Houlihan Lokey, Inc. (NYSE:HLI) Shares Bought by Entropy Technologies LP

Key Points

• Entropy Technologies LP increased its stake in Houlihan Lokey, Inc. by 54.7% during the first quarter, now holding 11,616 shares worth approximately $1.88 million.
• Wall Street analysts are optimistic, with multiple firms raising their target prices for Houlihan Lokey, with a consensus price target of $206.40 and an average rating of "Moderate Buy."
• Houlihan Lokey reported a 17.8% year-over-year increase in revenue, with Q2 EPS beating estimates at $2.14.

Entropy Technologies LP grew its position in shares of Houlihan Lokey, Inc. (NYSE:HLI - Free Report) by 54.7% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 11,616 shares of the financial services provider's stock after acquiring an additional 4,109 shares during the quarter. Entropy Technologies LP's holdings in Houlihan Lokey were worth $1,876,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Covestor Ltd increased its stake in Houlihan Lokey by 59.4% during the first quarter. Covestor Ltd now owns 990 shares of the financial services provider's stock worth $160,000 after acquiring an additional 369 shares during the last quarter. Cynosure Group LLC increased its stake in Houlihan Lokey by 25.8% during the first quarter. Cynosure Group LLC now owns 2,112 shares of the financial services provider's stock worth $341,000 after acquiring an additional 433 shares during the last quarter. Townsquare Capital LLC grew its stake in shares of Houlihan Lokey by 45.9% in the first quarter. Townsquare Capital LLC now owns 42,488 shares of the financial services provider's stock valued at $6,862,000 after buying an additional 13,374 shares in the last quarter. National Bank of Canada FI acquired a new stake in shares of Houlihan Lokey in the first quarter valued at about $321,000. Finally, Deutsche Bank AG grew its stake in shares of Houlihan Lokey by 33.2% in the first quarter. Deutsche Bank AG now owns 9,606 shares of the financial services provider's stock valued at $1,551,000 after buying an additional 2,394 shares in the last quarter. 78.07% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Houlihan Lokey

In related news, General Counsel Christopher M. Crain sold 500 shares of the firm's stock in a transaction that occurred on Monday, June 2nd. The stock was sold at an average price of $173.02, for a total value of $86,510.00. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, Chairman Irwin Gold sold 5,000 shares of the firm's stock in a transaction that occurred on Monday, June 30th. The shares were sold at an average price of $182.81, for a total value of $914,050.00. The disclosure for this sale can be found here. Insiders have sold a total of 13,508 shares of company stock worth $2,431,670 in the last three months. 22.83% of the stock is owned by company insiders.

Houlihan Lokey Stock Down 2.0%

NYSE:HLI traded down $3.89 during trading hours on Friday, reaching $190.26. 91,270 shares of the stock were exchanged, compared to its average volume of 402,664. The firm has a 50 day simple moving average of $186.18 and a 200-day simple moving average of $173.71. Houlihan Lokey, Inc. has a 52 week low of $137.99 and a 52 week high of $198.78. The stock has a market capitalization of $13.28 billion, a P/E ratio of 32.03 and a beta of 0.86.

Houlihan Lokey (NYSE:HLI - Get Free Report) last released its earnings results on Tuesday, July 29th. The financial services provider reported $2.14 EPS for the quarter, topping analysts' consensus estimates of $1.69 by $0.45. Houlihan Lokey had a return on equity of 23.75% and a net margin of 16.46%. The company had revenue of $605.35 million for the quarter, compared to the consensus estimate of $573.07 million. During the same quarter last year, the business posted $1.22 EPS. Houlihan Lokey's quarterly revenue was up 17.8% compared to the same quarter last year. As a group, analysts expect that Houlihan Lokey, Inc. will post 5.98 earnings per share for the current year.

Houlihan Lokey Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, September 15th. Investors of record on Tuesday, September 2nd will be given a $0.60 dividend. This represents a $2.40 annualized dividend and a yield of 1.3%. The ex-dividend date is Tuesday, September 2nd. Houlihan Lokey's dividend payout ratio (DPR) is currently 40.40%.

Wall Street Analyst Weigh In

A number of equities research analysts have recently issued reports on the company. Keefe, Bruyette & Woods upgraded Houlihan Lokey from a "hold" rating to a "moderate buy" rating and increased their target price for the company from $185.00 to $232.00 in a research note on Monday, July 14th. Morgan Stanley reiterated an "overweight" rating and issued a $192.00 target price (up previously from $159.00) on shares of Houlihan Lokey in a research note on Monday, June 23rd. Wall Street Zen lowered Houlihan Lokey from a "buy" rating to a "hold" rating in a research note on Saturday, August 2nd. Finally, Wells Fargo & Company increased their target price on Houlihan Lokey from $185.00 to $209.00 and gave the company an "overweight" rating in a research note on Friday, July 11th. Three research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average target price of $206.40.

About Houlihan Lokey

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.