Assenagon Asset Management S.A. Takes $32.88 Million Position in Houlihan Lokey, Inc. $HLI

Key Points

• Assenagon Asset Management S.A. invested approximately $32.88 million in Houlihan Lokey, acquiring 182,729 shares, representing about 0.26% ownership of the company.
• Houlihan Lokey reported a net margin of 16.46% and a return on equity of 23.75%, with quarterly revenue increasing by 17.8% year-over-year to $605.35 million.
• The company declared a quarterly dividend of $0.60 per share, yielding an annualized total of $2.40, with a payout ratio of 40.40%.

Assenagon Asset Management S.A. bought a new stake in shares of Houlihan Lokey, Inc. (NYSE:HLI - Free Report) in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund bought 182,729 shares of the financial services provider's stock, valued at approximately $32,882,000. Assenagon Asset Management S.A. owned 0.26% of Houlihan Lokey at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently modified their holdings of HLI. Elevation Point Wealth Partners LLC purchased a new stake in Houlihan Lokey in the first quarter worth $619,000. New York State Teachers Retirement System lifted its holdings in Houlihan Lokey by 1.1% during the 1st quarter. New York State Teachers Retirement System now owns 17,926 shares of the financial services provider's stock valued at $2,895,000 after buying an additional 200 shares in the last quarter. OneDigital Investment Advisors LLC bought a new position in shares of Houlihan Lokey during the 1st quarter worth $210,000. Amundi grew its position in shares of Houlihan Lokey by 404.0% during the 1st quarter. Amundi now owns 63,433 shares of the financial services provider's stock worth $9,725,000 after buying an additional 50,847 shares in the last quarter. Finally, QRG Capital Management Inc. grew its position in shares of Houlihan Lokey by 9.7% during the 1st quarter. QRG Capital Management Inc. now owns 4,987 shares of the financial services provider's stock worth $805,000 after buying an additional 439 shares in the last quarter. 78.07% of the stock is owned by institutional investors.

Houlihan Lokey Trading Down 0.4%

HLI stock traded down $0.86 during trading on Monday, reaching $207.87. 277,494 shares of the stock were exchanged, compared to its average volume of 408,240. The firm has a market capitalization of $14.62 billion, a price-to-earnings ratio of 35.00 and a beta of 0.86. The business has a 50 day moving average price of $196.49 and a 200-day moving average price of $178.20. Houlihan Lokey, Inc. has a 1 year low of $137.99 and a 1 year high of $209.39.

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

Houlihan Lokey Announces Dividend

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

Insider Activity

In other news, Chairman Irwin Gold sold 6,811 shares of Houlihan Lokey stock in a transaction on Tuesday, September 16th. The stock was sold at an average price of $202.75, for a total value of $1,380,930.25. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, General Counsel Christopher M. Crain sold 500 shares of the stock in a transaction that occurred on 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 ninety days, insiders sold 52,311 shares of company stock valued at $10,391,090. 22.83% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

HLI has been the topic of several research analyst reports. Morgan Stanley boosted their target price on shares of Houlihan Lokey from $192.00 to $213.00 and gave the stock an "overweight" rating in a research report on Monday, September 8th. Wall Street Zen cut Houlihan Lokey from a "buy" rating to a "hold" rating in a research note on Saturday, August 2nd. Wells Fargo & Company raised their price objective on Houlihan Lokey from $185.00 to $209.00 and gave the stock an "overweight" rating in a research note on Friday, July 11th. Finally, Keefe, Bruyette & Woods upgraded Houlihan Lokey from a "hold" rating to a "moderate buy" rating and raised their price objective for the stock from $185.00 to $232.00 in a research note on Monday, July 14th. Three research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company's stock. Based on data from MarketBeat, the company has an average rating of "Moderate Buy" and an average target price of $210.60.

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.