GCM Grosvenor Inc. (NASDAQ:GCMG) – Analysts at Oppenheimer lowered their FY2021 earnings estimates for GCM Grosvenor in a report released on Wednesday, November 10th. Oppenheimer analyst C. Kotowski now expects that the company will earn $0.57 per share for the year, down from their prior forecast of $0.59. Oppenheimer currently has a “Buy” rating and a $14.00 target price on the stock. Oppenheimer also issued estimates for GCM Grosvenor’s Q4 2021 earnings at $0.24 EPS, Q1 2022 earnings at $0.15 EPS, Q2 2022 earnings at $0.15 EPS and Q4 2022 earnings at $0.26 EPS.
Separately, Zacks Investment Research cut shares of GCM Grosvenor from a “buy” rating to a “hold” rating in a research report on Wednesday, October 13th.
Shares of GCM Grosvenor stock opened at $12.10 on Friday. The company’s fifty day moving average is $11.48 and its two-hundred day moving average is $11.28. GCM Grosvenor has a 1 year low of $9.00 and a 1 year high of $15.36. GCM Grosvenor (NASDAQ:GCMG) last posted its earnings results on Tuesday, August 10th. The company reported $0.10 EPS for the quarter, meeting the Zacks’ consensus estimate of $0.10. The company had revenue of $119.70 million during the quarter, compared to analysts’ expectations of $102.96 million.
A number of institutional investors and hedge funds have recently added to or reduced their stakes in GCMG. Geode Capital Management LLC purchased a new stake in GCM Grosvenor during the first quarter worth approximately $4,137,000. Northern Trust Corp purchased a new stake in GCM Grosvenor during the first quarter worth approximately $732,000. Goldman Sachs Group Inc. purchased a new stake in GCM Grosvenor during the first quarter worth approximately $1,007,000. Citadel Advisors LLC purchased a new stake in GCM Grosvenor during the first quarter worth approximately $1,292,000. Finally, Cubist Systematic Strategies LLC grew its stake in GCM Grosvenor by 267.0% during the first quarter. Cubist Systematic Strategies LLC now owns 61,345 shares of the company’s stock worth $730,000 after buying an additional 44,630 shares during the period. Institutional investors own 22.03% of the company’s stock.
The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 15th. Shareholders of record on Wednesday, December 1st will be paid a dividend of $0.10 per share. This is an increase from GCM Grosvenor’s previous quarterly dividend of $0.09. This represents a $0.40 annualized dividend and a yield of 3.31%. The ex-dividend date of this dividend is Tuesday, November 30th.
About GCM Grosvenor
GCM Grosvenor, Inc provides global alternative asset management solutions. The firm invests on behalf of clients who seek allocations to alternative investments, such as private equity, infrastructure, real estate, credit, and absolute return strategies. It specializes in developing customized portfolios for clients who want an active role in the development of their alternatives programs and also offers multi-client portfolios for investors who desire a turn-key solution for accessing alternative investments.