Key Points
- CFO Pamela Bentley sold 40,000 GCM Grosvenor shares at an average price of $12.56, for total proceeds of $502,400. The Rule 10b5-1 transaction reduced her direct ownership by 62.11% to 24,397 shares.
- GCM Grosvenor reported quarterly EPS of $0.19, exceeding estimates of $0.18, while revenue reached $134.34 million versus expectations of $131.21 million.
- The company pays a quarterly dividend of $0.12, equivalent to $0.48 annually and a 3.8% yield. Analysts maintain a “Moderate Buy” consensus with an average price target of $15.00.
GCM Grosvenor Inc. (NASDAQ:GCMG - Get Free Report) CFO Pamela Bentley sold 10,000 shares of the business's stock in a transaction on Wednesday, September 16th. The stock was sold at an average price of $12.68, for a total transaction of $126,800.00. Following the transaction, the chief financial officer owned 14,397 shares of the company's stock, valued at approximately $182,553.96. The trade was a 40.99% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.
GCM Grosvenor Stock Down 0.6%
GCM Grosvenor stock opened at $12.68 on Thursday. GCM Grosvenor Inc. has a 1-year low of $9.30 and a 1-year high of $14.87. The company has a debt-to-equity ratio of 2.96, a current ratio of 1.89 and a quick ratio of 1.89. The stock has a market cap of $2.57 billion, a PE ratio of 24.39 and a beta of 0.83. The stock's fifty day moving average is $13.23 and its two-hundred day moving average is $11.77.
GCM Grosvenor (NASDAQ:GCMG - Get Free Report) last released its quarterly earnings data on Monday, August 10th. The company reported $0.19 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.18 by $0.01. GCM Grosvenor had a return on equity of 142.74% and a net margin of 7.79%.The business had revenue of $134.34 million during the quarter, compared to analysts' expectations of $131.21 million. On average, sell-side analysts expect that GCM Grosvenor Inc. will post 0.7 EPS for the current fiscal year.
GCM Grosvenor Announces Dividend
The firm also recently announced a quarterly dividend, which was paid on Tuesday, September 15th. Investors of record on Tuesday, September 1st were paid a dividend of $0.12 per share. The ex-dividend date was Tuesday, September 1st. This represents a $0.48 annualized dividend and a yield of 3.8%. GCM Grosvenor's payout ratio is presently 92.31%.
Hedge Funds Weigh In On GCM Grosvenor
A number of institutional investors have recently modified their holdings of the business. Integrated Wealth Concepts LLC acquired a new stake in shares of GCM Grosvenor in the 2nd quarter worth approximately $35,000. Levin Capital Strategies L.P. acquired a new position in GCM Grosvenor in the first quarter valued at $98,000. Entropy Technologies LP acquired a new stake in GCM Grosvenor in the 1st quarter worth about $127,000. Dearborn Partners LLC purchased a new stake in GCM Grosvenor in the 2nd quarter valued at about $168,000. Finally, Jefferies Financial Group Inc. acquired a new position in shares of GCM Grosvenor during the 4th quarter valued at about $194,000. 99.95% of the stock is owned by institutional investors and hedge funds.
Wall Street Analysts Forecast Growth
Several equities analysts have commented on the stock. Weiss Ratings upgraded shares of GCM Grosvenor from a "buy (b-)" rating to a "buy (b)" rating in a research note on Thursday, August 13th. JPMorgan Chase & Co. boosted their price objective on shares of GCM Grosvenor from $12.00 to $13.00 and gave the stock a "neutral" rating in a research report on Tuesday, August 11th. TD Cowen upped their target price on shares of GCM Grosvenor from $13.50 to $14.00 and gave the company a "buy" rating in a report on Tuesday, May 26th. Wall Street Zen raised shares of GCM Grosvenor from a "hold" rating to a "buy" rating in a research report on Saturday, August 29th. Finally, Piper Sandler lifted their price target on shares of GCM Grosvenor from $15.00 to $16.00 and gave the stock an "overweight" rating in a research note on Tuesday, August 11th. Four research analysts have rated the stock with a Buy rating and one has given a Hold rating to the company's stock. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $15.00.
Read Our Latest Analysis on GCMG
GCM Grosvenor Company Profile
(
Get Free Report)
GCM Grosvenor is a global alternative asset management firm that provides investment solutions across private equity, infrastructure, real estate and absolute return strategies. The company invests through a range of approaches, including primary fund investments, secondary transactions, direct investments and co-investments.
Founded in 1997, GCM Grosvenor serves institutional investors, including pension funds, endowments, foundations, sovereign wealth funds and insurance companies, as well as family offices and wealth management platforms.
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