Grosvenor Capital Management, L.P. (NASDAQ:GCMG) to Issue $0.10 Quarterly Dividend

Grosvenor Capital Management, L.P. (NASDAQ:GCMG – Get Rating) declared a quarterly dividend on Wednesday, May 11th, Wall Street Journal reports. Stockholders of record on Wednesday, June 1st will be paid a dividend of 0.10 per share on Wednesday, June 15th. This represents a $0.40 dividend on an annualized basis and a dividend yield of 4.74%. The ex-dividend date of this dividend is Tuesday, May 31st.

Shares of NASDAQ GCMG opened at $8.43 on Friday. The firm has a market cap of $1.59 billion, a price-to-earnings ratio of 22.18 and a beta of 0.19. The business’s 50-day simple moving average is $8.94 and its 200-day simple moving average is $9.81. Grosvenor Capital Management has a 52 week low of $7.78 and a 52 week high of $12.38.

Grosvenor Capital Management (NASDAQ:GCMG – Get Rating) last issued its quarterly earnings data on Tuesday, May 10th. The company reported $0.18 EPS for the quarter, beating analysts’ consensus estimates of $0.13 by $0.05. The business had revenue of $105.13 million for the quarter, compared to analyst estimates of $121.31 million. Grosvenor Capital Management had a negative return on equity of 183.85% and a net margin of 4.43%. As a group, analysts predict that Grosvenor Capital Management will post 0.56 earnings per share for the current year.

Several hedge funds have recently made changes to their positions in the business. BlackRock Inc. lifted its position in shares of Grosvenor Capital Management by 6.0% in the 4th quarter. BlackRock Inc. now owns 2,666,750 shares of the company’s stock worth $28,001,000 after acquiring an additional 151,471 shares during the period. Bank of New York Mellon Corp lifted its position in shares of Grosvenor Capital Management by 3.3% in the 3rd quarter. Bank of New York Mellon Corp now owns 1,081,845 shares of the company’s stock worth $12,462,000 after acquiring an additional 34,659 shares during the period. Geode Capital Management LLC lifted its position in shares of Grosvenor Capital Management by 1.2% in the 4th quarter. Geode Capital Management LLC now owns 702,155 shares of the company’s stock worth $7,372,000 after acquiring an additional 8,190 shares during the period. State Street Corp lifted its position in shares of Grosvenor Capital Management by 16.2% in the 4th quarter. State Street Corp now owns 663,673 shares of the company’s stock worth $6,969,000 after acquiring an additional 92,520 shares during the period. Finally, Marshall Wace LLP lifted its position in shares of Grosvenor Capital Management by 111.7% in the 4th quarter. Marshall Wace LLP now owns 515,037 shares of the company’s stock worth $5,407,000 after acquiring an additional 271,769 shares during the period. Institutional investors own 21.55% of the company’s stock.

A number of research firms have issued reports on GCMG. Zacks Investment Research lowered Grosvenor Capital Management from a “buy” rating to a “hold” rating in a report on Tuesday, April 19th. William Blair reaffirmed an “outperform” rating on shares of Grosvenor Capital Management in a report on Tuesday, May 10th. Finally, Oppenheimer lowered their target price on Grosvenor Capital Management from $12.00 to $11.00 in a report on Wednesday, April 13th.

About Grosvenor Capital Management (Get Rating)

Grosvenor Capital Management, L.P. 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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