PineStone Asset Management Inc. Purchases 5,100 Shares of Houlihan Lokey, Inc. $HLI

Key Points

• PineStone Asset Management Inc. increased its stake in Houlihan Lokey, acquiring 5,100 additional shares to total 74,495 shares, valued at approximately $13.4 million.
• Fiscal performance shows Houlihan Lokey reported $2.14 EPS for the last quarter, exceeding expectations and showing a 17.8% increase in revenue compared to the previous year.
• Analysts have a positive outlook on Houlihan Lokey, with a consensus rating of "Moderate Buy" and an average price target of $210.60.

PineStone Asset Management Inc. grew its position in Houlihan Lokey, Inc. (NYSE:HLI - Free Report) by 7.3% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 74,495 shares of the financial services provider's stock after acquiring an additional 5,100 shares during the period. PineStone Asset Management Inc. owned 0.11% of Houlihan Lokey worth $13,405,000 at the end of the most recent reporting period.

A number of other large investors have also bought and sold shares of the business. Two Sigma Investments LP increased its holdings in Houlihan Lokey by 70.2% during the 4th quarter. Two Sigma Investments LP now owns 3,249 shares of the financial services provider's stock valued at $564,000 after purchasing an additional 1,340 shares in the last quarter. Wolverine Trading LLC acquired a new stake in shares of Houlihan Lokey in the fourth quarter valued at $270,000. B. Riley Wealth Advisors Inc. bought a new position in shares of Houlihan Lokey in the fourth quarter valued at about $459,000. Wealth Enhancement Advisory Services LLC lifted its position in Houlihan Lokey by 4.8% during the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 27,485 shares of the financial services provider's stock worth $4,773,000 after buying an additional 1,261 shares in the last quarter. Finally, California State Teachers Retirement System grew its holdings in Houlihan Lokey by 5.9% during the 4th quarter. California State Teachers Retirement System now owns 52,656 shares of the financial services provider's stock worth $9,144,000 after acquiring an additional 2,947 shares during the last quarter. 78.07% of the stock is currently owned by institutional investors.

Houlihan Lokey Trading Down 0.1%

NYSE:HLI opened at $205.38 on Friday. Houlihan Lokey, Inc. has a 1-year low of $137.99 and a 1-year high of $211.78. The firm has a market capitalization of $14.44 billion, a price-to-earnings ratio of 34.58 and a beta of 0.86. The business's 50-day moving average price is $197.25 and its two-hundred day moving average price is $178.95.

Houlihan Lokey (NYSE:HLI - Get Free Report) last posted its earnings results on Tuesday, July 29th. The financial services provider reported $2.14 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.69 by $0.45. The company had revenue of $605.35 million during the quarter, compared to analyst estimates of $573.07 million. Houlihan Lokey had a return on equity of 23.75% and a net margin of 16.46%.The company's revenue for the quarter was up 17.8% compared to the same quarter last year. During the same period in the previous year, the company earned $1.22 EPS. Sell-side analysts predict that Houlihan Lokey, Inc. will post 5.98 earnings per share for the current year.

Houlihan Lokey Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, September 15th. Shareholders of record on Tuesday, September 2nd were issued a $0.60 dividend. The ex-dividend date was Tuesday, September 2nd. This represents a $2.40 annualized dividend and a yield of 1.2%. Houlihan Lokey's dividend payout ratio (DPR) is 40.40%.

Insider Activity

In related news, Chairman Paul Eric Siegert sold 40,000 shares of the company's stock in a transaction on Wednesday, August 27th. The shares were sold at an average price of $199.95, for a total value of $7,998,000.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, Chairman Irwin Gold sold 6,811 shares of Houlihan Lokey stock in a transaction dated Tuesday, September 16th. The stock was sold at an average price of $202.75, for a total value of $1,380,930.25. The disclosure for this sale can be found here. Insiders sold 52,311 shares of company stock valued at $10,391,090 in the last quarter. Company insiders own 22.83% of the company's stock.

Analyst Ratings Changes

HLI has been the topic of several research analyst reports. Keefe, Bruyette & Woods raised shares of Houlihan Lokey from a "hold" rating to a "moderate buy" rating and increased their price target for the company from $185.00 to $232.00 in a research note on Monday, July 14th. Morgan Stanley increased their price objective on Houlihan Lokey from $192.00 to $213.00 and gave the company an "overweight" rating in a research report on Monday, September 8th. Wells Fargo & Company boosted their target price on Houlihan Lokey from $185.00 to $209.00 and gave the stock an "overweight" rating in a research report on Friday, July 11th. Finally, Wall Street Zen cut Houlihan Lokey from a "buy" rating to a "hold" rating in a report on Saturday, August 2nd. Three research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company. Based on data from MarketBeat, Houlihan Lokey currently has a consensus rating of "Moderate Buy" and an average price target of $210.60.

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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