Houlihan Lokey, Inc. $HLI Shares Newly Purchased by Salvus Wealth Management LLC

Key Points

• Salvus Wealth Management acquired 18,476 Houlihan Lokey shares worth approximately $2.33 million, while institutional investors collectively own 78.07% of the company.
• Analysts maintain a “Moderate Buy” consensus with an average price target of $161.38, despite recent target reductions and mixed rating changes.
• HLI shares traded at $129.40, down 0.8%, after the company reported weaker-than-expected quarterly results: EPS of $1.35 versus $1.64 expected and revenue down 15.6% year over year. The company also pays a quarterly dividend of $0.70, yielding about 2.2%.

Salvus Wealth Management LLC bought a new position in Houlihan Lokey, Inc. (NYSE:HLI - Free Report) in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund bought 18,476 shares of the financial services provider's stock, valued at approximately $2,334,000. Houlihan Lokey accounts for approximately 1.2% of Salvus Wealth Management LLC's portfolio, making the stock its 20th largest position.

A number of other institutional investors and hedge funds also recently modified their holdings of HLI. Wedmont Private Capital purchased a new stake in shares of Houlihan Lokey in the third quarter worth about $252,000. Diversified Management Inc. bought a new position in Houlihan Lokey during the 3rd quarter worth $2,294,000. GAMMA Investing LLC boosted its position in shares of Houlihan Lokey by 53.1% during the third quarter. GAMMA Investing LLC now owns 12,464 shares of the financial services provider's stock worth $1,575,000 after buying an additional 4,324 shares during the period. Galvin Gaustad & Stein LLC bought a new position in Houlihan Lokey in the 3rd quarter valued at about $253,000. Finally, Farther Finance Advisors LLC raised its holdings in Houlihan Lokey by 131.1% during the third quarter. Farther Finance Advisors LLC now owns 587 shares of the financial services provider's stock worth $74,000 after purchasing an additional 333 shares in the last quarter. Institutional investors and hedge funds own 78.07% of the company's stock.

Insider Activity at Houlihan Lokey

In other news, General Counsel Christopher M. Crain sold 1,000 shares of the firm's stock in a transaction on Thursday, September 10th. The stock was sold at an average price of $140.15, for a total value of $140,150.00. Following the completion of the sale, the general counsel owned 1,000 shares of the company's stock, valued at $140,150. This trade represents a 50.00% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. 22.53% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

A number of equities research analysts have weighed in on HLI shares. Morgan Stanley cut their price target on shares of Houlihan Lokey from $177.00 to $165.00 and set an "overweight" rating for the company in a report on Thursday, October 8th. Wolfe Research raised shares of Houlihan Lokey from an "underperform" rating to a "peer perform" rating in a research note on Thursday, July 9th. The Goldman Sachs Group dropped their target price on shares of Houlihan Lokey from $171.00 to $148.00 and set a "buy" rating on the stock in a report on Thursday, July 30th. UBS Group increased their target price on shares of Houlihan Lokey from $147.00 to $154.00 and gave the company a "neutral" rating in a research note on Wednesday, October 7th. Finally, Citigroup upgraded shares of Houlihan Lokey to an "outperform" rating in a report on Friday. Seven 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 stock. According to data from MarketBeat, Houlihan Lokey presently has an average rating of "Moderate Buy" and a consensus target price of $161.38.

Houlihan Lokey Stock Down 0.8%

Shares of Houlihan Lokey stock traded down $0.98 during trading on Tuesday, hitting $129.40. The stock had a trading volume of 810,554 shares, compared to its average volume of 732,850. The stock has a 50 day simple moving average of $130.26 and a 200 day simple moving average of $139.46. The company has a market capitalization of $8.94 billion, a PE ratio of 21.75, a P/E/G ratio of 1.51 and a beta of 1.00. Houlihan Lokey, Inc. has a 1 year low of $112.83 and a 1 year high of $204.18.

Houlihan Lokey (NYSE:HLI - Get Free Report) last issued its quarterly earnings results on Wednesday, July 29th. The financial services provider reported $1.35 EPS for the quarter, missing the consensus estimate of $1.64 by ($0.29). Houlihan Lokey had a net margin of 16.10% and a return on equity of 20.20%. The firm had revenue of $511.00 million during the quarter, compared to analysts' expectations of $602.38 million. During the same quarter last year, the company posted $2.14 EPS. The firm's revenue was down 15.6% compared to the same quarter last year. As a group, equities analysts expect that Houlihan Lokey, Inc. will post 6.85 earnings per share for the current fiscal year.

Houlihan Lokey Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, September 15th. Stockholders of record on Tuesday, September 1st were issued a $0.70 dividend. The ex-dividend date was Tuesday, September 1st. This represents a $2.80 dividend on an annualized basis and a dividend yield of 2.2%. Houlihan Lokey's dividend payout ratio is presently 47.06%.

Houlihan Lokey Profile

Houlihan Lokey, Inc is a global investment bank that provides financial advisory services to corporations, institutions, governments and other organizations. The firm focuses on complex strategic, financial and restructuring matters and is known for its independent advisory model.

Its principal businesses include corporate finance, financial restructuring, and financial and valuation advisory. Services include mergers and acquisitions advice, capital-raising and other strategic transactions, restructuring and liability management, fairness opinions, solvency analysis, financial reporting valuations, and transaction opinions.

Founded in 1972, Houlihan Lokey serves clients through offices across North America, Europe, the Asia-Pacific region and the Middle East.

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