Charles Schwab Investment Management Inc. reduced its holdings in shares of Houlihan Lokey, Inc. (NYSE:HLI - Free Report) by 0.7% during the 1st quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 598,767 shares of the financial services provider's stock after selling 4,189 shares during the period. Charles Schwab Investment Management Inc. owned about 0.85% of Houlihan Lokey worth $96,701,000 at the end of the most recent reporting period.
Other institutional investors have also made changes to their positions in the company. Vanguard Group Inc. boosted its position in Houlihan Lokey by 0.8% in the first quarter. Vanguard Group Inc. now owns 5,306,604 shares of the financial services provider's stock valued at $857,017,000 after buying an additional 41,030 shares in the last quarter. Intrust Bank NA increased its stake in Houlihan Lokey by 11.8% in the first quarter. Intrust Bank NA now owns 5,112 shares of the financial services provider's stock valued at $826,000 after purchasing an additional 540 shares in the last quarter. Westfield Capital Management Co. LP bought a new stake in Houlihan Lokey in the first quarter valued at approximately $46,236,000. Bank of Nova Scotia bought a new stake in Houlihan Lokey in the first quarter valued at approximately $743,000. Finally, R Squared Ltd increased its stake in Houlihan Lokey by 13.9% in the first quarter. R Squared Ltd now owns 1,841 shares of the financial services provider's stock valued at $297,000 after purchasing an additional 224 shares in the last quarter. 78.07% of the stock is currently owned by institutional investors and hedge funds.
Wall Street Analysts Forecast Growth
A number of equities analysts have issued reports on the company. Keefe, Bruyette & Woods upgraded Houlihan Lokey from a "hold" rating to a "moderate buy" rating and increased their target price for the stock from $185.00 to $232.00 in a report on Monday, July 14th. Wall Street Zen lowered shares of Houlihan Lokey from a "buy" rating to a "hold" rating in a research report on Saturday, August 2nd. Morgan Stanley reiterated an "overweight" rating and issued a $192.00 price objective (up previously from $159.00) on shares of Houlihan Lokey in a research note on Monday, June 23rd. Finally, Wells Fargo & Company raised their target price on shares of Houlihan Lokey from $185.00 to $209.00 and gave the company an "overweight" rating in a report on Friday, July 11th. Three analysts have rated the stock with a hold rating and three have given a buy rating to the company's stock. Based on data from MarketBeat.com, Houlihan Lokey has an average rating of "Moderate Buy" and an average price target of $206.40.
View Our Latest Stock Analysis on Houlihan Lokey
Insider Buying and Selling at Houlihan Lokey
In other Houlihan Lokey news, Chairman Scott L. Beiser sold 8,008 shares of the business's 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 document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, General Counsel Christopher M. Crain sold 500 shares of the company's 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. In the last 90 days, insiders sold 13,508 shares of company stock worth $2,431,670. 22.83% of the stock is owned by corporate insiders.
Houlihan Lokey Trading Down 1.8%
NYSE:HLI traded down $3.48 during mid-day trading on Friday, hitting $190.67. 294,742 shares of the company's stock were exchanged, compared to its average volume of 404,044. The company has a 50 day simple moving average of $186.18 and a 200-day simple moving average of $173.71. Houlihan Lokey, Inc. has a fifty-two week low of $137.99 and a fifty-two week high of $198.78. The firm has a market capitalization of $13.31 billion, a P/E ratio of 32.10 and a beta of 0.86.
Houlihan Lokey (NYSE:HLI - Get Free Report) last issued its quarterly earnings results on Tuesday, July 29th. The financial services provider reported $2.14 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.69 by $0.45. Houlihan Lokey had a net margin of 16.46% and a return on equity of 23.75%. The firm had revenue of $605.35 million for the quarter, compared to the consensus estimate of $573.07 million. During the same quarter in the previous year, the company earned $1.22 EPS. The company's revenue for the quarter was up 17.8% on a year-over-year basis. As a group, analysts expect that Houlihan Lokey, Inc. will post 5.98 earnings per share for the current year.
Houlihan Lokey Announces Dividend
The firm also recently declared a quarterly dividend, which will be paid on Monday, September 15th. Shareholders of record on Tuesday, September 2nd will be paid a dividend of $0.60 per share. This represents a $2.40 dividend on an annualized basis and a yield of 1.3%. The ex-dividend date is Tuesday, September 2nd. Houlihan Lokey's payout ratio is 40.40%.
Houlihan Lokey Profile
(
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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