Houlihan Lokey, Inc. $HLI Shares Acquired by Resources Management Corp CT ADV

Key Points

• Resources Management Corp CT ADV increased its position in Houlihan Lokey, Inc. by 42.3% during the 1st quarter, acquiring an additional 1,722 shares, bringing its total holdings to 5,790 shares valued at $935,000.
• Houlihan Lokey's recent earnings report showed a strong performance with $2.14 earnings per share, significantly surpassing analysts' expectations of $1.69, and a revenue increase of 17.8% year-over-year to $605.35 million.
• The company announced a quarterly dividend of $0.60 per share, representing a 1.2% yield and an annualized dividend of $2.40.

Resources Management Corp CT ADV grew its position in shares of Houlihan Lokey, Inc. (NYSE:HLI - Free Report) by 42.3% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 5,790 shares of the financial services provider's stock after acquiring an additional 1,722 shares during the period. Resources Management Corp CT ADV's holdings in Houlihan Lokey were worth $935,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently modified their holdings of the stock. Bogart Wealth LLC boosted its stake in Houlihan Lokey by 111.1% during the first quarter. Bogart Wealth LLC now owns 152 shares of the financial services provider's stock worth $25,000 after acquiring an additional 80 shares in the last quarter. Motco bought a new position in shares of Houlihan Lokey in the first quarter worth approximately $29,000. Brooklyn Investment Group purchased a new position in shares of Houlihan Lokey during the first quarter valued at approximately $33,000. TCTC Holdings LLC raised its holdings in shares of Houlihan Lokey by 103.5% during the first 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 last quarter. Finally, Caitong International Asset Management Co. Ltd raised its holdings in shares of Houlihan Lokey by 3,714.3% during the first 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 last quarter. Hedge funds and other institutional investors own 78.07% of the company's stock.

Analyst Upgrades and Downgrades

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

Insider Activity

In other news, Chairman Paul Eric Siegert sold 40,000 shares of the firm's stock in a transaction dated 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 SEC, which can be accessed through this link. Also, 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 disclosure for this sale can be found here. In the last ninety days, insiders have sold 45,500 shares of company stock worth $9,010,160. Corporate insiders own 22.83% of the company's stock.

Houlihan Lokey Stock Down 1.4%

HLI stock traded down $2.91 during trading on Friday, hitting $205.24. The company had a trading volume of 342,286 shares, compared to its average volume of 388,850. The firm has a market capitalization of $14.43 billion, a P/E ratio of 34.55 and a beta of 0.86. Houlihan Lokey, Inc. has a 52-week low of $137.99 and a 52-week high of $208.50. The company has a 50 day simple moving average of $194.45 and a 200-day simple moving average of $176.37.

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 the consensus estimate of $1.69 by $0.45. The company had revenue of $605.35 million for the quarter, compared to the consensus estimate of $573.07 million. Houlihan Lokey had a net margin of 16.46% and a return on equity of 23.75%. The firm's revenue was up 17.8% compared to the same quarter last year. During the same quarter last year, the firm posted $1.22 EPS. Sell-side analysts forecast that Houlihan Lokey, Inc. will post 5.98 earnings per share for the current year.

Houlihan Lokey Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, September 15th. Shareholders of record on Tuesday, September 2nd will be given a dividend of $0.60 per share. The ex-dividend date of this dividend is Tuesday, September 2nd. This represents a $2.40 dividend on an annualized basis and a yield of 1.2%. Houlihan Lokey's dividend payout ratio (DPR) is 40.40%.

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.