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

Key Points

• Westfield Capital Management increased its Houlihan Lokey stake by 28% in the fourth quarter, bringing its holdings to 520,002 shares valued at about $90.6 million.
• Other institutional investors also boosted exposure, and hedge funds and other institutions now own 78.07% of Houlihan Lokey’s shares.
• The company recently raised its quarterly dividend to $0.70 per share, while its latest earnings missed analyst estimates and revenue came in below expectations.

Westfield Capital Management Co. LP lifted its position in Houlihan Lokey, Inc. (NYSE:HLI - Free Report) by 28.0% in the 4th quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 520,002 shares of the financial services provider's stock after acquiring an additional 113,696 shares during the quarter. Westfield Capital Management Co. LP owned approximately 0.74% of Houlihan Lokey worth $90,579,000 as of its most recent filing with the SEC.

Other hedge funds have also made changes to their positions in the company. Norges Bank acquired a new position in Houlihan Lokey in the 4th quarter valued at approximately $115,478,000. Qube Research & Technologies Ltd increased its stake in Houlihan Lokey by 153.8% in 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 buying an additional 166,285 shares during the period. Capital Research Global Investors increased its stake in Houlihan Lokey by 19.7% in 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 buying an additional 157,605 shares during the period. Caisse de depot et placement du Quebec increased its stake in Houlihan Lokey by 411.1% in 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 buying an additional 137,237 shares during the period. Finally, Millennium Management LLC acquired a new position in Houlihan Lokey in the 1st quarter valued at approximately $18,964,000. Hedge funds and other institutional investors own 78.07% of the company's stock.

Insiders Place Their Bets

In related news, Chairman Scott L. Beiser sold 6,265 shares of the firm's stock in a transaction on Thursday, May 21st. The shares were sold at an average price of $150.26, for a total value of $941,378.90. Following the transaction, the chairman directly owned 6,265 shares in the company, valued at approximately $941,378.90. This trade represents a 50.00% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, General Counsel Christopher M. Crain sold 500 shares of the firm's stock in a transaction on Wednesday, April 1st. The shares were sold at an average price of $143.40, for a total transaction of $71,700.00. Following the completion of the transaction, the general counsel owned 500 shares in the company, valued at $71,700. The trade was a 50.00% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Company insiders own 22.83% of the company's stock.

Houlihan Lokey Stock Up 1.8%

Shares of HLI opened at $140.95 on Friday. The company's fifty day moving average is $149.80 and its 200-day moving average is $163.12. Houlihan Lokey, Inc. has a 12 month low of $134.41 and a 12 month high of $211.78. The firm has a market cap of $9.73 billion, a price-to-earnings ratio of 22.66, a price-to-earnings-growth ratio of 1.08 and a beta of 0.95.

Houlihan Lokey (NYSE:HLI - Get Free Report) last announced its quarterly earnings results on Wednesday, May 6th. The financial services provider reported $1.63 EPS for the quarter, missing the consensus estimate of $1.79 by ($0.16). Houlihan Lokey had a return on equity of 22.88% and a net margin of 16.26%.The business had revenue of $635.64 million for the quarter, compared to analyst estimates of $679.22 million. During the same quarter last year, the company earned $1.96 EPS. The business's revenue for the quarter was down 4.6% compared to the same quarter last year. As a group, research analysts predict that Houlihan Lokey, Inc. will post 8.54 earnings per share for the current fiscal 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 represents a $2.80 dividend on an annualized basis and a yield of 2.0%. The ex-dividend date is Monday, June 1st. This is a boost from Houlihan Lokey's previous quarterly dividend of $0.60. Houlihan Lokey's dividend payout ratio (DPR) is 45.02%.

Analyst Ratings Changes

Several research analysts have weighed in on HLI shares. Morgan Stanley dropped their price objective on shares of Houlihan Lokey from $205.00 to $193.00 and set an "overweight" rating on the stock in a research note on Thursday, April 9th. Zacks Research lowered shares of Houlihan Lokey from a "hold" rating to a "strong sell" rating in a research note on Wednesday, May 13th. Keefe, Bruyette & Woods dropped their price objective on shares of Houlihan Lokey from $177.00 to $172.00 and set an "outperform" rating on the stock in a research note on Thursday, May 7th. UBS Group set a $160.00 price target on shares of Houlihan Lokey in a research note on Thursday, May 7th. Finally, Weiss Ratings lowered shares of Houlihan Lokey from a "hold (c+)" rating to a "hold (c)" rating in a research note on Tuesday, April 21st. Five research analysts have rated the stock with a Buy rating, three have given a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, Houlihan Lokey presently has an average rating of "Hold" and an average price target of $191.29.

Houlihan Lokey Profile

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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