Envestnet Asset Management Inc. Sells 24,184 Shares of Houlihan Lokey, Inc. (NYSE:HLI)

Envestnet Asset Management Inc. decreased its holdings in Houlihan Lokey, Inc. (NYSE:HLI - Free Report) by 4.7% during the 1st quarter, according to the company in its most recent filing with the SEC. 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 approximately 0.71% of Houlihan Lokey worth $79,981,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently modified their holdings of the business. Nicolet Advisory Services LLC increased its stake in shares of Houlihan Lokey by 4.8% in the 4th quarter. Nicolet Advisory Services LLC now owns 1,532 shares of the financial services provider's stock valued at $258,000 after purchasing an additional 70 shares during the last quarter. Mariner LLC increased its stake in shares of Houlihan Lokey by 0.7% in the 4th quarter. Mariner LLC now owns 12,220 shares of the financial services provider's stock valued at $2,122,000 after purchasing an additional 81 shares during the last quarter. First Horizon Advisors Inc. increased its stake in shares of Houlihan Lokey by 17.5% in the 1st quarter. First Horizon Advisors Inc. now owns 550 shares of the financial services provider's stock valued at $89,000 after purchasing an additional 82 shares during the last quarter. Benjamin Edwards Inc. increased its stake in shares of Houlihan Lokey by 5.7% in the 4th quarter. Benjamin Edwards Inc. now owns 1,636 shares of the financial services provider's stock valued at $284,000 after purchasing an additional 88 shares during the last quarter. Finally, M&T Bank Corp increased its stake in shares of Houlihan Lokey by 2.5% in the 4th quarter. M&T Bank Corp now owns 3,771 shares of the financial services provider's stock valued at $655,000 after purchasing an additional 92 shares during the last quarter. Institutional investors own 78.07% of the company's stock.

Insider Activity

In other news, Chairman Irwin Gold sold 5,000 shares of the business's stock in a transaction dated Monday, June 30th. The stock was sold at an average price of $182.81, for a total value of $914,050.00. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, General Counsel Christopher M. Crain sold 500 shares of the business's stock in a transaction dated Monday, June 2nd. The shares were sold at an average price of $173.02, for a total value of $86,510.00. The disclosure for this sale can be found here. Insiders have sold 13,508 shares of company stock valued at $2,431,670 in the last ninety days. 23.68% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

Several equities analysts have recently issued reports on the company. Wells Fargo & Company lifted their price target on Houlihan Lokey from $185.00 to $209.00 and gave the company an "overweight" rating in a research note on Friday. Keefe, Bruyette & Woods raised Houlihan Lokey from a "market perform" rating to an "outperform" rating and raised their price objective for the company from $185.00 to $232.00 in a report on Monday. Morgan Stanley reissued an "overweight" rating and set a $192.00 price objective (up previously from $159.00) on shares of Houlihan Lokey in a report on Monday, June 23rd. Finally, Wall Street Zen raised Houlihan Lokey from a "hold" rating to a "buy" rating in a report on Saturday. Two analysts have rated the stock with a hold rating and five have given a buy rating to the company. According to data from MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus target price of $206.40.

Houlihan Lokey Stock Up 2.7%

HLI traded up $5.12 during midday trading on Monday, hitting $194.71. 426,588 shares of the company were exchanged, compared to its average volume of 360,336. The firm has a market capitalization of $13.59 billion, a P/E ratio of 33.46 and a beta of 0.83. Houlihan Lokey, Inc. has a 1-year low of $137.99 and a 1-year high of $195.61. The firm's 50 day moving average price is $177.06 and its 200-day moving average price is $170.77.

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

Houlihan Lokey Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Sunday, June 15th. Stockholders of record on Monday, June 2nd were paid a $0.60 dividend. This represents a $2.40 dividend on an annualized basis and a dividend yield of 1.23%. This is an increase from Houlihan Lokey's previous quarterly dividend of $0.57. The ex-dividend date was Monday, June 2nd. Houlihan Lokey's payout ratio is currently 41.24%.

Houlihan Lokey 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.