Congress Asset Management Co. Takes $81.42 Million Position in Houlihan Lokey, Inc. (NYSE:HLI)

Congress Asset Management Co. bought a new position in shares of Houlihan Lokey, Inc. (NYSE:HLI - Free Report) during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor bought 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 and Exchange Commission.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Private Trust Co. NA bought a new stake in Houlihan Lokey during the fourth quarter worth about $29,000. Golden State Wealth Management LLC bought a new stake in shares of Houlihan Lokey in the 4th quarter worth approximately $53,000. Thurston Springer Miller Herd & Titak Inc. bought a new stake in shares of Houlihan Lokey in the 1st quarter worth approximately $54,000. Versant Capital Management Inc grew its stake in shares of 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 buying an additional 320 shares during the last quarter. Finally, VisionPoint Advisory Group LLC bought a new position in Houlihan Lokey during the 4th quarter valued at approximately $62,000. Hedge funds and other institutional investors own 78.07% of the company's stock.

Insider Transactions at Houlihan Lokey

In related news, General Counsel Christopher M. Crain sold 500 shares of the firm's stock in a transaction on Monday, June 2nd. The shares were sold at an average price of $173.02, for a total transaction of $86,510.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Chairman Scott L. Beiser sold 8,008 shares of Houlihan Lokey stock in a transaction dated Monday, May 19th. The shares were sold at an average price of $178.71, for a total value of $1,431,109.68. The disclosure for this sale can be found here. Company insiders own 23.68% of the company's stock.

Houlihan Lokey Price Performance

Shares of Houlihan Lokey stock traded down $1.84 during trading hours on Tuesday, reaching $174.10. The company's stock had a trading volume of 352,497 shares, compared to its average volume of 351,573. The firm has a 50 day moving average price of $165.22 and a 200-day moving average price of $170.97. Houlihan Lokey, Inc. has a one year low of $127.14 and a one year high of $192.10. The stock has a market cap of $12.15 billion, a P/E ratio of 33.23 and a beta of 0.83.

Houlihan Lokey (NYSE:HLI - Get Free Report) last released its earnings results on Wednesday, May 7th. The financial services provider reported $1.96 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.61 by $0.35. The firm had revenue of $666.42 million during 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% on a year-over-year basis. During the same quarter last year, the business earned $1.27 EPS. As a group, sell-side analysts forecast that Houlihan Lokey, Inc. will post 5.98 EPS for the current fiscal year.

Houlihan Lokey Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Sunday, June 15th. Stockholders of record on Monday, June 2nd will be paid a dividend of $0.60 per share. This is a positive change from Houlihan Lokey's previous quarterly dividend of $0.57. This represents a $2.40 dividend on an annualized basis and a dividend yield of 1.38%. The ex-dividend date of this dividend is Monday, June 2nd. Houlihan Lokey's payout ratio is currently 41.24%.

Analysts Set New Price Targets

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

About Houlihan Lokey

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.