Nuveen LLC Purchases Shares of 145,376 Houlihan Lokey, Inc. $HLI

Key Points

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Nuveen LLC bought a new stake in shares of Houlihan Lokey, Inc. (NYSE:HLI - Free Report) during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The firm bought 145,376 shares of the financial services provider's stock, valued at approximately $23,478,000. Nuveen LLC owned about 0.21% of Houlihan Lokey at the end of the most recent quarter.

Other institutional investors have also added to or reduced their stakes in the company. GAMMA Investing LLC lifted its holdings in shares of Houlihan Lokey by 39,574.9% during the 1st quarter. GAMMA Investing LLC now owns 686,375 shares of the financial services provider's stock valued at $1,108,500,000 after buying an additional 684,645 shares during the period. Congress Asset Management Co. bought a new position in shares of Houlihan Lokey during the 1st quarter valued at $81,420,000. Westfield Capital Management Co. LP bought a new position in shares of Houlihan Lokey during the 1st quarter valued at $46,236,000. Handelsbanken Fonder AB lifted its holdings in shares of Houlihan Lokey by 1,946.8% during the 1st quarter. Handelsbanken Fonder AB now owns 275,458 shares of the financial services provider's stock valued at $44,486,000 after buying an additional 262,000 shares during the period. Finally, Balyasny Asset Management L.P. bought a new position in shares of Houlihan Lokey during the 4th quarter valued at $22,191,000. 78.07% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of equities analysts recently commented on the company. Wells Fargo & Company raised their target price on Houlihan Lokey from $185.00 to $209.00 and gave the stock an "overweight" rating in a report on Friday, July 11th. Morgan Stanley reaffirmed an "overweight" rating and issued a $192.00 target price (up from $159.00) on shares of Houlihan Lokey in a report on Monday, June 23rd. Wall Street Zen cut Houlihan Lokey from a "buy" rating to a "hold" rating in a report on Saturday, August 2nd. Finally, Keefe, Bruyette & Woods raised Houlihan Lokey from a "hold" rating to a "moderate buy" rating and raised their target price for the stock from $185.00 to $232.00 in a report on Monday, July 14th. Three investment analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus price target of $206.40.

Insider Activity at Houlihan Lokey

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 stock was sold at an average price of $173.02, for a total value of $86,510.00. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, Chairman Irwin Gold sold 5,000 shares of the company's stock in a transaction on Monday, June 30th. The shares were sold at an average price of $182.81, for a total value 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 Houlihan Lokey stock traded up $5.0030 during trading hours on Friday, hitting $197.0230. 170,059 shares of the company's stock traded hands, compared to its average volume of 401,452. Houlihan Lokey, Inc. has a 12-month low of $137.99 and a 12-month high of $198.78. The stock has a market capitalization of $13.85 billion, a price-to-earnings ratio of 33.18 and a beta of 0.86. The company has a fifty day simple moving average of $187.81 and a 200-day simple moving average of $174.07.

Houlihan Lokey (NYSE:HLI - Get Free Report) last posted 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 return on equity of 23.75% and a net margin of 16.46%.The company 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 company earned $1.22 EPS. The firm's quarterly revenue was up 17.8% compared to the same quarter last year. On average, analysts forecast that Houlihan Lokey, Inc. will post 5.98 EPS for the current fiscal year.

Houlihan Lokey Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, September 15th. Stockholders 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 dividend yield of 1.2%. The ex-dividend date is Tuesday, September 2nd. Houlihan Lokey's dividend payout ratio (DPR) is currently 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.