Greenhill & Co., Inc. (NYSE:GHL) Sees Significant Decrease in Short Interest

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Greenhill & Co., Inc. (NYSE:GHL) saw a large decline in short interest in July. As of July 31st, there was short interest totalling 1,784,100 shares, a decline of 17.7% from the June 30th total of 2,169,000 shares. Based on an average trading volume of 294,400 shares, the days-to-cover ratio is presently 6.1 days. Approximately 11.0% of the company’s shares are sold short.

GHL has been the subject of a number of research analyst reports. Keefe, Bruyette & Woods downgraded Greenhill & Co., Inc. from a “market perform” rating to an “underperform” rating and lowered their price target for the company from $23.50 to $23.00 in a report on Tuesday, April 30th. Zacks Investment Research downgraded Greenhill & Co., Inc. from a “buy” rating to a “hold” rating in a report on Friday, July 19th. Buckingham Research lowered their price target on Greenhill & Co., Inc. from $29.00 to $18.00 and set a “neutral” rating for the company in a report on Thursday, July 11th. ValuEngine raised Greenhill & Co., Inc. from a “sell” rating to a “hold” rating in a report on Thursday, August 1st. Finally, TheStreet downgraded Greenhill & Co., Inc. from a “b-” rating to a “c-” rating in a report on Friday, May 31st. Two investment analysts have rated the stock with a sell rating and five have assigned a hold rating to the company. The stock presently has an average rating of “Hold” and a consensus price target of $21.67.

GHL traded down $0.09 on Thursday, reaching $14.33. The company’s stock had a trading volume of 530,316 shares, compared to its average volume of 310,327. The company has a quick ratio of 4.00, a current ratio of 4.00 and a debt-to-equity ratio of 17.56. Greenhill & Co., Inc. has a fifty-two week low of $12.65 and a fifty-two week high of $31.08. The business has a 50 day simple moving average of $14.48. The company has a market capitalization of $300.09 million, a P/E ratio of 8.90 and a beta of 0.85.

Greenhill & Co., Inc. (NYSE:GHL) last issued its quarterly earnings data on Wednesday, July 31st. The financial services provider reported ($0.53) earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.45 by ($0.98). Greenhill & Co., Inc. had a negative net margin of 2.03% and a negative return on equity of 8.98%. The firm had revenue of $56.10 million during the quarter, compared to analysts’ expectations of $64.26 million. During the same quarter in the prior year, the firm posted $0.38 EPS. Greenhill & Co., Inc.’s quarterly revenue was down 36.6% compared to the same quarter last year.

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 18th. Shareholders of record on Wednesday, September 4th will be paid a $0.05 dividend. This represents a $0.20 dividend on an annualized basis and a yield of 1.40%. The ex-dividend date of this dividend is Tuesday, September 3rd. Greenhill & Co., Inc.’s dividend payout ratio is currently 12.42%.

In other news, CEO Scott L. Bok bought 107,220 shares of the company’s stock in a transaction on Monday, August 5th. The stock was bought at an average cost of $14.30 per share, with a total value of $1,533,246.00. The acquisition was disclosed in a legal filing with the SEC, which is available through this link. Insiders own 20.80% of the company’s stock.

A number of hedge funds and other institutional investors have recently modified their holdings of the business. Bank of Montreal Can lifted its stake in Greenhill & Co., Inc. by 2.2% in the first quarter. Bank of Montreal Can now owns 20,521 shares of the financial services provider’s stock valued at $441,000 after buying an additional 439 shares during the last quarter. Texas Permanent School Fund lifted its stake in Greenhill & Co., Inc. by 4.7% in the first quarter. Texas Permanent School Fund now owns 11,942 shares of the financial services provider’s stock valued at $257,000 after buying an additional 535 shares during the last quarter. New York State Teachers Retirement System lifted its stake in Greenhill & Co., Inc. by 1.4% in the first quarter. New York State Teachers Retirement System now owns 54,859 shares of the financial services provider’s stock valued at $1,180,000 after buying an additional 773 shares during the last quarter. D. E. Shaw & Co. Inc. lifted its stake in Greenhill & Co., Inc. by 3.2% in the second quarter. D. E. Shaw & Co. Inc. now owns 32,023 shares of the financial services provider’s stock valued at $435,000 after buying an additional 1,000 shares during the last quarter. Finally, Quantamental Technologies LLC lifted its stake in Greenhill & Co., Inc. by 30.0% in the first quarter. Quantamental Technologies LLC now owns 5,632 shares of the financial services provider’s stock valued at $121,000 after buying an additional 1,300 shares during the last quarter. Institutional investors own 85.94% of the company’s stock.

Greenhill & Co., Inc. Company Profile

Greenhill & Co, Inc, an independent investment bank, provides financial and strategic advisory services to corporations, partnerships, institutions, and governments worldwide. The company offers advisory services to clients in relation to mergers, acquisitions, divestitures, spin-offs, and other strategic transactions, as well as various stages of a transaction's life cycle ranging from initial structuring and negotiation to final execution.

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