Houlihan Lokey, Inc. $HLI Shares Sold by Vestcor Inc

Key Points

• Vestcor Inc cut its Houlihan Lokey stake by 62.3% in the fourth quarter, selling 10,518 shares and leaving it with 6,377 shares valued at about $1.11 million.
• Insider selling was notable, with General Counsel Christopher M. Crain and Chairman Scott L. Beiser both reducing their ownership through recent stock sales.
• Houlihan Lokey missed quarterly earnings and revenue estimates, reporting $1.63 EPS on revenue of $635.64 million, while the company also raised its quarterly dividend to $0.70 per share.

Vestcor Inc cut its holdings in Houlihan Lokey, Inc. (NYSE:HLI - Free Report) by 62.3% in the 4th quarter, according to its most recent 13F filing with the SEC. The firm owned 6,377 shares of the financial services provider's stock after selling 10,518 shares during the period. Vestcor Inc's holdings in Houlihan Lokey were worth $1,111,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also modified their holdings of the company. Flagship Harbor Advisors LLC bought a new stake in Houlihan Lokey in the 4th quarter valued at about $26,000. Oakworth Capital Inc. bought a new stake in Houlihan Lokey in the 4th quarter valued at about $29,000. Core Wealth Advisors LLC bought a new stake in Houlihan Lokey in the 4th quarter valued at about $32,000. Eurizon Capital SGR S.p.A. bought a new stake in Houlihan Lokey in the 4th quarter valued at about $33,000. Finally, Strategic Wealth Investment Group LLC bought a new stake in shares of Houlihan Lokey during the 2nd quarter worth about $39,000. 78.07% of the stock is owned by institutional investors and hedge funds.

Insider Activity at Houlihan Lokey

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

Wall Street Analysts Forecast Growth

A number of analysts have commented on the stock. Morgan Stanley dropped their price target on shares of Houlihan Lokey from $205.00 to $193.00 and set an "overweight" rating on the stock in a research report on Thursday, April 9th. Keefe, Bruyette & Woods dropped their price target on shares of Houlihan Lokey from $177.00 to $172.00 and set an "outperform" rating on the stock in a research report on Thursday, May 7th. UBS Group set a $160.00 price target on shares of Houlihan Lokey in a research report on Thursday, May 7th. Zacks Research downgraded shares of Houlihan Lokey from a "hold" rating to a "strong sell" rating in a research report on Wednesday, May 13th. Finally, Weiss Ratings downgraded shares of Houlihan Lokey from a "hold (c+)" rating to a "hold (c)" rating in a research report on Tuesday, April 21st. Five 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 company's stock. According to MarketBeat.com, Houlihan Lokey currently has a consensus rating of "Hold" and a consensus target price of $191.29.

Houlihan Lokey Trading Down 1.7%

HLI stock opened at $136.86 on Tuesday. The firm's 50-day moving average is $149.66 and its two-hundred day moving average is $162.62. Houlihan Lokey, Inc. has a 52 week low of $134.41 and a 52 week high of $211.78. The company has a market capitalization of $9.45 billion, a price-to-earnings ratio of 22.00, a price-to-earnings-growth ratio of 1.08 and a beta of 0.95.

Houlihan Lokey (NYSE:HLI - Get Free Report) last released its earnings results on Wednesday, May 6th. The financial services provider reported $1.63 EPS for the quarter, missing analysts' consensus estimates 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 during the quarter, compared to the consensus estimate of $679.22 million. During the same quarter in the previous year, the firm earned $1.96 earnings per share. The firm's revenue for the quarter was down 4.6% compared to the same quarter last year. On average, equities research analysts predict that Houlihan Lokey, Inc. will post 8.54 earnings per share for the current year.

Houlihan Lokey Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, June 15th. Stockholders of record on Monday, June 1st will be given a $0.70 dividend. This represents a $2.80 annualized dividend and a dividend yield of 2.0%. This is an increase from Houlihan Lokey's previous quarterly dividend of $0.60. The ex-dividend date of this dividend is Monday, June 1st. Houlihan Lokey's payout ratio is 45.02%.

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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