GCM Grosvenor (NASDAQ:GCMG) Upgraded to “Buy” at Wall Street Zen

Wall Street Zen upgraded shares of GCM Grosvenor (NASDAQ:GCMG) from a hold rating to a buy rating in a research report report published on Saturday.

GCMG has been the topic of several other research reports. Weiss Ratings raised shares of GCM Grosvenor from a “buy (b-)” rating to a “buy (b)” rating in a research report on Thursday, August 13th. JPMorgan Chase & Co. raised their price target on shares of GCM Grosvenor from $12.00 to $13.00 and gave the stock a “neutral” rating in a report on Tuesday, August 11th. TD Cowen lifted their price objective on shares of GCM Grosvenor from $13.50 to $14.00 and gave the stock a “buy” rating in a research note on Tuesday, May 26th. Oppenheimer dropped their price objective on shares of GCM Grosvenor from $18.00 to $17.00 and set an “outperform” rating on the stock in a report on Friday, July 17th. Finally, Piper Sandler upped their target price on GCM Grosvenor from $15.00 to $16.00 and gave the company an “overweight” rating in a research report on Tuesday, August 11th. Four equities research analysts have rated the stock with a Buy rating and one has given a Hold rating to the company’s stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $15.00.

GCM Grosvenor Stock Up 0.3%

Shares of GCM Grosvenor stock opened at $13.72 on Friday. The company has a quick ratio of 1.89, a current ratio of 1.89 and a debt-to-equity ratio of 2.96. The company has a market cap of $2.78 billion, a P/E ratio of 26.39 and a beta of 0.84. The firm’s 50 day moving average price is $13.13 and its 200-day moving average price is $11.63. GCM Grosvenor has a 52-week low of $9.30 and a 52-week high of $14.87.

GCM Grosvenor (NASDAQ:GCMG) last announced its earnings results on Monday, August 10th. The company reported $0.19 earnings per share for the quarter, beating the consensus estimate of $0.18 by $0.01. The company had revenue of $134.34 million during the quarter, compared to the consensus estimate of $131.21 million. GCM Grosvenor had a net margin of 7.79% and a return on equity of 142.74%. On average, sell-side analysts predict that GCM Grosvenor will post 0.7 EPS for the current fiscal year.

GCM Grosvenor Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, September 15th. Stockholders of record on Tuesday, September 1st will be given a dividend of $0.12 per share. This represents a $0.48 annualized dividend and a dividend yield of 3.5%. The ex-dividend date is Tuesday, September 1st. GCM Grosvenor’s dividend payout ratio (DPR) is currently 92.31%.

Hedge Funds Weigh In On GCM Grosvenor

Several hedge funds have recently bought and sold shares of GCMG. Renaissance Technologies LLC lifted its holdings in GCM Grosvenor by 0.5% during the 1st quarter. Renaissance Technologies LLC now owns 243,700 shares of the company’s stock worth $2,388,000 after buying an additional 1,200 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its stake in shares of GCM Grosvenor by 5.8% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 25,654 shares of the company’s stock worth $339,000 after acquiring an additional 1,412 shares in the last quarter. CANADA LIFE ASSURANCE Co grew its stake in shares of GCM Grosvenor by 44.9% in the fourth quarter. CANADA LIFE ASSURANCE Co now owns 4,570 shares of the company’s stock worth $52,000 after acquiring an additional 1,417 shares in the last quarter. National Bank of Canada FI increased its position in shares of GCM Grosvenor by 65.5% during the third quarter. National Bank of Canada FI now owns 4,405 shares of the company’s stock worth $53,000 after acquiring an additional 1,743 shares during the period. Finally, Deutsche Bank AG raised its stake in shares of GCM Grosvenor by 2.6% in the fourth quarter. Deutsche Bank AG now owns 68,211 shares of the company’s stock valued at $772,000 after acquiring an additional 1,750 shares in the last quarter. Institutional investors and hedge funds own 99.95% of the company’s stock.

GCM Grosvenor Company Profile

GCM Grosvenor is a global alternative asset management firm that specializes in customized investment solutions across a range of private markets and hedge fund strategies. The firm partners with institutional clients—including pension funds, endowments, insurers and sovereign wealth funds—to design and implement portfolios that span private equity, infrastructure, real estate, credit and multi‐strategy hedge fund products. Through its multi‐manager platforms and direct co‐investment vehicles, GCM Grosvenor provides diversified access to opportunities that can enhance returns and manage risk in client portfolios.

Founded in 1971 as Grosvenor Capital Management, the firm has built a track record of sourcing, structuring and monitoring alternative investments on behalf of its clients.