Interval Partners LP Grows Stake in Houlihan Lokey, Inc. $HLI

Key Points

• Interval Partners LP increased its holdings in Houlihan Lokey, Inc. by 113.3% during the 1st quarter, owning 22,615 shares valued at $3,652,000.
• Several hedge funds have also boosted their stakes, with GAMMA Investing LLC raising its position by an astonishing 39,574.9%, now holding 686,375 shares worth over $1.1 billion.
• Houlihan Lokey recently reported earnings of $2.14 per share, exceeding expectations, alongside a new quarterly dividend of $0.60, set to be paid on September 15th.

Interval Partners LP raised its stake in shares of Houlihan Lokey, Inc. (NYSE:HLI - Free Report) by 113.3% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 22,615 shares of the financial services provider's stock after buying an additional 12,015 shares during the period. Interval Partners LP's holdings in Houlihan Lokey were worth $3,652,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently modified their holdings of HLI. GAMMA Investing LLC increased its stake in shares of Houlihan Lokey by 39,574.9% in the 1st quarter. GAMMA Investing LLC now owns 686,375 shares of the financial services provider's stock worth $1,108,500,000 after purchasing an additional 684,645 shares in the last quarter. Congress Asset Management Co. purchased a new stake in shares of Houlihan Lokey in the 1st quarter worth $81,420,000. Westfield Capital Management Co. LP purchased a new stake in shares of Houlihan Lokey in the 1st quarter worth $46,236,000. Handelsbanken Fonder AB increased its stake in shares of Houlihan Lokey by 1,946.8% in the 1st quarter. Handelsbanken Fonder AB now owns 275,458 shares of the financial services provider's stock worth $44,486,000 after purchasing an additional 262,000 shares in the last quarter. Finally, Jacobs Levy Equity Management Inc. increased its stake in shares of Houlihan Lokey by 1,168.0% in the 1st quarter. Jacobs Levy Equity Management Inc. now owns 239,522 shares of the financial services provider's stock worth $38,683,000 after purchasing an additional 220,632 shares in the last quarter. 78.07% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several equities research analysts have recently commented on the company. Morgan Stanley upped their price objective on Houlihan Lokey from $192.00 to $213.00 and gave the stock an "overweight" rating in a research note on Monday. Keefe, Bruyette & Woods upgraded Houlihan Lokey from a "hold" rating to a "moderate buy" rating and upped their price objective for the stock from $185.00 to $232.00 in a research note on Monday, July 14th. 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 price target on Houlihan Lokey from $185.00 to $209.00 and gave the stock an "overweight" rating in a research note on Friday, July 11th. Three investment analysts have rated the stock with a Buy rating and two have given a Hold rating to the company's stock. According to MarketBeat, Houlihan Lokey currently has a consensus rating of "Moderate Buy" and a consensus price target of $210.60.

Insider Activity

In other news, General Counsel Christopher M. Crain sold 500 shares of the firm's stock in a transaction dated Tuesday, September 2nd. The stock was sold at an average price of $196.22, for a total transaction of $98,110.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Chairman Irwin Gold sold 5,000 shares of the firm's stock in a transaction dated 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 sold a total of 45,500 shares of company stock worth $9,010,160 over the last 90 days. Corporate insiders own 22.83% of the company's stock.

Houlihan Lokey Price Performance

Shares of Houlihan Lokey stock traded up $5.87 during trading on Thursday, reaching $206.81. 158,084 shares of the stock traded hands, compared to its average volume of 402,883. The company has a market capitalization of $14.54 billion, a price-to-earnings ratio of 34.79 and a beta of 0.86. The business has a fifty day simple moving average of $193.60 and a two-hundred day simple moving average of $175.81. Houlihan Lokey, Inc. has a 52-week low of $137.99 and a 52-week high of $206.62.

Houlihan Lokey (NYSE:HLI - Get Free Report) last issued its quarterly earnings data on Tuesday, July 29th. The financial services provider reported $2.14 earnings per share for the quarter, beating analysts' consensus estimates of $1.69 by $0.45. The firm had revenue of $605.35 million during the quarter, compared to analyst estimates of $573.07 million. Houlihan Lokey had a return on equity of 23.75% and a net margin of 16.46%.The business's quarterly revenue was up 17.8% compared to the same quarter last year. During the same quarter last year, the business posted $1.22 earnings per share. On average, research analysts predict that Houlihan Lokey, Inc. will post 5.98 earnings per share for the current fiscal year.

Houlihan Lokey Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, September 15th. Stockholders of record on Tuesday, September 2nd will be given a dividend of $0.60 per share. The ex-dividend date is Tuesday, September 2nd. This represents a $2.40 dividend on an annualized basis and a dividend yield of 1.2%. Houlihan Lokey's dividend payout ratio (DPR) is presently 40.40%.

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.