Goldman Sachs Group Inc. reduced its stake in shares of GCM Grosvenor Inc. (NASDAQ:GCMG – Free Report) by 9.5% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 334,642 shares of the company’s stock after selling 35,317 shares during the quarter. Goldman Sachs Group Inc.’s holdings in GCM Grosvenor were worth $4,427,000 at the end of the most recent quarter.
A number of other large investors have also recently made changes to their positions in the stock. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its stake in shares of GCM Grosvenor by 4.4% during the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 24,242 shares of the company’s stock valued at $297,000 after purchasing an additional 1,023 shares during the period. EntryPoint Capital LLC lifted its stake in GCM Grosvenor by 10.2% in the first quarter. EntryPoint Capital LLC now owns 15,549 shares of the company’s stock worth $206,000 after acquiring an additional 1,438 shares during the period. Charles Schwab Investment Management Inc. lifted its stake in GCM Grosvenor by 1.8% in the first quarter. Charles Schwab Investment Management Inc. now owns 125,388 shares of the company’s stock worth $1,659,000 after acquiring an additional 2,276 shares during the period. Invesco Ltd. lifted its stake in GCM Grosvenor by 4.2% in the first quarter. Invesco Ltd. now owns 63,835 shares of the company’s stock worth $845,000 after acquiring an additional 2,573 shares during the period. Finally, Rhumbline Advisers lifted its stake in GCM Grosvenor by 5.0% in the first quarter. Rhumbline Advisers now owns 61,392 shares of the company’s stock worth $812,000 after acquiring an additional 2,930 shares during the period. 99.95% of the stock is owned by hedge funds and other institutional investors.
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Insider Buying and Selling
In other GCM Grosvenor news, insider Kathleen Patricia Sullivan sold 6,000 shares of the company’s stock in a transaction that occurred on Tuesday, August 12th. The stock was sold at an average price of $13.02, for a total value of $78,120.00. Following the sale, the insider owned 60,195 shares in the company, valued at approximately $783,738.90. This represents a 9.06% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Corporate insiders own 76.40% of the company’s stock.
Analysts Set New Price Targets
A number of research firms recently weighed in on GCMG. Oppenheimer reaffirmed an “outperform” rating on shares of GCM Grosvenor in a research note on Friday, August 8th. Piper Sandler increased their price target on shares of GCM Grosvenor from $14.50 to $15.00 and gave the company an “overweight” rating in a research report on Friday, August 8th. Two investment analysts have rated the stock with a Buy rating and two have given a Hold rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $15.13.
View Our Latest Stock Analysis on GCM Grosvenor
GCM Grosvenor Trading Down 0.5%
GCM Grosvenor stock opened at $12.88 on Thursday. GCM Grosvenor Inc. has a 12 month low of $10.74 and a 12 month high of $14.48. The stock’s 50 day simple moving average is $12.47 and its two-hundred day simple moving average is $12.48. The firm has a market cap of $2.50 billion, a PE ratio of 85.87 and a beta of 0.75.
GCM Grosvenor Dividend Announcement
The business also recently disclosed a quarterly dividend, which was paid on Tuesday, September 16th. Shareholders of record on Tuesday, September 2nd were given a $0.11 dividend. This represents a $0.44 annualized dividend and a yield of 3.4%. The ex-dividend date was Tuesday, September 2nd. GCM Grosvenor’s dividend payout ratio is currently 293.33%.
GCM Grosvenor Company Profile
(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.
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