PDT Partners LLC Buys 7,566 Shares of Houlihan Lokey, Inc. $HLI

Key Points

• PDT Partners LLC increased its holdings in Houlihan Lokey, acquiring an additional 7,566 shares and raising its total stake by 300%, bringing its total ownership to 10,088 shares valued at approximately $1.63 million.
• Houlihan Lokey reported strong quarterly earnings, with $2.14 earnings per share, surpassing expectations and reflecting a 17.8% increase in revenue year-over-year.
• The company declared a quarterly dividend of $0.60, which will be paid on September 15th, representing an annualized yield of 1.2%.

PDT Partners LLC lifted its stake in Houlihan Lokey, Inc. (NYSE:HLI - Free Report) by 300.0% during the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 10,088 shares of the financial services provider's stock after purchasing an additional 7,566 shares during the period. PDT Partners LLC's holdings in Houlihan Lokey were worth $1,629,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also made changes to their positions in HLI. Ameriprise Financial Inc. boosted its position in shares of Houlihan Lokey by 10.5% in the 4th quarter. Ameriprise Financial Inc. now owns 772,789 shares of the financial services provider's stock worth $134,195,000 after purchasing an additional 73,566 shares during the last quarter. BNP Paribas Financial Markets boosted its position in shares of Houlihan Lokey by 3.1% in the 4th quarter. BNP Paribas Financial Markets now owns 86,597 shares of the financial services provider's stock worth $15,038,000 after purchasing an additional 2,611 shares during the last quarter. Benjamin Edwards Inc. boosted its position in shares of Houlihan Lokey by 5.7% in the 4th quarter. Benjamin Edwards Inc. now owns 1,636 shares of the financial services provider's stock worth $284,000 after purchasing an additional 88 shares during the last quarter. Balyasny Asset Management L.P. bought a new position in shares of Houlihan Lokey in the 4th quarter worth $22,191,000. Finally, Baird Financial Group Inc. bought a new position in shares of Houlihan Lokey in the 4th quarter worth $546,000. 78.07% of the stock is currently owned by institutional investors.

Insider Transactions at Houlihan Lokey

In other news, General Counsel Christopher M. Crain sold 500 shares of the business's stock in a transaction that occurred on Tuesday, September 2nd. The stock was sold at an average price of $196.22, for a total transaction of $98,110.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, Chairman Irwin Gold sold 5,000 shares of the business's stock in a transaction that occurred on Monday, June 30th. The stock was 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 sold a total of 45,500 shares of company stock worth $9,010,160 over the last quarter. Company insiders own 22.83% of the company's stock.

Analyst Ratings Changes

Several research analysts have weighed in on the company. Morgan Stanley reiterated an "overweight" rating and set a $192.00 target price (up from $159.00) on shares of Houlihan Lokey in a report on Monday, June 23rd. Keefe, Bruyette & Woods upgraded Houlihan Lokey from a "hold" rating to a "moderate buy" rating and lifted their target price for the stock from $185.00 to $232.00 in a report on Monday, July 14th. Wells Fargo & Company lifted 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. Finally, Wall Street Zen lowered Houlihan Lokey from a "buy" rating to a "hold" rating in a report on Saturday, August 2nd. Three investment analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $206.40.

Houlihan Lokey Stock Performance

Houlihan Lokey stock traded down $0.65 during midday trading on Friday, reaching $196.81. 553,519 shares of the company's stock were exchanged, compared to its average volume of 360,885. Houlihan Lokey, Inc. has a 52 week low of $137.99 and a 52 week high of $201.63. The firm has a market cap of $13.84 billion, a price-to-earnings ratio of 33.13 and a beta of 0.86. The stock's 50-day simple moving average is $192.57 and its 200 day simple moving average is $175.35.

Houlihan Lokey (NYSE:HLI - Get Free Report) last posted its quarterly earnings results on Tuesday, July 29th. The financial services provider reported $2.14 EPS for the quarter, topping analysts' consensus estimates of $1.69 by $0.45. Houlihan Lokey had a return on equity of 23.75% and a net margin of 16.46%.The business had revenue of $605.35 million during the quarter, compared to analysts' expectations of $573.07 million. During the same quarter last year, the company posted $1.22 earnings per share. Houlihan Lokey's quarterly revenue was up 17.8% 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 Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, September 15th. Stockholders of record on Tuesday, September 2nd will be issued 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 is Tuesday, September 2nd. Houlihan Lokey's payout ratio 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.