Legacy Wealth Asset Management LLC Makes New Investment in Houlihan Lokey, Inc. (NYSE:HLI)

Legacy Wealth Asset Management LLC purchased a new position in shares of Houlihan Lokey, Inc. (NYSE:HLI - Free Report) in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor purchased 1,855 shares of the financial services provider's stock, valued at approximately $300,000.

Several other large investors have also recently bought and sold shares of HLI. Barclays PLC lifted its holdings in shares of Houlihan Lokey by 21.4% in the third quarter. Barclays PLC now owns 36,821 shares of the financial services provider's stock valued at $5,818,000 after purchasing an additional 6,483 shares in the last quarter. Pacer Advisors Inc. raised its holdings in Houlihan Lokey by 4.5% in the fourth quarter. Pacer Advisors Inc. now owns 10,859 shares of the financial services provider's stock valued at $1,886,000 after buying an additional 469 shares during the period. Jennison Associates LLC boosted its position in Houlihan Lokey by 341.0% during the 4th quarter. Jennison Associates LLC now owns 307,304 shares of the financial services provider's stock worth $53,366,000 after purchasing an additional 237,615 shares during the period. Financial Life Planners purchased a new stake in shares of Houlihan Lokey in the fourth quarter worth about $33,000. Finally, Rheos Capital Works Inc. grew its position in Houlihan Lokey by 15.8% in the fourth quarter. Rheos Capital Works Inc. now owns 73,400 shares of the financial services provider's stock valued at $12,747,000 after acquiring an additional 10,000 shares in the last quarter. Hedge funds and other institutional investors own 78.07% of the company's stock.

Analysts Set New Price Targets

Several equities analysts have recently commented on HLI shares. Wells Fargo & Company increased their target price on Houlihan Lokey from $170.00 to $185.00 and gave the company an "overweight" rating in a research note on Thursday, May 8th. Keefe, Bruyette & Woods increased their target price on Houlihan Lokey from $183.00 to $185.00 and gave the stock a "market perform" rating in a research report on Monday, May 12th. Morgan Stanley cut their price target on Houlihan Lokey from $190.00 to $156.00 and set an "overweight" rating on the stock in a report on Monday, April 7th. Finally, Wall Street Zen raised Houlihan Lokey from a "hold" rating to a "buy" rating in a report on Thursday, May 22nd. Three research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. According to data from MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus price target of $185.00.

Insider Activity at Houlihan Lokey

In other news, General Counsel Christopher M. Crain sold 500 shares of Houlihan Lokey stock in a transaction on Monday, June 2nd. The stock was sold at an average price of $173.02, for a total value of $86,510.00. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Chairman Scott L. Beiser sold 8,008 shares of Houlihan Lokey stock in a transaction that occurred on Monday, May 19th. The shares were sold at an average price of $178.71, for a total transaction of $1,431,109.68. The disclosure for this sale can be found here. 23.68% of the stock is currently owned by company insiders.

Houlihan Lokey Stock Up 0.6%

NYSE:HLI traded up $0.99 during trading hours on Thursday, reaching $175.01. The company had a trading volume of 46,993 shares, compared to its average volume of 405,793. The firm has a market capitalization of $12.21 billion, a PE ratio of 33.40 and a beta of 0.82. Houlihan Lokey, Inc. has a one year low of $127.14 and a one year high of $192.10. The stock has a 50-day moving average of $164.08 and a two-hundred day moving average of $171.39.

Houlihan Lokey (NYSE:HLI - Get Free Report) last posted its quarterly earnings results on Wednesday, May 7th. The financial services provider reported $1.96 earnings per share for the quarter, topping analysts' consensus estimates of $1.61 by $0.35. Houlihan Lokey had a net margin of 16.00% and a return on equity of 20.04%. The business had revenue of $666.42 million during the quarter, compared to the consensus estimate of $628.25 million. During the same period in the previous year, the firm posted $1.27 earnings per share. Houlihan Lokey's revenue for the quarter was up 28.0% compared to the same quarter last year. As a group, sell-side analysts expect that Houlihan Lokey, Inc. will post 5.98 earnings per share for the current year.

Houlihan Lokey Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Sunday, June 15th. Investors of record on Monday, June 2nd will be issued a dividend of $0.60 per share. This represents a $2.40 dividend on an annualized basis and a yield of 1.37%. This is an increase from Houlihan Lokey's previous quarterly dividend of $0.57. The ex-dividend date of this dividend is Monday, June 2nd. Houlihan Lokey's payout ratio is presently 41.24%.

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.