Houlihan Lokey, Inc. $HLI Shares Acquired by Eventide Asset Management LLC

Key Points

• Eventide Asset Management LLC increased its stake in Houlihan Lokey by 10.9%, owning approximately 196,636 shares worth $31.73 million as of the end of the first quarter.
• Insider activity saw Chairman Paul Eric Siegert selling 40,000 shares for nearly $8 million, while in total, insiders sold 45,500 shares worth about $9 million in the last 90 days.
• Houlihan Lokey reported Q2 earnings of $2.14 per share, beating analyst expectations, with revenues of $605.35 million, a 17.8% increase from the previous year.

Eventide Asset Management LLC boosted its position in shares of Houlihan Lokey, Inc. (NYSE:HLI - Free Report) by 10.9% in the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 196,636 shares of the financial services provider's stock after acquiring an additional 19,402 shares during the period. Eventide Asset Management LLC owned about 0.28% of Houlihan Lokey worth $31,734,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Bogart Wealth LLC grew its holdings in Houlihan Lokey by 111.1% during the 1st quarter. Bogart Wealth LLC now owns 152 shares of the financial services provider's stock worth $25,000 after acquiring an additional 80 shares in the last quarter. Motco acquired a new position in Houlihan Lokey during the 1st quarter worth approximately $29,000. Brooklyn Investment Group acquired a new position in Houlihan Lokey during the 1st quarter worth approximately $33,000. TCTC Holdings LLC lifted its position in shares of Houlihan Lokey by 103.5% during the 1st quarter. TCTC Holdings LLC now owns 232 shares of the financial services provider's stock worth $37,000 after buying an additional 118 shares during the last quarter. Finally, Caitong International Asset Management Co. Ltd lifted its position in shares of Houlihan Lokey by 3,714.3% during the 1st quarter. Caitong International Asset Management Co. Ltd now owns 267 shares of the financial services provider's stock worth $43,000 after buying an additional 260 shares during the last quarter. Institutional investors and hedge funds own 78.07% of the company's stock.

Houlihan Lokey Trading Down 0.3%

HLI stock traded down $0.65 on Friday, hitting $196.81. The company's stock had a trading volume of 553,519 shares, compared to its average volume of 360,885. The firm has a 50 day moving average of $192.57 and a two-hundred day moving average of $175.30. Houlihan Lokey, Inc. has a 1 year low of $137.99 and a 1 year high of $201.63. The stock has a market cap of $13.84 billion, a price-to-earnings ratio of 33.13 and a beta of 0.86.

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

Houlihan Lokey Dividend Announcement

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

Analyst Ratings Changes

HLI has been the subject of several recent analyst reports. Morgan Stanley restated an "overweight" rating and set a $192.00 price objective (up previously from $159.00) on shares of Houlihan Lokey in a research report on Monday, June 23rd. Keefe, Bruyette & Woods upgraded shares of Houlihan Lokey from a "hold" rating to a "moderate buy" rating and boosted their price objective for the stock from $185.00 to $232.00 in a research report on Monday, July 14th. Wall Street Zen downgraded shares of Houlihan Lokey from a "buy" rating to a "hold" rating in a research report on Saturday, August 2nd. Finally, Wells Fargo & Company boosted their price objective on shares of Houlihan Lokey from $185.00 to $209.00 and gave the stock an "overweight" rating in a research report on Friday, July 11th. Three research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company's stock. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average target price of $206.40.

Insider Buying and Selling at Houlihan Lokey

In other Houlihan Lokey news, Chairman Irwin Gold sold 5,000 shares of the business'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 sale was disclosed in a legal filing with the SEC, which is available through this link. Also, General Counsel Christopher M. Crain sold 500 shares of the business's stock in a transaction 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. In the last three months, insiders have sold 45,500 shares of company stock valued at $9,010,160. 22.83% of the stock is owned by company insiders.

About Houlihan Lokey

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.