Houlihan Lokey, Inc. $HLI Shares Acquired by Comerica Bank

Key Points

• Comerica Bank increased its stake in Houlihan Lokey, Inc. by 71.5% in Q1, holding 44,397 shares valued at approximately $7.17 million.
• Houlihan Lokey reported $2.14 EPS for the most recent quarter, exceeding analysts' expectations of $1.69, along with a revenue growth of 17.8% year-over-year.
• The company declared a quarterly dividend of $0.60 per share, translating to an annualized yield of 1.2%, with a payout ratio of 40.40%.

Comerica Bank lifted its position in shares of Houlihan Lokey, Inc. (NYSE:HLI - Free Report) by 71.5% during the first quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 44,397 shares of the financial services provider's stock after purchasing an additional 18,509 shares during the period. Comerica Bank owned about 0.06% of Houlihan Lokey worth $7,170,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Elevation Point Wealth Partners LLC acquired a new stake in shares of Houlihan Lokey during the first quarter worth about $619,000. New York State Teachers Retirement System increased its position in shares of Houlihan Lokey by 1.1% during the first quarter. New York State Teachers Retirement System now owns 17,926 shares of the financial services provider's stock worth $2,895,000 after purchasing an additional 200 shares in the last quarter. OneDigital Investment Advisors LLC acquired a new stake in shares of Houlihan Lokey during the first quarter worth about $210,000. QRG Capital Management Inc. increased its position in shares of Houlihan Lokey by 9.7% during the first quarter. QRG Capital Management Inc. now owns 4,987 shares of the financial services provider's stock worth $805,000 after purchasing an additional 439 shares in the last quarter. Finally, PNC Financial Services Group Inc. increased its position in shares of Houlihan Lokey by 31.4% during the first quarter. PNC Financial Services Group Inc. now owns 16,955 shares of the financial services provider's stock worth $2,738,000 after purchasing an additional 4,056 shares in the last quarter. Institutional investors and hedge funds own 78.07% of the company's stock.

Houlihan Lokey Stock Down 0.7%

HLI traded down $1.34 on Friday, hitting $199.40. 585,482 shares of the company traded hands, compared to its average volume of 351,355. The company has a 50 day moving average of $191.01 and a 200-day moving average of $174.73. The stock has a market capitalization of $14.02 billion, a PE ratio of 33.57 and a beta of 0.86. Houlihan Lokey, Inc. has a 12-month low of $137.99 and a 12-month high of $201.63.

Houlihan Lokey (NYSE:HLI - Get Free Report) last released its earnings results on Tuesday, July 29th. The financial services provider reported $2.14 earnings per share (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 company had revenue of $605.35 million for the quarter, compared to analysts' expectations of $573.07 million. During the same quarter in the previous year, the firm posted $1.22 EPS. The firm's quarterly revenue was up 17.8% on a year-over-year basis. On average, research analysts anticipate that Houlihan Lokey, Inc. will post 5.98 EPS for the current year.

Houlihan Lokey Dividend Announcement

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

Insiders Place Their Bets

In other Houlihan Lokey news, Chairman Irwin Gold sold 5,000 shares of the business's stock in a transaction that occurred on Monday, June 30th. The stock was 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 is accessible through this hyperlink. Also, General Counsel Christopher M. Crain sold 500 shares of the business's stock in a transaction that occurred on Monday, June 2nd. The stock was sold at an average price of $173.02, for a total value of $86,510.00. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 45,500 shares of company stock worth $8,998,560. Company insiders own 22.83% of the company's stock.

Analysts Set New Price Targets

A number of analysts have recently commented on the company. Keefe, Bruyette & Woods upgraded Houlihan Lokey from a "hold" rating to a "moderate buy" rating and lifted their target price for the stock from $185.00 to $232.00 in a research report on Monday, July 14th. Wall Street Zen cut Houlihan Lokey from a "buy" rating to a "hold" rating in a research report on Saturday, August 2nd. Wells Fargo & Company boosted their price target on Houlihan Lokey from $185.00 to $209.00 and gave the company an "overweight" rating in a research report on Friday, July 11th. Finally, Morgan Stanley reaffirmed an "overweight" rating and set a $192.00 price objective (up from $159.00) on shares of Houlihan Lokey in a research note on Monday, June 23rd. Three investment analysts have rated the stock with a Buy rating and two have issued a Hold rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $206.40.

Houlihan Lokey Company 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.