GCM Grosvenor (NASDAQ:GCMG) Shares Gap Up – Here’s Why

GCM Grosvenor Inc. (NASDAQ:GCMG)’s share price gapped up before the market opened on Monday . The stock had previously closed at $11.75, but opened at $12.47. GCM Grosvenor shares last traded at $12.07, with a volume of 48,530 shares trading hands.

Analyst Ratings Changes

Several research analysts have recently issued reports on GCMG shares. UBS Group raised their price target on GCM Grosvenor from $9.50 to $12.00 and gave the stock a “neutral” rating in a research report on Tuesday, October 22nd. Oppenheimer boosted their target price on GCM Grosvenor from $18.00 to $20.00 and gave the stock an “outperform” rating in a research report on Thursday, December 12th. TD Cowen downgraded shares of GCM Grosvenor from a “buy” rating to a “hold” rating and cut their price target for the company from $13.50 to $12.50 in a research report on Monday, November 11th. Finally, Piper Sandler raised shares of GCM Grosvenor from a “neutral” rating to an “overweight” rating and lifted their price objective for the stock from $12.50 to $14.00 in a research note on Monday. Three investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $13.70.

GCM Grosvenor Stock Up 3.4 %

The company’s fifty day moving average price is $11.95 and its two-hundred day moving average price is $11.07. The company has a market cap of $2.30 billion, a price-to-earnings ratio of -202.50 and a beta of 0.56.

GCM Grosvenor Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, December 16th. Shareholders of record on Monday, December 2nd were paid a $0.11 dividend. This represents a $0.44 annualized dividend and a dividend yield of 3.62%. The ex-dividend date of this dividend was Monday, December 2nd. GCM Grosvenor’s dividend payout ratio is -733.33%.

Institutional Investors Weigh In On GCM Grosvenor

Institutional investors have recently bought and sold shares of the company. Ariel Investments LLC raised its holdings in shares of GCM Grosvenor by 1.5% in the second quarter. Ariel Investments LLC now owns 4,546,096 shares of the company’s stock valued at $44,370,000 after purchasing an additional 66,016 shares during the last quarter. Wasatch Advisors LP increased its stake in GCM Grosvenor by 0.9% in the 3rd quarter. Wasatch Advisors LP now owns 3,186,987 shares of the company’s stock valued at $36,077,000 after buying an additional 29,382 shares during the last quarter. Massachusetts Financial Services Co. MA increased its stake in GCM Grosvenor by 3.6% in the 3rd quarter. Massachusetts Financial Services Co. MA now owns 2,485,933 shares of the company’s stock valued at $28,141,000 after buying an additional 87,010 shares during the last quarter. Bamco Inc. NY bought a new stake in GCM Grosvenor during the 3rd quarter worth about $19,810,000. Finally, State Street Corp boosted its stake in shares of GCM Grosvenor by 2.0% during the 3rd quarter. State Street Corp now owns 1,053,204 shares of the company’s stock worth $11,922,000 after buying an additional 20,225 shares during the last quarter. Institutional investors own 99.95% of the company’s stock.

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.