Greenhill & Co., Inc. (NYSE:GHL) Shares Up 9.1%

Greenhill & Co., Inc. (NYSE:GHL)’s stock price shot up 9.1% during trading on Friday . The company traded as high as $14.18 and last traded at $14.14, 508,349 shares traded hands during mid-day trading. An increase of 69% from the average session volume of 300,768 shares. The stock had previously closed at $12.96.

A number of research firms have commented on GHL. Keefe, Bruyette & Woods cut shares of Greenhill & Co., Inc. from a “market perform” rating to an “underperform” rating and reduced their price target for the stock from $23.50 to $23.00 in a report on Tuesday, April 30th. TheStreet cut shares of Greenhill & Co., Inc. from a “b-” rating to a “c-” rating in a report on Friday, May 31st. Zacks Investment Research cut shares of Greenhill & Co., Inc. from a “buy” rating to a “hold” rating in a report on Friday, July 19th. ValuEngine upgraded shares of Greenhill & Co., Inc. from a “sell” rating to a “hold” rating in a report on Thursday. Finally, Buckingham Research reduced their price target on shares of Greenhill & Co., Inc. from $29.00 to $18.00 and set a “neutral” rating for the company in a report on Thursday, July 11th. Two equities research analysts have rated the stock with a sell rating and five have assigned a hold rating to the company. Greenhill & Co., Inc. presently has a consensus rating of “Hold” and a consensus price target of $21.67.

The company’s 50 day simple moving average is $14.35. The company has a debt-to-equity ratio of 11.46, a quick ratio of 3.67 and a current ratio of 3.67.

Greenhill & Co., Inc. (NYSE:GHL) last released its quarterly earnings data on Wednesday, July 31st. The financial services provider reported ($0.53) earnings per share for the quarter, missing analysts’ consensus estimates of $0.45 by ($0.98). Greenhill & Co., Inc. had a negative net margin of 2.03% and a negative return on equity of 7.72%. The business had revenue of $56.10 million during the quarter, compared to the consensus estimate of $64.26 million. During the same period last year, the business posted $0.38 earnings per share. The firm’s quarterly revenue was down 36.6% on a year-over-year basis.

The firm 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 dividend yield of 1.41%. The ex-dividend date of this dividend is Tuesday, September 3rd. Greenhill & Co., Inc.’s dividend payout ratio (DPR) is 12.42%.

Institutional investors have recently added to or reduced their stakes in the business. BNP Paribas Arbitrage SA lifted its stake in shares of Greenhill & Co., Inc. by 38.7% in the first quarter. BNP Paribas Arbitrage SA now owns 6,641 shares of the financial services provider’s stock valued at $143,000 after buying an additional 1,853 shares in the last quarter. Deutsche Bank AG lifted its position in shares of Greenhill & Co., Inc. by 36.7% during the fourth quarter. Deutsche Bank AG now owns 98,126 shares of the financial services provider’s stock valued at $2,392,000 after purchasing an additional 26,333 shares in the last quarter. Bank of America Corp DE lifted its position in shares of Greenhill & Co., Inc. by 28.5% during the fourth quarter. Bank of America Corp DE now owns 35,868 shares of the financial services provider’s stock valued at $875,000 after purchasing an additional 7,957 shares in the last quarter. Squarepoint Ops LLC bought a new position in shares of Greenhill & Co., Inc. during the fourth quarter valued at about $321,000. Finally, Norges Bank bought a new position in shares of Greenhill & Co., Inc. during the fourth quarter valued at about $6,255,000. 83.40% of the stock is currently owned by hedge funds and other institutional investors.

About Greenhill & Co., Inc. (NYSE:GHL)

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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