Oppenheimer Cuts GCM Grosvenor (NASDAQ:GCMG) Price Target to $17.00

Key Points

• Oppenheimer cut GCM Grosvenor's price target from $24 to $17 but kept an "outperform" rating, with the new target implying about a 72.8% upside from the prior close.
• Shares trade near $9.84 (12‑month low $9.30) with a $1.99B market cap; analysts' consensus is a Moderate Buy with an average target of $15, and the company recently beat quarterly EPS ($0.31 vs. $0.24) and revenue estimates.

GCM Grosvenor (NASDAQ:GCMG - Get Free Report) had its target price decreased by investment analysts at Oppenheimer from $24.00 to $17.00 in a research note issued to investors on Monday,Benzinga reports. The firm presently has an "outperform" rating on the stock. Oppenheimer's price target would suggest a potential upside of 72.76% from the stock's previous close.

GCMG has been the subject of a number of other reports. Piper Sandler reduced their price target on shares of GCM Grosvenor from $14.50 to $13.00 and set an "overweight" rating for the company in a research report on Tuesday, April 7th. Weiss Ratings reiterated a "hold (c+)" rating on shares of GCM Grosvenor in a research report on Friday. Two analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the stock. Based on data from MarketBeat, GCM Grosvenor has a consensus rating of "Moderate Buy" and an average price target of $15.00.

GCM Grosvenor Stock Performance

GCM Grosvenor stock traded up $0.12 during mid-day trading on Monday, reaching $9.84. The company's stock had a trading volume of 77,117 shares, compared to its average volume of 663,901. GCM Grosvenor has a 12-month low of $9.30 and a 12-month high of $13.22. The company has a market capitalization of $1.99 billion, a P/E ratio of 26.49 and a beta of 0.88. The company has a debt-to-equity ratio of 3.36, a quick ratio of 1.72 and a current ratio of 1.72. The firm's fifty day moving average price is $10.70 and its two-hundred day moving average price is $11.20.

GCM Grosvenor (NASDAQ:GCMG - Get Free Report) last released its quarterly earnings results on Tuesday, February 10th. The company reported $0.31 EPS for the quarter, beating analysts' consensus estimates of $0.24 by $0.07. The firm had revenue of $177.10 million during the quarter, compared to analyst estimates of $160.20 million. GCM Grosvenor had a net margin of 8.14% and a return on equity of 2,505.59%. Sell-side analysts predict that GCM Grosvenor will post 0.64 EPS for the current fiscal year.

Hedge Funds Weigh In On GCM Grosvenor

Several hedge funds and other institutional investors have recently modified their holdings of the company. CWM LLC increased its position in shares of GCM Grosvenor by 83.6% during the third quarter. CWM LLC now owns 4,199 shares of the company's stock valued at $51,000 after buying an additional 1,912 shares during the period. CANADA LIFE ASSURANCE Co increased its position in shares of GCM Grosvenor by 44.9% during the fourth quarter. CANADA LIFE ASSURANCE Co now owns 4,570 shares of the company's stock valued at $52,000 after buying an additional 1,417 shares during the period. National Bank of Canada FI increased its position in shares of GCM Grosvenor by 65.5% during the third quarter. National Bank of Canada FI now owns 4,405 shares of the company's stock valued at $53,000 after buying an additional 1,743 shares during the period. Tower Research Capital LLC TRC grew its holdings in GCM Grosvenor by 308.5% in the second quarter. Tower Research Capital LLC TRC now owns 5,776 shares of the company's stock worth $67,000 after purchasing an additional 4,362 shares during the period. Finally, Quarry LP purchased a new stake in GCM Grosvenor in the third quarter worth about $71,000. 99.95% of the stock is owned by institutional investors.

About GCM Grosvenor

GCM Grosvenor is a global alternative asset management firm that specializes in customized investment solutions across a range of private markets and hedge fund strategies. The firm partners with institutional clients—including pension funds, endowments, insurers and sovereign wealth funds—to design and implement portfolios that span private equity, infrastructure, real estate, credit and multi‐strategy hedge fund products. Through its multi‐manager platforms and direct co‐investment vehicles, GCM Grosvenor provides diversified access to opportunities that can enhance returns and manage risk in client portfolios.

Founded in 1971 as Grosvenor Capital Management, the firm has built a track record of sourcing, structuring and monitoring alternative investments on behalf of its clients.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.