Houlihan Lokey, Inc. $HLI Stock Sold by Assenagon Asset Management S.A.

Key Points

• Assenagon Asset Management cut its Houlihan Lokey stake by 98.5% in the third quarter, selling 124,612 shares and retaining 1,864 shares worth approximately $235,000. Institutional investors overall own 78.07% of HLI.
• Houlihan Lokey’s latest quarterly results fell short of expectations: EPS was $1.35 versus the $1.64 consensus estimate, while revenue declined 15.6% year over year to $511 million.
• HLI shares opened at $131.34, below the analyst consensus price target of $161.38. Analysts maintain a “Moderate Buy” consensus, and the company pays a quarterly dividend of $0.70 per share, yielding about 2.1%.

Assenagon Asset Management S.A. lowered its stake in shares of Houlihan Lokey, Inc. (NYSE:HLI - Free Report) by 98.5% in the 3rd quarter, according to the company in its most recent disclosure with the SEC. The firm owned 1,864 shares of the financial services provider's stock after selling 124,612 shares during the quarter. Assenagon Asset Management S.A.'s holdings in Houlihan Lokey were worth $235,000 as of its most recent SEC filing.

A number of other large investors have also added to or reduced their stakes in the stock. Annis Gardner Whiting Capital Advisors LLC lifted its holdings 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 purchasing an additional 120 shares in the last quarter. Harbor Investment Advisory LLC purchased a new position in Houlihan Lokey during the 2nd quarter valued at about $55,000. Versant Capital Management Inc increased its position in shares of Houlihan Lokey by 91.0% during the second quarter. Versant Capital Management Inc now owns 510 shares of the financial services provider's stock valued at $68,000 after buying an additional 243 shares during the period. Farther Finance Advisors LLC increased its position in shares of Houlihan Lokey by 131.1% during the third quarter. Farther Finance Advisors LLC now owns 587 shares of the financial services provider's stock valued at $74,000 after buying an additional 333 shares during the period. Finally, HB Wealth Management LLC lifted its holdings in shares of Houlihan Lokey by 9.1% in the first quarter. HB Wealth Management LLC now owns 1,630 shares of the financial services provider's stock worth $234,000 after buying an additional 136 shares in the last quarter. Hedge funds and other institutional investors own 78.07% of the company's stock.

Insider Transactions at Houlihan Lokey

In other news, General Counsel Christopher M. Crain sold 1,000 shares of the stock in a transaction dated Thursday, September 10th. The stock was sold at an average price of $140.15, for a total value of $140,150.00. Following the transaction, the general counsel directly owned 1,000 shares of the company's stock, valued at approximately $140,150. This represents a 50.00% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 22.53% of the company's stock.

Houlihan Lokey Stock Down 1.4%

Shares of NYSE:HLI opened at $131.34 on Friday. The firm has a fifty day simple moving average of $130.62 and a two-hundred day simple moving average of $138.72. Houlihan Lokey, Inc. has a 52 week low of $112.83 and a 52 week high of $204.18. The stock has a market capitalization of $9.07 billion, a P/E ratio of 22.07, a PEG ratio of 1.73 and a beta of 1.00.

Houlihan Lokey (NYSE:HLI - Get Free Report) last posted its quarterly earnings data on Wednesday, July 29th. The financial services provider reported $1.35 earnings per share 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 the consensus estimate of $602.38 million. Houlihan Lokey had a net margin of 16.10% and a return on equity of 20.20%. The company's revenue was down 15.6% on a year-over-year basis. During the same quarter last year, the firm earned $2.14 EPS. On average, analysts expect that Houlihan Lokey, Inc. will post 6.92 earnings per share for the current year.

Houlihan Lokey Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, September 15th. Shareholders of record on Tuesday, September 1st were given a dividend of $0.70 per share. This represents a $2.80 annualized dividend and a yield of 2.1%. The ex-dividend date of this dividend was Tuesday, September 1st. Houlihan Lokey's payout ratio is currently 47.06%.

Analyst Upgrades and Downgrades

Several equities analysts recently commented on HLI shares. Bank of America assumed coverage on shares of Houlihan Lokey in a research note on Friday, July 10th. They set a "buy" rating and a $164.00 price objective for the company. Wolfe Research raised shares of Houlihan Lokey from an "underperform" rating to a "peer perform" rating in a report on Thursday, July 9th. Citigroup raised shares of Houlihan Lokey to an "outperform" rating in a report on Friday, October 9th. Wall Street Zen downgraded Houlihan Lokey from a "hold" rating to a "sell" rating in a research report on Saturday, August 8th. Finally, Keefe, Bruyette & Woods dropped their price objective on Houlihan Lokey from $160.00 to $153.00 and set an "outperform" rating for the company in a research note on Thursday, July 30th. Seven analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company's stock. According to data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus price target of $161.38.

About Houlihan Lokey

Houlihan Lokey, Inc is a global investment banking and financial advisory firm that provides services to corporations, institutions, financial sponsors and governments. The company advises clients on mergers and acquisitions, capital raising, financial restructuring and other strategic and corporate finance matters.

Its business also includes valuation and financial opinions, including fairness opinions, solvency opinions and other transaction-related analyses. Houlihan Lokey serves clients across a range of industries, with particular expertise in areas such as technology, media and telecommunications; financial services; healthcare; industrials; consumer products and services; and energy and natural resources.

Founded in 1972 by Roger Houlihan and O.

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