GCM Grosvenor (NASDAQ:GCMG) Stock Crosses Above 50 Day Moving Average - Here's Why

Key Points

• GCM Grosvenor shares crossed above their 50-day moving average, reaching $13.29 before closing at $12.96, compared with a 50-day average of $12.94.
• Analyst sentiment remains favorable but mixed: four analysts rate the stock a Buy and one a Hold, producing a “Moderate Buy” consensus and an average price target of $14.62.
• The company exceeded quarterly expectations with EPS of $0.19 versus $0.18 forecast and revenue of $134.34 million versus $131.21 million expected; it also pays a $0.12 quarterly dividend, yielding about 3.7%.

GCM Grosvenor Inc. (NASDAQ:GCMG - Get Free Report)'s stock price passed above its 50-day moving average during trading on Monday. The stock has a 50-day moving average of $12.94 and traded as high as $13.29. GCM Grosvenor shares last traded at $12.96, with a volume of 306,297 shares trading hands.

Wall Street Analysts Forecast Growth

GCMG has been the topic of a number of recent analyst reports. Oppenheimer dropped their price target on shares of GCM Grosvenor from $18.00 to $17.00 and set an "outperform" rating on the stock in a research note on Friday, July 17th. Weiss Ratings upgraded shares of GCM Grosvenor from a "buy (b-)" rating to a "buy (b)" rating in a research report on Thursday, August 13th. Wall Street Zen lowered GCM Grosvenor from a "buy" rating to a "hold" rating in a report on Saturday, October 10th. JPMorgan Chase & Co. lifted their price objective on GCM Grosvenor from $12.00 to $13.00 and gave the company a "neutral" rating in a report on Tuesday, August 11th. Finally, Piper Sandler dropped their target price on GCM Grosvenor from $16.00 to $14.50 and set an "overweight" rating on the stock in a research report on Monday, October 19th. Four analysts have rated the stock with a Buy rating and one has given a Hold rating to the company's stock. According to data from MarketBeat, the stock has an average rating of "Moderate Buy" and an average target price of $14.62.

GCM Grosvenor Price Performance

The company has a 50 day moving average of $12.94 and a 200 day moving average of $11.88. The stock has a market capitalization of $2.63 billion, a price-to-earnings ratio of 24.92 and a beta of 0.87. The company has a quick ratio of 1.89, a current ratio of 1.89 and a debt-to-equity ratio of 2.96.

GCM Grosvenor (NASDAQ:GCMG - Get Free Report) last issued its quarterly earnings results on Monday, August 10th. The company reported $0.19 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.18 by $0.01. The firm had revenue of $134.34 million for the quarter, compared to analyst estimates of $131.21 million. GCM Grosvenor had a return on equity of 142.74% and a net margin of 7.79%. As a group, equities research analysts forecast that GCM Grosvenor Inc. will post 0.69 EPS for the current fiscal year.

GCM Grosvenor Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, September 15th. Stockholders of record on Tuesday, September 1st were issued a dividend of $0.12 per share. This represents a $0.48 annualized dividend and a dividend yield of 3.7%. The ex-dividend date was Tuesday, September 1st. GCM Grosvenor's dividend payout ratio is presently 92.31%.

Insider Activity at GCM Grosvenor

In related news, insider Kathleen Sullivan sold 15,037 shares of the business's stock in a transaction that occurred on Thursday, September 3rd. The shares were sold at an average price of $13.16, for a total value of $197,886.92. Following the completion of the sale, the insider directly owned 44,795 shares in the company, valued at approximately $589,502.20. The trade was a 25.13% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Pamela Bentley sold 10,000 shares of the business's stock in a transaction that occurred on Wednesday, September 16th. The shares were sold at an average price of $12.68, for a total transaction of $126,800.00. Following the completion of the sale, the chief financial officer owned 14,397 shares of the company's stock, valued at approximately $182,553.96. The trade was a 40.99% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 90,000 shares of company stock worth $1,155,350 over the last three months. Corporate insiders own 70.70% of the company's stock.

Institutional Trading of GCM Grosvenor

A number of institutional investors and hedge funds have recently made changes to their positions in the company. Bank of New York Mellon Corp acquired a new stake in GCM Grosvenor during the second quarter worth about $4,226,000. Dimensional Fund Advisors LP raised its holdings in shares of GCM Grosvenor by 17.4% in the 1st quarter. Dimensional Fund Advisors LP now owns 823,520 shares of the company's stock worth $8,070,000 after purchasing an additional 122,110 shares during the period. Globeflex Capital L P acquired a new position in shares of GCM Grosvenor in the 2nd quarter valued at about $1,390,000. Jennison Associates LLC lifted its stake in shares of GCM Grosvenor by 49.7% in the 1st quarter. Jennison Associates LLC now owns 127,482 shares of the company's stock valued at $1,249,000 after purchasing an additional 42,323 shares in the last quarter. Finally, The Manufacturers Life Insurance Company grew its holdings in shares of GCM Grosvenor by 18.8% during the 1st quarter. The Manufacturers Life Insurance Company now owns 280,406 shares of the company's stock worth $2,748,000 after purchasing an additional 44,316 shares during the period. 99.95% of the stock is currently owned by institutional investors and hedge funds.

About GCM Grosvenor

GCM Grosvenor is a global alternative asset management firm that provides investment solutions across private equity, infrastructure, real estate, absolute return strategies and secondary investments. The firm offers both multi-manager and direct investment programs designed to provide institutions and other qualified investors with access to alternative assets.

The company serves a diverse client base that includes public and corporate pension plans, endowments, foundations, sovereign wealth funds, family offices, financial intermediaries and other institutional investors.

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