Edgestream Partners L.P. Purchases 46,277 Shares of Houlihan Lokey, Inc. $HLI

Key Points

• Edgestream Partners increased its Houlihan Lokey stake by 510.7% in the first quarter, acquiring 46,277 additional shares for a total holding of 55,338 shares valued at approximately $7.95 million. Institutional investors collectively own 78.07% of the company.
• Houlihan Lokey reported quarterly EPS of $1.35, below the $1.64 analyst consensus, while revenue fell 15.6% year over year to $511 million. Shares recently traded near $138.83, well below their 52-week high of $211.78.
• The company raised its quarterly dividend from $0.60 to $0.70 per share, equivalent to a 2.0% annualized yield. Analysts maintain a “Moderate Buy” consensus rating with an average price target of $180.50.

Edgestream Partners L.P. raised its position in Houlihan Lokey, Inc. (NYSE:HLI - Free Report) by 510.7% in the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 55,338 shares of the financial services provider's stock after acquiring an additional 46,277 shares during the period. Edgestream Partners L.P. owned about 0.08% of Houlihan Lokey worth $7,948,000 as of its most recent SEC filing.

A number of other hedge funds also recently modified their holdings of the company. Flagship Harbor Advisors LLC bought a new stake in shares of Houlihan Lokey during the fourth quarter valued at approximately $26,000. Oakworth Capital Inc. bought a new position in Houlihan Lokey in the fourth quarter worth $29,000. Core Wealth Advisors LLC bought a new position in Houlihan Lokey in the fourth quarter worth $32,000. Eurizon Capital SGR S.p.A. acquired a new stake in Houlihan Lokey during the fourth quarter worth $33,000. Finally, Annis Gardner Whiting Capital Advisors LLC boosted its stake in Houlihan Lokey by 103.4% during the first quarter. Annis Gardner Whiting Capital Advisors LLC now owns 236 shares of the financial services provider's stock worth $34,000 after buying an additional 120 shares in the last quarter. Institutional investors own 78.07% of the company's stock.

Houlihan Lokey Stock Performance

Shares of NYSE:HLI opened at $138.83 on Thursday. The company's fifty day moving average is $140.38 and its 200-day moving average is $152.70. Houlihan Lokey, Inc. has a 52 week low of $130.72 and a 52 week high of $211.78. The company has a market capitalization of $9.59 billion, a PE ratio of 22.32, a P/E/G ratio of 1.23 and a beta of 0.95.

Houlihan Lokey (NYSE:HLI - Get Free Report) last announced its earnings results on Wednesday, July 29th. The financial services provider reported $1.35 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $1.64 by ($0.29). Houlihan Lokey had a return on equity of 22.88% and a net margin of 16.26%.The firm had revenue of $511.00 million for the quarter, compared to analyst estimates of $602.38 million. During the same quarter last year, the business earned $2.14 EPS. The company's revenue for the quarter was down 15.6% compared to the same quarter last year. On average, analysts forecast that Houlihan Lokey, Inc. will post 7.91 EPS for the current year.

Houlihan Lokey Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, June 15th. Stockholders of record on Monday, June 1st were paid a $0.70 dividend. This represents a $2.80 dividend on an annualized basis and a dividend yield of 2.0%. This is an increase from Houlihan Lokey's previous quarterly dividend of $0.60. The ex-dividend date was Monday, June 1st. Houlihan Lokey's dividend payout ratio is presently 45.02%.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on HLI. UBS Group increased their price objective on shares of Houlihan Lokey from $160.00 to $161.00 and gave the company a "neutral" rating in a research note on Wednesday, July 8th. Zacks Research upgraded shares of Houlihan Lokey from a "strong sell" rating to a "hold" rating in a research report on Thursday, June 11th. Weiss Ratings reissued a "hold (c)" rating on shares of Houlihan Lokey in a research note on Friday, July 17th. Wolfe Research raised shares of Houlihan Lokey from an "underperform" rating to a "peer perform" rating in a research report on Thursday, July 9th. Finally, Keefe, Bruyette & Woods cut their price target on shares of Houlihan Lokey from $172.00 to $160.00 and set an "outperform" rating for the company in a research note on Friday, July 10th. Five investment analysts have rated the stock with a Buy rating and five have given a Hold rating to the stock. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $180.50.

Insider Activity at Houlihan Lokey

In related news, Chairman Scott L. Beiser sold 6,265 shares of the stock in a transaction that occurred on Thursday, May 21st. The stock was sold at an average price of $150.26, for a total transaction of $941,378.90. Following the sale, the chairman directly owned 6,265 shares in the company, valued at $941,378.90. This represents a 50.00% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 22.83% of the stock is owned by insiders.

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.

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