Wall Street brokerages forecast that GCM Grosvenor Inc. (NASDAQ:GCMG) will post $102.76 million in sales for the current quarter, Zacks Investment Research reports. Three analysts have provided estimates for GCM Grosvenor’s earnings, with the highest sales estimate coming in at $111.50 million and the lowest estimate coming in at $87.60 million. The business is expected to announce its next quarterly earnings results on Tuesday, November 9th.
On average, analysts expect that GCM Grosvenor will report full-year sales of $435.21 million for the current financial year, with estimates ranging from $346.40 million to $488.10 million. For the next financial year, analysts anticipate that the business will report sales of $478.11 million, with estimates ranging from $394.50 million to $522.50 million. Zacks Investment Research’s sales averages are an average based on a survey of research analysts that that provide coverage for GCM Grosvenor.
GCM Grosvenor (NASDAQ:GCMG) last announced its earnings results on Tuesday, August 10th. The company reported $0.10 earnings per share for the quarter, meeting the consensus estimate of $0.10. The business had revenue of $119.70 million for the quarter, compared to the consensus estimate of $102.96 million.
Institutional investors have recently bought and sold shares of the company. Royce & Associates LP boosted its holdings in shares of GCM Grosvenor by 20.7% in the 1st quarter. Royce & Associates LP now owns 5,060,921 shares of the company’s stock worth $60,225,000 after acquiring an additional 869,286 shares in the last quarter. Massachusetts Financial Services Co. MA raised its position in shares of GCM Grosvenor by 10.0% during the 2nd quarter. Massachusetts Financial Services Co. MA now owns 3,213,360 shares of the company’s stock valued at $33,483,000 after acquiring an additional 292,021 shares during the last quarter. BlackRock Inc. raised its position in shares of GCM Grosvenor by 973.2% during the 2nd quarter. BlackRock Inc. now owns 2,104,183 shares of the company’s stock valued at $21,925,000 after acquiring an additional 1,908,108 shares during the last quarter. Millennium Management LLC raised its position in shares of GCM Grosvenor by 238.0% during the 1st quarter. Millennium Management LLC now owns 1,889,996 shares of the company’s stock valued at $22,491,000 after acquiring an additional 1,330,857 shares during the last quarter. Finally, Schonfeld Strategic Advisors LLC increased its position in shares of GCM Grosvenor by 796.8% in the 2nd quarter. Schonfeld Strategic Advisors LLC now owns 1,540,670 shares of the company’s stock valued at $16,054,000 after buying an additional 1,368,876 shares in the last quarter. Institutional investors and hedge funds own 21.50% of the company’s stock.
Shares of GCMG stock traded up $0.05 during mid-day trading on Friday, hitting $11.63. 5,106 shares of the stock traded hands, compared to its average volume of 608,874. GCM Grosvenor has a twelve month low of $9.00 and a twelve month high of $15.36. The firm has a market cap of $2.17 billion, a price-to-earnings ratio of 23.63 and a beta of 0.06. The company’s 50-day simple moving average is $10.74 and its 200-day simple moving average is $11.55.
The business also recently declared a quarterly dividend, which will be paid on Wednesday, September 15th. Shareholders of record on Wednesday, September 1st will be given a $0.09 dividend. The ex-dividend date is Tuesday, August 31st. This represents a $0.36 dividend on an annualized basis and a dividend yield of 3.10%. This is a boost from GCM Grosvenor’s previous quarterly dividend of $0.08. GCM Grosvenor’s payout ratio is currently 73.47%.
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.
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