GCM Grosvenor Inc. (NASDAQ:GCMG) Short Interest Up 43.3% in December

by · The Markets Daily

GCM Grosvenor Inc. (NASDAQ:GCMG – Get Free Report) saw a significant growth in short interest in the month of December. As of December 15th, there was short interest totalling 5,530,000 shares, a growth of 43.3% from the November 30th total of 3,860,000 shares. Currently, 12.7% of the company’s shares are sold short. Based on an average daily trading volume, of 249,600 shares, the days-to-cover ratio is presently 22.2 days.

GCM Grosvenor Stock Performance

GCMG stock traded up $0.11 during trading on Monday, reaching $12.33. 148,669 shares of the company traded hands, compared to its average volume of 196,283. The business has a 50 day simple moving average of $12.04 and a 200 day simple moving average of $11.16. GCM Grosvenor has a 12 month low of $8.05 and a 12 month high of $12.58. The company has a market capitalization of $2.33 billion, a price-to-earnings ratio of -205.50 and a beta of 0.56.

GCM Grosvenor Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, December 16th. Stockholders of record on Monday, December 2nd were given a $0.11 dividend. This represents a $0.44 dividend on an annualized basis and a dividend yield of 3.57%. The ex-dividend date of this dividend was Monday, December 2nd. GCM Grosvenor’s payout ratio is currently -733.33%.

Wall Street Analyst Weigh In

Several equities research analysts have recently weighed in on the stock. UBS Group increased their target price on shares of GCM Grosvenor from $9.50 to $12.00 and gave the company a “neutral” rating in a research note on Tuesday, October 22nd. TD Cowen downgraded shares of GCM Grosvenor from a “buy” rating to a “hold” rating and decreased their price objective for the stock from $13.50 to $12.50 in a research note on Monday, November 11th. Piper Sandler raised GCM Grosvenor from a “neutral” rating to an “overweight” rating and upped their target price for the company from $12.50 to $14.00 in a research note on Monday, December 23rd. Finally, Oppenheimer raised their price target on GCM Grosvenor from $18.00 to $20.00 and gave the stock an “outperform” rating in a research note on Thursday, December 12th. Three analysts have rated the stock with a hold rating and two have issued a buy rating to the company. According to MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $13.70.

View Our Latest Stock Report on GCM Grosvenor

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of the company. JPMorgan Chase & Co. increased its holdings in shares of GCM Grosvenor by 232.0% during the third quarter. JPMorgan Chase & Co. now owns 100,980 shares of the company’s stock valued at $1,143,000 after acquiring an additional 70,565 shares in the last quarter. Barclays PLC raised its holdings in shares of GCM Grosvenor by 56.9% in the third quarter. Barclays PLC now owns 113,823 shares of the company’s stock worth $1,288,000 after buying an additional 41,259 shares during the last quarter. Geode Capital Management LLC raised its holdings in shares of GCM Grosvenor by 0.3% in the third quarter. Geode Capital Management LLC now owns 1,004,614 shares of the company’s stock worth $11,375,000 after buying an additional 2,607 shares during the last quarter. State Street Corp lifted its stake in shares of GCM Grosvenor by 2.0% during the third quarter. State Street Corp now owns 1,053,204 shares of the company’s stock worth $11,922,000 after buying an additional 20,225 shares during the period. Finally, Bamco Inc. NY purchased a new stake in shares of GCM Grosvenor during the third quarter valued at $19,810,000. Institutional investors own 99.95% of the company’s stock.

About GCM Grosvenor

(Get Free Report)

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.

Featured Articles