Natixis Advisors LLC Raises Stock Position in Houlihan Lokey, Inc. (NYSE:HLI)

Key Points

• Natixis Advisors LLC increased its shareholding in Houlihan Lokey, Inc. by 3.0%, acquiring an additional 11,709 shares, bringing its total ownership to 402,763 shares worth approximately $65 million.
• The company reported $2.14 earnings per share for the last quarter, significantly exceeding the consensus estimate of $1.69, and achieved a revenue of $605.35 million against an expected $573.07 million.
• Houlihan Lokey announced a quarterly dividend of $0.60 per share, with a yield of 1.25%, set to be paid on September 15th, 2023.

Natixis Advisors LLC grew its holdings in Houlihan Lokey, Inc. (NYSE:HLI - Free Report) by 3.0% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 402,763 shares of the financial services provider's stock after acquiring an additional 11,709 shares during the period. Natixis Advisors LLC owned 0.57% of Houlihan Lokey worth $65,046,000 as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in the business. Bogart Wealth LLC raised its position in shares of Houlihan Lokey by 111.1% during the 1st 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 bought a new stake in shares of Houlihan Lokey during the 1st quarter valued at $29,000. TCTC Holdings LLC raised its position in shares of Houlihan Lokey by 103.5% during the 1st quarter. TCTC Holdings LLC now owns 232 shares of the financial services provider's stock valued at $37,000 after purchasing an additional 118 shares during the period. Thurston Springer Miller Herd & Titak Inc. bought a new stake in shares of Houlihan Lokey during the 1st quarter valued at $54,000. Finally, Versant Capital Management Inc raised its position in shares of Houlihan Lokey by 744.2% during the 1st quarter. Versant Capital Management Inc now owns 363 shares of the financial services provider's stock valued at $59,000 after purchasing an additional 320 shares during the period. 78.07% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

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

Insider Buying and Selling

In related news, General Counsel Christopher M. Crain sold 500 shares of the stock in a transaction dated Monday, June 2nd. The shares were sold at an average price of $173.02, for a total value of $86,510.00. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Chairman Irwin Gold sold 5,000 shares of the stock in a transaction dated Monday, June 30th. The stock was sold at an average price of $182.81, for a total transaction of $914,050.00. The disclosure for this sale can be found here. Insiders have sold 13,508 shares of company stock valued at $2,431,670 in the last ninety days. 23.68% of the stock is owned by company insiders.

Houlihan Lokey Price Performance

Shares of Houlihan Lokey stock traded down $0.92 during trading hours on Friday, reaching $189.74. The company's stock had a trading volume of 356,403 shares, compared to its average volume of 412,984. The firm has a 50 day moving average price of $183.03 and a 200-day moving average price of $173.09. Houlihan Lokey, Inc. has a one year low of $137.99 and a one year high of $198.78. The stock has a market cap of $13.24 billion, a P/E ratio of 31.94 and a beta of 0.86.

Houlihan Lokey (NYSE:HLI - Get Free Report) last posted its earnings results on Tuesday, July 29th. The financial services provider reported $2.14 earnings per share for the quarter, topping analysts' consensus estimates of $1.69 by $0.45. Houlihan Lokey had a net margin of 16.46% and a return on equity of 23.75%. The firm had revenue of $605.35 million for the quarter, compared to the consensus estimate of $573.07 million. During the same period in the previous year, the firm posted $1.22 EPS. The business's quarterly revenue was up 17.8% on a year-over-year basis. As a group, sell-side analysts forecast 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 given a $0.60 dividend. This represents a $2.40 dividend on an annualized basis and a yield of 1.3%. The ex-dividend date of this dividend is Tuesday, September 2nd. Houlihan Lokey's dividend payout ratio is 40.40%.

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.