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

GCM Grosvenor Inc. (NASDAQ:GCMG)’s stock price hit a new 52-week high during trading on Monday . The stock traded as high as $14.44 and last traded at $13.97, with a volume of 97989 shares traded. The stock had previously closed at $13.56.

Wall Street Analyst Weigh In

A number of equities analysts have recently commented on the company. TD Cowen downgraded 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 report on Monday, November 11th. Oppenheimer lifted their price target on shares of GCM Grosvenor from $18.00 to $20.00 and gave the company an “outperform” rating in a research report on Thursday, December 12th. UBS Group increased their price objective on shares of GCM Grosvenor from $9.50 to $12.00 and gave the stock a “neutral” rating in a research report on Tuesday, October 22nd. Finally, Piper Sandler raised shares of GCM Grosvenor from a “neutral” rating to an “overweight” rating and upped their price target for the stock from $12.50 to $14.00 in a research report on Monday, December 23rd. 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 data from MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $13.70.

GCM Grosvenor Price Performance

The firm has a market capitalization of $2.64 billion, a price-to-earnings ratio of -232.92 and a beta of 0.56. The business’s 50-day moving average price is $12.74 and its 200 day moving average price is $11.81.

GCM Grosvenor (NASDAQ:GCMG) last posted its quarterly earnings data on Monday, February 10th. The company reported $0.21 earnings per share for the quarter, missing analysts’ consensus estimates of $0.22 by ($0.01). GCM Grosvenor had a net margin of 3.08% and a negative return on equity of 73.06%. As a group, sell-side analysts expect that GCM Grosvenor Inc. will post 0.51 earnings per share for the current year.

Institutional Trading of GCM Grosvenor

A number of hedge funds have recently made changes to their positions in GCMG. Bamco Inc. NY bought a new position in GCM Grosvenor during the third quarter worth $19,810,000. Millennium Management LLC raised its holdings in shares of GCM Grosvenor by 169.7% during the second quarter. Millennium Management LLC now owns 418,066 shares of the company’s stock worth $4,080,000 after purchasing an additional 263,064 shares during the period. Massachusetts Financial Services Co. MA lifted its position in shares of 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 worth $28,141,000 after buying an additional 87,010 shares during the last quarter. JPMorgan Chase & Co. grew 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 during the last quarter. Finally, Allspring Global Investments Holdings LLC raised its stake in GCM Grosvenor by 86,424.6% during the fourth quarter. Allspring Global Investments Holdings LLC now owns 59,702 shares of the company’s stock worth $733,000 after acquiring an additional 59,633 shares during the period. Institutional investors and hedge funds own 99.95% of the company’s stock.

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.