Houlihan Lokey, Inc. $HLI Shares Acquired by Amundi

Key Points

• Amundi significantly increased its ownership of Houlihan Lokey by acquiring 50,847 shares, raising their total to 63,433 shares worth approximately $9.73 million, representing a 404% increase in the first quarter.
• Insiders have sold a total of 45,500 shares in the past three months, valued at over $9 million, with insiders holding a total of 22.83% of the company's stock.
• Analysts are optimistic about Houlihan Lokey's growth, with recent price target increases from firms like Morgan Stanley and Wells Fargo, suggesting a consensus target price of around $210.60.

Amundi grew its position in Houlihan Lokey, Inc. (NYSE:HLI - Free Report) by 404.0% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 63,433 shares of the financial services provider's stock after purchasing an additional 50,847 shares during the quarter. Amundi owned about 0.09% of Houlihan Lokey worth $9,725,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of the company. Federation des caisses Desjardins du Quebec grew its holdings in Houlihan Lokey by 209.6% in the first quarter. Federation des caisses Desjardins du Quebec now owns 13,733 shares of the financial services provider's stock worth $2,218,000 after purchasing an additional 9,297 shares during the last quarter. PDT Partners LLC grew its holdings in Houlihan Lokey by 300.0% in the first quarter. PDT Partners LLC now owns 10,088 shares of the financial services provider's stock worth $1,629,000 after purchasing an additional 7,566 shares during the last quarter. Royal Bank of Canada grew its holdings in Houlihan Lokey by 14.4% in the first quarter. Royal Bank of Canada now owns 49,584 shares of the financial services provider's stock worth $8,008,000 after purchasing an additional 6,253 shares during the last quarter. Alamea Verwaltungs GmbH acquired a new stake in shares of Houlihan Lokey during the first quarter worth $495,000. Finally, Quarry LP acquired a new stake in shares of Houlihan Lokey during the first quarter worth $91,000. 78.07% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several equities research analysts have recently commented on the stock. Keefe, Bruyette & Woods upgraded shares of Houlihan Lokey from a "hold" rating to a "moderate buy" rating and lifted their price objective for the stock from $185.00 to $232.00 in a research note on Monday, July 14th. Wall Street Zen downgraded shares of Houlihan Lokey from a "buy" rating to a "hold" rating in a research note on Saturday, August 2nd. Morgan Stanley lifted their price objective on shares of Houlihan Lokey from $192.00 to $213.00 and gave the stock an "overweight" rating in a research note on Monday, September 8th. Finally, Wells Fargo & Company lifted their price objective on shares of Houlihan Lokey from $185.00 to $209.00 and gave the stock an "overweight" rating in a research note on Friday, July 11th. Three investment analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company's stock. According to data from MarketBeat.com, the company has an average rating of "Moderate Buy" and an average target price of $210.60.

Insiders Place Their Bets

In other Houlihan Lokey news, Chairman Paul Eric Siegert sold 40,000 shares of the company's stock in a transaction dated Wednesday, August 27th. The shares were sold at an average price of $199.95, for a total value of $7,998,000.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, General Counsel Christopher M. Crain sold 500 shares of the company's stock in a transaction dated Tuesday, September 2nd. The stock was sold at an average price of $196.22, for a total transaction of $98,110.00. The disclosure for this sale can be found here. Over the last quarter, insiders sold 45,500 shares of company stock worth $9,010,160. Company insiders own 22.83% of the company's stock.

Houlihan Lokey Stock Performance

NYSE HLI traded down $2.13 on Monday, reaching $203.06. 304,504 shares of the company's stock traded hands, compared to its average volume of 391,227. The firm has a market cap of $14.28 billion, a price-to-earnings ratio of 34.19 and a beta of 0.86. The stock has a 50 day moving average price of $194.80 and a 200-day moving average price of $176.62. Houlihan Lokey, Inc. has a fifty-two week low of $137.99 and a fifty-two week high of $208.50.

Houlihan Lokey (NYSE:HLI - Get Free Report) last posted its earnings results on Tuesday, July 29th. The financial services provider reported $2.14 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.69 by $0.45. The company had revenue of $605.35 million during the quarter, compared to the consensus estimate of $573.07 million. Houlihan Lokey had a net margin of 16.46% and a return on equity of 23.75%. The firm's quarterly revenue was up 17.8% on a year-over-year basis. During the same period in the previous year, the firm posted $1.22 earnings per share. As a group, equities research analysts anticipate that Houlihan Lokey, Inc. will post 5.98 EPS for the current fiscal year.

Houlihan Lokey Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, September 15th. Shareholders of record on Tuesday, September 2nd will be given a $0.60 dividend. The ex-dividend date is Tuesday, September 2nd. This represents a $2.40 dividend on an annualized basis and a dividend yield of 1.2%. Houlihan Lokey's dividend payout ratio is 40.40%.

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.