GCM Grosvenor (NASDAQ:GCMG) Given New $11.50 Price Target at Piper Sandler

GCM Grosvenor (NASDAQ:GCMG) had its target price increased by investment analysts at Piper Sandler from $10.50 to $11.50 in a research report issued to clients and investors on Wednesday, Benzinga reports. The brokerage presently has a “neutral” rating on the stock. Piper Sandler’s price target indicates a potential upside of 2.68% from the company’s current price.

Several other research firms have also weighed in on GCMG. TD Cowen increased their price target on GCM Grosvenor from $12.00 to $14.00 and gave the company a “buy” rating in a report on Friday, August 9th. Oppenheimer reduced their target price on shares of GCM Grosvenor from $15.00 to $14.00 and set an “outperform” rating on the stock in a research note on Friday, August 9th. Finally, JPMorgan Chase & Co. lowered their target price on shares of GCM Grosvenor from $10.50 to $10.00 and set a “neutral” rating for the company in a report on Monday, August 12th. Three research analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. According to data from MarketBeat, GCM Grosvenor currently has an average rating of “Hold” and an average price target of $11.80.

GCM Grosvenor Trading Down 0.7 %

Shares of NASDAQ GCMG opened at $11.20 on Wednesday. GCM Grosvenor has a 12-month low of $7.70 and a 12-month high of $11.60. The firm’s 50-day moving average price is $10.96 and its 200-day moving average price is $10.23. The stock has a market capitalization of $2.11 billion, a price-to-earnings ratio of -35.00 and a beta of 0.54.

GCM Grosvenor (NASDAQ:GCMG) last issued its quarterly earnings data on Thursday, August 8th. The company reported $0.14 earnings per share for the quarter, topping the consensus estimate of $0.12 by $0.02. The company had revenue of $116.95 million for the quarter, compared to analysts’ expectations of $117.12 million. GCM Grosvenor had a negative return on equity of 73.82% and a net margin of 3.46%. On average, equities analysts predict that GCM Grosvenor will post 0.5 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, insider Kathleen Patricia Sullivan sold 5,000 shares of the company’s stock in a transaction dated Monday, September 9th. The shares were sold at an average price of $10.73, for a total value of $53,650.00. Following the transaction, the insider now directly owns 47,307 shares in the company, valued at approximately $507,604.11. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Insiders own 77.30% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of the company. Ariel Investments LLC grew its position in shares of GCM Grosvenor by 1.5% during the 2nd quarter. Ariel Investments LLC now owns 4,546,096 shares of the company’s stock worth $44,370,000 after buying an additional 66,016 shares in the last quarter. Vanguard Group Inc. grew its holdings in GCM Grosvenor by 0.9% during the 1st quarter. Vanguard Group Inc. now owns 4,149,609 shares of the company’s stock worth $40,085,000 after acquiring an additional 37,852 shares in the last quarter. Wasatch Advisors LP increased its position in GCM Grosvenor by 111.5% during the 1st quarter. Wasatch Advisors LP now owns 2,342,156 shares of the company’s stock valued at $22,625,000 after purchasing an additional 1,234,505 shares during the period. Russell Investments Group Ltd. raised its holdings in shares of GCM Grosvenor by 23.7% in the 1st quarter. Russell Investments Group Ltd. now owns 681,202 shares of the company’s stock valued at $6,580,000 after purchasing an additional 130,547 shares in the last quarter. Finally, Renaissance Technologies LLC lifted its position in shares of GCM Grosvenor by 9.9% in the 2nd quarter. Renaissance Technologies LLC now owns 482,400 shares of the company’s stock worth $4,708,000 after purchasing an additional 43,600 shares during the period. 99.95% of the stock is currently owned by hedge funds and other institutional investors.

GCM Grosvenor Company 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.