GCM Grosvenor Inc. (NASDAQ:GCMG) Short Interest Down 5.3% in June

GCM Grosvenor Inc. (NASDAQ:GCMG) was the target of a significant decline in short interest in the month of June. As of June 15th, there was short interest totalling 2,480,000 shares, a decline of 5.3% from the May 31st total of 2,620,000 shares. Based on an average daily volume of 153,200 shares, the short-interest ratio is currently 16.2 days. Currently, 5.8% of the shares of the company are short sold.

Institutional Investors Weigh In On GCM Grosvenor

Institutional investors have recently added to or reduced their stakes in the stock. New York State Common Retirement Fund boosted its holdings in GCM Grosvenor by 30.3% during the fourth quarter. New York State Common Retirement Fund now owns 9,951 shares of the company’s stock valued at $89,000 after purchasing an additional 2,312 shares in the last quarter. Quadrature Capital Ltd acquired a new position in shares of GCM Grosvenor in the 4th quarter worth approximately $117,000. SG Americas Securities LLC acquired a new position in shares of GCM Grosvenor in the 4th quarter worth approximately $109,000. Wasatch Advisors LP boosted its holdings in shares of GCM Grosvenor by 111.5% in the 1st quarter. Wasatch Advisors LP now owns 2,342,156 shares of the company’s stock worth $22,625,000 after acquiring an additional 1,234,505 shares in the last quarter. Finally, Russell Investments Group Ltd. boosted its holdings in shares of GCM Grosvenor by 65.0% in the 4th quarter. Russell Investments Group Ltd. now owns 550,655 shares of the company’s stock worth $4,934,000 after acquiring an additional 216,964 shares in the last quarter. 99.95% of the stock is owned by institutional investors and hedge funds.

GCM Grosvenor Trading Down 1.1 %

GCMG traded down $0.11 on Wednesday, hitting $9.79. 42,642 shares of the stock traded hands, compared to its average volume of 170,452. The business has a fifty day moving average price of $9.76 and a two-hundred day moving average price of $9.18. The firm has a market capitalization of $1.85 billion, a PE ratio of -30.59 and a beta of 0.54. GCM Grosvenor has a 52 week low of $7.25 and a 52 week high of $10.20.

GCM Grosvenor (NASDAQ:GCMG) last released its quarterly earnings data on Tuesday, May 7th. The company reported $0.04 earnings per share for the quarter, missing analysts’ consensus estimates of $0.09 by ($0.05). The company had revenue of $108.87 million for the quarter, compared to analyst estimates of $114.23 million. GCM Grosvenor had a net margin of 3.55% and a negative return on equity of 67.14%. On average, equities research analysts forecast that GCM Grosvenor will post 0.52 EPS for the current fiscal year.

GCM Grosvenor Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, June 17th. Shareholders of record on Monday, June 3rd were issued a dividend of $0.11 per share. This represents a $0.44 dividend on an annualized basis and a yield of 4.49%. The ex-dividend date was Monday, June 3rd. GCM Grosvenor’s payout ratio is -137.50%.

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on GCMG. UBS Group boosted their price target on GCM Grosvenor from $9.00 to $9.50 and gave the company a “neutral” rating in a research note on Friday, April 12th. Piper Sandler boosted their price target on GCM Grosvenor from $10.00 to $10.50 and gave the company a “neutral” rating in a research note on Monday, May 20th. Finally, TD Cowen boosted their price target on GCM Grosvenor from $11.00 to $11.50 and gave the company a “buy” rating in a research note on Thursday, May 9th.

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.