Houlihan Lokey, Inc. $HLI Shares Sold by Walleye Capital LLC

Key Points

• Walleye Capital sharply reduced its Houlihan Lokey stake by 97.6% in the first quarter, selling more than 112,000 shares and ending with just 2,788 shares worth about $400,000.
• Insider selling also stood out: Chairman Scott L. Beiser sold 6,265 shares on May 21 at an average price of $150.26, cutting his ownership by 50%.
• Analysts are mixed but broadly constructive on HLI, with a Moderate Buy consensus and an average price target of $180.50; the company also recently raised its quarterly dividend to $0.70 per share.

Walleye Capital LLC lowered its stake in Houlihan Lokey, Inc. (NYSE:HLI - Free Report) by 97.6% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 2,788 shares of the financial services provider's stock after selling 112,360 shares during the period. Walleye Capital LLC's holdings in Houlihan Lokey were worth $400,000 at the end of the most recent quarter.

Several other hedge funds have also recently made changes to their positions in the company. Flagship Harbor Advisors LLC purchased a new stake in Houlihan Lokey during the 4th quarter valued at about $26,000. Oakworth Capital Inc. acquired a new stake in shares of Houlihan Lokey during the fourth quarter worth about $29,000. Core Wealth Advisors LLC purchased a new stake in Houlihan Lokey in the fourth quarter valued at approximately $32,000. Eurizon Capital SGR S.p.A. acquired a new position in Houlihan Lokey in the 4th quarter worth approximately $33,000. Finally, Annis Gardner Whiting Capital Advisors LLC raised its position in 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 buying an additional 120 shares during the last quarter. 78.07% of the stock is owned by institutional investors and hedge funds.

Insider Activity at Houlihan Lokey

In other news, Chairman Scott L. Beiser sold 6,265 shares of the firm's stock in a transaction that occurred on Thursday, May 21st. The stock was sold at an average price of $150.26, for a total value of $941,378.90. Following the transaction, the chairman owned 6,265 shares in the company, valued at $941,378.90. 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 through this link. 22.83% of the stock is owned by insiders.

Analysts Set New Price Targets

A number of research firms have recently weighed in on HLI. Weiss Ratings reiterated a "hold (c)" rating on shares of Houlihan Lokey in a research note on Friday, July 17th. Bank of America assumed coverage on Houlihan Lokey in a research report on Friday, July 10th. They set a "buy" rating and a $164.00 price target on the stock. Zacks Research upgraded Houlihan Lokey from a "strong sell" rating to a "hold" rating in a research note on Thursday, June 11th. UBS Group raised their target price on Houlihan Lokey from $160.00 to $161.00 and gave the stock a "neutral" rating in a report on Wednesday, July 8th. Finally, US Capital Advisors set a $187.00 price target on Houlihan Lokey in a report on Thursday, July 9th. Five research analysts have rated the stock with a Buy rating and five have issued a Hold rating to the stock. According to data from MarketBeat, Houlihan Lokey currently has a consensus rating of "Moderate Buy" and a consensus price target of $180.50.

Houlihan Lokey Stock Performance

Shares of NYSE HLI opened at $140.17 on Friday. The firm has a fifty day moving average of $140.85 and a 200 day moving average of $153.78. The firm has a market cap of $9.68 billion, a PE ratio of 22.54, a PEG ratio of 1.17 and a beta of 0.95. Houlihan Lokey, Inc. has a one year low of $130.72 and a one year high of $211.78.

Houlihan Lokey (NYSE:HLI - Get Free Report) last posted its quarterly earnings data on Wednesday, May 6th. The financial services provider reported $1.63 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.79 by ($0.16). The company had revenue of $635.64 million for the quarter, compared to analysts' expectations of $679.22 million. Houlihan Lokey had a net margin of 16.26% and a return on equity of 22.88%. The business's revenue for the quarter was down 4.6% on a year-over-year basis. During the same period in the previous year, the business earned $1.96 earnings per share. On average, equities analysts predict that Houlihan Lokey, Inc. will post 7.91 EPS for the current fiscal year.

Houlihan Lokey Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, June 15th. Shareholders of record on Monday, June 1st were paid a dividend of $0.70 per share. This is an increase from Houlihan Lokey's previous quarterly dividend of $0.60. The ex-dividend date was Monday, June 1st. This represents a $2.80 annualized dividend and a yield of 2.0%. Houlihan Lokey's dividend payout ratio (DPR) is presently 45.02%.

About Houlihan Lokey

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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