Houlihan Lokey, Inc. (NYSE:HLI) Shares Sold by Envestnet Asset Management Inc.

Envestnet Asset Management Inc. trimmed its holdings in Houlihan Lokey, Inc. (NYSE:HLI - Free Report) by 4.7% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 495,239 shares of the financial services provider's stock after selling 24,184 shares during the period. Envestnet Asset Management Inc. owned 0.71% of Houlihan Lokey worth $79,981,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also recently added to or reduced their stakes in HLI. GAMMA Investing LLC boosted its position in Houlihan Lokey by 39,574.9% during the first quarter. GAMMA Investing LLC now owns 686,375 shares of the financial services provider's stock worth $1,108,500,000 after acquiring an additional 684,645 shares during the last quarter. Norges Bank purchased a new position in shares of Houlihan Lokey during the 4th quarter worth $114,047,000. Invesco Ltd. lifted its stake in shares of Houlihan Lokey by 122.7% during the 4th quarter. Invesco Ltd. now owns 1,041,201 shares of the financial services provider's stock worth $180,815,000 after purchasing an additional 573,745 shares during the period. Congress Asset Management Co. acquired a new stake in shares of Houlihan Lokey during the first quarter worth $81,420,000. Finally, Prudential Financial Inc. grew its position in shares of Houlihan Lokey by 731.6% in the fourth quarter. Prudential Financial Inc. now owns 347,469 shares of the financial services provider's stock valued at $60,341,000 after purchasing an additional 305,685 shares during the period. 78.07% of the stock is currently owned by hedge funds and other institutional investors.

Houlihan Lokey Stock Performance

HLI traded down $1.34 on Friday, reaching $189.41. 353,005 shares of the company's stock were exchanged, compared to its average volume of 374,406. Houlihan Lokey, Inc. has a twelve month low of $137.99 and a twelve month high of $192.44. The company's 50 day moving average is $176.61 and its 200-day moving average is $170.74. The company has a market cap of $13.22 billion, a price-to-earnings ratio of 30.37 and a beta of 0.83.

Houlihan Lokey (NYSE:HLI - Get Free Report) last issued its earnings results on Wednesday, May 7th. The financial services provider reported $1.96 EPS for the quarter, beating analysts' consensus estimates of $1.61 by $0.35. Houlihan Lokey had a net margin of 16.73% and a return on equity of 21.61%. The business had revenue of $666.42 million for the quarter, compared to the consensus estimate of $628.25 million. During the same quarter last year, the firm posted $1.27 EPS. The business's revenue for the quarter was up 28.0% compared to the same quarter last year. Sell-side analysts forecast that Houlihan Lokey, Inc. will post 5.98 EPS for the current year.

Houlihan Lokey Increases Dividend

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

Insider Activity

In other news, Chairman Scott L. Beiser sold 8,008 shares of the company's stock in a transaction on Monday, May 19th. The shares were sold at an average price of $178.71, for a total value of $1,431,109.68. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Chairman Irwin Gold sold 5,000 shares of the business's stock in a transaction on Monday, June 30th. The stock was sold at an average price of $182.81, for a total transaction of $914,050.00. The disclosure for this sale can be found here. Insiders have sold 13,508 shares of company stock worth $2,431,670 over the last 90 days. Company insiders own 23.68% of the company's stock.

Analyst Upgrades and Downgrades

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