Pinnacle Wealth Management LLC Acquires New Position in GCM Grosvenor Inc. $GCMG

Key Points

• Pinnacle Wealth Management LLC has acquired 54,375 shares of GCM Grosvenor Inc. in an investment valued at approximately $719,000, making it the firm's 26th largest position.
• GCM Grosvenor recently announced a quarterly dividend of $0.11 per share, with a yield of 3.4%, set to be paid to shareholders on September 16th.
• Institutional investors and hedge funds own 99.95% of GCM Grosvenor's stock, indicating significant institutional interest in the company.

Pinnacle Wealth Management LLC bought a new position in GCM Grosvenor Inc. (NASDAQ:GCMG - Free Report) in the 1st quarter, according to its most recent disclosure with the SEC. The firm bought 54,375 shares of the company's stock, valued at approximately $719,000. GCM Grosvenor accounts for approximately 0.8% of Pinnacle Wealth Management LLC's investment portfolio, making the stock its 26th largest holding.

Other institutional investors and hedge funds have also recently modified their holdings of the company. ProShare Advisors LLC bought a new stake in GCM Grosvenor during the 4th quarter valued at about $147,000. R Squared Ltd boosted its holdings in shares of GCM Grosvenor by 161.4% during the 1st quarter. R Squared Ltd now owns 12,206 shares of the company's stock valued at $161,000 after acquiring an additional 7,536 shares during the last quarter. Argent Trust Co purchased a new stake in shares of GCM Grosvenor during the 1st quarter valued at about $172,000. Aquatic Capital Management LLC purchased a new stake in shares of GCM Grosvenor during the 4th quarter valued at about $177,000. Finally, Price T Rowe Associates Inc. MD boosted its holdings in shares of GCM Grosvenor by 22.2% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 16,951 shares of the company's stock worth $208,000 after buying an additional 3,082 shares during the last quarter. 99.95% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

GCMG has been the topic of a number of research reports. Piper Sandler raised their price objective 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. Oppenheimer reiterated an "outperform" rating on shares of GCM Grosvenor in a research report on Friday, August 8th. Two investment analysts have rated the stock with a Buy rating and two have given a Hold rating to the company's stock. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $15.13.

GCM Grosvenor Trading Up 1.0%

Shares of NASDAQ GCMG traded up $0.13 during mid-day trading on Friday, reaching $13.05. The company had a trading volume of 545,098 shares, compared to its average volume of 469,536. The business's 50-day moving average is $11.98 and its 200-day moving average is $12.61. The stock has a market cap of $2.53 billion, a price-to-earnings ratio of 87.00 and a beta of 0.72. GCM Grosvenor Inc. has a 52 week low of $10.04 and a 52 week high of $14.48.

GCM Grosvenor Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, September 16th. Stockholders of record on Tuesday, September 2nd will be issued 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 is Tuesday, September 2nd. GCM Grosvenor's dividend payout ratio (DPR) is currently 293.33%.

Insider Buying and Selling at GCM Grosvenor

In other news, insider Kathleen Patricia Sullivan sold 6,000 shares of the firm's stock in a transaction dated Tuesday, August 12th. The shares were sold at an average price of $13.02, for a total value of $78,120.00. Following the sale, the insider directly owned 60,195 shares in the company, valued at approximately $783,738.90. This trade represents a 9.06% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 76.40% of the company's stock.

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.