Harbor Advisors LLC Purchases New Stake in Greenhill & Co., Inc. (GHL)

Harbor Advisors LLC purchased a new stake in Greenhill & Co., Inc. (NYSE:GHL) during the third quarter, according to the company in its most recent disclosure with the SEC. The firm purchased 17,200 shares of the financial services provider’s stock, valued at approximately $286,000. Harbor Advisors LLC owned approximately 0.06% of Greenhill & Co. at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of GHL. UBS Asset Management Americas Inc. acquired a new stake in Greenhill & Co. in the 1st quarter valued at about $211,000. Arizona State Retirement System raised its position in shares of Greenhill & Co. by 2.1% during the 1st quarter. Arizona State Retirement System now owns 14,342 shares of the financial services provider’s stock worth $420,000 after acquiring an additional 300 shares in the last quarter. OppenheimerFunds Inc. acquired a new stake in shares of Greenhill & Co. during the 1st quarter worth about $254,000. Principal Financial Group Inc. raised its position in shares of Greenhill & Co. by 4.8% during the 1st quarter. Principal Financial Group Inc. now owns 209,057 shares of the financial services provider’s stock worth $6,125,000 after acquiring an additional 9,607 shares in the last quarter. Finally, FMR LLC raised its position in shares of Greenhill & Co. by 14.4% during the 1st quarter. FMR LLC now owns 719,045 shares of the financial services provider’s stock worth $21,068,000 after acquiring an additional 90,600 shares in the last quarter. 96.66% of the stock is currently owned by institutional investors.

Greenhill & Co., Inc. (GHL) traded down 1.163% on Monday, reaching $19.125. The company had a trading volume of 483,415 shares. The firm has a market capitalization of $566.83 million, a PE ratio of 14.622 and a beta of 1.27. The stock has a 50 day moving average of $16.19 and a 200 day moving average of $19.44. Greenhill & Co., Inc. has a 12 month low of $13.80 and a 12 month high of $32.45.

Greenhill & Co. (NYSE:GHL) last announced its quarterly earnings data on Wednesday, October 18th. The financial services provider reported ($0.18) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.07 by ($0.25). Greenhill & Co. had a net margin of 8.49% and a return on equity of 8.96%. The firm had revenue of $48.09 million for the quarter, compared to analyst estimates of $38.33 million. During the same quarter in the previous year, the company earned $0.41 EPS. The company’s quarterly revenue was down 37.2% compared to the same quarter last year. On average, analysts anticipate that Greenhill & Co., Inc. will post $0.07 EPS for the current year.

Greenhill & Co. announced that its Board of Directors has initiated a stock buyback plan on Monday, September 25th that permits the company to buyback $235.00 million in outstanding shares. This buyback authorization permits the financial services provider to buy up to 55.3% of its stock through open market purchases. Stock buyback plans are typically a sign that the company’s leadership believes its stock is undervalued.

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 20th. Shareholders of record on Wednesday, December 6th will be paid a dividend of $0.05 per share. This represents a $0.20 annualized dividend and a yield of 1.03%. The ex-dividend date of this dividend is Tuesday, December 5th. Greenhill & Co.’s payout ratio is currently 243.24%.

Several equities research analysts have recently weighed in on GHL shares. Sandler O’Neill lowered Greenhill & Co. from a “buy” rating to a “hold” rating and cut their target price for the stock from $25.00 to $18.00 in a research report on Tuesday, October 10th. UBS AG reissued a “sell” rating and set a $9.00 target price (down previously from $17.00) on shares of Greenhill & Co. in a research report on Monday, August 21st. Buckingham Research raised their target price on Greenhill & Co. from $15.00 to $18.00 and gave the stock a “neutral” rating in a research report on Tuesday, September 26th. Keefe, Bruyette & Woods reissued a “hold” rating and set a $17.00 target price on shares of Greenhill & Co. in a research report on Thursday, October 19th. Finally, ValuEngine raised Greenhill & Co. from a “buy” rating to a “strong-buy” rating in a research report on Thursday, July 6th. Six research analysts have rated the stock with a sell rating and four have assigned a hold rating to the company. The stock has a consensus rating of “Sell” and a consensus price target of $16.67.

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Greenhill & Co. Company 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.

Institutional Ownership by Quarter for Greenhill & Co. (NYSE:GHL)

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