Elevation Point Wealth Partners LLC Makes New Investment in Houlihan Lokey, Inc. (NYSE:HLI)

Elevation Point Wealth Partners LLC bought a new position in shares of Houlihan Lokey, Inc. (NYSE:HLI - Free Report) during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm bought 3,830 shares of the financial services provider's stock, valued at approximately $619,000.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Nicolet Advisory Services LLC boosted its position in Houlihan Lokey by 4.8% during the fourth quarter. Nicolet Advisory Services LLC now owns 1,532 shares of the financial services provider's stock worth $258,000 after purchasing an additional 70 shares in the last quarter. CIBC Asset Management Inc lifted its position in shares of Houlihan Lokey by 5.0% during the 4th quarter. CIBC Asset Management Inc now owns 1,617 shares of the financial services provider's stock valued at $281,000 after buying an additional 77 shares in the last quarter. Mariner LLC grew its stake in Houlihan Lokey by 0.7% in the 4th quarter. Mariner LLC now owns 12,220 shares of the financial services provider's stock valued at $2,122,000 after acquiring an additional 81 shares during the period. Benjamin Edwards Inc. increased its holdings in Houlihan Lokey by 5.7% in the 4th quarter. Benjamin Edwards Inc. now owns 1,636 shares of the financial services provider's stock worth $284,000 after acquiring an additional 88 shares in the last quarter. Finally, M&T Bank Corp increased its holdings in Houlihan Lokey by 2.5% in the 4th quarter. M&T Bank Corp now owns 3,771 shares of the financial services provider's stock worth $655,000 after acquiring an additional 92 shares in the last quarter. 78.07% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

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

Wall Street Analysts Forecast Growth

Several equities analysts have issued reports on the stock. Morgan Stanley decreased their price objective on shares of Houlihan Lokey from $190.00 to $156.00 and set an "overweight" rating on the stock in a report on Monday, April 7th. Wall Street Zen upgraded shares of Houlihan Lokey from a "hold" rating to a "buy" rating in a research report on Thursday, May 22nd. Wells Fargo & Company lifted their price objective on Houlihan Lokey from $170.00 to $185.00 and gave the stock an "overweight" rating in a report on Thursday, May 8th. Finally, Keefe, Bruyette & Woods increased their target price on Houlihan Lokey from $183.00 to $185.00 and gave the company a "market perform" rating in a report on Monday, May 12th. Three research analysts have rated the stock with a hold rating and four have issued a buy rating to the company. According to MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus price target of $185.00.

Houlihan Lokey Price Performance

HLI traded down $0.96 on Tuesday, reaching $171.73. 345,266 shares of the company's stock were exchanged, compared to its average volume of 351,059. The stock has a market cap of $11.99 billion, a PE ratio of 27.50 and a beta of 0.83. Houlihan Lokey, Inc. has a twelve month low of $128.63 and a twelve month high of $192.10. The stock's fifty day moving average price is $167.65 and its 200-day moving average price is $170.41.

Houlihan Lokey (NYSE:HLI - Get Free Report) last issued its earnings results on Wednesday, May 7th. The financial services provider reported $1.96 earnings per share for the quarter, topping the consensus estimate of $1.61 by $0.35. Houlihan Lokey had a return on equity of 21.61% and a net margin of 16.73%. The business had revenue of $666.42 million for the quarter, compared to analysts' expectations of $628.25 million. During the same period in the previous year, the firm posted $1.27 EPS. The business's revenue for the quarter was up 28.0% compared to the same quarter last year. As a group, research analysts predict that Houlihan Lokey, Inc. will post 5.98 earnings per share for the current fiscal 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 issued a $0.60 dividend. This is a boost from Houlihan Lokey's previous quarterly dividend of $0.57. This represents a $2.40 annualized dividend and a yield of 1.40%. The ex-dividend date was Monday, June 2nd. Houlihan Lokey's dividend payout ratio is presently 41.24%.

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.