Smith Group Asset Management LLC Buys 2,990 Shares of Houlihan Lokey, Inc. $HLI

Key Points

• Smith Group Asset Management LLC increased its holdings in Houlihan Lokey, Inc. by 69.1% during the second quarter, now owning 7,320 shares valued at approximately $1.32 million.
• Houlihan Lokey reported a strong quarterly performance with $2.14 EPS, surpassing analysts' expectations of $1.69, and revenue rose by 17.8% year-over-year.
• A recent dividend of $0.60 per share was issued, representing a 1.2% yield, with a payout ratio of 40.40% of earnings.

Smith Group Asset Management LLC raised its stake in shares of Houlihan Lokey, Inc. (NYSE:HLI - Free Report) by 69.1% during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 7,320 shares of the financial services provider's stock after purchasing an additional 2,990 shares during the period. Smith Group Asset Management LLC's holdings in Houlihan Lokey were worth $1,317,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also recently modified their holdings of the company. 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 valued at $25,000 after purchasing an additional 80 shares during the last quarter. Motco bought a new stake in shares of Houlihan Lokey in the 1st quarter worth about $29,000. Brooklyn Investment Group purchased a new position in shares of Houlihan Lokey during the 1st quarter worth about $33,000. Trust Co. of Toledo NA OH bought a new position in Houlihan Lokey during the 2nd quarter valued at about $34,000. Finally, TCTC Holdings LLC raised its position in Houlihan Lokey by 103.5% in the 1st quarter. TCTC Holdings LLC now owns 232 shares of the financial services provider's stock worth $37,000 after purchasing an additional 118 shares during the period. Hedge funds and other institutional investors own 78.07% of the company's stock.

Houlihan Lokey Trading Up 1.6%

Shares of Houlihan Lokey stock opened at $197.22 on Friday. Houlihan Lokey, Inc. has a 12 month low of $137.99 and a 12 month high of $211.78. The stock's fifty day moving average price is $198.31 and its 200-day moving average price is $183.92. The firm has a market cap of $13.87 billion, a P/E ratio of 33.20 and a beta of 0.87.

Houlihan Lokey (NYSE:HLI - Get Free Report) last posted its earnings results 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 net margin of 16.46% and a return on equity of 23.75%. The business had revenue of $605.35 million for the quarter, compared to the consensus estimate of $573.07 million. During the same quarter last year, the firm posted $1.22 EPS. The company's revenue for the quarter was up 17.8% on a year-over-year basis. Analysts forecast that Houlihan Lokey, Inc. will post 5.98 earnings per share for the current year.

Houlihan Lokey Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, September 15th. Shareholders of record on Tuesday, September 2nd were issued a dividend of $0.60 per share. The ex-dividend date was 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 is currently 40.40%.

Analysts Set New Price Targets

A number of research firms have recently commented on HLI. Wells Fargo & Company upped their target price on Houlihan Lokey from $185.00 to $209.00 and gave the company an "overweight" rating in a research note on Friday, July 11th. Deutsche Bank Aktiengesellschaft began coverage on Houlihan Lokey in a research note on Thursday, October 9th. They issued a "hold" rating and a $210.00 target price on the stock. Wall Street Zen lowered shares of Houlihan Lokey from a "buy" rating to a "hold" rating in a research note on Saturday, August 2nd. Zacks Research cut shares of Houlihan Lokey from a "strong-buy" rating to a "hold" rating in a report on Monday, September 29th. Finally, Weiss Ratings reiterated a "buy (b-)" rating on shares of Houlihan Lokey in a report on Wednesday, October 8th. One research analyst has rated the stock with a Strong Buy rating, five have given a Buy rating and four have issued a Hold rating to the company. According to data from MarketBeat, the company has an average rating of "Moderate Buy" and a consensus target price of $212.43.

Insider Activity

In other news, Chairman Paul Eric Siegert sold 40,000 shares of the business's stock in a transaction on Wednesday, August 27th. The stock was sold at an average price of $199.95, for a total value of $7,998,000.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, General Counsel Christopher M. Crain sold 500 shares of the firm's stock in a transaction dated Tuesday, September 2nd. The shares were sold at an average price of $196.22, for a total value of $98,110.00. The disclosure for this sale can be found here. In the last three months, insiders have sold 47,311 shares of company stock worth $9,477,040. 22.83% of the stock is currently owned by company insiders.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.