GCM Grosvenor (NASDAQ:GCMG) Price Target Cut to $17.00 by Analysts at Oppenheimer

GCM Grosvenor (NASDAQ:GCMG) had its price objective reduced by Oppenheimer from $18.00 to $17.00 in a research report sent to investors on Friday,Benzinga reports. They currently have an outperform rating on the stock.

A number of other equities research analysts also recently weighed in on the company. Weiss Ratings restated a “hold (c+)” rating on shares of GCM Grosvenor in a research report on Wednesday, July 8th. Piper Sandler lifted their price target on shares of GCM Grosvenor from $13.00 to $15.00 and gave the stock an “overweight” rating in a research report on Monday, July 13th. TD Cowen increased their price target on GCM Grosvenor from $13.50 to $14.00 and gave the company a “buy” rating in a research note on Tuesday, May 26th. Finally, Wall Street Zen downgraded shares of GCM Grosvenor from a “buy” rating to a “hold” rating in a research note on Saturday, May 2nd. Three analysts have rated the stock with a Buy rating and one has given a Hold rating to the stock. Based on data from MarketBeat.com, GCM Grosvenor has a consensus rating of “Moderate Buy” and an average price target of $15.33.

GCM Grosvenor Stock Performance

NASDAQ GCMG opened at $12.90 on Friday. GCM Grosvenor has a twelve month low of $9.30 and a twelve month high of $14.38. The company has a quick ratio of 4.05, a current ratio of 4.05 and a debt-to-equity ratio of 2.97. The stock has a market cap of $2.61 billion, a P/E ratio of 28.67 and a beta of 0.83. The company’s 50-day simple moving average is $11.78 and its 200 day simple moving average is $11.24.

GCM Grosvenor (NASDAQ:GCMG) last issued its earnings results on Thursday, May 7th. The company reported $0.18 EPS for the quarter, meeting the consensus estimate of $0.18. The company had revenue of $124.78 million for the quarter, compared to the consensus estimate of $130.13 million. GCM Grosvenor had a net margin of 9.05% and a return on equity of 222.78%. As a group, research analysts forecast that GCM Grosvenor will post 0.66 earnings per share for the current fiscal year.

GCM Grosvenor Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, June 15th. Stockholders of record on Friday, June 5th were paid a $0.12 dividend. This represents a $0.48 dividend on an annualized basis and a dividend yield of 3.7%. The ex-dividend date of this dividend was Friday, June 5th. GCM Grosvenor’s dividend payout ratio is currently 106.67%.

Hedge Funds Weigh In On GCM Grosvenor

Several hedge funds and other institutional investors have recently bought and sold shares of GCMG. Renaissance Technologies LLC boosted its holdings in GCM Grosvenor by 0.5% in the first quarter. Renaissance Technologies LLC now owns 243,700 shares of the company’s stock worth $2,388,000 after acquiring an additional 1,200 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its holdings in GCM Grosvenor by 5.8% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 25,654 shares of the company’s stock worth $339,000 after purchasing an additional 1,412 shares during the last quarter. CANADA LIFE ASSURANCE Co boosted its holdings in GCM Grosvenor by 44.9% in the fourth quarter. CANADA LIFE ASSURANCE Co now owns 4,570 shares of the company’s stock worth $52,000 after purchasing an additional 1,417 shares during the last quarter. Taylor Frigon Capital Management LLC grew its position in GCM Grosvenor by 1.0% in the 4th quarter. Taylor Frigon Capital Management LLC now owns 154,837 shares of the company’s stock worth $1,753,000 after purchasing an additional 1,573 shares during the period. Finally, National Bank of Canada FI grew its position in GCM Grosvenor by 65.5% in the 3rd quarter. National Bank of Canada FI now owns 4,405 shares of the company’s stock worth $53,000 after purchasing an additional 1,743 shares during the period. Institutional investors and hedge funds own 99.95% of the company’s stock.

GCM Grosvenor Company Profile

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.