Teacher Retirement System of Texas Has $3.30 Million Stock Holdings in Houlihan Lokey, Inc. (NYSE:HLI)

Teacher Retirement System of Texas cut its stake in shares of Houlihan Lokey, Inc. (NYSE:HLI - Free Report) by 64.4% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 20,458 shares of the financial services provider's stock after selling 37,070 shares during the quarter. Teacher Retirement System of Texas' holdings in Houlihan Lokey were worth $3,304,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in the business. GAMMA Investing LLC grew its holdings in Houlihan Lokey by 39,574.9% in the 1st quarter. GAMMA Investing LLC now owns 686,375 shares of the financial services provider's stock worth $1,108,500,000 after buying an additional 684,645 shares in the last quarter. Norges Bank bought a new position in Houlihan Lokey in the 4th quarter worth approximately $114,047,000. Invesco Ltd. grew its holdings in Houlihan Lokey by 122.7% in the 4th quarter. Invesco Ltd. now owns 1,041,201 shares of the financial services provider's stock worth $180,815,000 after buying an additional 573,745 shares in the last quarter. Congress Asset Management Co. bought a new position in Houlihan Lokey in the 1st quarter worth approximately $81,420,000. Finally, Prudential Financial Inc. grew its holdings in Houlihan Lokey by 731.6% in the 4th quarter. Prudential Financial Inc. now owns 347,469 shares of the financial services provider's stock worth $60,341,000 after buying an additional 305,685 shares in the last quarter. 78.07% of the stock is owned by institutional investors.

Insider Buying and Selling at Houlihan Lokey

In other news, General Counsel Christopher M. Crain sold 500 shares of Houlihan Lokey stock in a transaction dated 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 document filed with the SEC, which can be accessed through this hyperlink. Also, Chairman Scott L. Beiser sold 8,008 shares of Houlihan Lokey stock in a transaction dated Monday, May 19th. The stock was sold at an average price of $178.71, for a total value of $1,431,109.68. The disclosure for this sale can be found here. Insiders have sold a total of 13,508 shares of company stock worth $2,431,670 over the last three months. Corporate insiders own 23.68% of the company's stock.

Analyst Upgrades and Downgrades

HLI has been the topic of several research analyst reports. Morgan Stanley reiterated an "overweight" rating and set a $192.00 price target (up from $159.00) on shares of Houlihan Lokey in a research report on Monday, June 23rd. Wells Fargo & Company lifted their price target on Houlihan Lokey from $185.00 to $209.00 and gave the company an "overweight" rating in a research report on Friday. Wall Street Zen cut Houlihan Lokey from a "buy" rating to a "hold" rating in a research report on Friday, June 27th. Finally, 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 report on Monday, May 12th. Four investment analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat, Houlihan Lokey currently has an average rating of "Hold" and a consensus price target of $197.00.

Houlihan Lokey Price Performance

Shares of HLI traded down $1.34 during trading hours on Friday, hitting $189.41. 353,005 shares of the company were exchanged, compared to its average volume of 359,292. The company has a market capitalization of $13.22 billion, a PE ratio of 32.54 and a beta of 0.83. The firm has a fifty day simple moving average of $176.61 and a 200-day simple moving average of $170.74. Houlihan Lokey, Inc. has a one year low of $137.99 and a one year high of $192.44.

Houlihan Lokey (NYSE:HLI - Get Free Report) last issued its earnings results on Wednesday, May 7th. The financial services provider reported $1.96 EPS for the quarter, beating analysts' consensus estimates of $1.61 by $0.35. Houlihan Lokey had a return on equity of 21.61% and a net margin of 16.73%. The firm had revenue of $666.42 million for the quarter, compared to the consensus estimate of $628.25 million. During the same quarter in the previous year, the company posted $1.27 earnings per share. The business's quarterly revenue was up 28.0% compared to the same quarter last year. Sell-side analysts expect 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. Shareholders of record on Monday, June 2nd were issued a dividend of $0.60 per share. This is a positive change from Houlihan Lokey's previous quarterly dividend of $0.57. This represents a $2.40 annualized dividend and a yield of 1.27%. The ex-dividend date was Monday, June 2nd. Houlihan Lokey's dividend payout ratio (DPR) is 41.24%.

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.