Gold bars to be exempt from tariffs, White House clarifies
In a remarkable display of resilience, GCMG stock soared to a 52-week high, reaching a price level of $13.67. The company, with a market capitalization of $613 million, has shown impressive momentum, supported by solid revenue growth of 8.2% over the last twelve months. This peak reflects a significant turnaround from previous market performances, as investors rally behind the company’s promising outlook. The ascent to this new high comes amidst a broader context of growth for the company, with CF Finance Acquisition reporting an impressive 1-year change of 56.96%. According to InvestingPro, analysts have set price targets ranging from $12.50 to $19.00, with the stock currently trading slightly below its Fair Value. This surge in value underscores the positive sentiment surrounding GCMG’s prospects and the robust confidence investors place in its future trajectory. [Get access to 6 more exclusive InvestingPro Tips and comprehensive analysis for GCMG through the Pro Research Report.]
In other recent news, GCM Grosvenor has demonstrated substantial financial growth, with noteworthy increases in fee-related earnings and adjusted net income. In the third quarter of 2024, the asset management firm’s fee-related earnings rose by 18% year-to-date, while adjusted net income climbed by 24% compared to the previous year. Additionally, records were set in assets under management (AUM) at $80 billion, with fee-paying AUM also hitting a record at $64 billion.
Financial firm Piper Sandler has upgraded its rating on GCM Grosvenor from Neutral to Overweight, raising the price target for the company’s shares to $14.00, up from the previous $12.50. This adjustment reflects a more optimistic outlook on the firm’s financial prospects, citing potential positive developments in the near future.
Piper Sandler anticipates that GCM Grosvenor will experience a boost in fundraising efforts and growth in direct-oriented investments, and expects a rise in deal activity to drive the company’s carried interest and performance revenues. The firm also projects an increase of 9% to 11% in GCM Grosvenor’s private markets management fee growth for 2024.
GCM Grosvenor has also reported that its management aims to double fee-related earnings from 2023 to 2028 and anticipates exceeding $2 billion in fundraising in the second half of 2024. These recent developments underline GCM Grosvenor’s robust financial performance and its focus on growth through private market strategies.
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