Houlihan Lokey, Inc. $HLI Shares Sold by NewEdge Advisors LLC

Key Points

• NewEdge Advisors cut its Houlihan Lokey stake by 64.5% in the first quarter, selling 13,915 shares and retaining 7,651 shares valued at approximately $1.1 million. Institutional investors collectively own 78.07% of the company.
• Houlihan Lokey reported weaker-than-expected quarterly results, with EPS of $1.35 versus the $1.64 consensus and revenue of $511 million versus estimates of $602.38 million. Revenue declined 15.6% year over year, while shares opened at $125.64, well below their 52-week high of $211.78.
• The company declared a quarterly dividend of $0.70, equivalent to an annualized $2.80 payout and a 2.2% yield. Analysts maintain a consensus “Moderate Buy” rating with an average price target of $166.38.

NewEdge Advisors LLC decreased its stake in shares of Houlihan Lokey, Inc. (NYSE:HLI - Free Report) by 64.5% in the 1st quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 7,651 shares of the financial services provider's stock after selling 13,915 shares during the period. NewEdge Advisors LLC's holdings in Houlihan Lokey were worth $1,099,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also made changes to their positions in the stock. Oakworth Capital Inc. purchased a new stake in Houlihan Lokey during the 4th quarter worth about $29,000. Core Wealth Advisors LLC purchased a new position in Houlihan Lokey in the 4th quarter valued at about $32,000. Eurizon Capital SGR S.p.A. acquired a new stake in shares of Houlihan Lokey during the 4th quarter worth about $33,000. Annis Gardner Whiting Capital Advisors LLC boosted its stake in shares of Houlihan Lokey by 103.4% during the 1st quarter. Annis Gardner Whiting Capital Advisors LLC now owns 236 shares of the financial services provider's stock worth $34,000 after purchasing an additional 120 shares during the last quarter. Finally, Strategic Wealth Investment Group LLC purchased a new stake in shares of Houlihan Lokey during the second quarter worth about $39,000. 78.07% of the stock is currently owned by hedge funds and other institutional investors.

Houlihan Lokey Stock Down 2.4%

HLI stock opened at $125.64 on Tuesday. The company has a market cap of $8.68 billion, a price-to-earnings ratio of 21.12, a PEG ratio of 1.46 and a beta of 0.95. The business has a fifty day simple moving average of $135.89 and a 200-day simple moving average of $147.29. Houlihan Lokey, Inc. has a 52 week low of $112.83 and a 52 week high of $211.78.

Houlihan Lokey (NYSE:HLI - Get Free Report) last posted its quarterly earnings results on Wednesday, July 29th. The financial services provider reported $1.35 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $1.64 by ($0.29). The firm had revenue of $511.00 million for the quarter, compared to analysts' expectations of $602.38 million. Houlihan Lokey had a net margin of 16.10% and a return on equity of 20.20%. Houlihan Lokey's revenue was down 15.6% on a year-over-year basis. During the same period last year, the firm posted $2.14 EPS. As a group, analysts expect that Houlihan Lokey, Inc. will post 7.01 earnings per share for the current fiscal year.

Houlihan Lokey Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, September 15th. Investors of record on Tuesday, September 1st will be issued a $0.70 dividend. The ex-dividend date is Tuesday, September 1st. This represents a $2.80 annualized dividend and a yield of 2.2%. Houlihan Lokey's dividend payout ratio (DPR) is presently 47.06%.

Insiders Place Their Bets

In other Houlihan Lokey news, Chairman Scott L. Beiser sold 6,265 shares of the business's stock in a transaction that occurred on Thursday, May 21st. The shares were sold at an average price of $150.26, for a total transaction of $941,378.90. Following the completion of the sale, the chairman directly owned 6,265 shares in the company, valued at $941,378.90. The trade was a 50.00% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 22.53% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

HLI has been the subject of a number of analyst reports. UBS Group cut their price objective on shares of Houlihan Lokey from $161.00 to $147.00 and set a "neutral" rating for the company in a research report on Thursday, July 30th. US Capital Advisors set a $187.00 price target on Houlihan Lokey in a research note on Thursday, July 9th. Weiss Ratings reiterated a "hold (c)" rating on shares of Houlihan Lokey in a research note on Friday, July 17th. Wolfe Research raised Houlihan Lokey from an "underperform" rating to a "peer perform" rating in a research note on Thursday, July 9th. Finally, The Goldman Sachs Group dropped their price objective on shares of Houlihan Lokey from $171.00 to $148.00 and set a "buy" rating for the company in a research note on Thursday, July 30th. Five equities research analysts have rated the stock with a Buy rating and five have given a Hold rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $166.38.

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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