Martingale Asset Management L P Buys New Stake in Houlihan Lokey, Inc. $HLI

Key Points

• Martingale Asset Management L P has acquired a new stake in Houlihan Lokey, Inc., purchasing 4,393 shares valued at approximately $709,000 during the first quarter.
• The quarterly earnings report revealed an EPS of $2.14, exceeding estimates, and a revenue of $605.35 million, indicating a 17.8% year-over-year increase.
• Houlihan Lokey announced a quarterly dividend of $0.60, set to be paid on September 15th, representing an annualized yield of 1.2%.

Martingale Asset Management L P purchased a new position in shares of Houlihan Lokey, Inc. (NYSE:HLI - Free Report) during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The firm purchased 4,393 shares of the financial services provider's stock, valued at approximately $709,000.

A number of other institutional investors have also modified their holdings of HLI. Bogart Wealth LLC increased its holdings in shares of Houlihan Lokey by 111.1% in the first quarter. Bogart Wealth LLC now owns 152 shares of the financial services provider's stock valued at $25,000 after purchasing an additional 80 shares during the period. Motco acquired a new stake in Houlihan Lokey in the first quarter valued at $29,000. Brooklyn Investment Group acquired a new position in Houlihan Lokey during the first quarter worth about $33,000. TCTC Holdings LLC raised its holdings in Houlihan Lokey by 103.5% during the first quarter. TCTC Holdings LLC now owns 232 shares of the financial services provider's stock worth $37,000 after purchasing an additional 118 shares during the last quarter. Finally, Caitong International Asset Management Co. Ltd raised its stake in shares of Houlihan Lokey by 3,714.3% during the 1st quarter. Caitong International Asset Management Co. Ltd now owns 267 shares of the financial services provider's stock worth $43,000 after buying an additional 260 shares during the last quarter. 78.07% of the stock is owned by institutional investors and hedge funds.

Houlihan Lokey Stock Performance

Shares of NYSE:HLI opened at $197.3520 on Monday. The company's fifty day moving average is $188.34 and its two-hundred day moving average is $174.03. Houlihan Lokey, Inc. has a 1-year low of $137.99 and a 1-year high of $198.78. The stock has a market capitalization of $13.88 billion, a price-to-earnings ratio of 33.22 and a beta of 0.86.

Houlihan Lokey (NYSE:HLI - Get Free Report) last issued its earnings results on Tuesday, July 29th. The financial services provider reported $2.14 EPS for the quarter, beating analysts' consensus estimates of $1.69 by $0.45. The company had revenue of $605.35 million during the quarter, compared to the consensus estimate of $573.07 million. Houlihan Lokey had a return on equity of 23.75% and a net margin of 16.46%.Houlihan Lokey's quarterly revenue was up 17.8% compared to the same quarter last year. During the same period in the previous year, the firm posted $1.22 earnings per share. Sell-side analysts expect that Houlihan Lokey, Inc. will post 5.98 EPS 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. Investors of record on Tuesday, September 2nd will be issued a $0.60 dividend. This represents a $2.40 dividend on an annualized basis and a dividend yield of 1.2%. The ex-dividend date of this dividend is Tuesday, September 2nd. Houlihan Lokey's dividend payout ratio (DPR) is 40.40%.

Analysts Set New Price Targets

Several research analysts recently issued reports on the company. Wall Street Zen downgraded Houlihan Lokey from a "buy" rating to a "hold" rating in a research report on Saturday, August 2nd. Keefe, Bruyette & Woods upgraded shares of Houlihan Lokey from a "hold" rating to a "moderate buy" rating and increased their price objective for the stock from $185.00 to $232.00 in a report on Monday, July 14th. Wells Fargo & Company lifted their target price on Houlihan Lokey from $185.00 to $209.00 and gave the company an "overweight" rating in a report on Friday, July 11th. Finally, Morgan Stanley reiterated an "overweight" rating and set a $192.00 price objective (up from $159.00) on shares of Houlihan Lokey in a research note on Monday, June 23rd. Three investment analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company's stock. According to MarketBeat, Houlihan Lokey presently has an average rating of "Moderate Buy" and a consensus price target of $206.40.

Insider Activity at Houlihan Lokey

In other news, Chairman Irwin Gold sold 5,000 shares of Houlihan Lokey stock in a transaction that occurred on Monday, June 30th. The stock was sold at an average price of $182.81, for a total transaction of $914,050.00. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, General Counsel Christopher M. Crain sold 500 shares of Houlihan Lokey stock in a transaction on 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. 22.83% of the stock is currently owned by company insiders.

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.

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