Rutabaga Capital Management LLC MA grew its position in Greenhill & Co., Inc. (NYSE:GHL) by 26.2% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 815,463 shares of the financial services provider’s stock after buying an additional 169,532 shares during the quarter. Greenhill & Co. accounts for 3.1% of Rutabaga Capital Management LLC MA’s holdings, making the stock its 13th largest holding. Rutabaga Capital Management LLC MA owned about 2.75% of Greenhill & Co. worth $16,391,000 at the end of the most recent quarter.
Several other hedge funds have also recently modified their holdings of GHL. State of Alaska Department of Revenue lifted its holdings in shares of Greenhill & Co. by 44.5% in the 2nd quarter. State of Alaska Department of Revenue now owns 7,615 shares of the financial services provider’s stock worth $152,000 after buying an additional 2,345 shares during the period. Mason Street Advisors LLC lifted its holdings in shares of Greenhill & Co. by 8.2% in the 1st quarter. Mason Street Advisors LLC now owns 6,432 shares of the financial services provider’s stock worth $188,000 after buying an additional 489 shares during the period. Oppenheimer Asset Management Inc. lifted its holdings in shares of Greenhill & Co. by 1.1% in the 2nd quarter. Oppenheimer Asset Management Inc. now owns 9,499 shares of the financial services provider’s stock worth $191,000 after buying an additional 102 shares during the period. Globeflex Capital L P purchased a new stake in shares of Greenhill & Co. in the 1st quarter worth $201,000. Finally, People s United Financial Inc. lifted its holdings in shares of Greenhill & Co. by 0.8% in the 2nd quarter. People s United Financial Inc. now owns 10,432 shares of the financial services provider’s stock worth $210,000 after buying an additional 83 shares during the period. Institutional investors and hedge funds own 97.12% of the company’s stock.
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Shares of Greenhill & Co., Inc. (NYSE:GHL) traded up 0.442% during midday trading on Friday, hitting $17.025. The company had a trading volume of 173,649 shares. Greenhill & Co., Inc. has a 12 month low of $13.80 and a 12 month high of $32.45. The company has a 50-day moving average of $15.36 and a 200 day moving average of $20.26. The firm has a market capitalization of $504.59 million, a PE ratio of 13.016 and a beta of 1.27.
Greenhill & Co. (NYSE:GHL) last released its earnings results on Thursday, July 27th. The financial services provider reported $0.20 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.30 by ($0.10). The company had revenue of $67.27 million during the quarter, compared to analysts’ expectations of $72.25 million. Greenhill & Co. had a net margin of 13.98% and a return on equity of 15.68%. The company’s revenue for the quarter was down 25.7% on a year-over-year basis. During the same quarter last year, the business posted $0.62 earnings per share. On average, analysts expect that Greenhill & Co., Inc. will post $0.16 EPS for the current fiscal year.
The business also recently announced a quarterly dividend, which was paid on Wednesday, September 27th. Investors of record on Wednesday, September 13th were issued a $0.45 dividend. The ex-dividend date was Tuesday, September 12th. This represents a $1.80 dividend on an annualized basis and a yield of 10.62%. Greenhill & Co.’s dividend payout ratio (DPR) is presently 135.34%.
Greenhill & Co. declared that its board has initiated a share buyback plan on Monday, September 25th that authorizes the company to repurchase $235.00 million in shares. This repurchase authorization authorizes the financial services provider to repurchase up to 55.3% of its stock through open market purchases. Stock repurchase plans are typically an indication that the company’s management believes its stock is undervalued.
Several equities research analysts have weighed in on GHL shares. Sandler O’Neill cut Greenhill & Co. from a “buy” rating to a “hold” rating and lowered their target price for the stock from $25.00 to $18.00 in a report on Tuesday. UBS AG reiterated a “sell” rating and issued a $9.00 target price (down from $17.00) on shares of Greenhill & Co. in a report on Monday, August 21st. Buckingham Research upped their target price on Greenhill & Co. from $15.00 to $18.00 and gave the stock a “neutral” rating in a report on Tuesday, September 26th. TheStreet cut Greenhill & Co. from a “b-” rating to a “c+” rating in a report on Wednesday, June 21st. Finally, ValuEngine upgraded Greenhill & Co. from a “buy” rating to a “strong-buy” rating in a report on Thursday, July 6th. Six research analysts have rated the stock with a sell rating and four have given a hold rating to the company’s stock. Greenhill & Co. currently has a consensus rating of “Sell” and a consensus target price of $18.33.
Greenhill & Co. Profile
Greenhill & Co, Inc is an investment bank. The Company provides financial and strategic advice on domestic and cross-border mergers and acquisitions, divestitures, restructurings, financings, capital raising and other transactions to a diverse client base, including corporations, partnerships, institutions and governments globally.
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