GW&K Investment Management LLC trimmed its holdings in shares of Houlihan Lokey, Inc. (NYSE:HLI - Free Report) by 2.5% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 415,277 shares of the financial services provider's stock after selling 10,850 shares during the quarter. GW&K Investment Management LLC owned approximately 0.59% of Houlihan Lokey worth $67,067,000 as of its most recent SEC filing.
Other large investors have also made changes to their positions in the company. Elevation Point Wealth Partners LLC acquired a new position in Houlihan Lokey in the 1st quarter valued at $619,000. New York State Teachers Retirement System raised its stake in Houlihan Lokey by 1.1% in the 1st quarter. New York State Teachers Retirement System now owns 17,926 shares of the financial services provider's stock valued at $2,895,000 after purchasing an additional 200 shares during the last quarter. OneDigital Investment Advisors LLC acquired a new position in Houlihan Lokey in the 1st quarter valued at $210,000. QRG Capital Management Inc. raised its stake in Houlihan Lokey by 9.7% in the 1st quarter. QRG Capital Management Inc. now owns 4,987 shares of the financial services provider's stock valued at $805,000 after purchasing an additional 439 shares during the last quarter. Finally, GAMMA Investing LLC raised its stake in Houlihan Lokey by 145.7% in the 1st quarter. GAMMA Investing LLC now owns 4,250 shares of the financial services provider's stock valued at $686,000 after purchasing an additional 2,520 shares during the last quarter. 78.07% of the stock is owned by institutional investors and hedge funds.
Insider Transactions at Houlihan Lokey
In related news, Chairman Scott L. Beiser sold 8,008 shares of the firm's stock in a transaction dated Monday, May 19th. The stock was sold at an average price of $178.71, for a total transaction of $1,431,109.68. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Chairman Irwin Gold sold 5,000 shares of the firm's stock in a transaction dated Monday, June 30th. The shares were sold at an average price of $182.81, for a total value of $914,050.00. The disclosure for this sale can be found here. In the last ninety days, insiders sold 13,508 shares of company stock worth $2,431,670. 23.68% of the stock is currently owned by company insiders.
Analyst Upgrades and Downgrades
HLI has been the subject of several recent research reports. Wall Street Zen raised Houlihan Lokey from a "hold" rating to a "buy" rating in a research note on Saturday, July 12th. Keefe, Bruyette & Woods upgraded Houlihan Lokey from a "hold" rating to a "moderate buy" rating and upped their target price for the company from $185.00 to $232.00 in a report on Monday, July 14th. Wells Fargo & Company upped their target price on Houlihan Lokey from $185.00 to $209.00 and gave the company an "overweight" rating in a report on Friday, July 11th. Finally, Morgan Stanley restated an "overweight" rating and issued a $192.00 target price (up from $159.00) on shares of Houlihan Lokey in a report on Monday, June 23rd. Two analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average target price of $206.40.
Read Our Latest Analysis on Houlihan Lokey
Houlihan Lokey Trading Up 0.4%
NYSE:HLI traded up $0.85 during trading hours on Thursday, hitting $197.03. The company had a trading volume of 86,254 shares, compared to its average volume of 399,573. The company has a 50-day moving average of $180.74 and a 200 day moving average of $172.01. The company has a market cap of $13.75 billion, a P/E ratio of 33.84 and a beta of 0.83. Houlihan Lokey, Inc. has a 1 year low of $137.99 and a 1 year high of $198.78.
Houlihan Lokey (NYSE:HLI - Get Free Report) last released its quarterly earnings results on Wednesday, May 7th. The financial services provider reported $1.96 earnings per share for the quarter, topping analysts' consensus estimates of $1.61 by $0.35. The business had revenue of $666.42 million during the quarter, compared to analysts' expectations of $628.25 million. Houlihan Lokey had a return on equity of 21.61% and a net margin of 16.73%. The company's revenue was up 28.0% compared to the same quarter last year. During the same period in the prior year, the business posted $1.27 EPS. On average, analysts forecast that Houlihan Lokey, Inc. will post 5.98 earnings per share for the current year.
Houlihan Lokey Increases Dividend
The firm also recently declared a quarterly dividend, which was paid on Sunday, June 15th. Stockholders of record on Monday, June 2nd were issued a dividend of $0.60 per share. The ex-dividend date of this dividend was Monday, June 2nd. This is a boost from Houlihan Lokey's previous quarterly dividend of $0.57. This represents a $2.40 dividend on an annualized basis and a dividend yield of 1.22%. Houlihan Lokey's dividend payout ratio is currently 41.24%.
Houlihan Lokey 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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