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Bank Julius Baer & Co. Ltd Zurich Reduces Holdings in Houlihan Lokey, Inc. (NYSE:HLI)

Houlihan Lokey logo with Finance background

Bank Julius Baer & Co. Ltd Zurich lowered its position in shares of Houlihan Lokey, Inc. (NYSE:HLI - Free Report) by 57.7% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 42,496 shares of the financial services provider's stock after selling 58,019 shares during the quarter. Bank Julius Baer & Co. Ltd Zurich owned about 0.06% of Houlihan Lokey worth $6,808,000 as of its most recent SEC filing.

A number of other institutional investors have also bought and sold shares of the company. Virtu Financial LLC bought a new stake in shares of Houlihan Lokey in the 4th quarter valued at $371,000. American Century Companies Inc. grew its holdings in Houlihan Lokey by 56.6% in the fourth quarter. American Century Companies Inc. now owns 24,070 shares of the financial services provider's stock worth $4,180,000 after purchasing an additional 8,695 shares during the period. KLP Kapitalforvaltning AS bought a new stake in Houlihan Lokey in the fourth quarter valued at $2,188,000. LPL Financial LLC increased its stake in Houlihan Lokey by 50.9% in the fourth quarter. LPL Financial LLC now owns 84,159 shares of the financial services provider's stock valued at $14,615,000 after purchasing an additional 28,398 shares in the last quarter. Finally, Vanguard Group Inc. raised its holdings in shares of Houlihan Lokey by 1.9% during the fourth quarter. Vanguard Group Inc. now owns 5,265,574 shares of the financial services provider's stock valued at $914,420,000 after purchasing an additional 98,495 shares during the period. Institutional investors own 78.07% of the company's stock.

Houlihan Lokey Stock Performance

HLI traded down $1.36 during midday trading on Friday, reaching $196.01. 393,857 shares of the company were exchanged, compared to its average volume of 395,889. The company has a market cap of $13.68 billion, a price-to-earnings ratio of 33.68 and a beta of 0.83. Houlihan Lokey, Inc. has a one year low of $137.99 and a one year high of $198.78. The company's fifty day moving average price is $181.39 and its 200 day moving average price is $172.35.

Houlihan Lokey (NYSE:HLI - Get Free Report) last announced its quarterly earnings results on Wednesday, May 7th. The financial services provider reported $1.96 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.61 by $0.35. The business had revenue of $666.42 million during the quarter, compared to the consensus estimate of $628.25 million. Houlihan Lokey had a return on equity of 21.61% and a net margin of 16.73%. Houlihan Lokey's revenue was up 28.0% compared to the same quarter last year. During the same quarter in the prior year, the company posted $1.27 earnings per share. As a group, sell-side analysts anticipate that Houlihan Lokey, Inc. will post 5.98 earnings per share for the current fiscal year.

Houlihan Lokey Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Sunday, June 15th. Stockholders of record on Monday, June 2nd were issued a $0.60 dividend. The ex-dividend date of this dividend was Monday, June 2nd. This represents a $2.40 annualized dividend and a dividend yield of 1.22%. This is an increase from Houlihan Lokey's previous quarterly dividend of $0.57. Houlihan Lokey's dividend payout ratio is currently 41.24%.

Insider Activity at Houlihan Lokey

In related news, Chairman Irwin Gold sold 5,000 shares of the business's stock in a transaction dated Monday, June 30th. The shares were sold at an average price of $182.81, for a total transaction of $914,050.00. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, General Counsel Christopher M. Crain sold 500 shares of the company's stock in a transaction dated Monday, June 2nd. The stock was sold at an average price of $173.02, for a total transaction of $86,510.00. The disclosure for this sale can be found here. Insiders have sold 13,508 shares of company stock valued at $2,431,670 over the last ninety days. Corporate insiders own 23.68% of the company's stock.

Wall Street Analysts Forecast Growth

A number of analysts recently commented on the company. Keefe, Bruyette & Woods raised Houlihan Lokey from a "hold" rating to a "moderate buy" rating and boosted their target price for the company from $185.00 to $232.00 in a research report on Monday, July 14th. Wells Fargo & Company raised their price objective on Houlihan Lokey from $185.00 to $209.00 and gave the company an "overweight" rating in a research note on Friday, July 11th. Morgan Stanley restated an "overweight" rating and set a $192.00 price objective (up previously from $159.00) on shares of Houlihan Lokey in a report on Monday, June 23rd. Finally, Wall Street Zen upgraded Houlihan Lokey from a "hold" rating to a "buy" rating in a report on Saturday, July 12th. Two investment analysts have rated the stock with a hold rating and four have given a buy rating to the company's stock. According to data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average price target of $206.40.

Read Our Latest Research Report on Houlihan Lokey

About Houlihan Lokey

(Free Report)

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.

See Also

Institutional Ownership by Quarter for Houlihan Lokey (NYSE:HLI)

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