SCS Capital Management LLC Takes Position in Houlihan Lokey, Inc. $HLI

Key Points

• SCS Capital Management LLC has acquired a new position of approximately $219,000 in Houlihan Lokey, purchasing 1,355 shares in the first quarter.
• The company's stock recently dropped by 1.4% and has a market capitalization of $14.43 billion, with a price-to-earnings ratio of 34.55.
• Houlihan Lokey reported better-than-expected quarterly earnings, with an EPS of $2.14 compared to analysts' estimates of $1.69, and announced a dividend of $0.60 to be paid on September 15th.

SCS Capital Management LLC purchased a new position in shares of Houlihan Lokey, Inc. (NYSE:HLI - Free Report) during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm purchased 1,355 shares of the financial services provider's stock, valued at approximately $219,000.

A number of other hedge funds also recently modified their holdings of the business. Bogart Wealth LLC increased its position in shares of Houlihan Lokey by 111.1% during the 1st quarter. Bogart Wealth LLC now owns 152 shares of the financial services provider's stock worth $25,000 after purchasing an additional 80 shares during the last quarter. Motco bought a new stake in Houlihan Lokey in the 1st quarter valued at $29,000. Brooklyn Investment Group bought a new stake in Houlihan Lokey in the 1st quarter valued at $33,000. TCTC Holdings LLC lifted its position in shares of Houlihan Lokey by 103.5% during the 1st quarter. TCTC Holdings LLC now owns 232 shares of the financial services provider's stock valued at $37,000 after acquiring an additional 118 shares during the period. Finally, Caitong International Asset Management Co. Ltd lifted its position in shares of Houlihan Lokey by 3,714.3% during the 1st quarter. Caitong International Asset Management Co. Ltd now owns 267 shares of the financial services provider's stock valued at $43,000 after acquiring an additional 260 shares during the period. Institutional investors and hedge funds own 78.07% of the company's stock.

Insider Buying and Selling at Houlihan Lokey

In other Houlihan Lokey news, General Counsel Christopher M. Crain sold 500 shares of the firm'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 value of $98,110.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Chairman Paul Eric Siegert sold 40,000 shares of the firm's stock in a transaction that occurred 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 disclosure for this sale can be found here. Over the last quarter, insiders sold 45,500 shares of company stock valued at $9,010,160. Company insiders own 22.83% of the company's stock.

Houlihan Lokey Stock Performance

Houlihan Lokey stock traded up $4.19 during mid-day trading on Thursday, reaching $208.60. The stock had a trading volume of 64,352 shares, compared to its average volume of 400,976. Houlihan Lokey, Inc. has a fifty-two week low of $137.99 and a fifty-two week high of $208.76. The stock's 50-day simple moving average is $195.49 and its 200-day simple moving average is $176.99. The firm has a market capitalization of $14.67 billion, a PE ratio of 35.11 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 EPS for the quarter, beating 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 firm had revenue of $605.35 million during the quarter, compared to analysts' expectations of $573.07 million. During the same quarter last year, the firm posted $1.22 earnings per share. The company's revenue for the quarter was up 17.8% compared to the same quarter last year. On average, research analysts forecast that Houlihan Lokey, Inc. will post 5.98 earnings per share for the current fiscal year.

Houlihan Lokey Announces Dividend

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

Analyst Upgrades and Downgrades

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