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Fenimore Asset Management Inc Buys 54,151 Shares of Houlihan Lokey, Inc. $HLI

Houlihan Lokey logo with Finance background

Key Points

  • Fenimore Asset Management Inc increased its stake in Houlihan Lokey by 108.1%, acquiring an additional 54,151 shares, bringing its total ownership to 104,225 shares worth $18.76 million.
  • Insider trades include Chairman Paul Eric Siegert selling 40,000 shares for approximately $8 million, while other insiders collectively sold 47,311 shares valued at around $9.48 million over the last three months.
  • Houlihan Lokey's stock has received various analyst ratings, with Keefe, Bruyette & Woods upgrading it to a "moderate buy" and increasing the price target to $232, while the consensus rating remains at "Moderate Buy" with an average target of $213.83.
  • MarketBeat previews the top five stocks to own by November 1st.

Fenimore Asset Management Inc grew its stake in shares of Houlihan Lokey, Inc. (NYSE:HLI - Free Report) by 108.1% in the second quarter, according to its most recent disclosure with the SEC. The fund owned 104,225 shares of the financial services provider's stock after buying an additional 54,151 shares during the period. Fenimore Asset Management Inc owned approximately 0.15% of Houlihan Lokey worth $18,755,000 as of its most recent filing with the SEC.

Other institutional investors have also added to or reduced their stakes in the company. Brown Miller Wealth Management LLC raised its holdings in Houlihan Lokey by 12.4% in the 2nd quarter. Brown Miller Wealth Management LLC now owns 1,557 shares of the financial services provider's stock valued at $280,000 after acquiring an additional 172 shares in the last quarter. Highland Capital Management LLC bought a new stake in shares of Houlihan Lokey during the second quarter valued at approximately $1,451,000. 111 Capital acquired a new position in shares of Houlihan Lokey in the second quarter valued at $231,000. QRG Capital Management Inc. lifted its position in Houlihan Lokey by 9.4% in the second quarter. QRG Capital Management Inc. now owns 5,457 shares of the financial services provider's stock worth $982,000 after purchasing an additional 470 shares during the period. Finally, J2 Capital Management Inc lifted its position in Houlihan Lokey by 37.4% in the second quarter. J2 Capital Management Inc now owns 2,315 shares of the financial services provider's stock worth $417,000 after purchasing an additional 630 shares during the period. 78.07% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In related news, Chairman Paul Eric Siegert sold 40,000 shares of the business's stock in a transaction 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, General Counsel Christopher M. Crain sold 500 shares of the company's stock in a transaction dated 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. Over the last three months, insiders have sold 47,311 shares of company stock valued at $9,477,040. 22.83% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

A number of brokerages have recently issued reports on HLI. Keefe, Bruyette & Woods upgraded shares of Houlihan Lokey from a "hold" rating to a "moderate buy" rating and increased their price objective for the company from $185.00 to $232.00 in a research note on Monday, July 14th. Weiss Ratings reissued a "buy (b-)" rating on shares of Houlihan Lokey in a research report on Saturday, September 27th. BMO Capital Markets started coverage on shares of Houlihan Lokey in a research note on Friday. They set an "outperform" rating and a $230.00 price target for the company. Morgan Stanley upped their price objective on Houlihan Lokey from $192.00 to $213.00 and gave the company an "overweight" rating in a research note on Monday, September 8th. Finally, Wall Street Zen cut Houlihan Lokey from a "buy" rating to a "hold" rating in a report on Saturday, August 2nd. One research analyst has rated the stock with a Strong Buy rating, four have given a Buy rating and three have given a Hold rating to the company's stock. Based on data from MarketBeat.com, Houlihan Lokey currently has a consensus rating of "Moderate Buy" and an average price target of $213.83.

View Our Latest Research Report on HLI

Houlihan Lokey Stock Performance

NYSE HLI opened at $201.24 on Monday. The stock has a fifty day moving average of $198.15 and a 200-day moving average of $181.06. Houlihan Lokey, Inc. has a 52 week low of $137.99 and a 52 week high of $211.78. The stock has a market capitalization of $14.15 billion, a P/E ratio of 33.88 and a beta of 0.87.

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

Houlihan Lokey Dividend Announcement

The business also recently announced 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 dividend yield of 1.2%. Houlihan Lokey's payout ratio is currently 40.40%.

Houlihan Lokey Company Profile

(Free Report)

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.

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Institutional Ownership by Quarter for Houlihan Lokey (NYSE:HLI)

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.

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