Portside Wealth Group LLC Has $701,000 Stake in Houlihan Lokey, Inc. (NYSE:HLI)

Portside Wealth Group LLC boosted its stake in shares of Houlihan Lokey, Inc. (NYSE:HLI - Free Report) by 57.6% in the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 4,340 shares of the financial services provider's stock after purchasing an additional 1,586 shares during the quarter. Portside Wealth Group LLC's holdings in Houlihan Lokey were worth $701,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Private Trust Co. NA acquired a new position in Houlihan Lokey during the 4th quarter valued at approximately $29,000. Golden State Wealth Management LLC acquired a new position in Houlihan Lokey during the 4th quarter worth $53,000. Thurston Springer Miller Herd & Titak Inc. acquired a new position in Houlihan Lokey during the 1st quarter worth $54,000. VisionPoint Advisory Group LLC acquired a new position in Houlihan Lokey during the 4th quarter worth $62,000. Finally, Versant Capital Management Inc boosted its position in Houlihan Lokey by 744.2% during the 1st quarter. Versant Capital Management Inc now owns 363 shares of the financial services provider's stock worth $59,000 after acquiring an additional 320 shares during the period. Institutional investors and hedge funds own 78.07% of the company's stock.

Insider Transactions at Houlihan Lokey

In other Houlihan Lokey news, Chairman Scott L. Beiser sold 8,008 shares of the company's stock in a transaction that occurred on Monday, May 19th. The stock was sold at an average price of $178.71, for a total value of $1,431,109.68. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, General Counsel Christopher M. Crain sold 500 shares of the stock in a transaction that occurred on Monday, June 2nd. The stock was sold at an average price of $173.02, for a total value of $86,510.00. The disclosure for this sale can be found here. 23.68% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of research analysts have issued reports on the company. Wells Fargo & Company boosted their price target on Houlihan Lokey from $170.00 to $185.00 and gave the stock an "overweight" rating in a research report on Thursday, May 8th. Morgan Stanley reduced their price target on Houlihan Lokey from $190.00 to $156.00 and set an "overweight" rating for the company in a research report on Monday, April 7th. Keefe, Bruyette & Woods boosted their price target on Houlihan Lokey from $183.00 to $185.00 and gave the stock a "market perform" rating in a research report on Monday, May 12th. Finally, Wall Street Zen upgraded Houlihan Lokey from a "hold" rating to a "buy" rating in a research report on Thursday, May 22nd. Three equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the company. Based on data from MarketBeat.com, Houlihan Lokey currently has a consensus rating of "Moderate Buy" and a consensus target price of $185.00.

Houlihan Lokey Price Performance

Shares of Houlihan Lokey stock traded down $4.16 during trading on Friday, hitting $171.28. The stock had a trading volume of 272,269 shares, compared to its average volume of 350,730. The business has a fifty day moving average of $167.02 and a two-hundred day moving average of $170.76. The firm has a market cap of $11.95 billion, a P/E ratio of 32.69 and a beta of 0.83. Houlihan Lokey, Inc. has a fifty-two week low of $127.14 and a fifty-two week high of $192.10.

Houlihan Lokey (NYSE:HLI - Get Free Report) last announced its earnings results on Wednesday, May 7th. The financial services provider reported $1.96 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.61 by $0.35. The company had revenue of $666.42 million for the quarter, compared to analyst estimates of $628.25 million. Houlihan Lokey had a return on equity of 20.04% and a net margin of 16.00%. Houlihan Lokey's revenue for the quarter was up 28.0% compared to the same quarter last year. During the same period in the previous year, the firm earned $1.27 earnings per share. As a group, research analysts forecast that Houlihan Lokey, Inc. will post 5.98 earnings per share for the current year.

Houlihan Lokey Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Sunday, June 15th. Stockholders of record on Monday, June 2nd will be paid a dividend of $0.60 per share. This represents a $2.40 annualized dividend and a dividend yield of 1.40%. The ex-dividend date is Monday, June 2nd. This is an increase from Houlihan Lokey's previous quarterly dividend of $0.57. Houlihan Lokey's dividend payout ratio is 41.24%.

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.