GCM Grosvenor (NASDAQ:GCMG) Hits New 12-Month High – Still a Buy?

GCM Grosvenor Inc. (NASDAQ:GCMG) shares hit a new 52-week high during trading on Thursday . The stock traded as high as $12.90 and last traded at $12.86, with a volume of 384938 shares changing hands. The stock had previously closed at $12.72.

Wall Street Analyst Weigh In

A number of research firms have recently commented on GCMG. 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. TD Cowen lowered shares of GCM Grosvenor from a “buy” rating to a “hold” rating and cut their price target for the stock from $13.50 to $12.50 in a report on Monday, November 11th. Piper Sandler raised shares of GCM Grosvenor from a “neutral” rating to an “overweight” rating and increased their price objective for the company from $12.50 to $14.00 in a report on Monday, December 23rd. Finally, Oppenheimer boosted their target price 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. Three investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $13.70.

GCM Grosvenor Trading Down 0.8 %

The business has a fifty day simple moving average of $12.22 and a two-hundred day simple moving average of $11.35. The company has a market cap of $2.41 billion, a PE ratio of -212.67 and a beta of 0.56.

GCM Grosvenor Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, December 16th. Shareholders of record on Monday, December 2nd were issued a $0.11 dividend. The ex-dividend date of this dividend was Monday, December 2nd. This represents a $0.44 dividend on an annualized basis and a yield of 3.45%. GCM Grosvenor’s payout ratio is -733.33%.

Institutional Investors Weigh In On GCM Grosvenor

Large investors have recently made changes to their positions in the stock. Copeland Capital Management LLC acquired a new position in GCM Grosvenor during the third quarter worth $58,000. Susquehanna Fundamental Investments LLC acquired a new position in shares of GCM Grosvenor during the 2nd quarter valued at about $157,000. SG Americas Securities LLC purchased a new stake in shares of GCM Grosvenor in the third quarter valued at about $191,000. Quest Partners LLC acquired a new stake in GCM Grosvenor during the third quarter worth about $424,000. Finally, PDT Partners LLC purchased a new position in GCM Grosvenor during the third quarter worth about $449,000. 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.