Royce & Associates LP Sells 516,201 Shares of GCM Grosvenor Inc. (NASDAQ:GCMG)

Royce & Associates LP lessened its holdings in GCM Grosvenor Inc. (NASDAQ:GCMG) by 13.3% during the 4th quarter, HoldingsChannel reports. The institutional investor owned 3,350,751 shares of the company’s stock after selling 516,201 shares during the period. Royce & Associates LP’s holdings in GCM Grosvenor were worth $41,114,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also recently bought and sold shares of the business. Wasatch Advisors LP increased its holdings in GCM Grosvenor by 0.9% in the 3rd quarter. Wasatch Advisors LP now owns 3,186,987 shares of the company’s stock valued at $36,077,000 after buying an additional 29,382 shares during the period. Massachusetts Financial Services Co. MA increased its holdings in GCM Grosvenor by 3.6% in the 3rd quarter. Massachusetts Financial Services Co. MA now owns 2,485,933 shares of the company’s stock valued at $28,141,000 after buying an additional 87,010 shares during the period. Bamco Inc. NY bought a new stake in GCM Grosvenor in the 3rd quarter valued at $19,810,000. State Street Corp increased its holdings in GCM Grosvenor by 2.0% in the 3rd quarter. State Street Corp now owns 1,053,204 shares of the company’s stock valued at $11,922,000 after buying an additional 20,225 shares during the period. Finally, Geode Capital Management LLC increased its holdings in GCM Grosvenor by 0.3% in the 3rd quarter. Geode Capital Management LLC now owns 1,004,614 shares of the company’s stock valued at $11,375,000 after buying an additional 2,607 shares during the period. Institutional investors own 99.95% of the company’s stock.

GCM Grosvenor Stock Up 1.7 %

Shares of NASDAQ:GCMG opened at $12.89 on Friday. GCM Grosvenor Inc. has a 12 month low of $8.80 and a 12 month high of $14.48. The company’s 50-day moving average price is $13.41 and its two-hundred day moving average price is $12.30. The firm has a market cap of $2.44 billion, a P/E ratio of 429.67 and a beta of 0.58.

GCM Grosvenor (NASDAQ:GCMG) last issued its quarterly earnings data on Monday, February 10th. The company reported $0.21 EPS for the quarter, missing analysts’ consensus estimates of $0.22 by ($0.01). GCM Grosvenor had a negative return on equity of 101.23% and a net margin of 3.64%. As a group, equities analysts predict that GCM Grosvenor Inc. will post 0.64 earnings per share for the current fiscal year.

GCM Grosvenor Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, March 17th. Shareholders of record on Monday, March 3rd will be issued a dividend of $0.11 per share. This represents a $0.44 dividend on an annualized basis and a yield of 3.41%. The ex-dividend date of this dividend is Monday, March 3rd. GCM Grosvenor’s dividend payout ratio is currently 1,466.67%.

Wall Street Analyst Weigh In

Several equities research analysts have issued reports on GCMG shares. Oppenheimer boosted their price target on shares of GCM Grosvenor from $18.00 to $20.00 and gave the company an “outperform” rating in a report on Thursday, December 12th. Piper Sandler raised shares of GCM Grosvenor from a “neutral” rating to an “overweight” rating and upped their target price for the stock from $12.50 to $14.00 in a report on Monday, December 23rd. Finally, UBS Group upped their target price on shares of GCM Grosvenor from $13.00 to $14.00 and gave the stock a “neutral” rating in a report on Wednesday, February 19th. Three research analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. Based on data from MarketBeat, GCM Grosvenor presently has a consensus rating of “Hold” and a consensus target price of $14.10.

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.