Smith Group Asset Management LLC Invests $699,000 in Houlihan Lokey, Inc. (NYSE:HLI)

Smith Group Asset Management LLC purchased a new position in shares of Houlihan Lokey, Inc. (NYSE:HLI - Free Report) in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor purchased 4,330 shares of the financial services provider's stock, valued at approximately $699,000.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Elevation Point Wealth Partners LLC purchased a new stake in shares of Houlihan Lokey during the first quarter worth approximately $619,000. QRG Capital Management Inc. increased its stake in Houlihan Lokey by 9.7% in the 1st quarter. QRG Capital Management Inc. now owns 4,987 shares of the financial services provider's stock valued at $805,000 after buying an additional 439 shares during the period. Jones Financial Companies Lllp raised its position in Houlihan Lokey by 80.9% during the 4th quarter. Jones Financial Companies Lllp now owns 5,638 shares of the financial services provider's stock worth $979,000 after buying an additional 2,521 shares during the last quarter. Sowell Financial Services LLC acquired a new stake in shares of Houlihan Lokey in the 1st quarter worth $313,000. Finally, Harbor Capital Advisors Inc. acquired a new stake in shares of Houlihan Lokey in the 1st quarter worth $3,297,000. 78.07% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In related news, General Counsel Christopher M. Crain sold 500 shares of the firm's 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 transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, Chairman Irwin Gold sold 5,000 shares of Houlihan Lokey stock in a transaction on Monday, June 30th. The shares were sold at an average price of $182.81, for a total value of $914,050.00. The disclosure for this sale can be found here. Insiders have sold a total of 13,508 shares of company stock valued at $2,431,670 in the last quarter. Company insiders own 23.68% of the company's stock.

Houlihan Lokey Price Performance

HLI traded up $1.40 during trading hours on Tuesday, reaching $181.35. 557,632 shares of the stock traded hands, compared to its average volume of 355,154. Houlihan Lokey, Inc. has a fifty-two week low of $133.48 and a fifty-two week high of $192.10. The company has a market cap of $12.66 billion, a price-to-earnings ratio of 31.16 and a beta of 0.83. The firm's fifty day simple moving average is $172.49 and its two-hundred day simple moving average is $170.08.

Houlihan Lokey (NYSE:HLI - Get Free Report) last announced its quarterly earnings data on Wednesday, May 7th. The financial services provider reported $1.96 earnings per share for the quarter, topping the consensus estimate of $1.61 by $0.35. Houlihan Lokey had a net margin of 16.73% and a return on equity of 21.61%. The company had revenue of $666.42 million during the quarter, compared to analyst estimates of $628.25 million. During the same period last year, the business earned $1.27 EPS. The firm's revenue for the quarter was up 28.0% compared to the same quarter last year. On average, research analysts predict that Houlihan Lokey, Inc. will post 5.98 earnings per share for the current year.

Houlihan Lokey Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Sunday, June 15th. Stockholders of record on Monday, June 2nd were given a dividend of $0.60 per share. The ex-dividend date was Monday, June 2nd. This represents a $2.40 annualized dividend and a dividend yield of 1.32%. This is a positive change from Houlihan Lokey's previous quarterly dividend of $0.57. Houlihan Lokey's dividend payout ratio is currently 41.24%.

Wall Street Analyst Weigh In

Several research analysts recently issued reports on HLI shares. Wall Street Zen cut shares of Houlihan Lokey from a "buy" rating to a "hold" rating in a report on Friday. Keefe, Bruyette & Woods raised their price target on Houlihan Lokey from $183.00 to $185.00 and gave the company a "market perform" rating in a report on Monday, May 12th. Morgan Stanley reaffirmed an "overweight" rating and set a $192.00 price objective (up previously from $159.00) on shares of Houlihan Lokey in a report on Monday, June 23rd. Finally, Wells Fargo & Company raised their target price on Houlihan Lokey from $170.00 to $185.00 and gave the company an "overweight" rating in a report on Thursday, May 8th. Four investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat, Houlihan Lokey has an average rating of "Hold" and an average target price of $192.20.

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.