Northern Trust Corp Has $87.23 Million Holdings in Houlihan Lokey, Inc. $HLI

Key Points

• Northern Trust Corp reduced its stake in Houlihan Lokey by 12.9%, holding 540,106 shares worth approximately $87.23 million after selling 80,218 shares in the first quarter.
• Several hedge funds have recently increased their positions in Houlihan Lokey, with 78.07% of the stock now owned by institutional investors and hedge funds.
• Analysts have set mixed ratings for Houlihan Lokey, with price targets ranging from $192.00 to $232.00 as the stock holds a consensus rating of "Moderate Buy."

Northern Trust Corp cut its stake in shares of Houlihan Lokey, Inc. (NYSE:HLI - Free Report) by 12.9% in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 540,106 shares of the financial services provider's stock after selling 80,218 shares during the period. Northern Trust Corp owned 0.77% of Houlihan Lokey worth $87,227,000 at the end of the most recent quarter.

Other hedge funds have also recently bought and sold shares of the company. Bogart Wealth LLC lifted its position in Houlihan Lokey by 111.1% during the first quarter. Bogart Wealth LLC now owns 152 shares of the financial services provider's stock worth $25,000 after acquiring an additional 80 shares during the last quarter. Motco acquired a new stake in shares of Houlihan Lokey in the first quarter valued at approximately $29,000. Brooklyn Investment Group acquired a new stake in shares of Houlihan Lokey in the first quarter valued at approximately $33,000. TCTC Holdings LLC raised its position in shares of Houlihan Lokey by 103.5% in the first quarter. TCTC Holdings LLC now owns 232 shares of the financial services provider's stock valued at $37,000 after buying an additional 118 shares in the last quarter. Finally, Caitong International Asset Management Co. Ltd raised its position in shares of Houlihan Lokey by 3,714.3% in the first quarter. Caitong International Asset Management Co. Ltd now owns 267 shares of the financial services provider's stock valued at $43,000 after buying an additional 260 shares in the last quarter. 78.07% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

HLI has been the subject of a number of analyst reports. Morgan Stanley reiterated an "overweight" rating and issued a $192.00 price target (up from $159.00) on shares of Houlihan Lokey in a research 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 research report on Friday, July 11th. Wall Street Zen downgraded shares of Houlihan Lokey from a "buy" rating to a "hold" rating in a research report on Saturday, August 2nd. 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 research report on Monday, July 14th. Three research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company. Based on data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average target price of $206.40.

Insiders Place Their Bets

In other Houlihan Lokey news, General Counsel Christopher M. Crain sold 500 shares of the business's stock in a transaction on Monday, June 2nd. The shares were sold at an average price of $173.02, for a total transaction of $86,510.00. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Chairman Irwin Gold sold 5,000 shares of the business's stock in a transaction on 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 own 22.83% of the company's stock.

Houlihan Lokey Price Performance

Shares of NYSE:HLI opened at $197.3520 on Monday. The company's 50 day simple moving average is $188.34 and its 200 day simple moving average is $174.03. The stock has a market capitalization of $13.88 billion, a price-to-earnings ratio of 33.22 and a beta of 0.86. Houlihan Lokey, Inc. has a 1 year low of $137.99 and a 1 year high of $198.78.

Houlihan Lokey (NYSE:HLI - Get Free Report) last announced its quarterly earnings data on Tuesday, July 29th. The financial services provider reported $2.14 earnings per share (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 net margin of 16.46% and a return on equity of 23.75%. The firm's quarterly revenue was up 17.8% compared to the same quarter last year. During the same period last year, the firm posted $1.22 earnings per share. As a group, analysts anticipate that Houlihan Lokey, Inc. will post 5.98 EPS for the current fiscal year.

Houlihan Lokey Announces Dividend

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

Houlihan Lokey 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.

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