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DAVENPORT & Co LLC Sells 4,776 Shares of Houlihan Lokey, Inc. $HLI

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Key Points

  • DAVENPORT & Co LLC sold 4,776 shares of Houlihan Lokey, reducing its stake by 24.5%, bringing its total holdings to 14,742 shares, valued at approximately $2.65 million.
  • The company reported earnings per share of $2.14 for the last quarter, exceeding estimates and showing a 17.8% year-over-year revenue increase.
  • Insider trades included the Chairman selling 6,811 shares for about $1.38 million, contributing to a total of 47,311 shares sold by insiders in the last quarter.
  • Five stocks to consider instead of Houlihan Lokey.

DAVENPORT & Co LLC decreased its stake in shares of Houlihan Lokey, Inc. (NYSE:HLI - Free Report) by 24.5% in the 2nd quarter, according to its most recent 13F filing with the SEC. The firm owned 14,742 shares of the financial services provider's stock after selling 4,776 shares during the period. DAVENPORT & Co LLC's holdings in Houlihan Lokey were worth $2,653,000 as of its most recent filing with the SEC.

Other institutional investors also recently made changes to their positions in the company. UMB Bank n.a. boosted its stake in Houlihan Lokey by 52.1% in the 1st quarter. UMB Bank n.a. now owns 1,372 shares of the financial services provider's stock valued at $222,000 after purchasing an additional 470 shares during the period. Harbor Capital Advisors Inc. bought a new stake in shares of Houlihan Lokey in the first quarter valued at about $3,297,000. GAMMA Investing LLC boosted its position in shares of Houlihan Lokey by 145.7% in the first quarter. GAMMA Investing LLC now owns 4,250 shares of the financial services provider's stock valued at $686,000 after acquiring an additional 2,520 shares during the period. Marshall Financial Group LLC boosted its position in shares of Houlihan Lokey by 12.7% in the first quarter. Marshall Financial Group LLC now owns 5,860 shares of the financial services provider's stock valued at $946,000 after acquiring an additional 661 shares during the period. Finally, Elevation Point Wealth Partners LLC bought a new stake in shares of Houlihan Lokey in the first quarter valued at about $619,000. Institutional investors own 78.07% of the company's stock.

Houlihan Lokey Price Performance

NYSE HLI opened at $191.31 on Thursday. The business has a fifty day moving average price of $198.28 and a two-hundred day moving average price of $181.45. Houlihan Lokey, Inc. has a fifty-two week low of $137.99 and a fifty-two week high of $211.78. The stock has a market capitalization of $13.45 billion, a PE ratio of 32.21 and a beta of 0.87.

Houlihan Lokey (NYSE:HLI - Get Free Report) last announced its quarterly earnings data on Tuesday, July 29th. The financial services provider reported $2.14 earnings per share 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 business had revenue of $605.35 million during the quarter, compared to the consensus estimate of $573.07 million. During the same period in the prior year, the company earned $1.22 EPS. Houlihan Lokey's revenue for the quarter was up 17.8% on a year-over-year basis. As a group, sell-side analysts expect that Houlihan Lokey, Inc. will post 5.98 earnings per share for the current year.

Houlihan Lokey Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, September 15th. Stockholders of record on Tuesday, September 2nd were issued a $0.60 dividend. The ex-dividend date of this dividend was Tuesday, September 2nd. This represents a $2.40 dividend on an annualized basis and a dividend yield of 1.3%. Houlihan Lokey's dividend payout ratio is 40.40%.

Analyst Ratings Changes

A number of analysts have issued reports on HLI shares. Wall Street Zen downgraded shares of Houlihan Lokey from a "buy" rating to a "hold" rating in a report on Saturday, August 2nd. BMO Capital Markets began coverage on Houlihan Lokey in a research note on Friday, October 3rd. They issued an "outperform" rating and a $230.00 price target for the company. Weiss Ratings reiterated a "buy (b-)" rating on shares of Houlihan Lokey in a research note on Wednesday. Keefe, Bruyette & Woods upgraded Houlihan Lokey from a "hold" rating to a "moderate buy" rating and upped their target price for the company from $185.00 to $232.00 in a research report on Monday, July 14th. Finally, Morgan Stanley upped their target price on Houlihan Lokey from $192.00 to $213.00 and gave the company an "overweight" rating in a research report on Monday, September 8th. One equities research analyst has rated the stock with a Strong Buy rating, four have given a Buy rating and three have assigned a Hold rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average price target of $213.83.

View Our Latest Report on Houlihan Lokey

Insider Activity at Houlihan Lokey

In related news, Chairman Irwin Gold sold 6,811 shares of the stock in a transaction that occurred on Tuesday, September 16th. The shares were sold at an average price of $202.75, for a total value of $1,380,930.25. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, General Counsel Christopher M. Crain sold 500 shares of the stock in a transaction that occurred on Tuesday, September 2nd. The shares were sold at an average price of $196.22, for a total transaction of $98,110.00. The disclosure for this sale can be found here. Insiders sold a total of 47,311 shares of company stock valued at $9,477,040 in the last quarter. Insiders own 22.83% of the company's stock.

Houlihan Lokey Company Profile

(Free Report)

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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Institutional Ownership by Quarter for Houlihan Lokey (NYSE:HLI)

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.

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