TrueMark Investments LLC Acquires New Stake in Houlihan Lokey, Inc. (NYSE:HLI)

TrueMark Investments LLC acquired a new position in shares of Houlihan Lokey, Inc. (NYSE:HLI - Free Report) in the 1st quarter, according to its most recent disclosure with the SEC. The institutional investor acquired 1,584 shares of the financial services provider's stock, valued at approximately $256,000.

Several other institutional investors and hedge funds have also made changes to their positions in the business. Private Trust Co. NA purchased a new stake in Houlihan Lokey in the fourth quarter valued at approximately $29,000. Thurston Springer Miller Herd & Titak Inc. purchased a new stake in Houlihan Lokey in the first quarter valued at approximately $54,000. Versant Capital Management Inc lifted its stake in Houlihan Lokey by 744.2% in the first quarter. Versant Capital Management Inc now owns 363 shares of the financial services provider's stock valued at $59,000 after buying an additional 320 shares during the last quarter. Kapitalo Investimentos Ltda purchased a new stake in Houlihan Lokey in the fourth quarter valued at approximately $105,000. Finally, Brown Brothers Harriman & Co. lifted its stake in Houlihan Lokey by 374.6% in the fourth quarter. Brown Brothers Harriman & Co. now owns 655 shares of the financial services provider's stock valued at $114,000 after buying an additional 517 shares during the last quarter. 78.07% of the stock is owned by institutional investors and hedge funds.

Houlihan Lokey Stock Up 0.7%

HLI stock traded up $1.25 on Wednesday, reaching $181.10. 344,105 shares of the company's stock were exchanged, compared to its average volume of 351,527. The stock has a fifty day moving average of $170.71 and a 200-day moving average of $170.14. Houlihan Lokey, Inc. has a twelve month low of $130.28 and a twelve month high of $192.10. The firm has a market cap of $12.64 billion, a PE ratio of 31.12 and a beta of 0.83.

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 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 analyst estimates of $628.25 million. During the same quarter in the prior year, the company posted $1.27 earnings per share. Houlihan Lokey's quarterly revenue was up 28.0% on a year-over-year basis. On average, equities research analysts predict that Houlihan Lokey, Inc. will post 5.98 EPS for the current fiscal year.

Houlihan Lokey Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Sunday, June 15th. Shareholders of record on Monday, June 2nd were issued a $0.60 dividend. This is a positive change from Houlihan Lokey's previous quarterly dividend of $0.57. The ex-dividend date was Monday, June 2nd. This represents a $2.40 annualized dividend and a yield of 1.33%. Houlihan Lokey's dividend payout ratio is 41.24%.

Analysts Set New Price Targets

Several equities research analysts have recently commented on HLI shares. Keefe, Bruyette & Woods upped their price target on Houlihan Lokey from $183.00 to $185.00 and gave the stock a "market perform" rating in a research note on Monday, May 12th. Wall Street Zen upgraded Houlihan Lokey from a "hold" rating to a "buy" rating in a research note on Thursday, May 22nd. Morgan Stanley upped their price objective on Houlihan Lokey from $159.00 to $192.00 and gave the stock an "overweight" rating in a report on Monday. Finally, Wells Fargo & Company upped their price objective on Houlihan Lokey from $170.00 to $185.00 and gave the stock an "overweight" rating in a report on Thursday, May 8th. Three research analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus price target of $192.20.

Insider Buying and Selling at Houlihan Lokey

In other Houlihan Lokey news, General Counsel Christopher M. Crain sold 500 shares of the company's stock in a transaction 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 document filed with the SEC, which is accessible through the SEC website. Also, Chairman Scott L. Beiser sold 8,008 shares of the company's stock in a transaction on Monday, May 19th. The shares were 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. 23.68% of the stock is owned by corporate insiders.

About Houlihan Lokey

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.