Credit Suisse Maintains GCM Grosvenor Inc - (GCMG) Outperform Recommendation

Fintel reports that on May 12, 2023, Credit Suisse maintained coverage of GCM Grosvenor Inc - (NASDAQ:GCMG) with a Outperform recommendation.

Analyst Price Forecast Suggests 42.66% Upside

As of May 11, 2023, the average one-year price target for GCM Grosvenor Inc - is 10.20. The forecasts range from a low of 8.58 to a high of $12.60. The average price target represents an increase of 42.66% from its latest reported closing price of 7.15.

See our leaderboard of companies with the largest price target upside.

The projected annual revenue for GCM Grosvenor Inc - is 511MM, an increase of 16.25%. The projected annual non-GAAP EPS is 0.66.

GCM Grosvenor Inc - Declares $0.11 Dividend

On May 10, 2023 the company declared a regular quarterly dividend of $0.11 per share ($0.44 annualized). Shareholders of record as of June 1, 2023 will receive the payment on June 15, 2023. Previously, the company paid $0.11 per share.

At the current share price of $7.15 / share, the stock's dividend yield is 6.15%.

Looking back five years and taking a sample every week, the average dividend yield has been 4.03%, the lowest has been 1.79%, and the highest has been 5.87%. The standard deviation of yields is 1.16 (n=115).

The current dividend yield is 1.84 standard deviations above the historical average.

Additionally, the company's dividend payout ratio is 1.33. The payout ratio tells us how much of a company's income is paid out in dividends. A payout ratio of one (1.0) means 100% of the company's income is paid in a dividend. A payout ratio greater than one means the company is dipping into savings in order to maintain its dividend - not a healthy situation. Companies with few growth prospects are expected to pay out most of their income in dividends, which typically means a payout ratio between 0.5 and 1.0. Companies with good growth prospects are expected to retain some earnings in order to invest in those growth prospects, which translates to a payout ratio of zero to 0.5.

The company has not increased its dividend in the last three years.

What is the Fund Sentiment?

There are 250 funds or institutions reporting positions in GCM Grosvenor Inc -. This is an increase of 18 owner(s) or 7.76% in the last quarter. Average portfolio weight of all funds dedicated to GCMG is 0.09%, a decrease of 33.98%. Total shares owned by institutions decreased in the last three months by 9.60% to 56,000K shares. The put/call ratio of GCMG is 0.22, indicating a bullish outlook.

What are Other Shareholders Doing?

Adage Capital Partners Gp, L.l.c. holds 4,943K shares representing 11.79% ownership of the company. No change in the last quarter.

Ariel Investments holds 3,922K shares representing 9.35% ownership of the company. In it's prior filing, the firm reported owning 3,904K shares, representing an increase of 0.46%. The firm decreased its portfolio allocation in GCMG by 4.37% over the last quarter.

Schonfeld Strategic Advisors holds 3,551K shares representing 8.47% ownership of the company. In it's prior filing, the firm reported owning 2,001K shares, representing an increase of 43.66%. The firm increased its portfolio allocation in GCMG by 11.49% over the last quarter.

Massachusetts Financial Services holds 3,291K shares representing 7.85% ownership of the company. In it's prior filing, the firm reported owning 3,294K shares, representing a decrease of 0.11%. The firm decreased its portfolio allocation in GCMG by 84.59% over the last quarter.

LACAX - Columbia Acorn Fund holds 3,262K shares representing 7.78% ownership of the company. No change in the last quarter.

GCM Grosvenor Background Information
(This description is provided by the company.)

CM Grosvenor is a global alternative asset management solutions provider with approximately $59 billion in assets under management across private equity, infrastructure, real estate, credit, and absolute return investment strategies. The firm is in its 50th year of operation and is dedicated to delivering value for clients in the growing alternative investment asset classes. GCM Grosvenor’s experienced team of approximately 500 professionals serves a global client base of institutional and high net worth investors. The firm is headquartered in Chicago, with offices in New York, Los Angeles, London, Tokyo, Hong Kong, and Seoul.

This story originally appeared on Fintel.

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.