued at $502,000 after acquiring an additional 13,706 shares during the last quarter. Envestnet Asset Management Inc. boosted its stake in shares of GCM Grosvenor by 308.8% in the 1st quarter. Envestnet Asset Management Inc. now owns 98,267 shares of the company's stock valued at $1,300,000 after purchasing an additional 74,227 shares in the last quarter. Fifth Third Bancorp boosted its stake in shares of GCM Grosvenor by 100.3% in the 1st quarter. Fifth Third Bancorp now owns 32,455 shares of the company's stock valued at $429,000 after purchasing an additional 16,253 shares in the last quarter. SG Americas Securities LLC boosted its position in GCM Grosvenor by 98.3% during the 1st quarter. SG Americas Securities LLC now owns 40,107 shares of the company's stock valued at $531,000 after buying an additional 19,884 shares during the period. Finally, Yarbrough Capital LLC purchased a new stake in GCM Grosvenor during the 1st quarter valued at $366,000. 99.95% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

GCMG has been the topic of several recent research reports. Piper Sandler reduced their price target on GCM Grosvenor from $16.00 to $14.50 and set an "overweight" rating on the stock in a research note on Tuesday, April 8th. Oppenheimer boosted their price objective on shares of GCM Grosvenor from $18.00 to $19.00 and gave the company an "outperform" rating in a research report on Monday, July 14th. Three investment analysts have rated the stock with a hold rating and two have issued a buy rating to the company. According to data from MarketBeat, the company has a consensus rating of "Hold" and a consensus target price of $14.00.

GCM Grosvenor Stock Performance

Shares of NASDAQ GCMG traded down $0.02 during trading on Friday, reaching $12.18. The stock had a trading volume of 26,654 shares, compared to its average volume of 449,659. GCM Grosvenor Inc. has a fifty-two week low of $10.04 and a fifty-two week high of $14.48. The business's 50-day moving average price is $12.03 and its 200-day moving average price is $12.72. The company has a market cap of $2.37 billion, a P/E ratio of 86.98 and a beta of 0.70.

GCM Grosvenor Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, June 16th. Investors of record on Friday, June 6th were paid a dividend of $0.11 per share. The ex-dividend date of this dividend was Friday, June 6th. This represents a $0.44 annualized dividend and a yield of 3.61%. GCM Grosvenor's dividend payout ratio 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.