Fiera Capital Corp Cuts Stock Position in Houlihan Lokey, Inc. (NYSE:HLI)

Key Points

• Fiera Capital Corp reduced its holdings in Houlihan Lokey, Inc. by 0.8%, owning approximately $44.47 million worth of shares after selling 2,138 shares in the first quarter.
• Institutional investors and hedge funds currently own 78.07% of Houlihan Lokey's stock, indicating strong institutional support for the company.
• Houlihan Lokey announced a quarterly dividend increase to $0.60 per share, up from the previous $0.57, representing an annualized yield of 1.24%.

Fiera Capital Corp reduced its stake in shares of Houlihan Lokey, Inc. (NYSE:HLI - Free Report) by 0.8% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 275,329 shares of the financial services provider's stock after selling 2,138 shares during the quarter. Fiera Capital Corp owned 0.39% of Houlihan Lokey worth $44,466,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in HLI. Bogart Wealth LLC grew its position in Houlihan Lokey by 111.1% during the first quarter. Bogart Wealth LLC now owns 152 shares of the financial services provider's stock worth $25,000 after buying an additional 80 shares during the period. Motco acquired a new stake in shares of Houlihan Lokey in the first quarter valued at approximately $29,000. Thurston Springer Miller Herd & Titak Inc. acquired a new stake in shares of Houlihan Lokey in the first quarter valued at approximately $54,000. Versant Capital Management Inc grew its position in shares of Houlihan Lokey by 744.2% in the first quarter. Versant Capital Management Inc now owns 363 shares of the financial services provider's stock valued at $59,000 after purchasing an additional 320 shares during the last quarter. Finally, First Horizon Advisors Inc. grew its position in shares of Houlihan Lokey by 17.5% in the first quarter. First Horizon Advisors Inc. now owns 550 shares of the financial services provider's stock valued at $89,000 after purchasing an additional 82 shares during the last quarter. 78.07% of the stock is currently owned by institutional investors and hedge funds.

Houlihan Lokey Stock Performance

NYSE HLI traded down $0.87 during mid-day trading on Friday, reaching $189.79. 190,775 shares of the stock were exchanged, compared to its average volume of 407,529. Houlihan Lokey, Inc. has a 1-year low of $137.99 and a 1-year high of $198.78. The business's fifty day simple moving average is $182.69 and its 200 day simple moving average is $172.96. The stock has a market capitalization of $13.25 billion, a PE ratio of 31.95 and a beta of 0.83.

Houlihan Lokey (NYSE:HLI - Get Free Report) last announced its earnings results on Tuesday, July 29th. The financial services provider reported $2.14 earnings per share (EPS) for the quarter, topping 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 firm had revenue of $605.35 million for the quarter, compared to analyst estimates of $573.07 million. During the same quarter last year, the business earned $1.22 earnings per share. Houlihan Lokey's revenue was up 17.8% compared to the same quarter last year. On average, analysts anticipate that Houlihan Lokey, Inc. will post 5.98 EPS for the current year.

Houlihan Lokey Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, September 15th. Shareholders of record on Tuesday, September 2nd will be paid a dividend of $0.60 per share. The ex-dividend date of this dividend is Tuesday, September 2nd. This represents a $2.40 dividend on an annualized basis and a yield of 1.3%. Houlihan Lokey's dividend payout ratio (DPR) is currently 40.40%.

Analyst Upgrades and Downgrades

Several research firms have recently commented on HLI. Keefe, Bruyette & Woods upgraded shares of Houlihan Lokey from a "hold" rating to a "moderate buy" rating and increased their price target for the company from $185.00 to $232.00 in a research report on Monday, July 14th. Wells Fargo & Company increased their price target on shares of Houlihan Lokey from $185.00 to $209.00 and gave the company an "overweight" rating in a research report on Friday, July 11th. Wall Street Zen upgraded shares of Houlihan Lokey from a "hold" rating to a "buy" rating in a research report on Saturday, July 12th. Finally, Morgan Stanley reiterated an "overweight" rating and issued a $192.00 price target (up from $159.00) on shares of Houlihan Lokey in a research report on Monday, June 23rd. Two investment analysts have rated the stock with a hold rating and four have given a buy rating to the company's stock. Based on data from MarketBeat, the company has an average rating of "Moderate Buy" and an average price target of $206.40.

Insiders Place Their Bets

In other Houlihan Lokey news, Chairman Scott L. Beiser sold 8,008 shares of the stock in a transaction that occurred on Monday, May 19th. The shares were sold at an average price of $178.71, for a total transaction of $1,431,109.68. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, Chairman Irwin Gold sold 5,000 shares of the stock in a transaction that occurred on Monday, June 30th. The stock was sold at an average price of $182.81, for a total transaction of $914,050.00. The disclosure for this sale can be found here. Insiders have sold a total of 13,508 shares of company stock valued at $2,431,670 over the last quarter. Company insiders own 23.68% of the company's stock.

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.