Comerica Bank Trims Stake in Houlihan Lokey, Inc. $HLI

Key Points

• Comerica Bank cut its stake in Houlihan Lokey by 50.9% in the fourth quarter, selling 25,001 shares and leaving 24,154 shares valued at $4.207 million per its latest Form 13F filing.
• Several large institutions (e.g., Thrivent, Qube Research, Capital Research, Caisse de dépôt, Jennison) significantly increased holdings, leaving institutional investors with 78.07% of the stock.
• Analysts are mixed but the consensus is a “Moderate Buy” with a target of $197.71; meanwhile insiders disclosed sales (GC sold 500 shares under a 10b5‑1 plan and a director sold 5,000 shares) and insiders own 22.83% of the company.

Comerica Bank decreased its stake in shares of Houlihan Lokey, Inc. (NYSE:HLI - Free Report) by 50.9% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 24,154 shares of the financial services provider's stock after selling 25,001 shares during the period. Comerica Bank's holdings in Houlihan Lokey were worth $4,207,000 at the end of the most recent reporting period.

Other institutional investors also recently made changes to their positions in the company. Thrivent Financial for Lutherans boosted its stake in shares of Houlihan Lokey by 75.6% during the third quarter. Thrivent Financial for Lutherans now owns 713,494 shares of the financial services provider's stock valued at $146,495,000 after acquiring an additional 307,214 shares during the last quarter. Qube Research & Technologies Ltd raised its stake in Houlihan Lokey by 153.8% in the 2nd quarter. Qube Research & Technologies Ltd now owns 274,387 shares of the financial services provider's stock valued at $49,376,000 after purchasing an additional 166,285 shares during the last quarter. Capital Research Global Investors raised its stake in Houlihan Lokey by 19.7% in the 3rd quarter. Capital Research Global Investors now owns 956,441 shares of the financial services provider's stock valued at $196,376,000 after purchasing an additional 157,605 shares during the last quarter. Caisse de depot et placement du Quebec lifted its holdings in Houlihan Lokey by 411.1% in the 3rd quarter. Caisse de depot et placement du Quebec now owns 170,617 shares of the financial services provider's stock valued at $35,031,000 after purchasing an additional 137,237 shares in the last quarter. Finally, Jennison Associates LLC lifted its holdings in Houlihan Lokey by 25.4% in the 3rd quarter. Jennison Associates LLC now owns 589,093 shares of the financial services provider's stock valued at $120,953,000 after purchasing an additional 119,440 shares in the last quarter. 78.07% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently weighed in on the stock. BMO Capital Markets boosted their price objective on shares of Houlihan Lokey from $209.00 to $211.00 and gave the company an "outperform" rating in a research report on Thursday, January 29th. Weiss Ratings lowered shares of Houlihan Lokey from a "hold (c+)" rating to a "hold (c)" rating in a research report on Tuesday, April 21st. UBS Group cut their price target on Houlihan Lokey from $196.00 to $163.00 and set a "neutral" rating for the company in a report on Thursday, March 12th. Keefe, Bruyette & Woods cut their price target on Houlihan Lokey from $218.00 to $214.00 and set an "outperform" rating for the company in a report on Thursday, January 29th. Finally, The Goldman Sachs Group reduced their price target on Houlihan Lokey from $210.00 to $184.00 and set a "buy" rating on the stock in a research note on Wednesday, April 1st. Five research analysts have rated the stock with a Buy rating and four have given a Hold rating to the company's stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $197.71.

Insider Buying and Selling at Houlihan Lokey

In related news, General Counsel Christopher M. Crain sold 500 shares of Houlihan Lokey stock in a transaction on Wednesday, April 1st. The stock was sold at an average price of $143.40, for a total value of $71,700.00. Following the transaction, the general counsel owned 500 shares in the company, valued at approximately $71,700. This trade represents a 50.00% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Robert A. Schriesheim sold 5,000 shares of the business's stock in a transaction dated Friday, February 6th. The shares were sold at an average price of $170.86, for a total value of $854,300.00. Following the sale, the director directly owned 27,982 shares of the company's stock, valued at approximately $4,781,004.52. This trade represents a 15.16% decrease in their position. The disclosure for this sale is available in the SEC filing. Company insiders own 22.83% of the company's stock.

Houlihan Lokey Stock Performance

Houlihan Lokey stock opened at $153.28 on Friday. Houlihan Lokey, Inc. has a 1 year low of $134.41 and a 1 year high of $211.78. The firm has a 50 day moving average price of $151.46 and a 200 day moving average price of $169.87. The company has a market cap of $10.70 billion, a price-to-earnings ratio of 23.55, a PEG ratio of 1.09 and a beta of 0.99.

Houlihan Lokey (NYSE:HLI - Get Free Report) last posted its quarterly earnings results on Thursday, January 29th. The financial services provider reported $1.94 earnings per share for the quarter, topping analysts' consensus estimates of $1.85 by $0.09. Houlihan Lokey had a net margin of 16.91% and a return on equity of 24.46%. During the same quarter in the prior year, the company earned $1.64 EPS. The business's revenue was up 13.0% on a year-over-year basis. Sell-side analysts predict that Houlihan Lokey, Inc. will post 7.73 EPS for the current year.

Houlihan Lokey Company Profile

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.

Want to see what other hedge funds are holding HLI? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Houlihan Lokey, Inc. (NYSE:HLI - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.