California State Teachers Retirement System Purchases 12,994 Shares of Houlihan Lokey, Inc. $HLI

Key Points

• California State Teachers Retirement System increased its Houlihan Lokey stake by 25.3%, acquiring 12,994 shares to own 64,370 shares valued at approximately $9.25 million. Institutional investors hold 78.07% of the company.
• Analysts maintain a “Moderate Buy” consensus with an average price target of $166.38, despite several recent target reductions. Five analysts rate the stock Buy and five rate it Hold.
• Houlihan Lokey’s latest quarter fell short of expectations, with EPS of $1.35 versus $1.64 expected and revenue down 15.6% year over year to $511 million; the company declared a quarterly dividend of $0.70 per share, yielding 2.2% annually.

California State Teachers Retirement System boosted its position in shares of Houlihan Lokey, Inc. (NYSE:HLI - Free Report) by 25.3% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 64,370 shares of the financial services provider's stock after acquiring an additional 12,994 shares during the period. California State Teachers Retirement System owned 0.09% of Houlihan Lokey worth $9,245,000 at the end of the most recent quarter.

A number of other hedge funds also recently bought and sold shares of the company. Robinhood Asset Management LLC acquired a new stake in shares of Houlihan Lokey in the fourth quarter worth $6,862,000. Pier Capital LLC raised its stake in Houlihan Lokey by 62.3% during the 4th quarter. Pier Capital LLC now owns 44,000 shares of the financial services provider's stock valued at $7,664,000 after purchasing an additional 16,894 shares during the last quarter. M&T Bank Corp acquired a new position in Houlihan Lokey during the 4th quarter valued at $4,467,000. Fideuram Intesa Sanpaolo Private Banking S.P.A. bought a new stake in Houlihan Lokey in the 4th quarter valued at $1,942,000. Finally, Fenimore Asset Management Inc boosted its holdings in Houlihan Lokey by 16.2% in the 4th quarter. Fenimore Asset Management Inc now owns 123,672 shares of the financial services provider's stock valued at $21,542,000 after purchasing an additional 17,199 shares during the period. 78.07% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several equities analysts recently issued reports on HLI shares. Weiss Ratings restated a "hold (c)" rating on shares of Houlihan Lokey in a research note on Friday, July 17th. Keefe, Bruyette & Woods reduced their price objective on Houlihan Lokey from $160.00 to $153.00 and set an "outperform" rating for the company in a research report on Thursday, July 30th. Morgan Stanley decreased their price objective on Houlihan Lokey from $187.00 to $177.00 and set an "overweight" rating on the stock in a report on Thursday, July 30th. Bank of America began coverage on Houlihan Lokey in a research report on Friday, July 10th. They set a "buy" rating and a $164.00 price objective on the stock. Finally, The Goldman Sachs Group cut their target price on Houlihan Lokey from $171.00 to $148.00 and set a "buy" rating for the company in a research note on Thursday. Five research analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company. According to MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $166.38.

Insider Transactions at Houlihan Lokey

In other Houlihan Lokey news, Chairman Scott L. Beiser sold 6,265 shares of the stock in a transaction on Thursday, May 21st. The stock was sold at an average price of $150.26, for a total value of $941,378.90. Following the transaction, the chairman directly owned 6,265 shares in the company, valued at approximately $941,378.90. This trade represents a 50.00% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 22.53% of the company's stock.

Houlihan Lokey Stock Up 0.2%

NYSE:HLI opened at $125.78 on Tuesday. The firm has a market cap of $8.69 billion, a PE ratio of 21.14, a price-to-earnings-growth ratio of 1.12 and a beta of 0.95. Houlihan Lokey, Inc. has a 12 month low of $112.83 and a 12 month high of $211.78. The company's 50-day moving average price is $138.88 and its two-hundred day moving average price is $151.53.

Houlihan Lokey (NYSE:HLI - Get Free Report) last announced its earnings results on Wednesday, July 29th. The financial services provider reported $1.35 EPS for the quarter, missing the consensus estimate of $1.64 by ($0.29). Houlihan Lokey had a return on equity of 20.20% and a net margin of 16.10%.The business had revenue of $511.00 million during the quarter, compared to analyst estimates of $602.38 million. During the same period in the previous year, the firm earned $2.14 earnings per share. The firm's revenue was down 15.6% compared to the same quarter last year. On average, research analysts expect that Houlihan Lokey, Inc. will post 7.55 EPS for the current fiscal year.

Houlihan Lokey Dividend Announcement

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

About Houlihan Lokey

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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