GCM Grosvenor (NASDAQ:GCMG) Hits New 52-Week High – Still a Buy?

GCM Grosvenor Inc. (NASDAQ:GCMG)’s share price reached a new 52-week high during mid-day trading on Tuesday . The company traded as high as $13.09 and last traded at $13.19, with a volume of 343321 shares trading hands. The stock had previously closed at $12.98.

Analysts Set New Price Targets

GCMG has been the topic of several recent research reports. Oppenheimer increased their price objective on shares of 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 downgraded shares of GCM Grosvenor from a “buy” rating to a “hold” rating and lowered their price target for the company from $13.50 to $12.50 in a report on Monday, November 11th. UBS Group boosted their price objective on GCM Grosvenor from $9.50 to $12.00 and gave the company a “neutral” rating in a research report on Tuesday, October 22nd. Finally, Piper Sandler raised GCM Grosvenor from a “neutral” rating to an “overweight” rating and lifted their price objective for the stock from $12.50 to $14.00 in a research note on Monday, December 23rd. Three research analysts have rated the stock with a hold rating and two have issued a buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $13.70.

GCM Grosvenor Price Performance

The company has a market cap of $2.50 billion, a PE ratio of -219.90 and a beta of 0.56. The stock’s 50-day moving average is $12.35 and its 200 day moving average is $11.50.

GCM Grosvenor Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, December 16th. Investors of record on Monday, December 2nd were paid a $0.11 dividend. This represents a $0.44 dividend on an annualized basis and a yield of 3.33%. The ex-dividend date was Monday, December 2nd. GCM Grosvenor’s dividend payout ratio (DPR) is presently -733.33%.

Hedge Funds Weigh In On GCM Grosvenor

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in GCMG. Barclays PLC boosted its stake in shares of GCM Grosvenor by 56.9% during the 3rd quarter. Barclays PLC now owns 113,823 shares of the company’s stock worth $1,288,000 after acquiring an additional 41,259 shares in the last quarter. Millennium Management LLC raised its stake in GCM Grosvenor by 169.7% in 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 last quarter. Massachusetts Financial Services Co. MA boosted its stake in GCM Grosvenor by 3.6% during the 3rd quarter. Massachusetts Financial Services Co. MA now owns 2,485,933 shares of the company’s stock worth $28,141,000 after purchasing an additional 87,010 shares during the last quarter. Charles Schwab Investment Management Inc. grew its holdings in shares of GCM Grosvenor by 2.6% during the third quarter. Charles Schwab Investment Management Inc. now owns 120,317 shares of the company’s stock worth $1,362,000 after buying an additional 3,047 shares in the last quarter. Finally, Ariel Investments LLC raised its position in shares of GCM Grosvenor by 1.5% in the second quarter. Ariel Investments LLC now owns 4,546,096 shares of the company’s stock valued at $44,370,000 after buying an additional 66,016 shares during the last quarter. Hedge funds and other institutional investors own 99.95% of the company’s stock.

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.