Alps Advisors Inc. Buys 8,177 Shares of Houlihan Lokey, Inc. (NYSE:HLI)

Alps Advisors Inc. lifted its stake in shares of Houlihan Lokey, Inc. (NYSE:HLI - Free Report) by 6.8% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 128,160 shares of the financial services provider's stock after purchasing an additional 8,177 shares during the quarter. Alps Advisors Inc. owned about 0.18% of Houlihan Lokey worth $20,698,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also added to or reduced their stakes in HLI. Thurston Springer Miller Herd & Titak Inc. bought a new stake in Houlihan Lokey during the 1st quarter valued at $54,000. Versant Capital Management Inc grew its position in Houlihan Lokey by 744.2% during the first quarter. Versant Capital Management Inc now owns 363 shares of the financial services provider's stock valued at $59,000 after buying an additional 320 shares during the period. First Horizon Advisors Inc. raised its position in Houlihan Lokey by 17.5% in the first quarter. First Horizon Advisors Inc. now owns 550 shares of the financial services provider's stock worth $89,000 after acquiring an additional 82 shares during the period. Golden State Wealth Management LLC grew its position in shares of Houlihan Lokey by 101.0% during the 1st quarter. Golden State Wealth Management LLC now owns 613 shares of the financial services provider's stock valued at $99,000 after acquiring an additional 308 shares during the period. Finally, Kapitalo Investimentos Ltda bought a new stake in shares of Houlihan Lokey in the 4th quarter worth approximately $105,000. Institutional investors own 78.07% of the company's stock.

Houlihan Lokey Trading Down 0.7%

Shares of HLI traded down $1.34 during trading hours on Friday, reaching $189.41. 353,005 shares of the company's stock traded hands, compared to its average volume of 359,723. Houlihan Lokey, Inc. has a 12 month low of $137.99 and a 12 month high of $192.44. The stock has a market cap of $13.22 billion, a PE ratio of 32.54 and a beta of 0.83. The firm's 50 day simple moving average is $177.06 and its 200-day simple moving average is $170.84.

Houlihan Lokey (NYSE:HLI - Get Free Report) last released its quarterly earnings results on Wednesday, May 7th. The financial services provider reported $1.96 EPS for the quarter, topping analysts' consensus estimates of $1.61 by $0.35. The business had revenue of $666.42 million during the quarter, compared to analysts' expectations of $628.25 million. Houlihan Lokey had a net margin of 16.73% and a return on equity of 21.61%. The business's quarterly revenue was up 28.0% compared to the same quarter last year. During the same quarter in the previous year, the company earned $1.27 EPS. As a group, analysts expect that Houlihan Lokey, Inc. will post 5.98 earnings per share for the current fiscal year.

Houlihan Lokey Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Sunday, June 15th. Shareholders of record on Monday, June 2nd were given a dividend of $0.60 per share. This is an increase from Houlihan Lokey's previous quarterly dividend of $0.57. The ex-dividend date of this dividend was Monday, June 2nd. This represents a $2.40 dividend on an annualized basis and a yield of 1.27%. Houlihan Lokey's dividend payout ratio (DPR) is presently 41.24%.

Insiders Place Their Bets

In other news, General Counsel Christopher M. Crain sold 500 shares of the stock in a transaction dated Monday, June 2nd. The stock was sold at an average price of $173.02, for a total transaction of $86,510.00. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Chairman Scott L. Beiser sold 8,008 shares of the company's stock in a transaction that occurred on Monday, May 19th. The stock was sold at an average price of $178.71, for a total value of $1,431,109.68. The disclosure for this sale can be found here. Insiders sold a total of 13,508 shares of company stock valued at $2,431,670 over the last 90 days. Insiders own 23.68% of the company's stock.

Wall Street Analyst Weigh In

A number of research analysts have recently commented on the company. Keefe, Bruyette & Woods upped their price target on Houlihan Lokey from $183.00 to $185.00 and gave the company a "market perform" rating in a research report on Monday, May 12th. Morgan Stanley reiterated an "overweight" rating and issued a $192.00 price objective (up from $159.00) on shares of Houlihan Lokey in a research note on Monday, June 23rd. Wells Fargo & Company increased their target price on Houlihan Lokey from $185.00 to $209.00 and gave the stock an "overweight" rating in a research report on Friday. Finally, Wall Street Zen cut Houlihan Lokey from a "buy" rating to a "hold" rating in a research report on Friday, June 27th. Four research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of "Hold" and an average target price of $197.00.

Houlihan Lokey Company Profile

Houlihan Lokey, Inc, an investment banking company, provides merger and acquisition (M&A), capital market, financial restructuring, and financial and valuation advisory services worldwide. It operates in three segments: Corporate Finance, Financial Restructuring, and Financial and Valuation Advisory.