Houlihan Lokey, Inc. $HLI Shares Sold by Alps Advisors Inc.

Key Points

• Alps Advisors cut its Houlihan Lokey stake by 13.7% in the third quarter, selling 12,520 shares and retaining 79,182 shares valued at about $10 million. Institutional investors collectively own 78.07% of the company.
• Houlihan Lokey reported quarterly earnings of $1.85 per share, beating the $1.63 consensus estimate; revenue of $692 million also topped forecasts and rose 4.9% year over year.
• The company declared a quarterly dividend of $0.70 per share, equivalent to a 1.9% annual yield. Analysts’ consensus rating was “Moderate Buy,” with an average price target of $160.44.

Alps Advisors Inc. lowered its stake in shares of Houlihan Lokey, Inc. (NYSE:HLI - Free Report) by 13.7% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 79,182 shares of the financial services provider's stock after selling 12,520 shares during the quarter. Alps Advisors Inc. owned about 0.11% of Houlihan Lokey worth $10,004,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors also recently added to or reduced their stakes in the company. Royal Bank of Canada grew its position in Houlihan Lokey by 2.8% during the 1st quarter. Royal Bank of Canada now owns 1,751,495 shares of the financial services provider's stock worth $251,551,000 after purchasing an additional 48,126 shares during the last quarter. Dimensional Fund Advisors LP raised its stake in Houlihan Lokey by 15.2% in the 1st quarter. Dimensional Fund Advisors LP now owns 616,519 shares of the financial services provider's stock worth $88,540,000 after acquiring an additional 81,182 shares during the last quarter. Van Berkom & Associates Inc. lifted its holdings in shares of Houlihan Lokey by 7.6% during the first quarter. Van Berkom & Associates Inc. now owns 405,978 shares of the financial services provider's stock worth $58,307,000 after purchasing an additional 28,600 shares during the period. Fenimore Asset Management Inc increased its holdings in Houlihan Lokey by 52.9% in the 3rd quarter. Fenimore Asset Management Inc now owns 256,760 shares of the financial services provider's stock worth $32,439,000 after buying an additional 88,862 shares during the period. Finally, Ancora Advisors LLC purchased a new position in Houlihan Lokey during the 2nd quarter worth approximately $28,750,000. Institutional investors own 78.07% of the company's stock.

Houlihan Lokey Price Performance

Shares of HLI stock opened at $145.67 on Friday. The firm has a market cap of $10.06 billion, a PE ratio of 24.44, a price-to-earnings-growth ratio of 1.72 and a beta of 0.90. The company has a 50-day moving average of $133.05 and a two-hundred day moving average of $143.96. Houlihan Lokey, Inc. has a 1-year low of $112.83 and a 1-year high of $195.06.

Houlihan Lokey (NYSE:HLI - Get Free Report) last issued its quarterly earnings results on Wednesday, October 28th. The financial services provider reported $1.85 earnings per share for the quarter, topping the consensus estimate of $1.63 by $0.22. Houlihan Lokey had a return on equity of 19.94% and a net margin of 15.78%. The company had revenue of $692.00 million for the quarter, compared to the consensus estimate of $625.88 million. During the same quarter in the prior year, the business earned $1.84 EPS. Houlihan Lokey's revenue was up 4.9% on a year-over-year basis. Sell-side analysts anticipate that Houlihan Lokey, Inc. will post 7.24 EPS for the current fiscal year.

Houlihan Lokey Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, December 15th. Investors of record on Tuesday, December 1st will be issued a $0.70 dividend. This represents a $2.80 annualized dividend and a yield of 1.9%. The ex-dividend date is Tuesday, December 1st. Houlihan Lokey's dividend payout ratio is currently 46.98%.

Wall Street Analyst Weigh In

A number of brokerages have issued reports on HLI. UBS Group boosted their price target on Houlihan Lokey from $147.00 to $154.00 and gave the company a "neutral" rating in a report on Wednesday, October 7th. JPMorgan Chase & Co. raised their price objective on shares of Houlihan Lokey from $147.00 to $153.00 and gave the stock a "neutral" rating in a research note on Thursday, October 29th. BMO Capital Markets dropped their price objective on shares of Houlihan Lokey from $160.00 to $145.00 and set an "outperform" rating on the stock in a research note on Monday, August 3rd. Keefe, Bruyette & Woods cut their target price on shares of Houlihan Lokey from $160.00 to $153.00 and set an "outperform" rating for the company in a report on Thursday, July 30th. Finally, Wall Street Zen upgraded shares of Houlihan Lokey from a "sell" rating to a "hold" rating in a research note on Saturday, October 31st. Seven research analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company's stock. According to MarketBeat, Houlihan Lokey currently has an average rating of "Moderate Buy" and a consensus price target of $160.44.

Insider Buying and Selling

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

Houlihan Lokey Profile

Houlihan Lokey, Inc is a global investment bank headquartered in Los Angeles. Founded in 1972, the firm provides financial advice and related services to corporations, financial sponsors, governments and other organizations.

The company's main businesses include corporate finance, financial restructuring and financial and valuation advisory. Its services include advising on mergers and acquisitions, debt and equity financing, restructuring transactions, and business and asset valuations.

Houlihan Lokey serves clients across the Americas, Europe, the Middle East and Asia-Pacific through an international office network.

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