HighTower Advisors LLC Has $38.73 Million Position in Houlihan Lokey, Inc. $HLI

Key Points

• HighTower Advisors LLC reduced its stake in Houlihan Lokey, Inc. by 1.9%, now holding 239,824 shares valued at approximately $38.7 million.
• Analysts have issued mixed ratings for Houlihan Lokey, with a target price range between $192.00 and $232.00, while the stock currently holds an average rating of "Moderate Buy."
• Houlihan Lokey recently announced a quarterly dividend of $0.60 per share, representing an annual yield of 1.3%, with a payout ratio of 40.40%.

HighTower Advisors LLC decreased its holdings in Houlihan Lokey, Inc. (NYSE:HLI - Free Report) by 1.9% in the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 239,824 shares of the financial services provider's stock after selling 4,733 shares during the quarter. HighTower Advisors LLC owned about 0.34% of Houlihan Lokey worth $38,732,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Bogart Wealth LLC increased its holdings in shares of Houlihan Lokey by 111.1% during the first quarter. Bogart Wealth LLC now owns 152 shares of the financial services provider's stock valued at $25,000 after acquiring an additional 80 shares in the last quarter. Motco purchased a new stake in Houlihan Lokey during the 1st quarter worth approximately $29,000. TCTC Holdings LLC increased its stake 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 purchasing an additional 118 shares in the last quarter. Thurston Springer Miller Herd & Titak Inc. purchased a new position in shares of Houlihan Lokey in the first quarter worth $54,000. Finally, Versant Capital Management Inc lifted its stake in shares of Houlihan Lokey by 744.2% during the first quarter. Versant Capital Management Inc now owns 363 shares of the financial services provider's stock worth $59,000 after buying an additional 320 shares during the period. 78.07% of the stock is currently owned by hedge funds and other institutional investors.

Houlihan Lokey Stock Performance

Houlihan Lokey stock traded up $0.1460 during trading hours on Tuesday, reaching $191.2860. 41,978 shares of the stock were exchanged, compared to its average volume of 401,671. The stock has a market cap of $13.35 billion, a P/E ratio of 32.18 and a beta of 0.86. Houlihan Lokey, Inc. has a 52-week low of $137.99 and a 52-week high of $198.78. The firm's 50 day moving average is $186.75 and its 200 day moving average is $173.73.

Houlihan Lokey (NYSE:HLI - Get Free Report) last released its quarterly earnings data on Tuesday, July 29th. The financial services provider reported $2.14 EPS for the quarter, topping the consensus estimate 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 analyst estimates of $573.07 million. During the same period in the previous year, the firm earned $1.22 EPS. The business's revenue for the quarter was up 17.8% compared to the same quarter last year. Equities research analysts expect that Houlihan Lokey, Inc. will post 5.98 EPS for the current fiscal year.

Houlihan Lokey Dividend Announcement

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

Insider Activity

In related news, Chairman Irwin Gold sold 5,000 shares of Houlihan Lokey 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 sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, General Counsel Christopher M. Crain sold 500 shares of the stock in a transaction that occurred on Monday, June 2nd. The shares were sold at an average price of $173.02, for a total transaction of $86,510.00. The disclosure for this sale can be found here. Insiders own 22.83% of the company's stock.

Wall Street Analyst Weigh In

Several equities analysts recently weighed in on HLI shares. Wells Fargo & Company increased their price target on shares of Houlihan Lokey from $185.00 to $209.00 and gave the stock an "overweight" rating in a report on Friday, July 11th. Keefe, Bruyette & Woods raised Houlihan Lokey from a "hold" rating to a "moderate buy" rating and raised their price objective for the company from $185.00 to $232.00 in a report on Monday, July 14th. Wall Street Zen lowered Houlihan Lokey from a "buy" rating to a "hold" rating in a research note on Saturday, August 2nd. Finally, Morgan Stanley reissued an "overweight" rating and issued a $192.00 target price (up from $159.00) on shares of Houlihan Lokey in a research note on Monday, June 23rd. Three equities research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the stock. According to MarketBeat.com, Houlihan Lokey currently has a consensus rating of "Moderate Buy" and an average price target of $206.40.

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.