Royce & Associates LP Reduces Position in Greenhill & Co., Inc. (GHL)

Royce & Associates LP decreased its holdings in Greenhill & Co., Inc. (NYSE:GHL) by 98.7% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 13,285 shares of the financial services provider’s stock after selling 979,346 shares during the quarter. Royce & Associates LP owned 0.05% of Greenhill & Co., Inc. worth $221,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of the stock. EJF Capital LLC purchased a new position in shares of Greenhill & Co., Inc. in the third quarter worth approximately $2,917,000. B. Riley Financial Inc. purchased a new position in shares of Greenhill & Co., Inc. in the third quarter worth approximately $260,000. Sheaff Brock Investment Advisors LLC purchased a new position in shares of Greenhill & Co., Inc. in the third quarter worth approximately $183,000. Hotchkis & Wiley Capital Management LLC purchased a new position in shares of Greenhill & Co., Inc. in the third quarter worth approximately $185,000. Finally, Mint Tower Capital Management B.V. purchased a new position in shares of Greenhill & Co., Inc. in the third quarter worth approximately $166,000. 96.88% of the stock is currently owned by institutional investors.

Greenhill & Co., Inc. (GHL) opened at $19.95 on Friday. The company has a current ratio of 3.83, a quick ratio of 3.83 and a debt-to-equity ratio of 0.32. Greenhill & Co., Inc. has a 1-year low of $13.80 and a 1-year high of $32.45. The firm has a market cap of $523.95, a P/E ratio of 27.71 and a beta of 1.31.

Greenhill & Co., Inc. (NYSE:GHL) last issued its quarterly earnings results on Wednesday, October 18th. The financial services provider reported ($0.18) earnings per share for the quarter, missing the consensus estimate of $0.07 by ($0.25). Greenhill & Co., Inc. had a net margin of 8.49% and a return on equity of 8.88%. The firm had revenue of $48.09 million for the quarter, compared to analysts’ expectations of $38.33 million. During the same period in the prior year, the firm earned $0.41 EPS. Greenhill & Co., Inc.’s revenue for the quarter was down 37.2% compared to the same quarter last year. equities research analysts forecast that Greenhill & Co., Inc. will post 0.05 EPS for the current fiscal year.

Greenhill & Co., Inc. declared that its Board of Directors has authorized a stock repurchase 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 reacquire up to 55.3% of its shares through open market purchases. Shares buyback plans are typically a sign that the company’s board of directors believes its shares are undervalued.

The company also recently declared a quarterly dividend, which was paid on Wednesday, December 20th. Shareholders of record on Wednesday, December 6th were issued a dividend of $0.05 per share. This represents a $0.20 annualized dividend and a yield of 1.00%. The ex-dividend date was Tuesday, December 5th. Greenhill & Co., Inc.’s dividend payout ratio is currently 27.78%.

GHL has been the topic of a number of research reports. Bank of America dropped their price objective on shares of Greenhill & Co., Inc. from $13.00 to $12.00 and set an “underperform” rating on the stock in a report on Thursday, October 19th. Keefe, Bruyette & Woods reaffirmed a “hold” rating and set a $17.00 price target on shares of Greenhill & Co., Inc. in a report on Thursday, October 19th. Zacks Investment Research raised shares of Greenhill & Co., Inc. from a “sell” rating to a “hold” rating in a report on Tuesday, November 21st. Sandler O’Neill downgraded shares of Greenhill & Co., Inc. from a “buy” rating to a “hold” rating and lowered their price target for the company from $25.00 to $18.00 in a report on Tuesday, October 10th. Finally, ValuEngine downgraded shares of Greenhill & Co., Inc. from a “buy” rating to a “hold” rating in a report on Friday, September 1st. Five analysts have rated the stock with a sell rating, four have issued a hold rating and one has given a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and an average price target of $17.44.

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

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