GCM Grosvenor (NASDAQ:GCMG) Reaches New 52-Week High – Should You Buy?

GCM Grosvenor Inc. (NASDAQ:GCMG) reached a new 52-week high during trading on Tuesday . The stock traded as high as $13.71 and last traded at $13.47, with a volume of 2373 shares traded. The stock had previously closed at $13.42.

Analyst Ratings Changes

GCMG has been the subject of a number of research analyst reports. Oppenheimer lifted their price target 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. Piper Sandler upgraded shares of GCM Grosvenor from a “neutral” rating to an “overweight” rating and boosted their target price for the company from $12.50 to $14.00 in a research note on Monday, December 23rd. TD Cowen downgraded GCM Grosvenor from a “buy” rating to a “hold” rating and dropped their price target for the stock from $13.50 to $12.50 in a research note on Monday, November 11th. Finally, UBS Group upped 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. Three research analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $13.70.

GCM Grosvenor Trading Up 0.5 %

The stock has a market capitalization of $2.57 billion, a PE ratio of -226.33 and a beta of 0.56. The firm has a 50 day moving average price of $12.69 and a 200 day moving average price of $11.76.

GCM Grosvenor (NASDAQ:GCMG) last posted its quarterly earnings data on Friday, November 8th. The company reported $0.14 EPS for the quarter, topping the consensus estimate of $0.13 by $0.01. The firm had revenue of $122.93 million for the quarter, compared to the consensus estimate of $126.39 million. GCM Grosvenor had a negative return on equity of 73.06% and a net margin of 3.08%. During the same quarter last year, the company earned $0.14 earnings per share. On average, equities research analysts expect that GCM Grosvenor Inc. will post 0.51 EPS for the current year.

Hedge Funds Weigh In On GCM Grosvenor

Several hedge funds have recently modified their holdings of GCMG. Barclays PLC grew its stake in GCM Grosvenor by 56.9% during the third quarter. Barclays PLC now owns 113,823 shares of the company’s stock valued at $1,288,000 after acquiring an additional 41,259 shares in the last quarter. Millennium Management LLC increased its holdings in shares of GCM Grosvenor by 169.7% in the 2nd quarter. Millennium Management LLC now owns 418,066 shares of the company’s stock worth $4,080,000 after buying an additional 263,064 shares during the last quarter. JPMorgan Chase & Co. raised its position in shares of GCM Grosvenor by 232.0% during the 3rd quarter. JPMorgan Chase & Co. now owns 100,980 shares of the company’s stock valued at $1,143,000 after buying an additional 70,565 shares in the last quarter. Massachusetts Financial Services Co. MA grew its position in GCM Grosvenor by 3.6% in the third quarter. Massachusetts Financial Services Co. MA now owns 2,485,933 shares of the company’s stock worth $28,141,000 after acquiring an additional 87,010 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. increased its stake in 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 acquiring an additional 3,047 shares during the last quarter. Hedge funds and other institutional investors own 99.95% of the company’s stock.

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.