Atwood & Palmer Inc. Sells 51,373 Shares of Houlihan Lokey, Inc. $HLI

Key Points

• Atwood & Palmer cut its Houlihan Lokey position by 71.1% in the second quarter, selling 51,373 shares and retaining 20,897 shares valued at approximately $2.8 million. Institutional investors collectively own 78.07% of HLI.
• Analyst sentiment remains positive but mixed: the stock has a consensus “Moderate Buy” rating from 10 analysts, with an average price target of $166.38, despite recent target reductions from Goldman Sachs and BMO Capital Markets.
• Houlihan Lokey reported weaker-than-expected quarterly results, with EPS of $1.35 versus the $1.64 estimate and revenue of $511 million versus $602.38 million expected. The company declared a quarterly dividend of $0.70 per share, representing a 2.2% yield.

Atwood & Palmer Inc. trimmed its position in Houlihan Lokey, Inc. (NYSE:HLI - Free Report) by 71.1% during the 2nd quarter, according to its most recent Form 13F filing with the SEC. The fund owned 20,897 shares of the financial services provider's stock after selling 51,373 shares during the period. Atwood & Palmer Inc.'s holdings in Houlihan Lokey were worth $2,803,000 as of its most recent SEC filing.

A number of other large investors have also made changes to their positions in the company. Resources Management Corp CT ADV increased its position in Houlihan Lokey by 0.9% during the second quarter. Resources Management Corp CT ADV now owns 5,845 shares of the financial services provider's stock worth $1,052,000 after purchasing an additional 55 shares during the last quarter. Huntington National Bank boosted its holdings in Houlihan Lokey by 5.5% in the 4th quarter. Huntington National Bank now owns 1,156 shares of the financial services provider's stock valued at $201,000 after purchasing an additional 60 shares during the last quarter. Moneta Group Investment Advisors LLC boosted its holdings in Houlihan Lokey by 1.2% in the 4th quarter. Moneta Group Investment Advisors LLC now owns 5,267 shares of the financial services provider's stock valued at $917,000 after purchasing an additional 61 shares during the last quarter. Northwestern Mutual Wealth Management Co. grew its stake in shares of Houlihan Lokey by 7.9% in the 3rd quarter. Northwestern Mutual Wealth Management Co. now owns 956 shares of the financial services provider's stock valued at $196,000 after buying an additional 70 shares during the period. Finally, IFP Advisors Inc grew its stake in shares of Houlihan Lokey by 4.4% in the 4th quarter. IFP Advisors Inc now owns 1,694 shares of the financial services provider's stock valued at $295,000 after buying an additional 72 shares during the period. 78.07% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of analysts have recently issued reports on HLI shares. The Goldman Sachs Group cut their price target on shares of Houlihan Lokey from $171.00 to $148.00 and set a "buy" rating for the company in a report on Thursday, July 30th. Bank of America assumed coverage on Houlihan Lokey in a research report on Friday, July 10th. They issued a "buy" rating and a $164.00 price objective for the company. Weiss Ratings reissued a "hold (c)" rating on shares of Houlihan Lokey in a research note on Friday, July 17th. BMO Capital Markets cut their target price on Houlihan Lokey from $160.00 to $145.00 and set an "outperform" rating for the company in a research note on Monday, August 3rd. Finally, Wolfe Research upgraded Houlihan Lokey from an "underperform" rating to a "peer perform" rating in a research report on Thursday, July 9th. Five analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $166.38.

Insider Activity

In related news, Chairman Scott L. Beiser sold 6,265 shares of the business's stock in a transaction on Thursday, May 21st. The shares were sold at an average price of $150.26, for a total transaction of $941,378.90. Following the completion of the transaction, the chairman owned 6,265 shares in the company, valued at approximately $941,378.90. The trade was a 50.00% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Company insiders own 22.53% of the company's stock.

Houlihan Lokey Stock Performance

HLI stock opened at $129.26 on Friday. The company's 50 day moving average price is $137.44 and its 200 day moving average price is $150.13. The firm has a market capitalization of $8.93 billion, a price-to-earnings ratio of 21.73, a PEG ratio of 1.42 and a beta of 0.95. Houlihan Lokey, Inc. has a fifty-two week low of $112.83 and a fifty-two week high of $211.78.

Houlihan Lokey (NYSE:HLI - Get Free Report) last issued its quarterly earnings results 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 return on equity of 20.20% and a net margin of 16.10%.The firm had revenue of $511.00 million during the quarter, compared to analysts' expectations of $602.38 million. During the same quarter in the prior year, the firm earned $2.14 EPS. The firm's revenue was down 15.6% compared to the same quarter last year. Equities analysts forecast that Houlihan Lokey, Inc. will post 7.13 EPS for the current fiscal year.

Houlihan Lokey Announces Dividend

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

Houlihan Lokey 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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