Whittier Trust Co. Raises Holdings in Houlihan Lokey, Inc. (NYSE:HLI)

Whittier Trust Co. raised its holdings in shares of Houlihan Lokey, Inc. (NYSE:HLI - Free Report) by 2.2% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 68,106 shares of the financial services provider's stock after acquiring an additional 1,496 shares during the quarter. Whittier Trust Co. owned about 0.10% of Houlihan Lokey worth $10,999,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors have also added to or reduced their stakes in the stock. Bogart Wealth LLC boosted its position in shares of Houlihan Lokey by 111.1% in the first quarter. Bogart Wealth LLC now owns 152 shares of the financial services provider's stock valued at $25,000 after acquiring an additional 80 shares during the period. Thurston Springer Miller Herd & Titak Inc. bought a new position in Houlihan Lokey in the 1st quarter valued at $54,000. Versant Capital Management Inc grew its position in shares of Houlihan Lokey by 744.2% during the 1st quarter. Versant Capital Management Inc now owns 363 shares of the financial services provider's stock valued at $59,000 after purchasing an additional 320 shares in the last quarter. First Horizon Advisors Inc. increased its holdings in shares of 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 purchasing an additional 82 shares during the period. Finally, Golden State Wealth Management LLC raised its position in shares of Houlihan Lokey by 101.0% in the first quarter. Golden State Wealth Management LLC now owns 613 shares of the financial services provider's stock worth $99,000 after buying an additional 308 shares in the last quarter. Hedge funds and other institutional investors own 78.07% of the company's stock.

Wall Street Analysts Forecast Growth

HLI has been the subject of a number of research analyst reports. Keefe, Bruyette & Woods upgraded Houlihan Lokey from a "hold" rating to a "moderate buy" rating and lifted their price target for the company from $185.00 to $232.00 in a research report on Monday. Wall Street Zen raised shares of Houlihan Lokey from a "hold" rating to a "buy" rating in a report on Saturday, July 12th. Wells Fargo & Company upped their target price on shares of Houlihan Lokey from $185.00 to $209.00 and gave the stock an "overweight" rating in a research report on Friday, July 11th. Finally, Morgan Stanley reaffirmed an "overweight" rating and set a $192.00 price target (up previously from $159.00) on shares of Houlihan Lokey in a research note on Monday, June 23rd. Two research analysts have rated the stock with a hold rating and four have given a buy rating to the company's stock. According to MarketBeat, the company has an average rating of "Moderate Buy" and a consensus target price of $206.40.

Insider Buying and Selling at Houlihan Lokey

In other news, General Counsel Christopher M. Crain sold 500 shares of Houlihan Lokey stock in a transaction that occurred on Monday, June 2nd. The shares were sold at an average price of $173.02, for a total transaction of $86,510.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Chairman Scott L. Beiser sold 8,008 shares of the business'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. In the last three months, insiders have sold 13,508 shares of company stock valued at $2,431,670. 23.68% of the stock is currently owned by corporate insiders.

Houlihan Lokey Stock Up 2.2%

Shares of NYSE HLI traded up $4.25 during midday trading on Thursday, reaching $198.75. The company had a trading volume of 135,724 shares, compared to its average volume of 360,394. The firm's fifty day moving average price is $178.82 and its 200-day moving average price is $171.21. Houlihan Lokey, Inc. has a one year low of $137.99 and a one year high of $198.75. The stock has a market cap of $13.87 billion, a PE ratio of 34.08 and a beta of 0.83.

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

Houlihan Lokey Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Sunday, June 15th. Shareholders of record on Monday, June 2nd were issued a $0.60 dividend. The ex-dividend date was Monday, June 2nd. This is a positive change from Houlihan Lokey's previous quarterly dividend of $0.57. This represents a $2.40 annualized dividend and a yield of 1.21%. Houlihan Lokey's dividend payout ratio (DPR) is 41.24%.

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.