Insider Selling: GCM Grosvenor Inc. (NASDAQ:GCMG) Insider Sells 6,000 Shares of Stock

Key Points

• Insider Kathleen Patricia Sullivan sold 6,000 shares of GCM Grosvenor Inc. at an average price of $13.02, reducing her ownership by 9.06%.
• The company has announced a quarterly dividend of $0.11 per share, resulting in an annualized yield of 3.4%.
• Analysts have increased GCM Grosvenor's target price from $14.50 to $15.00 and assigned an "overweight" rating as of August 8th.

GCM Grosvenor Inc. (NASDAQ:GCMG - Get Free Report) insider Kathleen Patricia Sullivan sold 6,000 shares of the firm's stock in a transaction on Tuesday, August 12th. The stock was sold at an average price of $13.02, for a total value of $78,120.00. Following the completion of the transaction, the insider owned 60,195 shares in the company, valued at $783,738.90. This represents a 9.06% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.

GCM Grosvenor Stock Down 0.2%

Shares of GCMG traded down $0.03 during trading hours on Wednesday, hitting $13.00. 475,128 shares of the company were exchanged, compared to its average volume of 568,290. GCM Grosvenor Inc. has a fifty-two week low of $10.04 and a fifty-two week high of $14.48. The company has a market cap of $2.52 billion, a price-to-earnings ratio of 22.08 and a beta of 0.72. The firm's fifty day moving average is $11.91 and its 200 day moving average is $12.64.

GCM Grosvenor Dividend Announcement

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

Analyst Upgrades and Downgrades

A number of analysts recently issued reports on the company. Piper Sandler lifted their target price 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 research report on Friday, August 8th.

Hedge Funds Weigh In On GCM Grosvenor

Several hedge funds have recently bought and sold shares of the company. Legal & General Group Plc lifted its holdings in shares of GCM Grosvenor by 96.8% during the 2nd quarter. Legal & General Group Plc now owns 8,638 shares of the company's stock worth $100,000 after acquiring an additional 4,249 shares during the period. ProShare Advisors LLC bought a new position in GCM Grosvenor in the fourth quarter valued at approximately $147,000. R Squared Ltd increased its stake in GCM Grosvenor by 161.4% in the first 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 bought a new position in GCM Grosvenor in the first quarter valued at approximately $172,000. Finally, Jefferies Financial Group Inc. bought a new stake in GCM Grosvenor during the second quarter worth $173,000. 99.95% of the stock is owned by institutional investors.

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.

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