GCM Grosvenor Inc. (NASDAQ:GCMG) Sees Significant Growth in Short Interest


Share on StockTwits

GCM Grosvenor Inc. (NASDAQ:GCMG) was the target of a significant growth in short interest in April. As of April 15th, there was short interest totalling 5,270,000 shares, a growth of 20.0% from the March 31st total of 4,390,000 shares. Based on an average daily trading volume, of 367,900 shares, the days-to-cover ratio is presently 14.3 days. Approximately 15.9% of the shares of the stock are short sold.

A number of institutional investors have recently added to or reduced their stakes in the stock. Royce & Associates LP purchased a new stake in GCM Grosvenor in the 4th quarter valued at about $55,833,000. Alyeska Investment Group L.P. purchased a new position in shares of GCM Grosvenor in the 4th quarter worth about $39,960,000. Healthcare of Ontario Pension Plan Trust Fund acquired a new position in shares of GCM Grosvenor in the 4th quarter valued at about $13,320,000. Magnetar Financial LLC purchased a new stake in shares of GCM Grosvenor during the 4th quarter worth about $12,925,000. Finally, Bank of New York Mellon Corp acquired a new stake in GCM Grosvenor during the 4th quarter worth approximately $12,528,000. Hedge funds and other institutional investors own 53.26% of the company’s stock.

GCM Grosvenor stock traded up $0.21 during mid-day trading on Tuesday, reaching $13.38. The company had a trading volume of 19,883 shares, compared to its average volume of 419,782. The business’s 50-day simple moving average is $12.52. GCM Grosvenor has a 1 year low of $9.00 and a 1 year high of $15.36.

GCM Grosvenor (NASDAQ:GCMG) last announced its earnings results on Thursday, February 25th. The company reported $0.09 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.16 by ($0.07). The business had revenue of $155.49 million for the quarter, compared to the consensus estimate of $107.23 million. On average, research analysts predict that GCM Grosvenor will post 0.47 earnings per share for the current fiscal year.

The company also recently declared a quarterly dividend, which will be paid on Tuesday, June 15th. Shareholders of record on Tuesday, June 1st will be paid a dividend of $0.08 per share. This is a boost from GCM Grosvenor’s previous quarterly dividend of $0.06. This represents a $0.32 annualized dividend and a dividend yield of 2.39%. The ex-dividend date is Friday, May 28th.

GCMG has been the topic of several research reports. William Blair reissued an “outperform” rating on shares of GCM Grosvenor in a research note on Monday, April 26th. JPMorgan Chase & Co. raised GCM Grosvenor from an “underweight” rating to an “overweight” rating and set a $15.00 price objective for the company in a research note on Thursday, April 29th. Finally, Zacks Investment Research upgraded GCM Grosvenor from a “hold” rating to a “buy” rating and set a $15.00 price target on the stock in a report on Wednesday, April 28th.

About GCM Grosvenor

Grosvenor Capital Management, L.P. 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.

Recommended Story: Quiet Period Expirations

Receive News & Ratings for GCM Grosvenor Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for GCM Grosvenor and related companies with MarketBeat.com's FREE daily email newsletter.