Ancora Advisors LLC Buys New Shares in Houlihan Lokey, Inc. $HLI

Key Points

• Ancora Advisors initiated a 214,346-share position in Houlihan Lokey valued at approximately $28.75 million, while institutional investors collectively owned 78.07% of the company.
• Houlihan Lokey reported weaker-than-expected quarterly results, with EPS of $1.35 versus the $1.64 consensus estimate and revenue of $511 million versus $602.38 million expected. Revenue fell 15.6% year over year.
• The company declared a quarterly dividend of $0.70 per share, or $2.80 annually, representing a 2.2% yield. Analysts’ consensus rating is “Hold,” with an average price target of $166.38 compared with the reported share price of $129.37.

Ancora Advisors LLC bought a new position in shares of Houlihan Lokey, Inc. (NYSE:HLI - Free Report) during the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor bought 214,346 shares of the financial services provider's stock, valued at approximately $28,750,000. Ancora Advisors LLC owned approximately 0.31% of Houlihan Lokey as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Royal Bank of Canada grew its stake 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 valued at $8,008,000 after acquiring an additional 6,253 shares during the period. AQR Capital Management LLC lifted its holdings in shares of Houlihan Lokey by 50.0% in the 1st quarter. AQR Capital Management LLC now owns 29,654 shares of the financial services provider's stock worth $4,598,000 after purchasing an additional 9,891 shares in the last quarter. Millennium Management LLC acquired a new stake in Houlihan Lokey in the 1st quarter valued at $18,964,000. Goldman Sachs Group Inc. increased its stake in Houlihan Lokey by 5.7% during the 1st quarter. Goldman Sachs Group Inc. now owns 415,743 shares of the financial services provider's stock valued at $67,143,000 after purchasing an additional 22,553 shares in the last quarter. Finally, Arrowstreet Capital Limited Partnership bought a new stake in Houlihan Lokey during the 2nd quarter valued at $1,033,000. 78.07% of the stock is owned by institutional investors.

Houlihan Lokey Stock Performance

Shares of HLI stock opened at $129.37 on Wednesday. The company has a market capitalization of $8.93 billion, a price-to-earnings ratio of 21.74, a PEG ratio of 1.48 and a beta of 0.95. Houlihan Lokey, Inc. has a 52-week low of $112.83 and a 52-week high of $211.78. The company has a 50-day simple moving average of $134.66 and a two-hundred day simple moving average of $145.57.

Houlihan Lokey (NYSE:HLI - Get Free Report) last posted its earnings results on Wednesday, July 29th. The financial services provider reported $1.35 EPS for the quarter, missing the consensus estimate of $1.64 by ($0.29). The firm had revenue of $511.00 million for the quarter, compared to the consensus estimate of $602.38 million. Houlihan Lokey had a return on equity of 20.20% and a net margin of 16.10%.Houlihan Lokey's quarterly revenue was down 15.6% compared to the same quarter last year. During the same period in the prior year, the business earned $2.14 EPS. On average, sell-side analysts forecast that Houlihan Lokey, Inc. will post 6.93 EPS for the current fiscal year.

Houlihan Lokey Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 15th. Shareholders of record on Tuesday, September 1st will be given a $0.70 dividend. The ex-dividend date of this dividend is Tuesday, September 1st. This represents a $2.80 annualized dividend and a yield of 2.2%. Houlihan Lokey's payout ratio is currently 47.06%.

Analyst Upgrades and Downgrades

A number of research analysts have weighed in on the stock. Bank of America initiated coverage on shares of Houlihan Lokey in a research note on Friday, July 10th. They issued a "buy" rating and a $164.00 price objective on the stock. Wall Street Zen downgraded shares of Houlihan Lokey from a "hold" rating to a "sell" rating in a research report on Saturday, August 8th. Zacks Research lowered shares of Houlihan Lokey from a "hold" rating to a "strong sell" rating in a report on Friday, August 21st. US Capital Advisors set a $187.00 price target on shares of Houlihan Lokey in a research report on Thursday, July 9th. Finally, Wolfe Research upgraded Houlihan Lokey from an "underperform" rating to a "peer perform" rating in a research note on Thursday, July 9th. Five research analysts have rated the stock with a Buy rating, four have given a Hold rating and one has assigned a Sell rating to the company's stock. According to MarketBeat, the company currently has an average rating of "Hold" and a consensus target price of $166.38.

Houlihan Lokey Company Profile

Houlihan Lokey, Inc is a global investment bank and financial services firm founded in 1972 and headquartered in Los Angeles, California. The company specializes in advisory services across a broad range of transaction types and financial matters. Since its founding, Houlihan Lokey has grown to serve corporations, financial sponsors, and government entities worldwide, providing expertise in complex and high-stakes engagements.

The firm's core service offerings include mergers and acquisitions advisory, capital markets advisory, financial restructuring and distressed M&A, and valuation and fairness opinions.

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