Houlihan Lokey, Inc. $HLI Shares Bought by Prana Capital Management LP

Key Points

• Prana Capital Management LP boosted its stake in Houlihan Lokey by 597.1% in Q3 to 61,549 shares (about $12.64M), while other institutions — notably Mayflower Financial (~$230.3M) and Norges Bank (~$126.7M) — also added large positions, leaving institutional ownership at roughly 78.07%.
• Insiders have been net sellers recently: General Counsel Christopher Crain sold 500 shares and Director Robert A. Schriesheim sold 5,000 shares (a 15.16% reduction), with insiders still holding about 22.83% of the stock.
• Analysts have trimmed targets but the consensus remains a Moderate Buy with a $204.57 average price target; the firm beat quarterly EPS estimates ($1.94 vs. $1.85), reported revenue up 13% YoY, and pays a $0.60 quarterly dividend (1.7% yield).

Prana Capital Management LP increased its position in shares of Houlihan Lokey, Inc. (NYSE:HLI - Free Report) by 597.1% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 61,549 shares of the financial services provider's stock after purchasing an additional 52,720 shares during the quarter. Prana Capital Management LP owned 0.09% of Houlihan Lokey worth $12,637,000 at the end of the most recent reporting period.

Other institutional investors have also modified their holdings of the company. Mayflower Financial Advisors LLC acquired a new position in Houlihan Lokey in the third quarter worth approximately $230,335,000. Norges Bank bought a new stake in Houlihan Lokey in the 2nd quarter valued at $126,723,000. Champlain Investment Partners LLC raised its position in shares of Houlihan Lokey by 194.9% during the second quarter. Champlain Investment Partners LLC now owns 546,340 shares of the financial services provider's stock valued at $98,314,000 after buying an additional 361,085 shares during the last quarter. Thrivent Financial for Lutherans lifted its stake in shares of Houlihan Lokey by 75.6% in the third quarter. Thrivent Financial for Lutherans now owns 713,494 shares of the financial services provider's stock valued at $146,495,000 after buying an additional 307,214 shares during the period. Finally, Renaissance Group LLC bought a new position in shares of Houlihan Lokey during the 2nd quarter worth about $34,115,000. Institutional investors and hedge funds own 78.07% of the company's stock.

Insiders Place Their Bets

In related news, General Counsel Christopher M. Crain sold 500 shares of Houlihan Lokey stock in a transaction that occurred on Friday, January 2nd. The stock was sold at an average price of $174.17, for a total transaction of $87,085.00. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Robert A. Schriesheim sold 5,000 shares of the company's stock in a transaction that occurred on Friday, February 6th. The stock was sold at an average price of $170.86, for a total value of $854,300.00. Following the sale, the director directly owned 27,982 shares in the company, valued at $4,781,004.52. This trade represents a 15.16% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. 22.83% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

HLI has been the subject of a number of recent research reports. The Goldman Sachs Group lowered their price target on shares of Houlihan Lokey from $243.00 to $210.00 and set a "buy" rating for the company in a research report on Thursday, March 12th. UBS Group dropped their price target on shares of Houlihan Lokey from $196.00 to $163.00 and set a "neutral" rating on the stock in a research report on Thursday, March 12th. Weiss Ratings lowered shares of Houlihan Lokey from a "buy (b-)" rating to a "hold (c+)" rating in a research note on Monday, March 9th. Morgan Stanley reduced their price target on Houlihan Lokey from $216.00 to $215.00 and set an "overweight" rating for the company in a report on Tuesday, January 6th. Finally, Keefe, Bruyette & Woods cut their price objective on Houlihan Lokey from $218.00 to $214.00 and set an "outperform" rating for the company in a research report on Thursday, January 29th. Five research analysts have rated the stock with a Buy rating and four have given a Hold rating to the company's stock. Based on data from MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus price target of $204.57.

Houlihan Lokey Stock Up 0.5%

Shares of NYSE HLI opened at $140.27 on Wednesday. The business has a 50-day simple moving average of $168.83 and a two-hundred day simple moving average of $181.17. The company has a market cap of $9.79 billion, a P/E ratio of 21.55 and a beta of 0.95. Houlihan Lokey, Inc. has a 52 week low of $137.99 and a 52 week high of $211.78.

Houlihan Lokey (NYSE:HLI - Get Free Report) last released its quarterly earnings results on Thursday, January 29th. The financial services provider reported $1.94 EPS for the quarter, beating analysts' consensus estimates of $1.85 by $0.09. Houlihan Lokey had a return on equity of 24.46% and a net margin of 16.91%.During the same quarter last year, the business posted $1.64 earnings per share. Houlihan Lokey's quarterly revenue was up 13.0% on a year-over-year basis. Equities research analysts anticipate that Houlihan Lokey, Inc. will post 5.98 EPS for the current year.

Houlihan Lokey Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Sunday, March 15th. Investors of record on Monday, March 2nd were given a dividend of $0.60 per share. This represents a $2.40 annualized dividend and a yield of 1.7%. The ex-dividend date was Monday, March 2nd. Houlihan Lokey's payout ratio is 36.87%.

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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