GCM Grosvenor (NASDAQ:GCMG) PT Raised to $10.50

GCM Grosvenor (NASDAQ:GCMG - Free Report) had its price objective boosted by Piper Sandler from $10.00 to $10.50 in a research note released on Monday morning, Benzinga reports. Piper Sandler currently has a neutral rating on the stock.

GCMG has been the topic of several other research reports. Oppenheimer decreased their target price on GCM Grosvenor from $13.00 to $12.00 and set an outperform rating on the stock in a research note on Wednesday, February 14th. UBS Group upped their price objective on GCM Grosvenor from $9.00 to $9.50 and gave the stock a neutral rating in a report on Friday, April 12th. Finally, TD Cowen raised their target price on shares of GCM Grosvenor from $11.00 to $11.50 and gave the company a buy rating in a report on Thursday, May 9th.

GCM Grosvenor Stock Down 1.2 %

NASDAQ:GCMG traded down $0.12 during trading hours on Monday, hitting $9.84. 85,744 shares of the stock traded hands, compared to its average volume of 183,244. The stock has a 50 day moving average price of $9.40 and a 200 day moving average price of $8.90. The company has a market cap of $1.85 billion, a price-to-earnings ratio of -30.75 and a beta of 0.51. GCM Grosvenor has a 1 year low of $6.56 and a 1 year high of $10.20.

GCM Grosvenor Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, June 17th. Investors of record on Monday, June 3rd will be given a $0.11 dividend. The ex-dividend date of this dividend is Monday, June 3rd. This represents a $0.44 dividend on an annualized basis and a yield of 4.47%. GCM Grosvenor's dividend payout ratio is presently -137.50%.

Institutional Trading of GCM Grosvenor

Several institutional investors have recently added to or reduced their stakes in GCMG. Quadrature Capital Ltd increased its position in shares of GCM Grosvenor by 10.5% during the first quarter. Quadrature Capital Ltd now owns 14,401 shares of the company's stock worth $139,000 after acquiring an additional 1,364 shares during the period. New York State Common Retirement Fund lifted its holdings in shares of GCM Grosvenor by 30.3% in the 4th quarter. New York State Common Retirement Fund now owns 9,951 shares of the company's stock worth $89,000 after buying an additional 2,312 shares during the period. Price T Rowe Associates Inc. MD increased its stake in shares of GCM Grosvenor by 23.1% during the first quarter. Price T Rowe Associates Inc. MD now owns 12,461 shares of the company's stock valued at $121,000 after buying an additional 2,341 shares during the period. LRI Investments LLC purchased a new stake in GCM Grosvenor in the first quarter worth about $95,000. Finally, SG Americas Securities LLC bought a new position in GCM Grosvenor during the 4th quarter worth about $109,000. Institutional investors own 99.95% of the company's stock.

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.