Edgestream Partners L.P. Trims Position in Houlihan Lokey, Inc. (NYSE:HLI)

Edgestream Partners L.P. cut its stake in shares of Houlihan Lokey, Inc. (NYSE:HLI - Free Report) by 47.3% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 17,984 shares of the financial services provider's stock after selling 16,155 shares during the quarter. Edgestream Partners L.P.'s holdings in Houlihan Lokey were worth $2,904,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also bought and sold shares of HLI. Securian Asset Management Inc. increased its holdings in Houlihan Lokey by 2.5% during the 1st quarter. Securian Asset Management Inc. now owns 4,151 shares of the financial services provider's stock valued at $670,000 after purchasing an additional 100 shares during the period. MQS Management LLC bought a new position in shares of Houlihan Lokey during the first quarter valued at approximately $281,000. Louisiana State Employees Retirement System lifted its stake in Houlihan Lokey by 1.3% in the first quarter. Louisiana State Employees Retirement System now owns 15,100 shares of the financial services provider's stock worth $2,439,000 after acquiring an additional 200 shares during the period. Diversify Wealth Management LLC purchased a new position in shares of Houlihan Lokey during the first quarter valued at about $231,000. Finally, Xponance Inc. boosted its position in Houlihan Lokey by 2.0% during the 1st quarter. Xponance Inc. now owns 6,650 shares of the financial services provider's stock valued at $1,074,000 after acquiring an additional 132 shares in the last quarter. 78.07% of the stock is currently owned by institutional investors.

Houlihan Lokey Stock Down 0.7%

HLI stock traded down $1.34 during mid-day trading on Friday, hitting $196.09. The company had a trading volume of 287,484 shares, compared to its average volume of 361,221. The company has a 50-day moving average price of $179.71 and a 200 day moving average price of $171.51. Houlihan Lokey, Inc. has a 12-month low of $137.99 and a 12-month high of $198.78. The company has a market capitalization of $13.69 billion, a price-to-earnings ratio of 33.69 and a beta of 0.83.

Houlihan Lokey (NYSE:HLI - Get Free Report) last released its quarterly earnings results on Wednesday, May 7th. The financial services provider reported $1.96 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.61 by $0.35. The company had revenue of $666.42 million for the quarter, compared to the consensus estimate of $628.25 million. Houlihan Lokey had a net margin of 16.73% and a return on equity of 21.61%. Houlihan Lokey's revenue was up 28.0% on a year-over-year basis. During the same quarter in the prior year, the firm earned $1.27 earnings per share. As a group, analysts expect that Houlihan Lokey, Inc. will post 5.98 EPS for the current year.

Houlihan Lokey Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Sunday, June 15th. Shareholders of record on Monday, June 2nd were paid a $0.60 dividend. This is an increase from Houlihan Lokey's previous quarterly dividend of $0.57. This represents a $2.40 dividend on an annualized basis and a yield of 1.22%. The ex-dividend date was Monday, June 2nd. Houlihan Lokey's dividend payout ratio is currently 41.24%.

Analysts Set New Price Targets

HLI has been the subject of several recent research reports. Wall Street Zen upgraded shares of Houlihan Lokey from a "hold" rating to a "buy" rating in a report on Saturday, July 12th. Wells Fargo & Company raised their price target on Houlihan Lokey from $185.00 to $209.00 and gave the company an "overweight" rating in a report on Friday, July 11th. Keefe, Bruyette & Woods raised Houlihan Lokey from a "hold" rating to a "moderate buy" rating and lifted their price target for the stock from $185.00 to $232.00 in a research report on Monday, July 14th. Finally, Morgan Stanley reiterated an "overweight" rating and issued a $192.00 price target (up previously from $159.00) on shares of Houlihan Lokey in a research note on Monday, June 23rd. Two investment analysts have rated the stock with a hold rating and four have given a buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $206.40.

Insider Activity

In other news, Chairman Scott L. Beiser sold 8,008 shares of the business's stock in a transaction on Monday, May 19th. The stock was sold at an average price of $178.71, for a total value of $1,431,109.68. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, General Counsel Christopher M. Crain sold 500 shares of the firm's stock in a transaction that occurred 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. Over the last quarter, insiders sold 13,508 shares of company stock valued at $2,431,670. Corporate insiders own 23.68% of the company's stock.

Houlihan Lokey 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.