Congress Asset Management Co. Purchases New Holdings in Houlihan Lokey, Inc. (NYSE:HLI)

Congress Asset Management Co. acquired a new position in Houlihan Lokey, Inc. (NYSE:HLI - Free Report) in the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor acquired 504,149 shares of the financial services provider's stock, valued at approximately $81,420,000. Congress Asset Management Co. owned 0.72% of Houlihan Lokey as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also modified their holdings of the company. Private Trust Co. NA purchased a new position in shares of Houlihan Lokey during the fourth quarter worth about $29,000. Golden State Wealth Management LLC purchased a new stake in shares of Houlihan Lokey during the 4th quarter valued at $53,000. Thurston Springer Miller Herd & Titak Inc. purchased a new stake in Houlihan Lokey during the 1st quarter worth $54,000. VisionPoint Advisory Group LLC purchased a new stake in Houlihan Lokey during the 4th quarter worth $62,000. Finally, Versant Capital Management Inc grew its position in Houlihan Lokey by 744.2% in the 1st quarter. Versant Capital Management Inc now owns 363 shares of the financial services provider's stock worth $59,000 after purchasing an additional 320 shares during the last quarter. 78.07% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of analysts recently weighed in on the stock. Wall Street Zen upgraded shares of Houlihan Lokey from a "hold" rating to a "buy" rating in a report on Thursday, May 22nd. Keefe, Bruyette & Woods raised their price target on shares of Houlihan Lokey from $183.00 to $185.00 and gave the company a "market perform" rating in a report on Monday, May 12th. Wells Fargo & Company lifted their target price on shares of Houlihan Lokey from $170.00 to $185.00 and gave the stock an "overweight" rating in a report on Thursday, May 8th. Finally, Morgan Stanley dropped their price objective on shares of Houlihan Lokey from $190.00 to $156.00 and set an "overweight" rating on the stock in a report on Monday, April 7th. Three research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company's stock. According to data from MarketBeat, the company has an average rating of "Moderate Buy" and a consensus target price of $185.00.

Houlihan Lokey Stock Up 1.2%

Shares of HLI stock traded up $2.09 on Friday, reaching $176.99. The stock had a trading volume of 278,947 shares, compared to its average volume of 351,402. The firm's 50-day moving average is $164.61 and its two-hundred day moving average is $171.04. The firm has a market capitalization of $12.35 billion, a price-to-earnings ratio of 33.78 and a beta of 0.83. Houlihan Lokey, Inc. has a 12 month low of $127.14 and a 12 month high of $192.10.

Houlihan Lokey (NYSE:HLI - Get Free Report) last announced its earnings results on Wednesday, May 7th. The financial services provider reported $1.96 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.61 by $0.35. The firm had revenue of $666.42 million for the quarter, compared to analyst estimates of $628.25 million. Houlihan Lokey had a net margin of 16.00% and a return on equity of 20.04%. The business's revenue was up 28.0% compared to the same quarter last year. During the same quarter in the prior year, the business posted $1.27 EPS. On average, sell-side analysts forecast that Houlihan Lokey, Inc. will post 5.98 earnings per share for the current fiscal year.

Houlihan Lokey Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Sunday, June 15th. Investors of record on Monday, June 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 1.36%. The ex-dividend date of this dividend is Monday, June 2nd. This is an increase from Houlihan Lokey's previous quarterly dividend of $0.57. Houlihan Lokey's dividend payout ratio (DPR) is currently 41.24%.

Insider Buying and Selling

In other Houlihan Lokey news, General Counsel Christopher M. Crain sold 500 shares of the business's stock in a transaction dated Monday, June 2nd. The shares were sold at an average price of $173.02, for a total value of $86,510.00. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Chairman Scott L. Beiser sold 8,008 shares of the company's stock in a transaction that occurred 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 disclosure for this sale can be found here. 23.68% of the stock is owned by insiders.

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.