GCM Grosvenor (NASDAQ:GCMG) Sees Unusually-High Trading Volume – Here’s Why

GCM Grosvenor Inc. (NASDAQ:GCMG) shares saw an uptick in trading volume on Thursday . 454,878 shares were traded during mid-day trading, an increase of 146% from the previous session’s volume of 184,867 shares.The stock last traded at $12.37 and had previously closed at $12.43.

Wall Street Analysts Forecast Growth

GCMG has been the topic of several recent analyst reports. UBS Group boosted their target price on GCM Grosvenor from $9.50 to $12.00 and gave the stock a “neutral” rating in a research report on Tuesday, October 22nd. TD Cowen cut GCM Grosvenor from a “buy” rating to a “hold” rating and cut their price objective for the stock from $13.50 to $12.50 in a research report on Monday, November 11th. JPMorgan Chase & Co. decreased their target price on shares of GCM Grosvenor from $10.50 to $10.00 and set a “neutral” rating on the stock in a research report on Monday, August 12th. Piper Sandler increased their price target on shares of GCM Grosvenor from $10.50 to $11.50 and gave the company a “neutral” rating in a report on Wednesday, October 9th. Finally, Oppenheimer upped their target price on shares of GCM Grosvenor from $14.00 to $18.00 and gave the stock an “outperform” rating in a research report on Wednesday, October 16th. Four analysts have rated the stock with a hold rating and one has assigned a buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $12.80.

GCM Grosvenor Stock Down 1.5 %

The stock’s 50 day moving average is $11.52 and its 200 day moving average is $10.70.

GCM Grosvenor Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, December 16th. Stockholders of record on Monday, December 2nd will be given a $0.11 dividend. The ex-dividend date of this dividend is Monday, December 2nd. This represents a $0.44 annualized dividend and a dividend yield of 3.59%. GCM Grosvenor’s dividend payout ratio is presently -733.33%.

Insider Buying and Selling

In related news, insider Kathleen Patricia Sullivan sold 5,000 shares of GCM Grosvenor stock in a transaction dated Monday, September 9th. The stock was sold at an average price of $10.73, for a total transaction of $53,650.00. Following the completion of the sale, the insider now owns 47,307 shares in the company, valued at approximately $507,604.11. This trade represents a 9.56 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Insiders own 77.30% of the company’s stock.

Institutional Investors Weigh In On GCM Grosvenor

A number of hedge funds and other institutional investors have recently modified their holdings of GCMG. Copeland Capital Management LLC acquired a new stake in GCM Grosvenor during the third quarter worth approximately $58,000. LRI Investments LLC purchased a new stake in shares of GCM Grosvenor in the first quarter valued at $95,000. Price T Rowe Associates Inc. MD increased its stake in GCM Grosvenor by 23.1% in the first quarter. Price T Rowe Associates Inc. MD now owns 12,461 shares of the company’s stock valued at $121,000 after purchasing an additional 2,341 shares during the last quarter. Quadrature Capital Ltd lifted its position in GCM Grosvenor by 10.5% during the first quarter. Quadrature Capital Ltd now owns 14,401 shares of the company’s stock worth $139,000 after buying an additional 1,364 shares during the period. Finally, Susquehanna Fundamental Investments LLC purchased a new position in GCM Grosvenor during the second quarter worth about $157,000. 99.95% of the stock is currently owned by hedge funds and other institutional investors.

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.