OneAscent Investment Solutions LLC Invests $511,000 in Houlihan Lokey, Inc. $HLI

Key Points

• OneAscent Investment Solutions LLC acquired a new stake in Houlihan Lokey, purchasing 3,167 shares valued at approximately $511,000 during the 1st quarter of 2023.
• Recent brokerages' ratings on Houlihan Lokey show a consensus rating of "Moderate Buy", with price targets ranging from $192.00 to $232.00.
• The company announced a quarterly dividend of $0.60, scheduled for payment on September 15th, 2023, representing an annualized yield of 1.2%.

OneAscent Investment Solutions LLC bought a new position in Houlihan Lokey, Inc. (NYSE:HLI - Free Report) during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund bought 3,167 shares of the financial services provider's stock, valued at approximately $511,000.

Several other hedge funds also recently made changes to their positions in HLI. Bogart Wealth LLC increased its stake in shares of Houlihan Lokey by 111.1% in the first quarter. Bogart Wealth LLC now owns 152 shares of the financial services provider's stock worth $25,000 after buying an additional 80 shares during the period. Motco bought a new stake in Houlihan Lokey in the first quarter valued at $29,000. TCTC Holdings LLC increased its position in Houlihan Lokey by 103.5% during the 1st quarter. TCTC Holdings LLC now owns 232 shares of the financial services provider's stock valued at $37,000 after purchasing an additional 118 shares during the period. Caitong International Asset Management Co. Ltd increased its position in Houlihan Lokey by 3,714.3% during the 1st quarter. Caitong International Asset Management Co. Ltd now owns 267 shares of the financial services provider's stock valued at $43,000 after purchasing an additional 260 shares during the period. Finally, Thurston Springer Miller Herd & Titak Inc. purchased a new position in Houlihan Lokey during the 1st quarter valued at $54,000. 78.07% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of research analysts have issued reports on HLI shares. Morgan Stanley reissued an "overweight" rating and set a $192.00 price objective (up from $159.00) on shares of Houlihan Lokey in a research report on Monday, June 23rd. Wall Street Zen cut shares of Houlihan Lokey from a "buy" rating to a "hold" rating in a report on Saturday, August 2nd. Wells Fargo & Company boosted their target price 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. Finally, Keefe, Bruyette & Woods upgraded shares of Houlihan Lokey from a "hold" rating to a "moderate buy" rating and boosted their target price for the company 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. According to data from MarketBeat, Houlihan Lokey has an average rating of "Moderate Buy" and a consensus price target of $206.40.

Insiders Place Their Bets

In other Houlihan Lokey news, General Counsel Christopher M. Crain sold 500 shares of Houlihan Lokey stock in a transaction dated 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 document filed with the SEC, which is available at the SEC website. Also, Chairman Irwin Gold sold 5,000 shares of Houlihan Lokey stock in a transaction dated 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. 22.83% of the stock is owned by company insiders.

Houlihan Lokey Trading Down 0.1%

NYSE:HLI traded down $0.14 during mid-day trading on Tuesday, reaching $191.00. The company's stock had a trading volume of 56,585 shares, compared to its average volume of 401,754. Houlihan Lokey, Inc. has a 12-month low of $137.99 and a 12-month high of $198.78. The firm's fifty day moving average price is $186.75 and its two-hundred day moving average price is $173.73. The stock has a market cap of $13.33 billion, a P/E ratio of 32.15 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 EPS for the quarter, beating the consensus estimate of $1.69 by $0.45. The firm had revenue of $605.35 million during the quarter, compared to analyst estimates of $573.07 million. Houlihan Lokey had a net margin of 16.46% and a return on equity of 23.75%. The business's revenue for the quarter was up 17.8% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $1.22 EPS. Analysts predict that Houlihan Lokey, Inc. will post 5.98 earnings per share for the current fiscal 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 $0.60 dividend. The ex-dividend date is Tuesday, September 2nd. This represents a $2.40 dividend on an annualized basis and a yield of 1.3%. 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.