Taylor Frigon Capital Management LLC Sells 6,072 Shares of GCM Grosvenor Inc. $GCMG

Taylor Frigon Capital Management LLC cut its holdings in shares of GCM Grosvenor Inc. (NASDAQ:GCMG) by 3.8% in the 2nd quarter, Holdings Channel reports. The firm owned 155,502 shares of the company’s stock after selling 6,072 shares during the period. Taylor Frigon Capital Management LLC’s holdings in GCM Grosvenor were worth $1,798,000 at the end of the most recent reporting period.

A number of other large investors have also recently modified their holdings of GCMG. Nuveen LLC bought a new position in GCM Grosvenor in the first quarter valued at about $10,312,000. Blair William & Co. IL increased its position in GCM Grosvenor by 272.2% during the 1st quarter. Blair William & Co. IL now owns 840,019 shares of the company’s stock worth $11,113,000 after purchasing an additional 614,324 shares in the last quarter. Penn Capital Management Company LLC acquired a new position in GCM Grosvenor during the 1st quarter worth approximately $7,086,000. New York State Common Retirement Fund lifted its stake in GCM Grosvenor by 4,385.3% in the 1st quarter. New York State Common Retirement Fund now owns 352,497 shares of the company’s stock valued at $4,664,000 after purchasing an additional 344,638 shares during the last quarter. Finally, Northern Trust Corp boosted its position in GCM Grosvenor by 61.2% in the first quarter. Northern Trust Corp now owns 848,389 shares of the company’s stock valued at $11,224,000 after buying an additional 322,062 shares in the last quarter. Institutional investors and hedge funds own 99.95% of the company’s stock.

GCM Grosvenor Stock Down 1.0%

NASDAQ GCMG opened at $12.27 on Monday. The company has a market capitalization of $2.38 billion, a price-to-earnings ratio of 81.80 and a beta of 0.75. GCM Grosvenor Inc. has a twelve month low of $10.91 and a twelve month high of $14.48. The stock has a fifty day simple moving average of $12.60 and a 200 day simple moving average of $12.46.

GCM Grosvenor Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, September 16th. Investors of record on Tuesday, September 2nd were paid a $0.11 dividend. This represents a $0.44 dividend on an annualized basis and a dividend yield of 3.6%. The ex-dividend date of this dividend was Tuesday, September 2nd. GCM Grosvenor’s payout ratio is currently 293.33%.

Insider Activity at GCM Grosvenor

In related news, insider Kathleen Patricia Sullivan sold 6,000 shares of the company’s stock in a transaction that occurred on Tuesday, August 12th. The stock was sold at an average price of $13.02, for a total value of $78,120.00. Following the sale, the insider directly owned 60,195 shares in the company, valued at $783,738.90. This represents a 9.06% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. 77.30% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

Several research analysts have recently issued reports on GCMG shares. Piper Sandler upped their price target on shares of GCM Grosvenor from $14.50 to $15.00 and gave the stock an “overweight” rating in a report on Friday, August 8th. Oppenheimer reiterated an “outperform” rating on shares of GCM Grosvenor in a research report on Friday, August 8th. Two research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $15.13.

GCM Grosvenor 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.