Oppenheimer Forecasts Strong Price Appreciation for GCM Grosvenor (NASDAQ:GCMG) Stock

GCM Grosvenor (NASDAQ:GCMG) had its price target increased by Oppenheimer from $18.00 to $20.00 in a research report report published on Thursday morning,Benzinga reports. Oppenheimer currently has an outperform rating on the stock.

Several other analysts have also recently issued reports on GCMG. Piper Sandler upped their price target on shares of GCM Grosvenor from $10.50 to $11.50 and gave the company a “neutral” rating in a report on Wednesday, October 9th. TD Cowen lowered GCM Grosvenor from a “buy” rating to a “hold” rating and dropped their price target for the company from $13.50 to $12.50 in a research report on Monday, November 11th. Finally, UBS Group lifted their price objective on shares of GCM Grosvenor from $9.50 to $12.00 and gave the stock a “neutral” rating in a report on Tuesday, October 22nd. Four equities research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. According to data from MarketBeat.com, GCM Grosvenor has a consensus rating of “Hold” and an average target price of $13.20.

GCM Grosvenor Stock Performance

Shares of NASDAQ GCMG opened at $12.35 on Thursday. The business has a 50 day moving average price of $11.86 and a two-hundred day moving average price of $10.97. GCM Grosvenor has a fifty-two week low of $8.05 and a fifty-two week high of $12.58.

GCM Grosvenor Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, December 16th. Investors of record on Monday, December 2nd will be paid a dividend of $0.11 per share. The ex-dividend date of this dividend is Monday, December 2nd. This represents a $0.44 dividend on an annualized basis and a yield of 3.56%. GCM Grosvenor’s payout ratio is currently -733.33%.

Institutional Investors Weigh In On GCM Grosvenor

Hedge funds have recently added to or reduced their stakes in the stock. Copeland Capital Management LLC bought a new position in GCM Grosvenor in the 3rd quarter worth about $58,000. Price T Rowe Associates Inc. MD boosted its position in GCM Grosvenor by 23.1% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 12,461 shares of the company’s stock worth $121,000 after acquiring an additional 2,341 shares during the period. Susquehanna Fundamental Investments LLC bought a new position in shares of GCM Grosvenor in the second quarter worth $157,000. SG Americas Securities LLC acquired a new position in shares of GCM Grosvenor during the third quarter valued at $191,000. Finally, Quest Partners LLC bought a new stake in shares of GCM Grosvenor during the third quarter valued at about $424,000. 99.95% of the stock is currently owned by 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.