Ancora Advisors LLC Has $45.28 Million Position in Houlihan Lokey, Inc. $HLI

Key Points

• Ancora Advisors LLC has reduced its stake in Houlihan Lokey, Inc. by 1.2%, selling 3,399 shares, and now owns about 0.4% of the company's stock valued at $45.28 million.
• Hedge funds and institutional investors collectively own 78.07% of Houlihan Lokey's stock, indicating significant institutional involvement in the company.
• The company recently declared a quarterly dividend of $0.60 per share, with an upcoming ex-dividend date on September 2nd, representing a 1.2% dividend yield.

Ancora Advisors LLC trimmed its position in shares of Houlihan Lokey, Inc. (NYSE:HLI - Free Report) by 1.2% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 280,372 shares of the financial services provider's stock after selling 3,399 shares during the period. Houlihan Lokey accounts for approximately 1.0% of Ancora Advisors LLC's investment portfolio, making the stock its 20th biggest position. Ancora Advisors LLC owned approximately 0.40% of Houlihan Lokey worth $45,280,000 at the end of the most recent reporting period.

Other institutional investors have also added to or reduced their stakes in the company. Bogart Wealth LLC increased its holdings in Houlihan Lokey by 111.1% during the first quarter. Bogart Wealth LLC now owns 152 shares of the financial services provider's stock worth $25,000 after buying an additional 80 shares during the last quarter. Motco acquired a new position in shares of Houlihan Lokey in the first quarter valued at $29,000. Brooklyn Investment Group acquired a new position in shares of Houlihan Lokey in the first quarter valued at $33,000. TCTC Holdings LLC increased its holdings in shares of Houlihan Lokey by 103.5% in the first quarter. TCTC Holdings LLC now owns 232 shares of the financial services provider's stock valued at $37,000 after purchasing an additional 118 shares during the last quarter. Finally, Caitong International Asset Management Co. Ltd increased its holdings in shares of Houlihan Lokey by 3,714.3% in the first quarter. Caitong International Asset Management Co. Ltd now owns 267 shares of the financial services provider's stock valued at $43,000 after purchasing an additional 260 shares during the last quarter. 78.07% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several research firms have commented on HLI. Keefe, Bruyette & Woods upgraded shares of Houlihan Lokey from a "hold" rating to a "moderate buy" rating and upped their price objective for the company from $185.00 to $232.00 in a report on Monday, July 14th. Wells Fargo & Company boosted their target price on shares of Houlihan Lokey from $185.00 to $209.00 and gave the company an "overweight" rating in a research report on Friday, July 11th. Wall Street Zen cut shares of Houlihan Lokey from a "buy" rating to a "hold" rating in a research report on Saturday, August 2nd. Finally, Morgan Stanley reissued an "overweight" rating and issued a $192.00 target price (up previously from $159.00) on shares of Houlihan Lokey in a research report on Monday, June 23rd. Three analysts have rated the stock with a Buy rating and two have given a Hold rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $206.40.

Houlihan Lokey Price Performance

HLI traded down $0.65 on Friday, hitting $196.81. 553,519 shares of the stock were exchanged, compared to its average volume of 360,885. Houlihan Lokey, Inc. has a 12 month low of $137.99 and a 12 month high of $201.63. The business has a 50-day moving average of $192.57 and a two-hundred day moving average of $175.35. The firm has a market capitalization of $13.84 billion, a price-to-earnings ratio of 33.13 and a beta of 0.86.

Houlihan Lokey (NYSE:HLI - Get Free Report) last posted its quarterly earnings data on Tuesday, July 29th. The financial services provider reported $2.14 earnings per share for the quarter, topping the consensus estimate of $1.69 by $0.45. Houlihan Lokey had a net margin of 16.46% and a return on equity of 23.75%. The business had revenue of $605.35 million during the quarter, compared to analysts' expectations of $573.07 million. During the same quarter in the prior year, the business posted $1.22 earnings per share. Houlihan Lokey's revenue was up 17.8% compared to the same quarter last year. Equities research analysts expect that Houlihan Lokey, Inc. will post 5.98 earnings per share for the current fiscal year.

Houlihan Lokey Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, September 15th. Stockholders of record on Tuesday, September 2nd will be issued a $0.60 dividend. The ex-dividend date of this dividend 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%.

Insider Transactions at Houlihan Lokey

In other news, Chairman Paul Eric Siegert sold 40,000 shares of the 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Chairman Irwin Gold sold 5,000 shares of the stock in a transaction dated Monday, June 30th. The stock was sold at an average price of $182.81, for a total transaction of $914,050.00. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 45,500 shares of company stock valued at $9,010,160. 22.83% of the stock is currently 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.