Royce & Associates LP Has $39.07 Million Stock Holdings in GCM Grosvenor Inc. (NASDAQ:GCMG)

Royce & Associates LP reduced its stake in shares of GCM Grosvenor Inc. (NASDAQ:GCMG - Free Report) by 11.9% during the 1st quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 2,953,365 shares of the company's stock after selling 397,386 shares during the quarter. Royce & Associates LP owned 1.56% of GCM Grosvenor worth $39,073,000 as of its most recent filing with the SEC.

Other hedge funds have also modified their holdings of the company. Nuveen Asset Management LLC raised its holdings in shares of GCM Grosvenor by 39.3% during the 4th quarter. Nuveen Asset Management LLC now owns 376,276 shares of the company's stock valued at $4,617,000 after buying an additional 106,180 shares during the period. Rhumbline Advisers raised its holdings in shares of GCM Grosvenor by 5.0% during the 1st quarter. Rhumbline Advisers now owns 61,392 shares of the company's stock valued at $812,000 after buying an additional 2,930 shares during the period. Fifth Third Bancorp raised its holdings in shares of GCM Grosvenor by 100.3% during the 1st quarter. Fifth Third Bancorp now owns 32,455 shares of the company's stock valued at $429,000 after buying an additional 16,253 shares during the period. GAMMA Investing LLC raised its holdings in shares of GCM Grosvenor by 1,455.8% during the 1st quarter. GAMMA Investing LLC now owns 22,637 shares of the company's stock valued at $299,000 after buying an additional 21,182 shares during the period. Finally, Franklin Resources Inc. purchased a new stake in GCM Grosvenor during the 4th quarter worth approximately $555,000. 99.95% of the stock is currently owned by hedge funds and other institutional investors.

GCM Grosvenor Price Performance

Shares of GCMG traded down $0.31 during midday trading on Monday, reaching $11.88. The stock had a trading volume of 270,628 shares, compared to its average volume of 450,985. GCM Grosvenor Inc. has a 52 week low of $10.04 and a 52 week high of $14.48. The firm's 50 day moving average price is $12.02 and its 200-day moving average price is $12.71. The company has a market capitalization of $2.31 billion, a P/E ratio of 84.86 and a beta of 0.70.

GCM Grosvenor Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, June 16th. Stockholders of record on Friday, June 6th were paid a $0.11 dividend. This represents a $0.44 dividend on an annualized basis and a dividend yield of 3.70%. The ex-dividend date of this dividend was Friday, June 6th. GCM Grosvenor's dividend payout ratio is presently 314.29%.

Analyst Ratings Changes

GCMG has been the topic of several analyst reports. Oppenheimer lifted their price objective on GCM Grosvenor from $18.00 to $19.00 and gave the stock an "outperform" rating in a report on Monday, July 14th. Piper Sandler reduced their price objective 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 equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the company's stock. Based on data from MarketBeat, GCM Grosvenor currently has an average rating of "Hold" and an average target price of $14.00.

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.