Bank of America Corp DE Sells 127,602 Shares of Houlihan Lokey, Inc. (NYSE:HLI)

Bank of America Corp DE lowered its stake in Houlihan Lokey, Inc. (NYSE:HLI - Free Report) by 10.6% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 1,079,474 shares of the financial services provider's stock after selling 127,602 shares during the quarter. Bank of America Corp DE owned 1.55% of Houlihan Lokey worth $187,461,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also modified their holdings of the company. Barclays PLC increased its holdings in shares of Houlihan Lokey by 21.4% in the 3rd quarter. Barclays PLC now owns 36,821 shares of the financial services provider's stock worth $5,818,000 after buying an additional 6,483 shares during the last quarter. Fulton Bank N.A. grew its stake in shares of Houlihan Lokey by 5.8% during the fourth quarter. Fulton Bank N.A. now owns 7,621 shares of the financial services provider's stock worth $1,323,000 after acquiring an additional 418 shares during the last quarter. Wealth Enhancement Advisory Services LLC boosted its position in Houlihan Lokey by 1.8% in the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 26,706 shares of the financial services provider's stock valued at $4,220,000 after buying an additional 482 shares during the last quarter. PFW Advisors LLC purchased a new stake in Houlihan Lokey in the 4th quarter worth approximately $243,000. Finally, Gunderson Capital Management Inc. purchased a new stake in Houlihan Lokey in the 4th quarter worth approximately $5,133,000. Hedge funds and other institutional investors own 78.07% of the company's stock.

Houlihan Lokey Stock Performance

NYSE HLI traded up $3.84 during trading on Monday, reaching $177.84. 378,741 shares of the company traded hands, compared to its average volume of 352,722. The stock's 50 day moving average price is $158.55 and its two-hundred day moving average price is $171.49. The company has a market cap of $12.47 billion, a price-to-earnings ratio of 33.94 and a beta of 0.82. Houlihan Lokey, Inc. has a 1-year low of $127.14 and a 1-year high of $192.10.

Houlihan Lokey (NYSE:HLI - Get Free Report) last issued its quarterly earnings results on Wednesday, May 7th. The financial services provider reported $1.96 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.61 by $0.35. Houlihan Lokey had a return on equity of 20.04% and a net margin of 16.00%. The business had revenue of $666.42 million for the quarter, compared to analyst estimates of $628.25 million. During the same quarter in the prior year, the firm posted $1.27 earnings per share. The firm's revenue for the quarter was up 28.0% compared to the same quarter last year. Equities research analysts expect that Houlihan Lokey, Inc. will post 5.98 EPS for the current fiscal year.

Houlihan Lokey Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Sunday, June 15th. Investors of record on Monday, June 2nd will be issued a dividend of $0.60 per share. The ex-dividend date of this dividend is Monday, June 2nd. This is an increase from Houlihan Lokey's previous quarterly dividend of $0.57. This represents a $2.40 dividend on an annualized basis and a dividend yield of 1.35%. Houlihan Lokey's dividend payout ratio (DPR) is presently 43.51%.

Wall Street Analysts Forecast Growth

HLI has been the subject of a number of recent analyst reports. Wells Fargo & Company raised their price objective on Houlihan Lokey from $170.00 to $185.00 and gave the stock an "overweight" rating in a research report on Thursday. StockNews.com lowered Houlihan Lokey from a "buy" rating to a "hold" rating in a research report on Tuesday, February 25th. JMP Securities restated a "market perform" rating on shares of Houlihan Lokey in a research note on Wednesday, January 29th. JPMorgan Chase & Co. decreased their target price on Houlihan Lokey from $172.00 to $169.00 and set a "neutral" rating on the stock in a research report on Wednesday, January 29th. Finally, UBS Group upped their price target on Houlihan Lokey from $229.00 to $230.00 and gave the stock a "buy" rating in a research note on Wednesday, January 29th. Four equities research analysts have rated the stock with a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of "Hold" and a consensus price target of $185.00.

Houlihan Lokey Profile

Houlihan Lokey, Inc, an investment banking company, provides merger and acquisition (M&A), capital market, financial restructuring, and financial and valuation advisory services worldwide. It operates in three segments: Corporate Finance, Financial Restructuring, and Financial and Valuation Advisory.