GCM Grosvenor (NASDAQ:GCMG) Announces Quarterly Earnings Results

GCM Grosvenor (NASDAQ:GCMG) released its quarterly earnings results on Monday. The company reported $0.21 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.22 by ($0.01), Zacks reports. GCM Grosvenor had a net margin of 3.08% and a negative return on equity of 73.06%.

GCM Grosvenor Stock Down 2.5 %

Shares of GCMG opened at $13.72 on Wednesday. The business has a fifty day moving average of $12.80 and a 200 day moving average of $11.85. The company has a market cap of $2.59 billion, a PE ratio of -228.67 and a beta of 0.56. GCM Grosvenor has a 52-week low of $8.05 and a 52-week high of $14.44.

GCM Grosvenor Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, March 17th. Stockholders of record on Monday, March 3rd will be given a dividend of $0.11 per share. This represents a $0.44 annualized dividend and a dividend yield of 3.21%. The ex-dividend date of this dividend is Monday, March 3rd. GCM Grosvenor’s dividend payout ratio is currently 1,466.67%.

Wall Street Analyst Weigh In

GCMG has been the subject of a number of analyst reports. UBS Group upped 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. Piper Sandler raised shares of GCM Grosvenor from a “neutral” rating to an “overweight” rating and increased their target price for the stock from $12.50 to $14.00 in a report on Monday, December 23rd. Oppenheimer upped their price target on shares of GCM Grosvenor from $18.00 to $20.00 and gave the stock an “outperform” rating in a research report on Thursday, December 12th. Finally, TD Cowen downgraded shares of GCM Grosvenor from a “buy” rating to a “hold” rating and decreased their price objective for the company from $13.50 to $12.50 in a research report on Monday, November 11th. Three equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. According to MarketBeat.com, GCM Grosvenor currently has an average rating of “Hold” and a consensus target price of $13.70.

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.