GCM Grosvenor Inc. (NASDAQ:GCMG) Sees Significant Increase in Short Interest
by Sarita Garza · The Markets DailyGCM Grosvenor Inc. (NASDAQ:GCMG – Get Free Report) was the recipient of a significant growth in short interest in February. As of February 27th, there was short interest totaling 1,726,778 shares, a growth of 53.2% from the February 12th total of 1,127,031 shares. Currently, 3.8% of the company’s shares are sold short. Based on an average daily volume of 530,668 shares, the short-interest ratio is currently 3.3 days. Based on an average daily volume of 530,668 shares, the short-interest ratio is currently 3.3 days. Currently, 3.8% of the company’s shares are sold short.
Analysts Set New Price Targets
GCMG has been the subject of several research analyst reports. Wall Street Zen raised shares of GCM Grosvenor from a “hold” rating to a “buy” rating in a research report on Saturday, November 15th. Weiss Ratings cut GCM Grosvenor from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Monday, January 12th. Finally, Oppenheimer reissued an “outperform” rating and issued a $24.00 price objective on shares of GCM Grosvenor in a research note on Wednesday, February 11th. Two analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $19.00.
Get Our Latest Stock Report on GCMG
Insider Activity
In other GCM Grosvenor news, CFO Pamela L. Bentley sold 40,000 shares of the stock in a transaction dated Tuesday, December 16th. The stock was sold at an average price of $11.61, for a total transaction of $464,400.00. Following the completion of the transaction, the chief financial officer owned 43,309 shares in the company, valued at approximately $502,817.49. This represents a 48.01% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 76.40% of the stock is owned by company insiders.
Hedge Funds Weigh In On GCM Grosvenor
Several institutional investors have recently modified their holdings of GCMG. Royal Bank of Canada increased its stake in GCM Grosvenor by 942.2% in the 1st quarter. Royal Bank of Canada now owns 79,085 shares of the company’s stock worth $1,046,000 after purchasing an additional 71,497 shares during the period. AQR Capital Management LLC grew its holdings in shares of GCM Grosvenor by 81.6% during the 1st quarter. AQR Capital Management LLC now owns 29,403 shares of the company’s stock worth $389,000 after acquiring an additional 13,214 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its holdings in GCM Grosvenor by 5.8% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 25,654 shares of the company’s stock worth $339,000 after purchasing an additional 1,412 shares in the last quarter. Millennium Management LLC lifted its position in GCM Grosvenor by 88.9% during the 1st quarter. Millennium Management LLC now owns 577,977 shares of the company’s stock valued at $7,647,000 after acquiring an additional 271,989 shares during the period. Finally, Envestnet Asset Management Inc. grew its stake in shares of GCM Grosvenor by 18.1% in the 2nd quarter. Envestnet Asset Management Inc. now owns 116,019 shares of the company’s stock worth $1,341,000 after buying an additional 17,752 shares during the last quarter. 99.95% of the stock is currently owned by institutional investors.
GCM Grosvenor Stock Down 0.6%
GCMG stock traded down $0.06 during trading on Friday, reaching $10.35. 1,058,954 shares of the stock were exchanged, compared to its average volume of 679,209. GCM Grosvenor has a twelve month low of $9.86 and a twelve month high of $13.55. The firm’s 50 day moving average is $11.40 and its 200 day moving average is $11.64. The company has a current ratio of 1.72, a quick ratio of 1.72 and a debt-to-equity ratio of 3.36. The firm has a market cap of $2.10 billion, a P/E ratio of 27.97 and a beta of 0.80.
GCM Grosvenor (NASDAQ:GCMG – Get Free Report) last posted its quarterly earnings data on Tuesday, February 10th. The company reported $0.31 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.24 by $0.07. GCM Grosvenor had a net margin of 8.14% and a return on equity of 2,505.59%. The firm had revenue of $177.10 million for the quarter, compared to the consensus estimate of $160.20 million. As a group, research analysts forecast that GCM Grosvenor will post 0.64 EPS for the current year.
GCM Grosvenor Announces Dividend
The company also recently declared a quarterly dividend, which will be paid on Monday, March 16th. Shareholders of record on Monday, March 2nd will be issued a $0.12 dividend. This represents a $0.48 annualized dividend and a yield of 4.6%. The ex-dividend date of this dividend is Monday, March 2nd. GCM Grosvenor’s dividend payout ratio (DPR) is presently 129.73%.
About GCM Grosvenor
GCM Grosvenor is a global alternative asset management firm that specializes in customized investment solutions across a range of private markets and hedge fund strategies. The firm partners with institutional clients—including pension funds, endowments, insurers and sovereign wealth funds—to design and implement portfolios that span private equity, infrastructure, real estate, credit and multi‐strategy hedge fund products. Through its multi‐manager platforms and direct co‐investment vehicles, GCM Grosvenor provides diversified access to opportunities that can enhance returns and manage risk in client portfolios.
Founded in 1971 as Grosvenor Capital Management, the firm has built a track record of sourcing, structuring and monitoring alternative investments on behalf of its clients.