Squarepoint Ops LLC Buys 61,321 Shares of Houlihan Lokey, Inc. $HLI

Key Points

• Squarepoint Ops LLC increased its Houlihan Lokey stake by 356.7% in the second quarter, buying 61,321 additional shares to hold 78,512 shares valued at approximately $10.5 million. Institutional investors collectively own 78.07% of the company.
• Houlihan Lokey reported weaker-than-expected quarterly results, with EPS of $1.35 versus the $1.64 consensus estimate and revenue down 15.6% year over year to $511 million. Analysts’ consensus rating is “Hold,” with an average price target of $166.38 compared with the stock’s $136.44 opening price.
• The company declared a quarterly dividend of $0.70 per share, equivalent to an annualized $2.80 payout and a 2.1% yield.

Squarepoint Ops LLC lifted its stake in Houlihan Lokey, Inc. (NYSE:HLI - Free Report) by 356.7% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 78,512 shares of the financial services provider's stock after purchasing an additional 61,321 shares during the period. Squarepoint Ops LLC owned 0.11% of Houlihan Lokey worth $10,531,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Core Wealth Advisors LLC purchased a new stake in Houlihan Lokey in the fourth quarter worth about $32,000. Eurizon Capital SGR S.p.A. purchased a new position in shares of Houlihan Lokey in the 4th quarter valued at approximately $33,000. Strategic Wealth Investment Group LLC bought a new stake in shares of Houlihan Lokey during the second quarter valued at approximately $39,000. Annis Gardner Whiting Capital Advisors LLC grew its stake in Houlihan Lokey by 103.4% in the first quarter. Annis Gardner Whiting Capital Advisors LLC now owns 236 shares of the financial services provider's stock worth $34,000 after purchasing an additional 120 shares during the period. Finally, CIBC Private Wealth Group LLC grew its stake in Houlihan Lokey by 177.0% in the fourth quarter. CIBC Private Wealth Group LLC now owns 277 shares of the financial services provider's stock worth $48,000 after purchasing an additional 177 shares during the period. Hedge funds and other institutional investors own 78.07% of the company's stock.

Wall Street Analysts Forecast Growth

A number of analysts have recently commented on the stock. Zacks Research cut shares of Houlihan Lokey from a "hold" rating to a "strong sell" rating in a report on Friday, August 21st. Wolfe Research raised shares of Houlihan Lokey from an "underperform" rating to a "peer perform" rating in a research report on Thursday, July 9th. Wall Street Zen lowered shares of Houlihan Lokey from a "hold" rating to a "sell" rating in a research note on Saturday, August 8th. BMO Capital Markets cut their price objective on shares of Houlihan Lokey from $160.00 to $145.00 and set an "outperform" rating on the stock in a report on Monday, August 3rd. Finally, UBS Group decreased their target price on shares of Houlihan Lokey from $161.00 to $147.00 and set a "neutral" rating for the company in a research note on Thursday, July 30th. Five research analysts have rated the stock with a Buy rating, four have given a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of "Hold" and a consensus price target of $166.38.

Houlihan Lokey Price Performance

Shares of NYSE:HLI opened at $136.44 on Friday. Houlihan Lokey, Inc. has a 1-year low of $112.83 and a 1-year high of $211.78. The business has a fifty day moving average price of $133.61 and a 200-day moving average price of $142.70. The company has a market capitalization of $9.42 billion, a PE ratio of 22.93, a PEG ratio of 1.55 and a beta of 0.96.

Houlihan Lokey (NYSE:HLI - Get Free Report) last posted its quarterly earnings results on Wednesday, July 29th. The financial services provider reported $1.35 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.64 by ($0.29). Houlihan Lokey had a return on equity of 20.20% and a net margin of 16.10%.The company had revenue of $511.00 million during the quarter, compared to analysts' expectations of $602.38 million. During the same period in the prior year, the firm earned $2.14 EPS. Houlihan Lokey's revenue for the quarter was down 15.6% compared to the same quarter last year. On average, sell-side analysts anticipate that Houlihan Lokey, Inc. will post 6.93 earnings per share for the current fiscal year.

Houlihan Lokey Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, September 15th. Shareholders of record on Tuesday, September 1st will be issued a $0.70 dividend. The ex-dividend date of this dividend is Tuesday, September 1st. This represents a $2.80 annualized dividend and a yield of 2.1%. Houlihan Lokey's payout ratio is 47.06%.

Insider Transactions at Houlihan Lokey

In other news, General Counsel Christopher M. Crain sold 1,000 shares of the company's stock in a transaction that occurred on Thursday, September 10th. The shares were sold at an average price of $140.15, for a total value of $140,150.00. Following the transaction, the general counsel owned 1,000 shares in the company, valued at approximately $140,150. This represents a 50.00% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this link. Company insiders own 22.53% of the company's stock.

Houlihan Lokey Profile

Houlihan Lokey, Inc is a global investment bank that provides financial advisory services to corporations, financial sponsors, governments and other institutions. Its principal activities include mergers and acquisitions, capital markets advisory, financial restructuring, and valuation and financial opinions.

The company advises clients on acquisitions, divestitures, strategic alternatives, recapitalizations, fairness opinions and other complex financial matters. Its restructuring business supports companies, creditors and other stakeholders dealing with distressed situations, while its valuation and financial advisory practice provides analyses related to financial reporting, tax, litigation and strategic planning.

Founded in 1972, Houlihan Lokey has expanded from its origins in the United States into an international advisory firm serving clients across North America, Europe, the Asia-Pacific region and other global markets.

Want to see what other hedge funds are holding HLI? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Houlihan Lokey, Inc. (NYSE:HLI - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.