If you are looking for the best ideas for your portfolio you may want to consider some of Miller Value Partners top stock picks. Miller Value Partners, an investment management firm, is bullish on Greenhill & Co Inc (NYSE:GHL) stock. In its Income Strategy Q2 2019 investor letter – you can download a copy here – the firm discussed its investment thesis on Greenhill & Co Inc (NYSE:GHL) stock. Greenhill & Co Inc (NYSE:GHL) is an investment banking company.
On July 17, 2019, Miller Value Partners had released its Income Strategy Q2 2019 investor letter. The investment firm said that Greenhill & Co Inc (NYSE:GHL) was one of the biggest detractors to its performance in Q2 2019. Greenhill & Co Inc (NYSE:GHL) stock has posted a return of -10.7% in the trailing one year period, underperforming the S&P 500 Index which returned 15.1% in the same period. This suggests that the investment firm was wrong in its decision. On a year-to-date basis, Greenhill & Co Inc (NYSE:GHL) stock has fallen by 29.8%.
Let’s take a look at comments made by Miller Value Partners about Greenhill & Co Inc (NYSE:GHL) stock in the Q2 2019 investor letter.
“Greenhill & Co (GHL) fell -36.62% over the quarter after reporting a wider than expected Q1 loss of $(0.64) versus estimates of $(0.11), driven by weaker-than-estimated advisory fees of $51M. The company repurchased $24M of shares over the period, leaving $75M on its authorization after refinancing and upsizing its term loan facility to $375M. Management remains constructive on the M&A market for the balance of the year, noting they have seen a rebound in recent deal activity, driven by equity markets returning to all-time highs and financing markets reopening.”
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Video: Top 5 Stocks Among Hedge Funds
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