Piper Sandler Issues Positive Forecast for GCM Grosvenor (NASDAQ:GCMG) Stock Price

Key Points

• Analysts at Piper Sandler have raised their target price for GCM Grosvenor (NASDAQ:GCMG) from $14.50 to $15.00, indicating a potential upside of 25% from its current price.
• Oppenheimer also increased its price objective for GCM Grosvenor from $18.00 to $19.00, with a rating of "outperform," suggesting positive sentiment among analysts.
• The stock opened at $12.00 and has a market capitalization of $2.33 billion, with 99.95% of the shares owned by institutional investors and hedge funds.

GCM Grosvenor (NASDAQ:GCMG - Get Free Report) had its target price lifted by analysts at Piper Sandler from $14.50 to $15.00 in a note issued to investors on Friday,Benzinga reports. The brokerage currently has an "overweight" rating on the stock. Piper Sandler's price target points to a potential upside of 25.00% from the company's current price.

Separately, Oppenheimer upped their price objective on shares of GCM Grosvenor from $18.00 to $19.00 and gave the company an "outperform" rating in a report on Monday, July 14th. Three analysts have rated the stock with a hold rating and two have issued a buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of "Hold" and a consensus target price of $14.10.

GCM Grosvenor Stock Performance

NASDAQ GCMG opened at $12.00 on Friday. The stock's fifty day moving average is $11.89 and its two-hundred day moving average is $12.65. The firm has a market capitalization of $2.33 billion, a P/E ratio of 85.71 and a beta of 0.72. GCM Grosvenor has a fifty-two week low of $10.04 and a fifty-two week high of $14.48.

Institutional Trading of GCM Grosvenor

Institutional investors and hedge funds have recently bought and sold shares of the stock. Corton Capital Inc. increased its position in shares of GCM Grosvenor by 48.1% during the second quarter. Corton Capital Inc. now owns 23,933 shares of the company's stock valued at $277,000 after acquiring an additional 7,774 shares during the last quarter. Y Intercept Hong Kong Ltd acquired a new stake in GCM Grosvenor in the 2nd quarter valued at approximately $1,202,000. Envestnet Asset Management Inc. raised its position in GCM Grosvenor by 18.1% in the second quarter. Envestnet Asset Management Inc. now owns 116,019 shares of the company's stock valued at $1,341,000 after purchasing an additional 17,752 shares during the period. MQS Management LLC acquired a new position in GCM Grosvenor during the second quarter worth $186,000. Finally, Kornitzer Capital Management Inc. KS acquired a new position in GCM Grosvenor during the second quarter worth $1,156,000. 99.95% of the stock is currently owned by hedge funds and other 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.

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.