Grosvenor Capital Management (NASDAQ:GCMG) Sees Strong Trading Volume

Grosvenor Capital Management, L.P. (NASDAQ:GCMG) saw strong trading volume on Thursday . 376,083 shares were traded during trading, an increase of 109% from the previous session’s volume of 180,200 shares.The stock last traded at $8.44 and had previously closed at $8.59.

Analyst Ratings Changes

A number of analysts have recently weighed in on the company. Oppenheimer cut their price objective on Grosvenor Capital Management from $12.00 to $11.00 and set an “outperform” rating on the stock in a research report on Monday, October 9th. Piper Sandler boosted their target price on shares of Grosvenor Capital Management from $9.00 to $10.00 and gave the stock an “overweight” rating in a research note on Thursday, August 10th.

Grosvenor Capital Management Price Performance

The company has a market cap of $1.58 billion, a price-to-earnings ratio of -35.13 and a beta of 0.50. The firm’s 50 day simple moving average is $7.99 and its 200-day simple moving average is $7.68.

Grosvenor Capital Management Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, December 15th. Shareholders of record on Friday, December 1st will be paid a $0.11 dividend. The ex-dividend date of this dividend is Thursday, November 30th. This represents a $0.44 annualized dividend and a yield of 5.22%. Grosvenor Capital Management’s dividend payout ratio is presently -183.33%.

Insider Buying and Selling at Grosvenor Capital Management

In other news, insider Sandra Hurse sold 13,921 shares of the company’s stock in a transaction dated Monday, September 11th. The shares were sold at an average price of $7.81, for a total value of $108,723.01. Following the completion of the sale, the insider now directly owns 56,643 shares of the company’s stock, valued at $442,381.83. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In other news, insider Sandra Hurse sold 13,921 shares of the company’s stock in a transaction dated Monday, September 11th. The shares were sold at an average price of $7.81, for a total value of $108,723.01. Following the completion of the sale, the insider now directly owns 56,643 shares of the company’s stock, valued at $442,381.83. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, insider Grosvenor Capital Management, bought 6,327 shares of Grosvenor Capital Management stock in a transaction dated Tuesday, September 19th. The stock was acquired at an average cost of $30.00 per share, with a total value of $189,810.00. Following the completion of the acquisition, the insider now directly owns 6,327 shares of the company’s stock, valued at approximately $189,810. The disclosure for this purchase can be found here. Insiders sold 55,102 shares of company stock worth $430,859 over the last 90 days. Corporate insiders own 77.70% of the company’s stock.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the company. SG Americas Securities LLC purchased a new position in Grosvenor Capital Management in the first quarter valued at about $134,000. Barclays PLC grew its position in shares of Grosvenor Capital Management by 13.1% in the first quarter. Barclays PLC now owns 83,901 shares of the company’s stock valued at $656,000 after purchasing an additional 9,749 shares during the last quarter. Russell Investments Group Ltd. grew its position in shares of Grosvenor Capital Management by 15.5% in the first quarter. Russell Investments Group Ltd. now owns 10,030 shares of the company’s stock valued at $78,000 after purchasing an additional 1,346 shares during the last quarter. Citigroup Inc. grew its position in shares of Grosvenor Capital Management by 1,563.1% in the first quarter. Citigroup Inc. now owns 4,956 shares of the company’s stock valued at $39,000 after purchasing an additional 4,658 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. boosted its position in Grosvenor Capital Management by 1.9% during the first quarter. Charles Schwab Investment Management Inc. now owns 114,176 shares of the company’s stock worth $892,000 after acquiring an additional 2,127 shares during the last quarter. 21.60% of the stock is owned by hedge funds and other institutional investors.

Grosvenor Capital Management Company Profile

Grosvenor Capital Management, L.P. was founded in 1971 and is based in Chicago, Illinois.