Short-term stake in Grosvenor Capital Management, LP (NASDAQ:GCMG) increases 36.3%


Grosvenor Capital Management, LP (NASDAQ:GCMG – Get Rating) saw a sharp increase in short-term interest during the month of May. As of May 31, there was short interest totaling 2,590,000 shares, an increase of 36.3% from the May 15 total of 1,900,000 shares. Based on an average daily volume of 304,300 shares, the day-to-cover ratio is currently 8.5 days. Currently, 6.1% of the company’s shares are sold short.

Grosvenor Capital Management shares traded down $0.02 during Wednesday’s trading, hitting $6.88. 3,083 shares of the company were traded, against an average volume of 312,805. Grosvenor Capital Management has a 1-year low of $6.83 and a 1-year high of $12.38. The company has a 50-day moving average price of $8.40 and a 200-day moving average price of $9.48. The company has a market capitalization of $1.29 billion, a PE ratio of 18.16 and a beta of 0.19.

Grosvenor Capital Management (NASDAQ:GCMG – Get Rating) last released its results on Tuesday, May 10. The company reported earnings per share (EPS) of $0.18 for the quarter, beating consensus analyst estimates of $0.13 by $0.05. Grosvenor Capital Management posted a net margin of 4.43% and a negative return on equity of 183.85%. The company posted revenue of $105.13 million for the quarter, versus a consensus estimate of $121.31 million. As a group, equity research analysts expect Grosvenor Capital Management to post 0.56 earnings per share for the current year.

The company also recently announced a quarterly dividend, which will be paid on Wednesday, June 15. Investors of record on Wednesday, June 1 will receive a dividend of $0.10 per share. The ex-dividend date is Tuesday, May 31. This represents a dividend of $0.40 on an annualized basis and a dividend yield of 5.81%. Grosvenor Capital Management’s payout ratio is currently 105.27%.

A number of equity research analysts have recently commented on the stock. Oppenheimer cut his price target on Grosvenor Capital Management shares from $12.00 to $11.00 in a Wednesday, April 13 research note. William Blair reaffirmed an “outperform” rating on Grosvenor Capital Management shares in a Tuesday, May 10 research note.

Several institutional investors have recently increased or reduced their stake in the stock. The New York State Common Retirement Fund increased its stake in Grosvenor Capital Management by 24.4% during the first quarter. The New York State Common Retirement Fund now owns 31,808 shares of the company worth $309,000 after buying 6,248 more shares in the last quarter. Walleye Capital LLC increased its stake in Grosvenor Capital Management by 47.3% during the fourth quarter. Walleye Capital LLC now owns 16,271 shares of the company worth $171,000 after purchasing an additional 5,226 shares in the last quarter. BlackRock Inc. increased its stake in Grosvenor Capital Management by 6.0% during the fourth quarter. BlackRock Inc. now owns 2,666,750 shares of the company worth $28,001,000 after purchasing an additional 151,471 shares in the last quarter. Parametric Portfolio Associates LLC increased its stake in Grosvenor Capital Management by 32.8% during the fourth quarter. Parametric Portfolio Associates LLC now owns 19,100 shares of the company worth $201,000 after purchasing 4,716 additional shares in the last quarter. Finally, Susquehanna International Group LLP acquired a new position in Grosvenor Capital Management during the fourth quarter at a value of $235,000. Institutional investors hold 21.55% of the company’s shares.

About Grosvenor Capital Management (Get a rating)

Grosvenor Capital Management, LP is a global provider of alternative asset management solutions. The company 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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