Exchange Traded Concepts LLC Lowers Stock Position in Houlihan Lokey, Inc. $HLI

Key Points

• Exchange Traded Concepts LLC decreased its stake in Houlihan Lokey, Inc. by 29.4%, selling 5,992 shares, leaving them with a total of 14,355 shares valued at approximately $2.58 million.
• Houlihan Lokey reported earnings of $2.14 per share for the last quarter, exceeding estimates and achieving a 17.8% year-over-year revenue growth to $605.35 million.
• The company’s dividend payout was recently announced at $0.60 per share, translating to an annualized dividend of $2.40 and a yield of 1.1%.

Exchange Traded Concepts LLC lessened its stake in shares of Houlihan Lokey, Inc. (NYSE:HLI - Free Report) by 29.4% in the second quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 14,355 shares of the financial services provider's stock after selling 5,992 shares during the quarter. Exchange Traded Concepts LLC's holdings in Houlihan Lokey were worth $2,583,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also made changes to their positions in the company. Bogart Wealth LLC lifted its stake in shares of Houlihan Lokey by 111.1% in the 1st quarter. Bogart Wealth LLC now owns 152 shares of the financial services provider's stock valued at $25,000 after purchasing an additional 80 shares during the last quarter. Motco acquired a new position in shares of Houlihan Lokey during the 1st quarter worth about $29,000. Brooklyn Investment Group purchased a new position in Houlihan Lokey during the first quarter worth about $33,000. TCTC Holdings LLC boosted its holdings in Houlihan Lokey by 103.5% during the 1st quarter. TCTC Holdings LLC now owns 232 shares of the financial services provider's stock valued at $37,000 after acquiring an additional 118 shares during the period. Finally, Caitong International Asset Management Co. Ltd raised its stake in 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 acquiring an additional 260 shares in the last quarter. Institutional investors own 78.07% of the company's stock.

Analyst Ratings Changes

Several research analysts have weighed in on the company. Keefe, Bruyette & Woods upgraded Houlihan Lokey from a "hold" rating to a "moderate buy" rating and boosted their price target for the company from $185.00 to $232.00 in a report on Monday, July 14th. Morgan Stanley lifted their price target on Houlihan Lokey from $192.00 to $213.00 and gave the stock an "overweight" rating in a research report on Monday, September 8th. Wells Fargo & Company increased their price objective on Houlihan Lokey from $185.00 to $209.00 and gave the company an "overweight" rating in a research report on Friday, July 11th. Finally, Wall Street Zen cut Houlihan Lokey from a "buy" rating to a "hold" rating in a research report on Saturday, August 2nd. Three investment analysts have rated the stock with a Buy rating and two have given a Hold rating to the company's stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average price target of $210.60.

Houlihan Lokey Trading Up 0.2%

Houlihan Lokey stock traded up $0.43 on Friday, hitting $208.87. 1,050,905 shares of the stock traded hands, compared to its average volume of 408,240. The firm has a market cap of $14.69 billion, a P/E ratio of 35.16 and a beta of 0.86. Houlihan Lokey, Inc. has a 1 year low of $137.99 and a 1 year high of $209.39. The business's fifty day simple moving average is $196.23 and its 200 day simple moving average is $177.84.

Houlihan Lokey (NYSE:HLI - Get Free Report) last released its quarterly earnings results on Tuesday, July 29th. The financial services provider reported $2.14 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.69 by $0.45. The company had revenue of $605.35 million for the quarter, compared to the consensus estimate of $573.07 million. Houlihan Lokey had a net margin of 16.46% and a return on equity of 23.75%. Houlihan Lokey's revenue was up 17.8% on a year-over-year basis. During the same quarter in the prior year, the firm earned $1.22 earnings per share. As a group, analysts predict that Houlihan Lokey, Inc. will post 5.98 earnings per share for the current year.

Houlihan Lokey Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, September 15th. Investors of record on Tuesday, September 2nd were given 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 yield of 1.1%. Houlihan Lokey's payout ratio is 40.40%.

Insider Transactions at Houlihan Lokey

In related news, General Counsel Christopher M. Crain sold 500 shares of the business's stock in a transaction dated Tuesday, September 2nd. The shares were sold at an average price of $196.22, for a total value of $98,110.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Chairman Paul Eric Siegert sold 40,000 shares of Houlihan Lokey stock in a transaction that occurred on Wednesday, August 27th. The stock was sold at an average price of $199.95, for a total value of $7,998,000.00. The disclosure for this sale can be found here. In the last three months, insiders sold 52,311 shares of company stock valued at $10,391,090. Corporate insiders own 22.83% of the company's stock.

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.