M&T Bank Corp Takes Position in Houlihan Lokey, Inc. $HLI

Key Points

• M&T Bank Corp disclosed a new fourth-quarter stake in Houlihan Lokey, buying 6,693 shares valued at about $1.17 million. Several other hedge funds also increased or initiated positions, and institutional investors now own 78.07% of the company.
• Houlihan Lokey shares were noted as down 0.4% and trading at $152.88, while the company reported mixed quarterly results: EPS of $1.63 missed estimates and revenue of $635.64 million also fell short of forecasts.
• The company raised its quarterly dividend to $0.70 per share from $0.60, and analysts currently have a Moderate Buy consensus with an average price target of $191.29.

M&T Bank Corp purchased a new stake in Houlihan Lokey, Inc. (NYSE:HLI - Free Report) in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 6,693 shares of the financial services provider's stock, valued at approximately $1,166,000.

Other hedge funds have also made changes to their positions in the company. Flagship Harbor Advisors LLC purchased a new position in shares of Houlihan Lokey in the fourth quarter valued at $26,000. Westside Investment Management Inc. increased its position in shares of Houlihan Lokey by 64.4% in the third quarter. Westside Investment Management Inc. now owns 148 shares of the financial services provider's stock valued at $30,000 after buying an additional 58 shares in the last quarter. Root Financial Partners LLC purchased a new position in shares of Houlihan Lokey in the third quarter valued at $31,000. Strategic Wealth Investment Group LLC purchased a new position in shares of Houlihan Lokey in the second quarter valued at $39,000. Finally, Cornerstone Planning Group LLC increased its position in shares of Houlihan Lokey by 179.2% in the third quarter. Cornerstone Planning Group LLC now owns 201 shares of the financial services provider's stock valued at $40,000 after buying an additional 129 shares in the last quarter. Hedge funds and other institutional investors own 78.07% of the company's stock.

Houlihan Lokey Trading Down 0.4%

Houlihan Lokey stock opened at $152.88 on Friday. The stock has a market cap of $10.67 billion, a PE ratio of 24.58, a P/E/G ratio of 1.09 and a beta of 0.99. The stock has a 50-day moving average price of $150.56 and a 200 day moving average price of $168.85. Houlihan Lokey, Inc. has a 52 week low of $134.41 and a 52 week high of $211.78.

Houlihan Lokey (NYSE:HLI - Get Free Report) last posted 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 analysts' expectations of $679.22 million. Houlihan Lokey had a return on equity of 22.88% and a net margin of 16.26%.The company's revenue for the quarter was down 4.6% compared to the same quarter last year. During the same quarter in the prior year, the business posted $1.96 EPS. On average, equities analysts predict that Houlihan Lokey, Inc. will post 8.61 EPS for the current year.

Houlihan Lokey Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, June 15th. Investors of record on Monday, June 1st will be given a dividend of $0.70 per share. The ex-dividend date is Monday, June 1st. This represents a $2.80 dividend on an annualized basis and a yield of 1.8%. This is a boost from Houlihan Lokey's previous quarterly dividend of $0.60. Houlihan Lokey's dividend payout ratio (DPR) is 38.59%.

Insider Buying and Selling

In related news, General Counsel Christopher M. Crain sold 500 shares of Houlihan Lokey stock in a transaction dated 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 position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Corporate insiders own 22.83% of the company's stock.

Analysts Set New Price Targets

A number of research analysts have recently weighed in on the company. BMO Capital Markets raised their price target on Houlihan Lokey from $209.00 to $211.00 and gave the company an "outperform" rating in a research report on Thursday, January 29th. Morgan Stanley dropped their price target on Houlihan Lokey from $205.00 to $193.00 and set an "overweight" rating for the company in a research report on Thursday, April 9th. UBS Group set a $160.00 price target on Houlihan Lokey in a research report on Thursday. Keefe, Bruyette & Woods dropped their price target on Houlihan Lokey from $177.00 to $172.00 and set an "outperform" rating for the company in a research report on Thursday. Finally, Weiss Ratings cut Houlihan Lokey from a "hold (c+)" rating to a "hold (c)" rating in a research report on Tuesday, April 21st. Five research analysts have rated the stock with a Buy rating and four have given a Hold rating to the company's stock. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average target price of $191.29.

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.

Want to see what other hedge funds are holding HLI? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Houlihan Lokey, Inc. (NYSE:HLI - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.