Raymond James Financial Inc. Sells 34,590 Shares of Houlihan Lokey, Inc. $HLI

Key Points

• Raymond James Financial Inc. reduced its stake in Houlihan Lokey, Inc. by 4.2%, now holding approximately 1.13% of the company valued at $127.92 million.
• Houlihan Lokey reported earnings of $2.14 EPS for the last quarter, surpassing analysts' expectations of $1.69 EPS and achieving a 17.8% year-over-year revenue growth.
• The company declared a quarterly dividend of $0.60 per share, representing an annualized dividend of $2.40 with a yield of 1.3%.

Raymond James Financial Inc. cut its holdings in Houlihan Lokey, Inc. (NYSE:HLI - Free Report) by 4.2% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 792,076 shares of the financial services provider's stock after selling 34,590 shares during the period. Raymond James Financial Inc. owned 1.13% of Houlihan Lokey worth $127,920,000 as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in the business. Bogart Wealth LLC grew its stake in shares of Houlihan Lokey by 111.1% in the 1st quarter. Bogart Wealth LLC now owns 152 shares of the financial services provider's stock worth $25,000 after buying an additional 80 shares in the last quarter. Mariner LLC grew its stake in shares of Houlihan Lokey by 0.7% in the 4th quarter. Mariner LLC now owns 12,220 shares of the financial services provider's stock worth $2,122,000 after buying an additional 81 shares in the last quarter. First Horizon Advisors Inc. grew its stake in shares of Houlihan Lokey by 17.5% in the 1st quarter. First Horizon Advisors Inc. now owns 550 shares of the financial services provider's stock worth $89,000 after buying an additional 82 shares in the last quarter. Callan Family Office LLC grew its stake in shares of Houlihan Lokey by 6.2% in the 1st quarter. Callan Family Office LLC now owns 1,500 shares of the financial services provider's stock worth $242,000 after buying an additional 87 shares in the last quarter. Finally, Benjamin Edwards Inc. grew its stake 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 buying an additional 88 shares in the last quarter. 78.07% of the stock is currently owned by institutional investors.

Insider Activity

In other news, General Counsel Christopher M. Crain sold 500 shares of the business's stock in a transaction dated Monday, June 2nd. The shares were 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 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 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 own 22.83% of the company's stock.

Houlihan Lokey Stock Up 2.8%

HLI traded up $5.3320 on Friday, reaching $197.3520. 378,572 shares of the company traded hands, compared to its average volume of 402,889. Houlihan Lokey, Inc. has a one year low of $137.99 and a one year high of $198.78. The firm has a fifty day simple moving average of $187.81 and a two-hundred day simple moving average of $174.07. The company has a market cap of $13.88 billion, a P/E ratio of 33.22 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 company had revenue of $605.35 million during the quarter, compared to analyst estimates of $573.07 million. During the same quarter last year, the business posted $1.22 EPS. The firm's revenue for the quarter was up 17.8% on a year-over-year basis. On average, equities analysts forecast that Houlihan Lokey, Inc. will post 5.98 earnings per share for the current year.

Houlihan Lokey Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, September 15th. Stockholders of record on Tuesday, September 2nd will be issued a $0.60 dividend. The ex-dividend date is Tuesday, September 2nd. This represents a $2.40 annualized dividend and a dividend yield of 1.2%. Houlihan Lokey's payout ratio is currently 40.40%.

Analyst Upgrades and Downgrades

A number of equities analysts recently commented on the stock. Morgan Stanley reaffirmed an "overweight" rating and set a $192.00 price target (up from $159.00) on shares of Houlihan Lokey in a research note on Monday, June 23rd. Wall Street Zen cut shares of Houlihan Lokey from a "buy" rating to a "hold" rating in a research note on Saturday, August 2nd. 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. Finally, 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. Three equities research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average price target of $206.40.

Houlihan Lokey 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.