Louisiana State Employees Retirement System Purchases New Position in Houlihan Lokey, Inc. $HLI

Key Points

• Louisiana State Employees Retirement System opened a new position in Houlihan Lokey during the first quarter, buying 15,800 shares worth about $2.27 million.
• Analyst sentiment remains mostly positive, with Houlihan Lokey carrying a Moderate Buy rating overall, though several firms trimmed price targets and one upgraded the stock to Hold.
• The company reported weaker-than-expected quarterly results and its stock has fallen, but it also raised its quarterly dividend to $0.70 per share from $0.60.

Louisiana State Employees Retirement System acquired a new position in shares of Houlihan Lokey, Inc. (NYSE:HLI - Free Report) during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor acquired 15,800 shares of the financial services provider's stock, valued at approximately $2,269,000.

Several other hedge funds also recently modified their holdings of the company. Wealth High Governance Capital Ltda raised its position in Houlihan Lokey by 45.2% in the 3rd quarter. Wealth High Governance Capital Ltda now owns 72,000 shares of the financial services provider's stock valued at $14,783,000 after purchasing an additional 22,400 shares during the last quarter. Robinhood Asset Management LLC bought a new stake in shares of Houlihan Lokey during the fourth quarter worth $6,862,000. JPMorgan Chase & Co. grew its holdings in shares of Houlihan Lokey by 9.0% during the third quarter. JPMorgan Chase & Co. now owns 174,695 shares of the financial services provider's stock worth $35,868,000 after purchasing an additional 14,483 shares during the last quarter. Prana Capital Management LP increased its stake in shares of Houlihan Lokey by 597.1% in the third quarter. Prana Capital Management LP now owns 61,549 shares of the financial services provider's stock valued at $12,637,000 after buying an additional 52,720 shares in the last quarter. Finally, Barclays PLC increased its stake in shares of Houlihan Lokey by 74.2% in the third quarter. Barclays PLC now owns 229,075 shares of the financial services provider's stock valued at $47,034,000 after buying an additional 97,568 shares in the last quarter. Institutional investors and hedge funds own 78.07% of the company's stock.

Analysts Set New Price Targets

HLI has been the subject of a number of research analyst reports. The Goldman Sachs Group cut their price target on Houlihan Lokey from $210.00 to $184.00 and set a "buy" rating for the company in a report on Wednesday, April 1st. Keefe, Bruyette & Woods lowered their price objective on shares of Houlihan Lokey from $177.00 to $172.00 and set an "outperform" rating for the company in a research report on Thursday, May 7th. Zacks Research raised shares of Houlihan Lokey from a "strong sell" rating to a "hold" rating in a research note on Thursday, June 11th. Morgan Stanley reduced their target price on shares of Houlihan Lokey from $205.00 to $193.00 and set an "overweight" rating on the stock in a research report on Thursday, April 9th. Finally, Weiss Ratings cut shares of Houlihan Lokey from a "hold (c+)" rating to a "hold (c)" rating in a research note on Tuesday, April 21st. Five equities research analysts have rated the stock with a Buy rating and four have given a Hold rating to the company's stock. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average target price of $191.29.

Insider Buying and Selling

In other Houlihan Lokey news, Chairman Scott L. Beiser sold 6,265 shares of the company's stock in a transaction that occurred on Thursday, May 21st. The shares were sold at an average price of $150.26, for a total value of $941,378.90. Following the completion of the sale, the chairman owned 6,265 shares of the company's stock, valued at approximately $941,378.90. This represents a 50.00% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, General Counsel Christopher M. Crain sold 500 shares of the stock in a transaction on Wednesday, April 1st. The stock was sold at an average price of $143.40, for a total transaction of $71,700.00. Following the completion of the sale, the general counsel owned 500 shares in the company, valued at approximately $71,700. This trade represents a 50.00% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Company insiders own 22.83% of the company's stock.

Houlihan Lokey Stock Down 4.0%

HLI stock opened at $132.99 on Tuesday. The business's fifty day moving average is $147.10 and its 200-day moving average is $158.78. The company has a market cap of $9.18 billion, a P/E ratio of 21.38, a price-to-earnings-growth ratio of 1.08 and a beta of 0.95. Houlihan Lokey, Inc. has a twelve month low of $131.30 and a twelve month high of $211.78.

Houlihan Lokey (NYSE:HLI - Get Free Report) last announced its quarterly earnings data on Wednesday, May 6th. The financial services provider reported $1.63 EPS for the quarter, missing analysts' consensus estimates of $1.79 by ($0.16). The company had revenue of $635.64 million for the quarter, compared to analyst estimates of $679.22 million. Houlihan Lokey had a return on equity of 22.88% and a net margin of 16.26%.The firm's revenue for the quarter was down 4.6% on a year-over-year basis. During the same period last year, the firm earned $1.96 earnings per share. Research analysts anticipate that Houlihan Lokey, Inc. will post 8.54 earnings per share for the current fiscal year.

Houlihan Lokey Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, June 15th. Stockholders of record on Monday, June 1st were paid a $0.70 dividend. This is a boost from Houlihan Lokey's previous quarterly dividend of $0.60. The ex-dividend date of this dividend was Monday, June 1st. This represents a $2.80 dividend on an annualized basis and a dividend yield of 2.1%. Houlihan Lokey's dividend payout ratio (DPR) is currently 45.02%.

Houlihan Lokey Profile

Houlihan Lokey, Inc is a global investment bank and financial services firm founded in 1972 and headquartered in Los Angeles, California. The company specializes in advisory services across a broad range of transaction types and financial matters. Since its founding, Houlihan Lokey has grown to serve corporations, financial sponsors, and government entities worldwide, providing expertise in complex and high-stakes engagements.

The firm's core service offerings include mergers and acquisitions advisory, capital markets advisory, financial restructuring and distressed M&A, and valuation and fairness opinions.

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