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| Get An Even Better Deal On GHL Than Director Danforth DidBy Dividend Channel Staff, Tuesday, November 22, 2:35 PM ET
There's an old saying on Wall Street about insider buying: there are many possible reasons to sell a stock, but only one reason to buy. Back on November 17, Greenhill & Company Incorporated's Director, John C Danforth, invested $193,776.48 into 5,150 shares of GHL, for a cost per share of $37.63. Bargain hunters tend to pay particular attention to insider buys like this one, because presumably the only reason an insider would take their hard-earned cash and use it to buy stock of their company in the open market, is that they expect to make money. In trading on Tuesday, bargain hunters could buy shares of Greenhill & Company Incorporated (NYSE:GHL) and achieve a cost basis 5.1% cheaper than Danforth, with shares changing hands as low as $35.71 per share. Greenhill & Company Incorporated shares are currently trading off about 1.2% on the day. The chart below shows the one year performance of GHL shares, versus its 200 day moving average:
Looking at the chart above, GHL's low point in its 52 week range is $26.38 per share, with $84.51 as the 52 week high point — that compares with a last trade of $36.08. By comparison, below is a table showing the prices at which insider buying was recorded over the last six months:
The current annualized dividend paid by Greenhill & Company Incorporated is $1.80/share, currently paid in quarterly installments, and its most recent dividend has an upcoming ex-date of 12/05/2011. Below is a long-term dividend history chart for GHL, which can be of good help in judging whether the most recent dividend with approx. 4.9% annualized yield is likely to continue.
According to the ETF Finder at ETF Channel, GHL makes up 3.39% of the iShares Dow Jones U.S. Broker-Dealers Index Fund ETF (AMEX:IAI) which is trading higher by about 0.1% on the day Tuesday. See what other ETFs contain GHL » Free Trial: ''ETF CHANNEL FLEXIBLE GROWTH INVESTMENT PORTFOLIO'' The ETF Channel Flexible Growth Investment Portfolio is designed to seek growth for investors — anywhere and everywhere. The key to the program is our portfolio strategy allows us complete flexibility in terms of asset allocation as there are no predetermined guidelines as to the level of stocks, bonds, cash, regions, countries, sectors, commodities, or even asset classes in the portfolio! In short, this is a completely flexible portfolio designed to follow the performance trail wherever it leads us.
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One Reason For Insiders to Buy
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