Short Interest in GCM Grosvenor Inc. (NASDAQ:GCMG) Grows By 43.3%

GCM Grosvenor Inc. (NASDAQ:GCMG) was the recipient of a significant increase in short interest in December. As of December 15th, there was short interest totalling 5,530,000 shares, an increase of 43.3% from the November 30th total of 3,860,000 shares. Based on an average daily volume of 249,600 shares, the days-to-cover ratio is currently 22.2 days. Currently, 12.7% of the shares of the company are short sold.

GCM Grosvenor Price Performance

Shares of NASDAQ:GCMG traded up $0.11 during midday trading on Monday, hitting $12.33. The company had a trading volume of 148,669 shares, compared to its average volume of 196,283. GCM Grosvenor has a 12-month low of $8.05 and a 12-month high of $12.58. The company has a fifty day moving average of $12.04 and a two-hundred day moving average of $11.16. The company has a market cap of $2.33 billion, a price-to-earnings ratio of -205.50 and a beta of 0.56.

GCM Grosvenor Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, December 16th. Stockholders of record on Monday, December 2nd were paid a $0.11 dividend. The ex-dividend date of this dividend was Monday, December 2nd. This represents a $0.44 dividend on an annualized basis and a dividend yield of 3.57%. GCM Grosvenor’s dividend payout ratio (DPR) is presently -733.33%.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the company. Millennium Management LLC raised its stake in GCM Grosvenor by 169.7% during the 2nd quarter. Millennium Management LLC now owns 418,066 shares of the company’s stock valued at $4,080,000 after purchasing an additional 263,064 shares during the period. Massachusetts Financial Services Co. MA increased its holdings 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 acquiring an additional 87,010 shares during the last quarter. Barclays PLC boosted its holdings in shares of GCM Grosvenor by 56.9% during the 3rd quarter. Barclays PLC now owns 113,823 shares of the company’s stock valued at $1,288,000 after purchasing an additional 41,259 shares during the last quarter. Ariel Investments LLC grew its position in shares of GCM Grosvenor by 1.5% during 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 in the last quarter. Finally, Charles Schwab Investment Management Inc. increased its holdings in shares of GCM Grosvenor by 2.6% in the third quarter. Charles Schwab Investment Management Inc. now owns 120,317 shares of the company’s stock worth $1,362,000 after purchasing an additional 3,047 shares during the last quarter. Hedge funds and other institutional investors own 99.95% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages recently weighed in on GCMG. UBS Group increased their price objective on shares of GCM Grosvenor from $9.50 to $12.00 and gave the company a “neutral” rating in a research report on Tuesday, October 22nd. Oppenheimer raised their price target on GCM Grosvenor from $18.00 to $20.00 and gave the stock an “outperform” rating in a research note on Thursday, December 12th. TD Cowen cut GCM Grosvenor from a “buy” rating to a “hold” rating and reduced their price objective for the company from $13.50 to $12.50 in a research report on Monday, November 11th. Finally, Piper Sandler raised GCM Grosvenor from a “neutral” rating to an “overweight” rating and raised their target price for the stock from $12.50 to $14.00 in a research report on Monday, December 23rd. Three analysts have rated the stock with a hold rating and two have given a buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $13.70.

GCM Grosvenor Company Profile

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.