Mutual of America Capital Management LLC Reduces Stake in Houlihan Lokey, Inc. $HLI

Key Points

• Mutual of America Capital Management LLC has reduced its stake in Houlihan Lokey by 3.1%, owning approximately 0.08% of the company valued at $10.5 million after selling 1,855 shares.
• Insider selling is notable, with Chairman Irwin Gold and General Counsel Christopher M. Crain recently selling significant shares, totaling over $1.4 million in value.
• Despite the reduction in stake by Mutual of America, several institutions have increased their holdings, with 78.07% of Houlihan Lokey stock now owned by institutional investors.

Mutual of America Capital Management LLC reduced its position in Houlihan Lokey, Inc. (NYSE:HLI - Free Report) by 3.1% during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 58,389 shares of the financial services provider's stock after selling 1,855 shares during the period. Mutual of America Capital Management LLC owned approximately 0.08% of Houlihan Lokey worth $10,507,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds have also recently modified their holdings of HLI. GAMMA Investing LLC boosted its stake in shares of Houlihan Lokey by 145.7% in the 1st quarter. GAMMA Investing LLC now owns 4,250 shares of the financial services provider's stock worth $686,000 after buying an additional 2,520 shares during the last quarter. Wealth Enhancement Advisory Services LLC lifted its position in Houlihan Lokey by 5.9% during the first quarter. Wealth Enhancement Advisory Services LLC now owns 29,103 shares of the financial services provider's stock valued at $4,700,000 after purchasing an additional 1,618 shares in the last quarter. Sowell Financial Services LLC purchased a new position in Houlihan Lokey during the first quarter valued at $313,000. QRG Capital Management Inc. lifted its position in Houlihan Lokey by 9.7% during the first quarter. QRG Capital Management Inc. now owns 4,987 shares of the financial services provider's stock valued at $805,000 after purchasing an additional 439 shares in the last quarter. Finally, State of Alaska Department of Revenue lifted its position in Houlihan Lokey by 3.6% during the first quarter. State of Alaska Department of Revenue now owns 6,330 shares of the financial services provider's stock valued at $1,022,000 after purchasing an additional 220 shares in the last quarter. 78.07% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at Houlihan Lokey

In other news, Chairman Irwin Gold sold 6,811 shares of Houlihan Lokey stock in a transaction dated Tuesday, September 16th. The stock was sold at an average price of $202.75, for a total value of $1,380,930.25. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, General Counsel Christopher M. Crain sold 500 shares of Houlihan Lokey stock in a transaction dated Tuesday, September 2nd. The stock was sold at an average price of $196.22, for a total value of $98,110.00. The disclosure for this sale can be found here. Over the last three months, insiders have sold 47,311 shares of company stock valued at $9,477,040. 22.83% of the stock is currently owned by insiders.

Houlihan Lokey Stock Up 1.0%

NYSE:HLI opened at $190.36 on Monday. The business's 50-day simple moving average is $198.26 and its two-hundred day simple moving average is $183.09. The stock has a market cap of $13.38 billion, a PE ratio of 32.05 and a beta of 0.87. Houlihan Lokey, Inc. has a 52 week low of $137.99 and a 52 week high of $211.78.

Houlihan Lokey (NYSE:HLI - Get Free Report) last posted its quarterly 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 business had revenue of $605.35 million for the quarter, compared to analysts' expectations of $573.07 million. Houlihan Lokey had a return on equity of 23.75% and a net margin of 16.46%.The business's quarterly revenue was up 17.8% on a year-over-year basis. During the same period last year, the firm earned $1.22 earnings per share. Sell-side analysts anticipate that Houlihan Lokey, Inc. will post 5.98 earnings per share for the current fiscal year.

Houlihan Lokey Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, September 15th. Stockholders of record on Tuesday, September 2nd were issued a $0.60 dividend. This represents a $2.40 annualized dividend and a dividend yield of 1.3%. The ex-dividend date of this dividend was Tuesday, September 2nd. Houlihan Lokey's payout ratio is 40.40%.

Analyst Ratings Changes

Several research firms recently weighed in on HLI. BMO Capital Markets began coverage on Houlihan Lokey in a research report on Friday, October 3rd. They set an "outperform" rating and a $230.00 target price on the stock. Weiss Ratings reiterated a "buy (b-)" rating on shares of Houlihan Lokey in a research report on Wednesday, October 8th. 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 research report on Friday, July 11th. Zacks Research downgraded Houlihan Lokey from a "strong-buy" rating to a "hold" rating in a research report on Monday, September 29th. Finally, Morgan Stanley lifted their target price on Houlihan Lokey from $192.00 to $213.00 and gave the company an "overweight" rating in a research report on Monday, September 8th. One investment analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating and four have assigned a Hold rating to the company's stock. According to data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $212.43.

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.

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 and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.