Barlow Wealth Partners Inc. increased its holdings in shares of Houlihan Lokey, Inc. (NYSE:HLI - Free Report) by 1.1% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 203,814 shares of the financial services provider's stock after buying an additional 2,164 shares during the period. Houlihan Lokey accounts for about 4.2% of Barlow Wealth Partners Inc.'s investment portfolio, making the stock its 5th biggest holding. Barlow Wealth Partners Inc. owned approximately 0.29% of Houlihan Lokey worth $32,461,000 at the end of the most recent quarter.
A number of other institutional investors and hedge funds have also modified their holdings of HLI. Elevation Point Wealth Partners LLC bought a new stake in Houlihan Lokey in the first quarter valued at approximately $619,000. QRG Capital Management Inc. increased its stake in Houlihan Lokey by 9.7% in the first quarter. QRG Capital Management Inc. now owns 4,987 shares of the financial services provider's stock valued at $805,000 after purchasing an additional 439 shares in the last quarter. Jones Financial Companies Lllp increased its stake in Houlihan Lokey by 80.9% in the fourth quarter. Jones Financial Companies Lllp now owns 5,638 shares of the financial services provider's stock valued at $979,000 after purchasing an additional 2,521 shares in the last quarter. GAMMA Investing LLC increased its stake in Houlihan Lokey by 145.7% in the first quarter. GAMMA Investing LLC now owns 4,250 shares of the financial services provider's stock valued at $686,000 after purchasing an additional 2,520 shares in the last quarter. Finally, Sowell Financial Services LLC bought a new stake in Houlihan Lokey in the first quarter valued at approximately $313,000. 78.07% of the stock is owned by institutional investors.
Insider Buying and Selling
In related news, Chairman Scott L. Beiser sold 8,008 shares of the stock in a transaction on Monday, May 19th. The shares were sold at an average price of $178.71, for a total transaction of $1,431,109.68. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, General Counsel Christopher M. Crain sold 500 shares of the stock in a transaction on 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. Over the last 90 days, insiders sold 13,508 shares of company stock worth $2,431,670. 23.68% of the stock is owned by insiders.
Analysts Set New Price Targets
HLI has been the subject of several recent analyst reports. Wells Fargo & Company upped their target price on shares of Houlihan Lokey from $170.00 to $185.00 and gave the company an "overweight" rating in a research note on Thursday, May 8th. Morgan Stanley reaffirmed an "overweight" rating and issued a $192.00 target price (up previously from $159.00) on shares of Houlihan Lokey in a research note on Monday, June 23rd. Wall Street Zen downgraded shares of Houlihan Lokey from a "buy" rating to a "hold" rating in a research note on Friday, June 27th. Finally, Keefe, Bruyette & Woods upped their target price on shares of Houlihan Lokey from $183.00 to $185.00 and gave the company a "market perform" rating in a research note on Monday, May 12th. Four research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company's stock. According to data from MarketBeat, Houlihan Lokey has a consensus rating of "Hold" and an average price target of $192.20.
Get Our Latest Report on HLI
Houlihan Lokey Price Performance
Shares of Houlihan Lokey stock traded up $2.04 on Friday, hitting $185.51. The company had a trading volume of 265,347 shares, compared to its average volume of 357,228. The firm has a market capitalization of $12.95 billion, a P/E ratio of 31.87 and a beta of 0.83. Houlihan Lokey, Inc. has a twelve month low of $134.19 and a twelve month high of $192.10. The stock has a 50-day moving average of $174.61 and a 200-day moving average of $170.32.
Houlihan Lokey (NYSE:HLI - Get Free Report) last released its quarterly earnings results on Wednesday, May 7th. The financial services provider reported $1.96 earnings per share for the quarter, beating the consensus estimate of $1.61 by $0.35. The company had revenue of $666.42 million during the quarter, compared to analysts' expectations of $628.25 million. Houlihan Lokey had a net margin of 16.73% and a return on equity of 21.61%. The business's quarterly revenue was up 28.0% compared to the same quarter last year. During the same quarter in the prior year, the company earned $1.27 earnings per share. Equities analysts predict that Houlihan Lokey, Inc. will post 5.98 EPS for the current year.
Houlihan Lokey Increases Dividend
The firm also recently announced a quarterly dividend, which was paid on Sunday, June 15th. Investors of record on Monday, June 2nd were issued a dividend of $0.60 per share. This is a boost from Houlihan Lokey's previous quarterly dividend of $0.57. The ex-dividend date was Monday, June 2nd. This represents a $2.40 annualized dividend and a yield of 1.29%. Houlihan Lokey's dividend payout ratio is presently 41.24%.
Houlihan Lokey Company Profile
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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.
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