Morgan Stanley Sells 121,240 Shares of Greenhill & Co., Inc. (GHL)
Morgan Stanley decreased its position in Greenhill & Co., Inc. (NYSE:GHL) by 42.1% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 166,953 shares of the financial services provider’s stock after selling 121,240 shares during the period. Morgan Stanley’s holdings in Greenhill & Co. were worth $4,892,000 at the end of the most recent reporting period.
Other institutional investors have also modified their holdings of the company. Trust Department MB Financial Bank N A bought a new stake in Greenhill & Co. during the first quarter valued at $147,000. State of Alaska Department of Revenue increased its stake in Greenhill & Co. by 76.8% in the first quarter. State of Alaska Department of Revenue now owns 5,270 shares of the financial services provider’s stock valued at $154,000 after buying an additional 2,290 shares during the period. Ledyard National Bank bought a new stake in Greenhill & Co. during the first quarter valued at $169,000. Mason Street Advisors LLC increased its stake in Greenhill & Co. by 8.2% in the first quarter. Mason Street Advisors LLC now owns 6,432 shares of the financial services provider’s stock valued at $188,000 after buying an additional 489 shares during the period. Finally, Globeflex Capital L P bought a new stake in Greenhill & Co. during the first quarter valued at $201,000. Institutional investors own 94.42% of the company’s stock.
Greenhill & Co., Inc. (NYSE:GHL) traded down 0.150% on Thursday, reaching $16.675. 21,098 shares of the company’s stock were exchanged. The company has a market cap of $493.20 million, a PE ratio of 12.748 and a beta of 1.29. The firm’s 50 day moving average price is $19.37 and its 200 day moving average price is $24.75. Greenhill & Co., Inc. has a 52-week low of $16.50 and a 52-week high of $32.45.
Greenhill & Co. (NYSE:GHL) last posted its quarterly earnings data on Thursday, July 27th. The financial services provider reported $0.20 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.30 by $0.10. The business had revenue of $67.27 million during the quarter, compared to analysts’ expectations of $72.25 million. Greenhill & Co. had a return on equity of 15.64% and a net margin of 13.98%. The business’s quarterly revenue was down 25.7% compared to the same quarter last year. During the same period in the previous year, the business posted $0.62 EPS. On average, analysts expect that Greenhill & Co., Inc. will post $0.55 earnings per share for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 27th. Investors of record on Wednesday, September 13th will be issued a $0.45 dividend. This represents a $1.80 dividend on an annualized basis and a dividend yield of 10.78%. The ex-dividend date is Tuesday, September 12th. Greenhill & Co.’s payout ratio is 135.34%.
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Several equities research analysts have recently commented on the stock. ValuEngine downgraded shares of Greenhill & Co. from a “strong-buy” rating to a “buy” rating in a research report on Friday, July 14th. Zacks Investment Research upgraded shares of Greenhill & Co. from a “hold” rating to a “buy” rating and set a $30.00 price target on the stock in a report on Tuesday, April 18th. TheStreet cut shares of Greenhill & Co. from a “b-” rating to a “c+” rating in a report on Wednesday, June 21st. Keefe, Bruyette & Woods restated a “hold” rating and set a $21.00 price target on shares of Greenhill & Co. in a report on Friday, July 14th. Finally, Nomura restated a “sell” rating and set a $21.00 price target on shares of Greenhill & Co. in a report on Monday, May 1st. Seven research analysts have rated the stock with a sell rating, one has issued a hold rating and one has assigned a buy rating to the company. The stock presently has a consensus rating of “Sell” and an average target price of $22.00.
About Greenhill & Co.
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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