Trexquant Investment LP Sells 49,514 Shares of GCM Grosvenor Inc. $GCMG

Trexquant Investment LP lessened its holdings in GCM Grosvenor Inc. (NASDAQ:GCMG - Free Report) by 60.6% during the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 32,125 shares of the company's stock after selling 49,514 shares during the quarter. Trexquant Investment LP's holdings in GCM Grosvenor were worth $425,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also made changes to their positions in GCMG. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its stake in shares of GCM Grosvenor by 4.4% in the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 24,242 shares of the company's stock worth $297,000 after purchasing an additional 1,023 shares during the last quarter. EntryPoint Capital LLC boosted its stake in GCM Grosvenor by 10.2% during the first quarter. EntryPoint Capital LLC now owns 15,549 shares of the company's stock worth $206,000 after buying an additional 1,438 shares during the last quarter. Charles Schwab Investment Management Inc. boosted its stake in GCM Grosvenor by 1.8% during the first quarter. Charles Schwab Investment Management Inc. now owns 125,388 shares of the company's stock worth $1,659,000 after buying an additional 2,276 shares during the last quarter. Invesco Ltd. lifted its stake in shares of GCM Grosvenor by 4.2% in the 1st quarter. Invesco Ltd. now owns 63,835 shares of the company's stock valued at $845,000 after purchasing an additional 2,573 shares during the last quarter. Finally, Rhumbline Advisers lifted its stake in GCM Grosvenor by 5.0% during the 1st quarter. Rhumbline Advisers now owns 61,392 shares of the company's stock worth $812,000 after acquiring an additional 2,930 shares in the last quarter. Institutional investors own 99.95% of the company's stock.

Wall Street Analyst Weigh In

GCMG has been the topic of a number of analyst reports. Piper Sandler increased their price target on GCM Grosvenor from $14.50 to $15.00 and gave the company an "overweight" rating in a research report on Friday, August 8th. Oppenheimer reissued an "outperform" rating on shares of GCM Grosvenor in a 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. Based on data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $15.13.

Insider Activity at GCM Grosvenor

In other news, insider Kathleen Patricia Sullivan sold 6,000 shares of the company's stock in a transaction that occurred on Tuesday, August 12th. The stock was sold at an average price of $13.02, for a total transaction of $78,120.00. Following the completion of the transaction, the insider directly owned 60,195 shares of the company's stock, valued at approximately $783,738.90. This represents a 9.06% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 77.30% of the company's stock.

GCM Grosvenor Stock Performance

NASDAQ:GCMG opened at $12.82 on Tuesday. The stock has a market cap of $2.49 billion, a price-to-earnings ratio of 85.47 and a beta of 0.75. GCM Grosvenor Inc. has a one year low of $10.04 and a one year high of $14.48. The business's 50-day simple moving average is $12.29 and its 200 day simple moving average is $12.51.

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 issued a $0.11 dividend. This represents a $0.44 annualized dividend and a yield of 3.4%. The ex-dividend date of this dividend is Tuesday, September 2nd. GCM Grosvenor's payout ratio is currently 293.33%.

About GCM Grosvenor

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.