Houlihan Lokey, Inc. $HLI Shares Bought by Bayforest Capital Ltd

Key Points

• Bayforest Capital Ltd increased its stake in Houlihan Lokey, Inc. by 141.9% in the 1st quarter, owning 6,115 shares worth approximately $988,000.
• Analysts have raised their price targets for Houlihan Lokey, with Wells Fargo setting a new target of $209.00 and Morgan Stanley at $213.00, both maintaining an "overweight" rating.
• Houlihan Lokey declared a quarterly dividend of $0.60, translating to an annualized yield of 1.2%, to be paid on September 15th.

Bayforest Capital Ltd grew its stake in shares of Houlihan Lokey, Inc. (NYSE:HLI - Free Report) by 141.9% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 6,115 shares of the financial services provider's stock after acquiring an additional 3,587 shares during the quarter. Bayforest Capital Ltd's holdings in Houlihan Lokey were worth $988,000 as of its most recent SEC filing.

Other hedge funds have also recently modified their holdings of the company. Bogart Wealth LLC increased its holdings in shares of Houlihan Lokey by 111.1% during the first quarter. Bogart Wealth LLC now owns 152 shares of the financial services provider's stock valued at $25,000 after acquiring an additional 80 shares in the last quarter. Motco acquired a new position in shares of Houlihan Lokey during the first quarter valued at about $29,000. Brooklyn Investment Group acquired a new position in shares of Houlihan Lokey during the first quarter valued at about $33,000. TCTC Holdings LLC increased its holdings in shares of Houlihan Lokey by 103.5% during the first quarter. TCTC Holdings LLC now owns 232 shares of the financial services provider's stock valued at $37,000 after acquiring an additional 118 shares in the last quarter. Finally, Caitong International Asset Management Co. Ltd increased its holdings in shares of Houlihan Lokey by 3,714.3% during the first quarter. Caitong International Asset Management Co. Ltd now owns 267 shares of the financial services provider's stock valued at $43,000 after acquiring an additional 260 shares in the last quarter. Institutional investors and hedge funds own 78.07% of the company's stock.

Houlihan Lokey Stock Performance

Shares of NYSE HLI traded down $2.91 during trading on Friday, hitting $205.24. 342,286 shares of the company were exchanged, compared to its average volume of 388,850. Houlihan Lokey, Inc. has a 12-month low of $137.99 and a 12-month high of $208.50. The company has a fifty day moving average price of $194.45 and a 200-day moving average price of $176.33. The firm has a market capitalization of $14.43 billion, a PE ratio of 34.55 and a beta of 0.86.

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

Houlihan Lokey Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, September 15th. Investors of record on Tuesday, September 2nd will be given a dividend of $0.60 per share. This represents a $2.40 dividend on an annualized basis and a dividend yield of 1.2%. The ex-dividend date of this dividend is Tuesday, September 2nd. Houlihan Lokey's dividend payout ratio (DPR) is presently 40.40%.

Wall Street Analysts Forecast Growth

Several brokerages recently weighed in on HLI. Wells Fargo & Company increased their price target on shares of Houlihan Lokey from $185.00 to $209.00 and gave the stock an "overweight" rating in a report on Friday, July 11th. Morgan Stanley increased their price target on shares of Houlihan Lokey from $192.00 to $213.00 and gave the stock an "overweight" rating in a report on Monday, September 8th. Wall Street Zen downgraded shares of Houlihan Lokey from a "buy" rating to a "hold" rating in a report on Saturday, August 2nd. Finally, Keefe, Bruyette & Woods upgraded shares of Houlihan Lokey from a "hold" rating to a "moderate buy" rating and increased their price target for the stock from $185.00 to $232.00 in a report on Monday, July 14th. Three investment analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company. According to data from MarketBeat.com, Houlihan Lokey has an average rating of "Moderate Buy" and a consensus target price of $210.60.

Insider Buying and Selling

In related news, Chairman Paul Eric Siegert sold 40,000 shares of the firm's stock in a transaction dated Wednesday, August 27th. The stock was sold at an average price of $199.95, for a total transaction of $7,998,000.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Chairman Irwin Gold sold 5,000 shares of the firm's stock in a transaction dated Monday, June 30th. The stock was sold at an average price of $182.81, for a total value of $914,050.00. The disclosure for this sale can be found here. In the last ninety days, insiders sold 45,500 shares of company stock valued at $9,010,160. 22.83% of the stock is currently owned by insiders.

Houlihan Lokey 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.