Legacy Wealth Asset Management LLC purchased a new position in Houlihan Lokey, Inc. (NYSE:HLI - Free Report) in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 1,855 shares of the financial services provider's stock, valued at approximately $300,000.
Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Private Trust Co. NA purchased a new position in shares of Houlihan Lokey during the 4th quarter worth approximately $29,000. Financial Life Planners bought a new stake in shares of Houlihan Lokey in the 4th quarter worth approximately $33,000. Golden State Wealth Management LLC bought a new stake in shares of Houlihan Lokey in the 4th quarter worth approximately $53,000. Versant Capital Management Inc boosted its position in shares of Houlihan Lokey by 744.2% in the 1st quarter. Versant Capital Management Inc now owns 363 shares of the financial services provider's stock worth $59,000 after purchasing an additional 320 shares in the last quarter. Finally, VisionPoint Advisory Group LLC bought a new stake in shares of Houlihan Lokey in the 4th quarter worth approximately $62,000. Hedge funds and other institutional investors own 78.07% of the company's stock.
Insider Buying and Selling
In other Houlihan Lokey news, Chairman Scott L. Beiser sold 8,008 shares of the stock in a transaction 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, General Counsel Christopher M. Crain sold 500 shares of the 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 disclosure for this sale can be found here. 23.68% of the stock is owned by insiders.
Houlihan Lokey Trading Up 0.4%
HLI stock traded up $0.71 during midday trading on Thursday, hitting $174.73. The company's stock had a trading volume of 434,037 shares, compared to its average volume of 351,244. The firm's 50-day moving average is $164.35 and its 200-day moving average is $171.32. The company has a market cap of $12.20 billion, a PE ratio of 33.35 and a beta of 0.82. Houlihan Lokey, Inc. has a 12 month low of $127.14 and a 12 month high of $192.10.
Houlihan Lokey (NYSE:HLI - Get Free Report) last released its quarterly earnings results on Wednesday, May 7th. The financial services provider reported $1.96 earnings per share for the quarter, beating the consensus estimate of $1.61 by $0.35. The firm had revenue of $666.42 million for the quarter, compared to analysts' expectations of $628.25 million. Houlihan Lokey had a return on equity of 20.04% and a net margin of 16.00%. The company's revenue was up 28.0% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.27 EPS. Analysts expect that Houlihan Lokey, Inc. will post 5.98 earnings per share for the current year.
Houlihan Lokey Increases Dividend
The business 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 $0.60 dividend. This is a boost from Houlihan Lokey's previous quarterly dividend of $0.57. This represents a $2.40 dividend on an annualized basis and a yield of 1.37%. The ex-dividend date of this dividend is Monday, June 2nd. Houlihan Lokey's dividend payout ratio (DPR) is currently 41.24%.
Wall Street Analysts Forecast Growth
A number of analysts have recently commented on the company. Wells Fargo & Company boosted their price target on Houlihan Lokey from $170.00 to $185.00 and gave the stock an "overweight" rating in a research report on Thursday, May 8th. Wall Street Zen raised Houlihan Lokey from a "hold" rating to a "buy" rating in a research report on Thursday, May 22nd. Morgan Stanley dropped their price target on Houlihan Lokey from $190.00 to $156.00 and set an "overweight" rating on the stock in a research report on Monday, April 7th. Finally, Keefe, Bruyette & Woods upped their price objective on Houlihan Lokey from $183.00 to $185.00 and gave the company a "market perform" rating in a research report on Monday, May 12th. Three equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the company's stock. Based on data from MarketBeat, Houlihan Lokey currently has an average rating of "Moderate Buy" and a consensus price target of $185.00.
Check Out Our Latest Research Report on Houlihan Lokey
About Houlihan Lokey
(
Free Report)
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.
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