Teza Capital Management LLC Purchases Shares of 24,753 GCM Grosvenor Inc. $GCMG

Key Points

• Teza Capital Management LLC purchased a new stake in GCM Grosvenor Inc., acquiring 24,753 shares for approximately $327,000 during the first quarter.
• The firm declared a quarterly dividend of $0.11, which represents an annualized yield of 3.4%, with the payout ratio currently at 293.33%.
• Analysts have rated GCM Grosvenor with an average target price of $15.13, reflecting a "Moderate Buy" sentiment among brokerages.

Teza Capital Management LLC acquired a new stake in GCM Grosvenor Inc. (NASDAQ:GCMG - Free Report) in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The firm acquired 24,753 shares of the company's stock, valued at approximately $327,000.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in GCMG. Dimensional Fund Advisors LP increased its position in GCM Grosvenor by 231.7% in the 4th quarter. Dimensional Fund Advisors LP now owns 145,413 shares of the company's stock valued at $1,785,000 after acquiring an additional 101,573 shares in the last quarter. Price T Rowe Associates Inc. MD increased its position in GCM Grosvenor by 22.2% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 16,951 shares of the company's stock valued at $208,000 after acquiring an additional 3,082 shares in the last quarter. Schonfeld Strategic Advisors LLC acquired a new stake in shares of GCM Grosvenor during the 4th quarter worth approximately $234,000. BNP Paribas Financial Markets acquired a new stake in shares of GCM Grosvenor during the 4th quarter worth approximately $223,000. Finally, Bank of America Corp DE grew its position in shares of GCM Grosvenor by 42.1% during the 4th quarter. Bank of America Corp DE now owns 70,223 shares of the company's stock worth $862,000 after buying an additional 20,815 shares during the period. Institutional investors and hedge funds own 99.95% of the company's stock.

GCM Grosvenor Stock Up 0.2%

GCM Grosvenor stock traded up $0.03 during midday trading on Friday, hitting $12.88. 325,299 shares of the stock were exchanged, compared to its average volume of 423,066. The company has a fifty day simple moving average of $12.39 and a two-hundred day simple moving average of $12.48. GCM Grosvenor Inc. has a 52 week low of $10.74 and a 52 week high of $14.48. The stock has a market capitalization of $2.50 billion, a PE ratio of 85.87 and a beta of 0.75.

GCM Grosvenor Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 16th. Investors of record on Tuesday, September 2nd will be paid a dividend of $0.11 per share. The ex-dividend date of this dividend is Tuesday, September 2nd. This represents a $0.44 annualized dividend and a yield of 3.4%. GCM Grosvenor's dividend payout ratio (DPR) is presently 293.33%.

Insiders Place Their Bets

In related news, insider Kathleen Patricia Sullivan sold 6,000 shares of GCM Grosvenor stock in a transaction that occurred on Tuesday, August 12th. The shares were sold at an average price of $13.02, for a total transaction of $78,120.00. Following the transaction, the insider owned 60,195 shares of the company's stock, valued at $783,738.90. This trade represents a 9.06% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. 77.30% of the stock is owned by insiders.

Wall Street Analyst Weigh In

Several equities research analysts have recently commented on GCMG shares. Piper Sandler lifted their price target on shares of GCM Grosvenor from $14.50 to $15.00 and gave the stock an "overweight" rating in a research report on Friday, August 8th. Oppenheimer reiterated an "outperform" rating on shares of GCM Grosvenor in a research report on Friday, August 8th. Two 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, GCM Grosvenor has an average rating of "Moderate Buy" and an average price target of $15.13.

GCM Grosvenor Company 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.