Smith Group Asset Management LLC Buys New Holdings in Houlihan Lokey, Inc. (NYSE:HLI)

Smith Group Asset Management LLC acquired a new position in shares of Houlihan Lokey, Inc. (NYSE:HLI - Free Report) during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm acquired 4,330 shares of the financial services provider's stock, valued at approximately $699,000.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. Private Trust Co. NA bought a new stake in shares of Houlihan Lokey in the fourth quarter worth about $29,000. Thurston Springer Miller Herd & Titak Inc. bought a new stake in Houlihan Lokey during the 1st quarter worth approximately $54,000. Versant Capital Management Inc raised its holdings 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 buying an additional 320 shares during the period. Kapitalo Investimentos Ltda bought a new position in Houlihan Lokey in the fourth quarter valued at approximately $105,000. Finally, Golden State Wealth Management LLC boosted its holdings in shares of Houlihan Lokey by 101.0% in the first quarter. Golden State Wealth Management LLC now owns 613 shares of the financial services provider's stock valued at $99,000 after buying an additional 308 shares during the period. 78.07% of the stock is currently owned by institutional investors.

Houlihan Lokey Stock Up 1.1%

HLI traded up $2.04 during trading hours on Friday, hitting $185.51. 265,347 shares of the company's stock were exchanged, compared to its average volume of 356,731. The stock has a market cap of $12.95 billion, a price-to-earnings ratio of 31.87 and a beta of 0.83. Houlihan Lokey, Inc. has a 1-year low of $133.48 and a 1-year high of $192.10. The stock's 50-day moving average is $174.61 and its two-hundred day moving average is $170.34.

Houlihan Lokey (NYSE:HLI - Get Free Report) last issued its quarterly earnings results on Wednesday, May 7th. The financial services provider reported $1.96 EPS 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 firm had revenue of $666.42 million for the quarter, compared to analysts' expectations of $628.25 million. During the same period in the previous year, the firm posted $1.27 EPS. The company's revenue for the quarter was up 28.0% on a year-over-year basis. On average, equities research analysts anticipate that Houlihan Lokey, Inc. will post 5.98 EPS for the current year.

Houlihan Lokey Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Sunday, June 15th. Investors of record on Monday, June 2nd were issued a dividend of $0.60 per share. This represents a $2.40 annualized dividend and a yield of 1.29%. The ex-dividend date of this dividend was Monday, June 2nd. This is a positive change from Houlihan Lokey's previous quarterly dividend of $0.57. Houlihan Lokey's dividend payout ratio is presently 41.24%.

Insider Activity at Houlihan Lokey

In other news, Chairman Scott L. Beiser sold 8,008 shares of the 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 filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, General Counsel Christopher M. Crain sold 500 shares of the firm's stock in a transaction on Monday, June 2nd. The shares were sold at an average price of $173.02, for a total transaction of $86,510.00. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 13,508 shares of company stock valued at $2,431,670. Insiders own 23.68% of the company's stock.

Wall Street Analyst Weigh In

A number of equities research analysts recently commented on HLI shares. Wells Fargo & Company raised their price objective on shares of Houlihan Lokey from $170.00 to $185.00 and gave the stock an "overweight" rating in a report on Thursday, May 8th. Wall Street Zen cut Houlihan Lokey from a "buy" rating to a "hold" rating in a report on Friday, June 27th. Keefe, Bruyette & Woods lifted their price target on Houlihan Lokey from $183.00 to $185.00 and gave the company a "market perform" rating in a research note on Monday, May 12th. Finally, Morgan Stanley reaffirmed an "overweight" rating and set a $192.00 price objective (up from $159.00) on shares of Houlihan Lokey in a research report on Monday, June 23rd. Four research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to MarketBeat, Houlihan Lokey currently has a consensus rating of "Hold" and an average target price of $192.20.

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.