Assenagon Asset Management S.A. Has $16.96 Million Stock Holdings in Houlihan Lokey, Inc. $HLI

Key Points

• Assenagon Asset Management increased its Houlihan Lokey stake by 7.5% in the second quarter, bringing its holdings to 126,476 shares valued at approximately $16.96 million. Institutional investors and hedge funds collectively own 78.07% of the company.
• Houlihan Lokey’s latest quarterly results missed expectations: earnings per share came in at $1.35 versus a $1.64 consensus estimate, while revenue fell 15.6% year over year to $511 million. The stock opened at $123.28, well below its 50-day and 200-day moving averages.
• Analysts maintain a “Moderate Buy” consensus with an average price target of $166.38, while the company declared a quarterly dividend of $0.70 per share, implying a 2.3% annualized yield.

Assenagon Asset Management S.A. boosted its position in Houlihan Lokey, Inc. (NYSE:HLI - Free Report) by 7.5% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 126,476 shares of the financial services provider's stock after acquiring an additional 8,871 shares during the quarter. Assenagon Asset Management S.A. owned 0.18% of Houlihan Lokey worth $16,964,000 at the end of the most recent reporting period.

Other institutional investors have also added to or reduced their stakes in the company. GAMMA Investing LLC increased its stake in shares of Houlihan Lokey by 24.1% in the 2nd quarter. GAMMA Investing LLC now owns 8,140 shares of the financial services provider's stock valued at $1,092,000 after purchasing an additional 1,581 shares during the last quarter. Harbor Investment Advisory LLC acquired a new position in shares of Houlihan Lokey during the 2nd quarter worth $55,000. Versant Capital Management Inc lifted its position in shares of Houlihan Lokey by 91.0% during the 2nd quarter. Versant Capital Management Inc now owns 510 shares of the financial services provider's stock worth $68,000 after buying an additional 243 shares during the last quarter. Pacer Advisors Inc. lifted its position in shares of Houlihan Lokey by 1.6% during the 1st quarter. Pacer Advisors Inc. now owns 8,198 shares of the financial services provider's stock worth $1,177,000 after buying an additional 133 shares during the last quarter. Finally, Henshaw Capital LLC acquired a new stake in Houlihan Lokey in the first quarter valued at about $1,144,000. 78.07% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Houlihan Lokey

In related news, Chairman Scott L. Beiser sold 6,265 shares of the stock in a transaction on Thursday, May 21st. The stock was sold at an average price of $150.26, for a total value of $941,378.90. Following the completion of the sale, the chairman directly owned 6,265 shares in the company, valued at $941,378.90. This represents a 50.00% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. 22.53% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

A number of research analysts have issued reports on HLI shares. US Capital Advisors set a $187.00 target price on Houlihan Lokey in a research report on Thursday, July 9th. Keefe, Bruyette & Woods dropped their target price on shares of Houlihan Lokey from $160.00 to $153.00 and set an "outperform" rating for the company in a report on Thursday, July 30th. Morgan Stanley reduced their price target on shares of Houlihan Lokey from $187.00 to $177.00 and set an "overweight" rating on the stock in a research note on Thursday, July 30th. Bank of America started coverage on shares of Houlihan Lokey in a report on Friday, July 10th. They set a "buy" rating and a $164.00 price target on the stock. Finally, The Goldman Sachs Group lowered their price objective on shares of Houlihan Lokey from $171.00 to $148.00 and set a "buy" rating for the company in a research report on Thursday, July 30th. Five equities research analysts have rated the stock with a Buy rating and five have given a Hold rating to the stock. According to MarketBeat.com, Houlihan Lokey presently has an average rating of "Moderate Buy" and an average target price of $166.38.

Houlihan Lokey Trading Down 4.4%

NYSE:HLI opened at $123.28 on Tuesday. The stock's 50-day moving average is $137.10 and its 200-day moving average is $149.38. Houlihan Lokey, Inc. has a 1-year low of $112.83 and a 1-year high of $211.78. The stock has a market cap of $8.51 billion, a P/E ratio of 20.72, a price-to-earnings-growth ratio of 1.44 and a beta of 0.95.

Houlihan Lokey (NYSE:HLI - Get Free Report) last issued its quarterly earnings data on Wednesday, July 29th. The financial services provider reported $1.35 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $1.64 by ($0.29). Houlihan Lokey had a net margin of 16.10% and a return on equity of 20.20%. The business had revenue of $511.00 million during the quarter, compared to the consensus estimate of $602.38 million. During the same quarter last year, the business earned $2.14 EPS. The firm's quarterly revenue was down 15.6% compared to the same quarter last year. As a group, equities analysts forecast that Houlihan Lokey, Inc. will post 7.13 EPS for the current year.

Houlihan Lokey Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 15th. Investors of record on Tuesday, September 1st will be paid a $0.70 dividend. The ex-dividend date of this dividend is Tuesday, September 1st. This represents a $2.80 annualized dividend and a dividend yield of 2.3%. Houlihan Lokey's payout ratio is currently 47.06%.

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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