Novem Group Buys 1,433 Shares of Houlihan Lokey, Inc. (NYSE:HLI)

Novem Group lifted its stake in shares of Houlihan Lokey, Inc. (NYSE:HLI - Free Report) by 35.8% in the first quarter, according to the company in its most recent filing with the SEC. The fund owned 5,432 shares of the financial services provider's stock after buying an additional 1,433 shares during the quarter. Novem Group's holdings in Houlihan Lokey were worth $877,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also modified their holdings of the stock. Private Trust Co. NA acquired a new position in Houlihan Lokey in the 4th quarter valued at $29,000. Thurston Springer Miller Herd & Titak Inc. bought a new stake in shares of Houlihan Lokey in the first quarter valued at about $54,000. Versant Capital Management Inc grew its stake in shares of Houlihan Lokey by 744.2% in the first quarter. Versant Capital Management Inc now owns 363 shares of the financial services provider's stock valued at $59,000 after acquiring an additional 320 shares in the last quarter. Golden State Wealth Management LLC increased its position in Houlihan Lokey by 101.0% during the first quarter. Golden State Wealth Management LLC now owns 613 shares of the financial services provider's stock worth $99,000 after acquiring an additional 308 shares during the period. Finally, Kapitalo Investimentos Ltda bought a new position in Houlihan Lokey during the fourth quarter worth about $105,000. Institutional investors own 78.07% of the company's stock.

Wall Street Analyst Weigh In

HLI has been the subject of a number of recent research reports. Wall Street Zen downgraded shares of Houlihan Lokey from a "buy" rating to a "hold" rating in a report on Friday, June 27th. Keefe, Bruyette & Woods boosted their price target on Houlihan Lokey from $183.00 to $185.00 and gave the company a "market perform" rating in a research note on Monday, May 12th. Morgan Stanley restated an "overweight" rating and set a $192.00 price objective (up previously from $159.00) on shares of Houlihan Lokey in a research note on Monday, June 23rd. Finally, Wells Fargo & Company lifted their price objective on Houlihan Lokey from $170.00 to $185.00 and gave the company an "overweight" rating in a report on Thursday, May 8th. Four analysts have rated the stock with a hold rating and three have assigned a buy rating to the company's stock. According to data from MarketBeat, the stock presently has a consensus rating of "Hold" and an average target price of $192.20.

Insider Buying and Selling at Houlihan Lokey

In related news, Chairman Irwin Gold sold 5,000 shares of Houlihan Lokey stock in a transaction that occurred 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 document filed with the SEC, which is available through the SEC website. Also, Chairman Scott L. Beiser sold 8,008 shares of the company's stock in a transaction that occurred on Monday, May 19th. The stock was sold at an average price of $178.71, for a total transaction of $1,431,109.68. The disclosure for this sale can be found here. Insiders have sold a total of 13,508 shares of company stock worth $2,431,670 over the last 90 days. Insiders own 23.68% of the company's stock.

Houlihan Lokey Trading Up 1.1%

Shares of Houlihan Lokey stock opened at $185.51 on Friday. The company has a market cap of $12.95 billion, a PE ratio of 31.87 and a beta of 0.83. The company has a 50 day moving average of $174.09 and a 200-day moving average of $170.29. Houlihan Lokey, Inc. has a 1-year low of $133.48 and a 1-year high of $192.10.

Houlihan Lokey (NYSE:HLI - Get Free Report) last released its earnings results on Wednesday, May 7th. The financial services provider reported $1.96 earnings per share for the quarter, topping the consensus estimate of $1.61 by $0.35. Houlihan Lokey had a return on equity of 21.61% and a net margin of 16.73%. The firm had revenue of $666.42 million during the quarter, compared to analysts' expectations of $628.25 million. During the same period in the prior year, the company earned $1.27 earnings per share. The company's quarterly revenue was up 28.0% on a year-over-year basis. Research analysts forecast that Houlihan Lokey, Inc. will post 5.98 earnings per share for the current year.

Houlihan Lokey Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Sunday, June 15th. Investors of record on Monday, June 2nd were paid a $0.60 dividend. The ex-dividend date of this dividend was Monday, June 2nd. This is a positive change from Houlihan Lokey's previous quarterly dividend of $0.57. This represents a $2.40 annualized dividend and a yield of 1.29%. Houlihan Lokey's dividend payout ratio (DPR) 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.

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