Houlihan Lokey, Inc. $HLI Shares Bought by OMERS ADMINISTRATION Corp

Key Points

• OMERS ADMINISTRATION Corp increased its stake in Houlihan Lokey, Inc. by 164.0% during the first quarter, bringing its total holdings to 13,200 shares valued at approximately $2.13 million.
• The company reported a quarterly EPS of $2.14, exceeding estimates by $0.45, with a revenue of $605.35 million for the quarter, reflecting a 17.8% year-over-year growth.
• A quarterly dividend of $0.60 per share was declared, with an ex-dividend date of September 2nd, representing an annualized dividend yield of 1.2%.

OMERS ADMINISTRATION Corp raised its stake in Houlihan Lokey, Inc. (NYSE:HLI - Free Report) by 164.0% during the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 13,200 shares of the financial services provider's stock after purchasing an additional 8,200 shares during the quarter. OMERS ADMINISTRATION Corp's holdings in Houlihan Lokey were worth $2,132,000 at the end of the most recent quarter.

A number of other hedge funds also recently made changes to their positions in the stock. Champlain Investment Partners LLC acquired a new position in shares of Houlihan Lokey in the 1st quarter valued at $29,919,000. Comerica Bank lifted its holdings in shares of Houlihan Lokey by 71.5% during the 1st quarter. Comerica Bank now owns 44,397 shares of the financial services provider's stock valued at $7,170,000 after acquiring an additional 18,509 shares in the last quarter. Jump Financial LLC lifted its holdings in shares of Houlihan Lokey by 327.9% during the 1st quarter. Jump Financial LLC now owns 26,197 shares of the financial services provider's stock valued at $4,231,000 after acquiring an additional 20,075 shares in the last quarter. AlphaQuest LLC lifted its holdings in shares of Houlihan Lokey by 69.5% during the 1st quarter. AlphaQuest LLC now owns 4,027 shares of the financial services provider's stock valued at $650,000 after acquiring an additional 1,651 shares in the last quarter. Finally, CW Advisors LLC acquired a new position in shares of Houlihan Lokey during the 1st quarter valued at $10,296,000. Institutional investors and hedge funds own 78.07% of the company's stock.

Analysts Set New Price Targets

HLI has been the topic of several analyst reports. Wells Fargo & Company lifted their price target on shares of Houlihan Lokey from $185.00 to $209.00 and gave the stock an "overweight" rating in a research note on Friday, July 11th. 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. Wall Street Zen downgraded shares of Houlihan Lokey from a "buy" rating to a "hold" rating in a research note on Saturday, August 2nd. Finally, Keefe, Bruyette & Woods raised shares of Houlihan Lokey from a "hold" rating to a "moderate buy" rating and lifted their price target for the stock from $185.00 to $232.00 in a research note on Monday, July 14th. Three analysts have rated the stock with a Buy rating and two have given a Hold rating to the company's stock. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average target price of $206.40.

Insider Buying and Selling at Houlihan Lokey

In other Houlihan Lokey news, General Counsel Christopher M. Crain sold 500 shares of the business's stock in a transaction dated Tuesday, September 2nd. The shares were sold at an average price of $196.22, for a total transaction of $98,110.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Chairman Irwin Gold sold 5,000 shares of the business's stock in a transaction dated Monday, June 30th. The shares were 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 45,500 shares of company stock valued at $9,010,160 in the last ninety days. Company insiders own 22.83% of the company's stock.

Houlihan Lokey Price Performance

Shares of NYSE:HLI traded up $4.55 during trading on Thursday, reaching $195.97. 128,148 shares of the company's stock traded hands, compared to its average volume of 400,943. Houlihan Lokey, Inc. has a 12 month low of $137.99 and a 12 month high of $201.63. The company has a 50 day moving average of $192.00 and a 200-day moving average of $175.11. The stock has a market capitalization of $13.78 billion, a P/E ratio of 32.99 and a beta of 0.86.

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 for the quarter, beating analysts' consensus estimates of $1.69 by $0.45. Houlihan Lokey had a net margin of 16.46% and a return on equity of 23.75%. The business 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% compared to the same quarter last year. Equities research analysts predict that Houlihan Lokey, Inc. will post 5.98 earnings per share for the current fiscal year.

Houlihan Lokey Announces Dividend

The company 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 yield of 1.2%. The ex-dividend date of this dividend is Tuesday, September 2nd. Houlihan Lokey's payout ratio is presently 40.40%.

About Houlihan Lokey

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.