NewEdge Advisors LLC Grows Stock Holdings in Houlihan Lokey, Inc. $HLI

Key Points

• NewEdge Advisors LLC increased its holdings in Houlihan Lokey, Inc. by 9.7% during Q1, owning a total of 28,856 shares valued at approximately $4.66 million.
• Insider trading activity included Chairman Paul Eric Siegert selling 40,000 shares valued at nearly $8 million, with insiders selling a total of 45,500 shares worth over $9 million in the past 90 days.
• Houlihan Lokey recently reported better-than-expected earnings, with a 17.8% revenue increase year-over-year, and analysts predict an EPS of 5.98 for the current year.

NewEdge Advisors LLC increased its stake in shares of Houlihan Lokey, Inc. (NYSE:HLI - Free Report) by 9.7% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 28,856 shares of the financial services provider's stock after buying an additional 2,544 shares during the quarter. NewEdge Advisors LLC's holdings in Houlihan Lokey were worth $4,660,000 as of its most recent SEC filing.

Several other hedge funds also recently added to or reduced their stakes in HLI. GAMMA Investing LLC boosted its holdings in Houlihan Lokey by 39,574.9% in the first quarter. GAMMA Investing LLC now owns 686,375 shares of the financial services provider's stock valued at $1,108,500,000 after purchasing an additional 684,645 shares during the last quarter. Congress Asset Management Co. purchased a new stake in Houlihan Lokey in the first quarter valued at $81,420,000. Westfield Capital Management Co. LP purchased a new stake in Houlihan Lokey in the first quarter valued at $46,236,000. Handelsbanken Fonder AB boosted its holdings in Houlihan Lokey by 1,946.8% in the first quarter. Handelsbanken Fonder AB now owns 275,458 shares of the financial services provider's stock valued at $44,486,000 after purchasing an additional 262,000 shares during the last quarter. Finally, Jacobs Levy Equity Management Inc. boosted its holdings in Houlihan Lokey by 1,168.0% in the first quarter. Jacobs Levy Equity Management Inc. now owns 239,522 shares of the financial services provider's stock valued at $38,683,000 after purchasing an additional 220,632 shares during the last quarter. 78.07% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In related news, Chairman Paul Eric Siegert sold 40,000 shares of the company's stock in a transaction dated Wednesday, August 27th. The shares were sold at an average price of $199.95, for a total transaction of $7,998,000.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Chairman Irwin Gold sold 5,000 shares of the company's 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 sold a total of 45,500 shares of company stock worth $9,010,160 in the last 90 days. Insiders own 22.83% of the company's stock.

Houlihan Lokey Stock Down 1.4%

Shares of HLI stock traded down $2.91 during mid-day trading on Friday, hitting $205.24. 342,286 shares of the stock were exchanged, compared to its average volume of 388,850. The firm has a fifty day moving average of $194.45 and a 200 day moving average of $176.33. Houlihan Lokey, Inc. has a 52-week low of $137.99 and a 52-week high of $208.50. The company has a market cap of $14.43 billion, a PE ratio of 34.55 and a beta of 0.86.

Houlihan Lokey (NYSE:HLI - Get Free Report) last released its quarterly earnings results on Tuesday, July 29th. The financial services provider reported $2.14 earnings per share for the quarter, topping the consensus estimate 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 during the quarter, compared to the consensus estimate of $573.07 million. During the same quarter in the prior year, the firm earned $1.22 EPS. The company's revenue for the quarter was up 17.8% on a year-over-year basis. Equities analysts predict that Houlihan Lokey, Inc. will post 5.98 EPS for the current year.

Houlihan Lokey Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, September 15th. Investors of record on Tuesday, September 2nd will be given a dividend of $0.60 per share. This represents a $2.40 annualized dividend and a dividend yield of 1.2%. The ex-dividend date is Tuesday, September 2nd. Houlihan Lokey's dividend payout ratio is 40.40%.

Wall Street Analyst Weigh In

Several research firms have commented on HLI. 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 report on Friday, July 11th. Wall Street Zen lowered shares of Houlihan Lokey from a "buy" rating to a "hold" rating in a research note on Saturday, August 2nd. Keefe, Bruyette & Woods raised shares of Houlihan Lokey from a "hold" rating to a "moderate buy" rating and increased their target price for the stock from $185.00 to $232.00 in a research note on Monday, July 14th. Finally, Morgan Stanley increased their target price on shares of Houlihan Lokey from $192.00 to $213.00 and gave the stock an "overweight" rating in a research note on Monday, September 8th. Three equities research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $210.60.

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.