Cresset Asset Management LLC Sells 5,161 Shares of Houlihan Lokey, Inc. $HLI

Key Points

• Cresset Asset Management LLC has decreased its stake in Houlihan Lokey, Inc. by 38.8%, now owning 8,156 shares valued at approximately $1.32 million after selling 5,161 shares.
• Houlihan Lokey reported a quarterly EPS of $2.14, exceeding the consensus estimate by $0.45, with a revenue of $605.35 million, a 17.8% increase year-over-year.
• The company declared a quarterly dividend of $0.60, with an ex-dividend date of September 2, indicating a yield of 1.2% and a payout ratio of 40.40%.

Cresset Asset Management LLC reduced its stake in shares of Houlihan Lokey, Inc. (NYSE:HLI - Free Report) by 38.8% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 8,156 shares of the financial services provider's stock after selling 5,161 shares during the quarter. Cresset Asset Management LLC's holdings in Houlihan Lokey were worth $1,317,000 at the end of the most recent quarter.

Other hedge funds have also modified their holdings of the company. Elevation Point Wealth Partners LLC bought a new stake in shares of Houlihan Lokey during the first quarter valued at approximately $619,000. New York State Teachers Retirement System grew its stake 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 valued at $2,895,000 after purchasing an additional 200 shares during the last quarter. OneDigital Investment Advisors LLC bought a new stake in shares of Houlihan Lokey during the first quarter valued at approximately $210,000. QRG Capital Management Inc. grew its stake 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 valued at $805,000 after purchasing an additional 439 shares during the last quarter. Finally, PNC Financial Services Group Inc. grew its stake 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 valued at $2,738,000 after purchasing an additional 4,056 shares during the last quarter. 78.07% of the stock is owned by institutional investors.

Houlihan Lokey Stock Performance

HLI opened at $193.0160 on Thursday. The firm's fifty day moving average is $187.48 and its two-hundred day moving average is $173.99. The firm has a market cap of $13.57 billion, a PE ratio of 32.49 and a beta of 0.86. Houlihan Lokey, Inc. has a twelve month low of $137.99 and a twelve month high of $198.78.

Houlihan Lokey (NYSE:HLI - Get Free Report) last announced its quarterly earnings results on Tuesday, July 29th. The financial services provider reported $2.14 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.69 by $0.45. Houlihan Lokey had a net margin of 16.46% and a return on equity of 23.75%. The company had revenue of $605.35 million during the quarter, compared to analyst estimates of $573.07 million. During the same quarter in the previous year, the business earned $1.22 EPS. The firm's revenue was up 17.8% on a year-over-year basis. Equities analysts forecast that Houlihan Lokey, Inc. will post 5.98 EPS for the current fiscal year.

Houlihan Lokey Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, September 15th. Investors of record on Tuesday, September 2nd will be given a $0.60 dividend. The ex-dividend date is Tuesday, September 2nd. This represents a $2.40 dividend on an annualized basis and a dividend yield of 1.2%. Houlihan Lokey's dividend payout ratio is currently 40.40%.

Insiders Place Their Bets

In related news, Chairman Irwin Gold sold 5,000 shares of the company's stock in a transaction on Monday, June 30th. The shares were sold at an average price of $182.81, for a total value of $914,050.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, General Counsel Christopher M. Crain sold 500 shares of the company'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 disclosure for this sale can be found here. 22.83% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several analysts have recently commented on HLI shares. Keefe, Bruyette & Woods raised shares of Houlihan Lokey from a "hold" rating to a "moderate buy" rating and increased their price target for the company from $185.00 to $232.00 in a research note on Monday, July 14th. Wall Street Zen lowered shares of Houlihan Lokey from a "buy" rating to a "hold" rating in a report on Saturday, August 2nd. Wells Fargo & Company increased their price objective 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. Finally, Morgan Stanley restated an "overweight" rating and issued a $192.00 price objective (up from $159.00) on shares of Houlihan Lokey in a report on Monday, June 23rd. Three research analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. According to MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average target price 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.

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