Cresset Asset Management LLC Sells 5,902 Shares of Houlihan Lokey, Inc. (NYSE:HLI)

Cresset Asset Management LLC decreased its stake in shares of Houlihan Lokey, Inc. (NYSE:HLI - Free Report) by 30.7% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 13,317 shares of the financial services provider's stock after selling 5,902 shares during the period. Cresset Asset Management LLC's holdings in Houlihan Lokey were worth $2,313,000 as of its most recent SEC filing.

A number of other large investors have also recently modified their holdings of the stock. Private Trust Co. NA purchased a new position in Houlihan Lokey during the 4th quarter valued at about $29,000. Financial Life Planners purchased a new position in Houlihan Lokey during the 4th quarter valued at about $33,000. Golden State Wealth Management LLC purchased a new position in Houlihan Lokey during the 4th quarter valued at about $53,000. VisionPoint Advisory Group LLC purchased a new position in Houlihan Lokey during the 4th quarter valued at about $62,000. Finally, Mather Group LLC. lifted its position in Houlihan Lokey by 24.8% during the 4th quarter. Mather Group LLC. now owns 584 shares of the financial services provider's stock valued at $101,000 after acquiring an additional 116 shares during the period. Institutional investors own 78.07% of the company's stock.

Houlihan Lokey Stock Up 2.2%

NYSE HLI traded up $3.84 during trading hours on Monday, reaching $177.84. The company's stock had a trading volume of 378,741 shares, compared to its average volume of 352,722. The firm's 50-day moving average price is $158.87 and its 200-day moving average price is $171.57. Houlihan Lokey, Inc. has a 1 year low of $127.14 and a 1 year high of $192.10. The company has a market capitalization of $12.47 billion, a price-to-earnings ratio of 33.94 and a beta of 0.82.

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

Houlihan Lokey Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Sunday, June 15th. Investors of record on Monday, June 2nd will be issued a $0.60 dividend. The ex-dividend date is Monday, June 2nd. This is a boost from Houlihan Lokey's previous quarterly dividend of $0.57. This represents a $2.40 dividend on an annualized basis and a yield of 1.35%. Houlihan Lokey's payout ratio is currently 41.24%.

Analyst Upgrades and Downgrades

HLI has been the subject of a number of recent research reports. Wells Fargo & Company lifted their price target on shares of Houlihan Lokey from $170.00 to $185.00 and gave the company an "overweight" rating in a research report on Thursday. Morgan Stanley lowered their price target on shares of Houlihan Lokey from $190.00 to $156.00 and set an "overweight" rating for the company in a research report on Monday, April 7th. Keefe, Bruyette & Woods lifted their price target on shares of Houlihan Lokey from $183.00 to $185.00 and gave the company a "market perform" rating in a research report on Monday. JMP Securities reissued a "market perform" rating on shares of Houlihan Lokey in a research report on Wednesday, January 29th. Finally, JPMorgan Chase & Co. decreased their target price on shares of Houlihan Lokey from $172.00 to $169.00 and set a "neutral" rating for the company in a report on Wednesday, January 29th. Four research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of "Hold" and an average target price of $185.00.

About Houlihan Lokey

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.