Navellier & Associates Inc bought a new stake in Houlihan Lokey (NYSE:HLI) during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The firm bought 7,249 shares of the financial services provider’s stock, valued at approximately $323,000.
A number of other institutional investors have also recently made changes to their positions in HLI. Schwab Charles Investment Management Inc. grew its stake in Houlihan Lokey by 8.8% in the fourth quarter. Schwab Charles Investment Management Inc. now owns 131,146 shares of the financial services provider’s stock valued at $5,958,000 after purchasing an additional 10,576 shares in the last quarter. Teacher Retirement System of Texas bought a new position in Houlihan Lokey in the fourth quarter valued at approximately $409,000. California Public Employees Retirement System grew its stake in Houlihan Lokey by 12.1% in the fourth quarter. California Public Employees Retirement System now owns 10,205 shares of the financial services provider’s stock valued at $464,000 after purchasing an additional 1,100 shares in the last quarter. Swiss National Bank grew its stake in Houlihan Lokey by 26.8% in the fourth quarter. Swiss National Bank now owns 44,936 shares of the financial services provider’s stock valued at $2,041,000 after purchasing an additional 9,500 shares in the last quarter. Finally, First Trust Advisors LP bought a new position in Houlihan Lokey in the fourth quarter valued at approximately $6,509,000. 45.61% of the stock is currently owned by institutional investors and hedge funds.
In other news, insider J Lindsey Alley sold 13,895 shares of Houlihan Lokey stock in a transaction dated Monday, June 4th. The shares were sold at an average price of $49.11, for a total value of $682,383.45. Following the sale, the insider now owns 13,895 shares in the company, valued at $682,383.45. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, major shareholder Orix Hlhz Holding Llc sold 25,307 shares of Houlihan Lokey stock in a transaction dated Wednesday, May 16th. The shares were sold at an average price of $1,243,518.00, for a total transaction of $31,469,710,026.00. The disclosure for this sale can be found here. Insiders sold 2,940,840 shares of company stock valued at $989,723,085,872 in the last ninety days. 69.70% of the stock is owned by corporate insiders.
HLI has been the subject of a number of analyst reports. ValuEngine upgraded Houlihan Lokey from a “hold” rating to a “buy” rating in a research note on Wednesday, May 2nd. Buckingham Research began coverage on Houlihan Lokey in a research note on Thursday, April 5th. They set a “buy” rating and a $54.00 target price for the company. Finally, Zacks Investment Research upgraded Houlihan Lokey from a “hold” rating to a “buy” rating and set a $56.00 target price for the company in a research note on Wednesday, June 13th. One analyst has rated the stock with a hold rating and seven have issued a buy rating to the stock. Houlihan Lokey has an average rating of “Buy” and a consensus target price of $50.50.
Shares of NYSE HLI opened at $51.86 on Friday. Houlihan Lokey has a 12 month low of $34.16 and a 12 month high of $52.86. The company has a quick ratio of 0.72, a current ratio of 0.72 and a debt-to-equity ratio of 0.01. The company has a market cap of $3.48 billion, a PE ratio of 21.70, a price-to-earnings-growth ratio of 1.31 and a beta of 0.61.
Houlihan Lokey (NYSE:HLI) last released its quarterly earnings data on Wednesday, May 9th. The financial services provider reported $0.65 earnings per share for the quarter, beating analysts’ consensus estimates of $0.58 by $0.07. Houlihan Lokey had a net margin of 17.88% and a return on equity of 19.69%. The company had revenue of $244.75 million during the quarter, compared to analysts’ expectations of $236.68 million. During the same quarter in the previous year, the company earned $0.59 earnings per share. The firm’s revenue for the quarter was down 4.8% on a year-over-year basis. research analysts expect that Houlihan Lokey will post 2.71 EPS for the current year.
The company also recently disclosed a quarterly dividend, which was paid on Friday, June 15th. Shareholders of record on Monday, June 4th were issued a $0.27 dividend. This is a boost from Houlihan Lokey’s previous quarterly dividend of $0.20. The ex-dividend date of this dividend was Friday, June 1st. This represents a $1.08 dividend on an annualized basis and a yield of 2.08%. Houlihan Lokey’s payout ratio is presently 45.19%.
About Houlihan Lokey
Houlihan Lokey, Inc, an investment banking company, provides mergers and acquisitions (M&A), financings, financial restructurings, and financial advisory services in the United States, Canada, Europe, Asia, Australia, the Middle East, Latin America, and Africa. Its Corporate Finance segment offers general financial advisory services on M&A and capital markets offerings; advises public and private institutions on buy-side and sell-side transactions, leveraged loans, private mezzanine debt, high-yield debt, initial public offerings, follow-ons, convertibles, equity private placements, private equity, and liability management transactions; and advises financial sponsors on various transactions.
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