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

Greenhill & Co., Inc. (NYSE:GHL) was the target of a large drop in short interest in June. As of June 30th, there was short interest totalling 2,149,300 shares, a drop of 19.2% from the May 30th total of 2,660,500 shares. Based on an average trading volume of 255,400 shares, the days-to-cover ratio is presently 8.4 days. Currently, 13.3% of the company’s stock are short sold.

Several brokerages recently weighed in on GHL. UBS Group set a €45.00 ($52.33) price target on shares of Fuchs Petrolub and gave the company a “buy” rating in a research report on Thursday, March 21st. Zacks Investment Research lowered shares of W. R. Grace & Co from a “buy” rating to a “hold” rating in a research note on Wednesday, May 1st. TheStreet lowered shares of Weibo from a “b-” rating to a “c+” rating in a research note on Friday, May 31st. Keefe, Bruyette & Woods lowered shares of Greenhill & Co., Inc. from a “market perform” rating to an “underperform” rating and decreased their price objective for the company from $23.50 to $23.00 in a research note on Tuesday, April 30th. Finally, ValuEngine upgraded shares of Vermillion from a “hold” rating to a “buy” rating in a research note on Wednesday, May 15th. Four analysts have rated the stock with a sell rating and four have issued a hold rating to the stock. The stock presently has a consensus rating of “Hold” and an average price target of $22.71.

NYSE:GHL traded up $0.01 on Friday, hitting $14.38. The stock had a trading volume of 233,473 shares, compared to its average volume of 294,666. The firm’s fifty day simple moving average is $14.69. The company has a current ratio of 3.67, a quick ratio of 3.67 and a debt-to-equity ratio of 11.46. Greenhill & Co., Inc. has a 1 year low of $13.00 and a 1 year high of $33.45. The firm has a market cap of $298.62 million, a PE ratio of 8.93 and a beta of 0.85.

Greenhill & Co., Inc. (NYSE:GHL) last issued its quarterly earnings results on Monday, April 29th. The financial services provider reported ($0.58) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.24) by ($0.34). Greenhill & Co., Inc. had a return on equity of 32.81% and a net margin of 5.53%. The company had revenue of $51.20 million for the quarter, compared to analysts’ expectations of $57.43 million. During the same quarter in the previous year, the business earned $0.21 EPS. The company’s revenue for the quarter was down 41.5% on a year-over-year basis. Research analysts expect that Greenhill & Co., Inc. will post 0.82 EPS for the current fiscal year.

The business also recently declared a quarterly dividend, which was paid on Wednesday, June 19th. Stockholders of record on Wednesday, June 5th were paid a dividend of $0.05 per share. The ex-dividend date was Tuesday, June 4th. This represents a $0.20 annualized dividend and a dividend yield of 1.39%. Greenhill & Co., Inc.’s payout ratio is currently 12.42%.

Several hedge funds have recently modified their holdings of GHL. Intrepid Capital Management Inc. boosted its stake in Greenhill & Co., Inc. by 1.3% during the first quarter. Intrepid Capital Management Inc. now owns 107,778 shares of the financial services provider’s stock worth $2,318,000 after acquiring an additional 1,350 shares in the last quarter. Dynamic Technology Lab Private Ltd boosted its stake in Greenhill & Co., Inc. by 277.1% during the first quarter. Dynamic Technology Lab Private Ltd now owns 37,785 shares of the financial services provider’s stock worth $813,000 after acquiring an additional 27,765 shares in the last quarter. NumerixS Investment Technologies Inc bought a new stake in Greenhill & Co., Inc. during the first quarter worth about $104,000. Acadian Asset Management LLC bought a new stake in Greenhill & Co., Inc. during the first quarter worth about $1,082,000. Finally, Spark Investment Management LLC bought a new stake in Greenhill & Co., Inc. during the first quarter worth about $2,303,000. Institutional investors own 84.00% of the company’s stock.

About Greenhill & Co., Inc.

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.

Further Reading: Why is the ex-dividend date different from the record date?

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