Handelsbanken Fonder AB Sells 85,000 Shares of Houlihan Lokey, Inc. $HLI

Key Points

• Handelsbanken Fonder AB cut its Houlihan Lokey stake by 21.3% in the fourth quarter, selling 85,000 shares and leaving it with 313,458 shares valued at about $54.6 million.
• Several institutional investors increased their holdings, and overall institutional ownership stands at 78.07% of the company’s stock.
• Houlihan Lokey reported quarterly EPS of $1.63 versus the $1.79 consensus and revenue of $635.64 million versus expectations, while also raising its quarterly dividend to $0.70 per share from $0.60.

Handelsbanken Fonder AB lowered its position in Houlihan Lokey, Inc. (NYSE:HLI - Free Report) by 21.3% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 313,458 shares of the financial services provider's stock after selling 85,000 shares during the quarter. Handelsbanken Fonder AB owned approximately 0.45% of Houlihan Lokey worth $54,601,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently bought and sold shares of the company. Thrivent Financial for Lutherans boosted its position in Houlihan Lokey by 75.6% during the 3rd quarter. Thrivent Financial for Lutherans now owns 713,494 shares of the financial services provider's stock valued at $146,495,000 after acquiring an additional 307,214 shares in the last quarter. Qube Research & Technologies Ltd boosted its position in Houlihan Lokey by 153.8% during the 2nd quarter. Qube Research & Technologies Ltd now owns 274,387 shares of the financial services provider's stock valued at $49,376,000 after acquiring an additional 166,285 shares in the last quarter. Capital Research Global Investors boosted its position in Houlihan Lokey by 19.7% during the 3rd quarter. Capital Research Global Investors now owns 956,441 shares of the financial services provider's stock valued at $196,376,000 after acquiring an additional 157,605 shares in the last quarter. Caisse de depot et placement du Quebec boosted its position in Houlihan Lokey by 411.1% during the 3rd quarter. Caisse de depot et placement du Quebec now owns 170,617 shares of the financial services provider's stock valued at $35,031,000 after acquiring an additional 137,237 shares in the last quarter. Finally, Jennison Associates LLC lifted its holdings in shares of Houlihan Lokey by 25.4% during the 3rd quarter. Jennison Associates LLC now owns 589,093 shares of the financial services provider's stock valued at $120,953,000 after purchasing an additional 119,440 shares during the last quarter. Institutional investors own 78.07% of the company's stock.

Analysts Set New Price Targets

HLI has been the subject of several analyst reports. Morgan Stanley decreased their price objective on Houlihan Lokey from $205.00 to $193.00 and set an "overweight" rating for the company in a report on Thursday, April 9th. UBS Group set a $160.00 price objective on Houlihan Lokey in a report on Thursday, May 7th. Zacks Research lowered Houlihan Lokey from a "hold" rating to a "strong sell" rating in a report on Wednesday, May 13th. BMO Capital Markets increased their price objective on Houlihan Lokey from $209.00 to $211.00 and gave the company an "outperform" rating in a report on Thursday, January 29th. Finally, The Goldman Sachs Group decreased their price objective on Houlihan Lokey from $210.00 to $184.00 and set a "buy" rating for the company in a report on Wednesday, April 1st. Five investment analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has issued a Sell rating to the company's stock. According to MarketBeat.com, the stock currently has a consensus rating of "Hold" and an average target price of $191.29.

Insider Transactions at Houlihan Lokey

In related news, General Counsel Christopher M. Crain sold 500 shares of the firm's stock in a transaction on Wednesday, April 1st. The stock was sold at an average price of $143.40, for a total value of $71,700.00. Following the completion of the transaction, the general counsel owned 500 shares in the company, valued at $71,700. This trade represents a 50.00% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 22.83% of the stock is owned by company insiders.

Houlihan Lokey Price Performance

Shares of HLI stock opened at $147.42 on Wednesday. The firm has a market capitalization of $10.29 billion, a price-to-earnings ratio of 23.70, a price-to-earnings-growth ratio of 1.18 and a beta of 0.99. The business has a fifty day moving average of $148.73 and a 200 day moving average of $166.20. Houlihan Lokey, Inc. has a 1 year low of $134.41 and a 1 year high of $211.78.

Houlihan Lokey (NYSE:HLI - Get Free Report) last issued its earnings results on Wednesday, May 6th. The financial services provider reported $1.63 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $1.79 by ($0.16). The firm had revenue of $635.64 million during the quarter, compared to analysts' expectations of $679.22 million. Houlihan Lokey had a return on equity of 22.88% and a net margin of 16.26%.The business's revenue was down 4.6% on a year-over-year basis. During the same quarter last year, the business earned $1.96 EPS. As a group, equities research analysts expect that Houlihan Lokey, Inc. will post 8.54 earnings per share for the current year.

Houlihan Lokey Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, June 15th. Investors of record on Monday, June 1st will be paid a $0.70 dividend. This is a positive change from Houlihan Lokey's previous quarterly dividend of $0.60. The ex-dividend date is Monday, June 1st. This represents a $2.80 dividend on an annualized basis and a yield of 1.9%. Houlihan Lokey's dividend payout ratio (DPR) is 38.59%.

About Houlihan Lokey

Houlihan Lokey, Inc is a global investment bank and financial services firm founded in 1972 and headquartered in Los Angeles, California. The company specializes in advisory services across a broad range of transaction types and financial matters. Since its founding, Houlihan Lokey has grown to serve corporations, financial sponsors, and government entities worldwide, providing expertise in complex and high-stakes engagements.

The firm's core service offerings include mergers and acquisitions advisory, capital markets advisory, financial restructuring and distressed M&A, and valuation and fairness opinions.

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