GCM Grosvenor (NASDAQ:GCMG) Hits New 52-Week High at $9.67

GCM Grosvenor Inc. (NASDAQ:GCMG - Get Free Report)'s stock price hit a new 52-week high during trading on Monday . The company traded as high as $9.67 and last traded at $9.65, with a volume of 25290 shares changing hands. The stock had previously closed at $9.66.

Wall Street Analyst Weigh In

A number of research analysts recently commented on GCMG shares. Oppenheimer dropped their target price on shares of GCM Grosvenor from $13.00 to $12.00 and set an "outperform" rating on the stock in a research report on Wednesday, February 14th. TD Cowen raised shares of GCM Grosvenor from a "market perform" rating to an "outperform" rating and increased their target price for the company from $9.50 to $10.00 in a research report on Friday, February 16th. Finally, Piper Sandler reaffirmed a "neutral" rating and issued a $10.00 target price on shares of GCM Grosvenor in a research report on Wednesday, December 20th.

GCM Grosvenor Stock Performance

The stock has a market capitalization of $1.78 billion, a PE ratio of -32.76 and a beta of 0.51. The stock's 50-day moving average is $8.74 and its 200 day moving average is $8.47.

GCM Grosvenor (NASDAQ:GCMG - Get Free Report) last issued its quarterly earnings results on Tuesday, February 13th. The company reported $0.08 earnings per share for the quarter, missing analysts' consensus estimates of $0.16 by ($0.08). The business had revenue of $116.56 million for the quarter, compared to analyst estimates of $127.29 million. GCM Grosvenor had a negative return on equity of 76.61% and a net margin of 2.87%. Analysts expect that GCM Grosvenor Inc. will post 0.54 earnings per share for the current year.

GCM Grosvenor Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, March 15th. Investors of record on Friday, March 1st were paid a dividend of $0.11 per share. This represents a $0.44 dividend on an annualized basis and a yield of 4.63%. The ex-dividend date of this dividend was Thursday, February 29th. GCM Grosvenor's dividend payout ratio is currently -151.72%.

Institutional Trading of GCM Grosvenor

A number of large investors have recently bought and sold shares of the business. The Manufacturers Life Insurance Company boosted its stake in GCM Grosvenor by 7.9% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 17,606 shares of the company's stock worth $133,000 after purchasing an additional 1,290 shares during the period. Russell Investments Group Ltd. boosted its holdings in shares of GCM Grosvenor by 15.5% in the first quarter. Russell Investments Group Ltd. now owns 10,030 shares of the company's stock valued at $78,000 after acquiring an additional 1,346 shares in the last quarter. Rhumbline Advisers boosted its holdings in shares of GCM Grosvenor by 2.8% in the second quarter. Rhumbline Advisers now owns 54,898 shares of the company's stock valued at $414,000 after acquiring an additional 1,470 shares in the last quarter. Charles Schwab Investment Management Inc. boosted its holdings in shares of GCM Grosvenor by 1.9% in the first quarter. Charles Schwab Investment Management Inc. now owns 114,176 shares of the company's stock valued at $892,000 after acquiring an additional 2,127 shares in the last quarter. Finally, New York State Common Retirement Fund boosted its holdings in shares of GCM Grosvenor by 30.3% in the fourth quarter. New York State Common Retirement Fund now owns 9,951 shares of the company's stock valued at $89,000 after acquiring an additional 2,312 shares in the last quarter. Institutional investors and hedge funds own 99.95% of the company's stock.

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.