B. Riley Wealth Advisors Inc. Acquires Shares of 2,645 Houlihan Lokey, Inc. (NYSE:HLI)

B. Riley Wealth Advisors Inc. purchased a new stake in Houlihan Lokey, Inc. (NYSE:HLI - Free Report) in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm purchased 2,645 shares of the financial services provider's stock, valued at approximately $459,000.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Raymond James Financial Inc. bought a new stake in Houlihan Lokey during the 4th quarter worth approximately $143,559,000. Norges Bank bought a new stake in shares of Houlihan Lokey in the fourth quarter worth $114,047,000. Invesco Ltd. increased its holdings in Houlihan Lokey by 122.7% in the fourth quarter. Invesco Ltd. now owns 1,041,201 shares of the financial services provider's stock valued at $180,815,000 after purchasing an additional 573,745 shares during the period. Prudential Financial Inc. raised its position in Houlihan Lokey by 731.6% during the 4th quarter. Prudential Financial Inc. now owns 347,469 shares of the financial services provider's stock worth $60,341,000 after purchasing an additional 305,685 shares during the last quarter. Finally, Jennison Associates LLC lifted its holdings in Houlihan Lokey by 341.0% during the 4th quarter. Jennison Associates LLC now owns 307,304 shares of the financial services provider's stock worth $53,366,000 after buying an additional 237,615 shares during the period. 78.07% of the stock is owned by institutional investors and hedge funds.

Houlihan Lokey Stock Performance

Houlihan Lokey stock traded down $1.06 during midday trading on Wednesday, hitting $174.32. 303,275 shares of the company's stock were exchanged, compared to its average volume of 351,146. The company has a market cap of $12.17 billion, a P/E ratio of 33.27 and a beta of 0.82. The stock has a 50-day moving average price of $164.08 and a two-hundred day moving average price of $171.39. Houlihan Lokey, Inc. has a 52-week low of $127.14 and a 52-week 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 EPS for the quarter, topping analysts' consensus estimates of $1.61 by $0.35. The firm had revenue of $666.42 million for the quarter, compared to analyst estimates of $628.25 million. Houlihan Lokey had a net margin of 16.00% and a return on equity of 20.04%. The business's revenue for the quarter was up 28.0% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $1.27 EPS. As a group, sell-side analysts expect that Houlihan Lokey, Inc. will post 5.98 earnings per share for the current year.

Houlihan Lokey Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Sunday, June 15th. Investors of record on Monday, June 2nd will be given a $0.60 dividend. This is an increase from Houlihan Lokey's previous quarterly dividend of $0.57. The ex-dividend date of this dividend is Monday, June 2nd. This represents a $2.40 dividend on an annualized basis and a yield of 1.38%. Houlihan Lokey's payout ratio is presently 41.24%.

Wall Street Analysts Forecast Growth

A number of analysts have weighed in on the company. Wells Fargo & Company increased their price target on Houlihan Lokey from $170.00 to $185.00 and gave the stock an "overweight" rating in a report on Thursday, May 8th. Morgan Stanley reduced their price objective 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 boosted their price objective on Houlihan Lokey from $183.00 to $185.00 and gave the stock a "market perform" rating in a research report on Monday, May 12th. Finally, Wall Street Zen raised Houlihan Lokey from a "hold" rating to a "buy" rating in a research report on Thursday, May 22nd. Three research analysts have rated the stock with a hold rating and four have given a buy rating to the company's stock. According to data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average price target of $185.00.

Insiders Place Their Bets

In related news, Chairman Scott L. Beiser sold 8,008 shares of the stock in a transaction on Monday, May 19th. The shares were sold at an average price of $178.71, for a total transaction of $1,431,109.68. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, General Counsel Christopher M. Crain sold 500 shares of the business's stock in a transaction on Monday, June 2nd. The stock was sold at an average price of $173.02, for a total transaction of $86,510.00. The disclosure for this sale can be found here. 23.68% of the stock is owned by insiders.

Houlihan Lokey Company 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.