Yarbrough Capital LLC Buys New Shares in GCM Grosvenor Inc. (NASDAQ:GCMG)

Yarbrough Capital LLC bought a new stake in shares of GCM Grosvenor Inc. (NASDAQ:GCMG) during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 27,702 shares of the company’s stock, valued at approximately $366,000.

Several other institutional investors and hedge funds also recently bought and sold shares of the stock. Ameriprise Financial Inc. lifted its position in GCM Grosvenor by 9.7% during the fourth quarter. Ameriprise Financial Inc. now owns 5,892,934 shares of the company’s stock valued at $72,306,000 after purchasing an additional 519,226 shares in the last quarter. Bamco Inc. NY lifted its position in GCM Grosvenor by 25.7% during the fourth quarter. Bamco Inc. NY now owns 2,200,000 shares of the company’s stock valued at $26,994,000 after purchasing an additional 450,000 shares in the last quarter. Arrowstreet Capital Limited Partnership lifted its position in GCM Grosvenor by 40.0% during the fourth quarter. Arrowstreet Capital Limited Partnership now owns 404,562 shares of the company’s stock valued at $4,964,000 after purchasing an additional 115,546 shares in the last quarter. The Manufacturers Life Insurance Company lifted its position in GCM Grosvenor by 2,277.6% during the fourth quarter. The Manufacturers Life Insurance Company now owns 402,094 shares of the company’s stock valued at $4,934,000 after purchasing an additional 385,182 shares in the last quarter. Finally, Nuveen Asset Management LLC lifted its position in GCM Grosvenor by 39.3% during the fourth quarter. Nuveen Asset Management LLC now owns 376,276 shares of the company’s stock valued at $4,617,000 after purchasing an additional 106,180 shares in the last quarter. 99.95% of the stock is currently owned by hedge funds and other institutional investors.

GCM Grosvenor Stock Down 0.3%

Shares of GCM Grosvenor stock opened at $12.50 on Friday. The stock’s 50-day simple moving average is $12.53 and its 200-day simple moving average is $12.85. GCM Grosvenor Inc. has a 52 week low of $9.25 and a 52 week high of $14.48. The company has a market capitalization of $2.43 billion, a price-to-earnings ratio of 416.67 and a beta of 0.73.

GCM Grosvenor Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, June 16th. Stockholders of record on Friday, June 6th will be issued a $0.11 dividend. The ex-dividend date of this dividend is Friday, June 6th. This represents a $0.44 annualized dividend and a dividend yield of 3.52%. GCM Grosvenor’s dividend payout ratio (DPR) is 314.29%.

Analyst Upgrades and Downgrades

Several brokerages have recently commented on GCMG. Piper Sandler lowered their price objective on GCM Grosvenor from $16.00 to $14.50 and set an “overweight” rating on the stock in a research report on Tuesday, April 8th. UBS Group boosted their price objective on GCM Grosvenor from $13.00 to $14.00 and gave the company a “neutral” rating in a research report on Wednesday, February 19th. Finally, Oppenheimer boosted their price objective on GCM Grosvenor from $16.00 to $17.00 and gave the company an “outperform” rating in a research report on Friday, May 9th. Three analysts have rated the stock with a hold rating and two have given a buy rating to the stock. According to MarketBeat, the company has an average rating of “Hold” and a consensus price target of $13.60.

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.