Adirondack Research & Management Inc. Boosts Holdings in Greenhill & Co., Inc. (NYSE:GHL)

Adirondack Research & Management Inc. boosted its position in Greenhill & Co., Inc. (NYSE:GHL) by 64.1% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 308,336 shares of the financial services provider’s stock after buying an additional 120,471 shares during the quarter. Greenhill & Co., Inc. makes up approximately 2.0% of Adirondack Research & Management Inc.’s portfolio, making the stock its 16th biggest position. Adirondack Research & Management Inc. owned about 1.04% of Greenhill & Co., Inc. worth $5,118,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently modified their holdings of GHL. UBS Asset Management Americas Inc. purchased a new stake in shares of Greenhill & Co., Inc. during the first quarter valued at approximately $211,000. State of Alaska Department of Revenue boosted its stake in shares of Greenhill & Co., Inc. by 44.5% during the second quarter. State of Alaska Department of Revenue now owns 7,615 shares of the financial services provider’s stock valued at $152,000 after purchasing an additional 2,345 shares during the period. OppenheimerFunds Inc. purchased a new stake in shares of Greenhill & Co., Inc. during the first quarter valued at approximately $254,000. Oppenheimer Asset Management Inc. boosted its stake in shares of Greenhill & Co., Inc. by 1.1% during the second quarter. Oppenheimer Asset Management Inc. now owns 9,499 shares of the financial services provider’s stock valued at $191,000 after purchasing an additional 102 shares during the period. Finally, People s United Financial Inc. boosted its stake in shares of Greenhill & Co., Inc. by 0.8% during the second quarter. People s United Financial Inc. now owns 10,432 shares of the financial services provider’s stock valued at $210,000 after purchasing an additional 83 shares during the period. 96.88% of the stock is owned by institutional investors and hedge funds.

A number of analysts have recently weighed in on the company. Bank of America dropped their price objective on Greenhill & Co., Inc. from $13.00 to $12.00 and set an “underperform” rating for the company in a research note on Thursday, October 19th. ValuEngine lowered Greenhill & Co., Inc. from a “buy” rating to a “hold” rating in a research note on Friday, September 1st. Nomura dropped their price objective on Greenhill & Co., Inc. from $16.00 to $14.00 and set a “reduce” rating for the company in a research note on Tuesday, September 26th. Keefe, Bruyette & Woods reissued a “hold” rating and set a $17.00 price objective on shares of Greenhill & Co., Inc. in a research note on Thursday, October 19th. Finally, Buckingham Research increased their price objective on Greenhill & Co., Inc. from $15.00 to $18.00 and gave the company a “neutral” rating in a research note on Tuesday, September 26th. Five analysts have rated the stock with a sell rating and five have assigned a hold rating to the company’s stock. Greenhill & Co., Inc. presently has an average rating of “Hold” and an average price target of $16.88.

Shares of Greenhill & Co., Inc. (NYSE:GHL) traded down $0.30 during mid-day trading on Monday, reaching $19.70. The company had a trading volume of 804,397 shares, compared to its average volume of 591,861. Greenhill & Co., Inc. has a 12 month low of $13.80 and a 12 month high of $32.45. The stock has a market capitalization of $521.33, a price-to-earnings ratio of 25.00 and a beta of 1.31. The company has a debt-to-equity ratio of 0.32, a current ratio of 3.83 and a quick ratio of 3.83.

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

Greenhill & Co., Inc. announced that its Board of Directors has approved a share repurchase program on Monday, September 25th that allows the company to repurchase $235.00 million in shares. This repurchase authorization allows the financial services provider to buy up to 55.3% of its shares through open market purchases. Shares repurchase programs are usually a sign that the company’s leadership believes its stock is undervalued.

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, December 20th. Investors of record on Wednesday, December 6th will be paid a $0.05 dividend. This represents a $0.20 dividend on an annualized basis and a yield of 1.02%. The ex-dividend date is Tuesday, December 5th. Greenhill & Co., Inc.’s payout ratio is 250.00%.

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About Greenhill & Co., Inc.

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., Inc. (NYSE:GHL)

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