Houlihan Lokey, Inc. (NYSE:HLI) Shares Sold by New York State Common Retirement Fund

New York State Common Retirement Fund cut its position in Houlihan Lokey, Inc. (NYSE:HLI - Free Report) by 17.2% in the 1st quarter, according to its most recent disclosure with the SEC. The fund owned 144,281 shares of the financial services provider's stock after selling 30,071 shares during the period. New York State Common Retirement Fund owned approximately 0.21% of Houlihan Lokey worth $23,301,000 as of its most recent SEC filing.

Several other hedge funds have also recently made changes to their positions in HLI. Diversify Wealth Management LLC purchased a new stake in Houlihan Lokey during the first quarter valued at approximately $231,000. Xponance Inc. increased its holdings in Houlihan Lokey by 2.0% during the first quarter. Xponance Inc. now owns 6,650 shares of the financial services provider's stock valued at $1,074,000 after buying an additional 132 shares during the last quarter. Weil Company Inc. increased its holdings in Houlihan Lokey by 1.7% during the first quarter. Weil Company Inc. now owns 25,128 shares of the financial services provider's stock valued at $4,058,000 after buying an additional 420 shares during the last quarter. State of Michigan Retirement System boosted its position in shares of Houlihan Lokey by 1.6% in the first quarter. State of Michigan Retirement System now owns 12,900 shares of the financial services provider's stock worth $2,083,000 after purchasing an additional 200 shares during the period. Finally, Alps Advisors Inc. boosted its position in shares of Houlihan Lokey by 6.8% in the first quarter. Alps Advisors Inc. now owns 128,160 shares of the financial services provider's stock worth $20,698,000 after purchasing an additional 8,177 shares during the period. 78.07% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

HLI has been the subject of a number of recent analyst reports. Wall Street Zen upgraded shares of Houlihan Lokey from a "hold" rating to a "buy" rating in a research report on Saturday, July 12th. Keefe, Bruyette & Woods upgraded shares of Houlihan Lokey from a "hold" rating to a "moderate buy" rating and upped their target price for the stock from $185.00 to $232.00 in a research report on Monday, July 14th. Wells Fargo & Company upped their price target on shares of Houlihan Lokey from $185.00 to $209.00 and gave the company an "overweight" rating in a research note on Friday, July 11th. Finally, Morgan Stanley reaffirmed an "overweight" rating and set a $192.00 price target (up previously from $159.00) on shares of Houlihan Lokey in a research note on Monday, June 23rd. Two analysts have rated the stock with a hold rating and four have given a buy rating to the company's stock. Based on data from MarketBeat, the stock has an average rating of "Moderate Buy" and an average price target of $206.40.

Insiders Place Their Bets

In other Houlihan Lokey news, Chairman Irwin Gold sold 5,000 shares of Houlihan Lokey stock in a transaction on Monday, June 30th. The shares were sold at an average price of $182.81, for a total transaction of $914,050.00. The sale 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 the business's stock in a transaction dated Monday, June 2nd. The shares were sold at an average price of $173.02, for a total transaction of $86,510.00. The disclosure for this sale can be found here. Insiders have sold a total of 13,508 shares of company stock valued at $2,431,670 in the last 90 days. 23.68% of the stock is owned by insiders.

Houlihan Lokey Trading Down 0.7%

NYSE HLI traded down $1.34 on Friday, hitting $196.09. 287,484 shares of the company's stock traded hands, compared to its average volume of 360,690. Houlihan Lokey, Inc. has a 1-year low of $137.99 and a 1-year high of $198.78. The firm's 50-day moving average price is $179.71 and its two-hundred day moving average price is $171.53. The firm has a market capitalization of $13.69 billion, a PE ratio of 33.69 and a beta of 0.83.

Houlihan Lokey (NYSE:HLI - Get Free Report) last announced its quarterly earnings data on Wednesday, May 7th. The financial services provider reported $1.96 EPS for the quarter, beating the consensus estimate of $1.61 by $0.35. The business had revenue of $666.42 million during the quarter, compared to analysts' expectations of $628.25 million. Houlihan Lokey had a net margin of 16.73% and a return on equity of 21.61%. The business's quarterly revenue was up 28.0% compared to the same quarter last year. During the same period in the previous year, the business posted $1.27 EPS. On average, research analysts anticipate that Houlihan Lokey, Inc. will post 5.98 earnings per share for the current fiscal year.

Houlihan Lokey Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Sunday, June 15th. Shareholders of record on Monday, June 2nd were paid a dividend of $0.60 per share. This represents a $2.40 annualized dividend and a yield of 1.22%. The ex-dividend date was Monday, June 2nd. This is a boost from Houlihan Lokey's previous quarterly dividend of $0.57. Houlihan Lokey's payout ratio is 41.24%.

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.