Vestcor Inc Sells 14,621 Shares of Houlihan Lokey, Inc. $HLI

Key Points

• Vestcor cut its stake in Houlihan Lokey by 46.4% in the third quarter, selling 14,621 shares and retaining 16,895 shares valued at $3,469,000.
• Other large institutional moves include Mayflower buying a new stake worth about $230.3M and Norges Bank adding $126.7M, while Champlain and Thrivent significantly increased holdings; institutional investors now own 78.07% of HLI.
• Houlihan Lokey beat quarterly EPS estimates ($1.94 vs. $1.85) with revenue up 13% year-over-year, announced a quarterly dividend of $0.60 (1.6% yield), and carries a consensus analyst rating of Moderate Buy with an average target of $209.17.

Vestcor Inc cut its stake in Houlihan Lokey, Inc. (NYSE:HLI - Free Report) by 46.4% in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 16,895 shares of the financial services provider's stock after selling 14,621 shares during the quarter. Vestcor Inc's holdings in Houlihan Lokey were worth $3,469,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also recently made changes to their positions in HLI. Mayflower Financial Advisors LLC purchased a new stake in shares of Houlihan Lokey during the third quarter valued at about $230,335,000. Norges Bank acquired a new position in shares of Houlihan Lokey in the 2nd quarter valued at $126,723,000. Champlain Investment Partners LLC increased its position in shares of Houlihan Lokey by 194.9% in the second quarter. Champlain Investment Partners LLC now owns 546,340 shares of the financial services provider's stock valued at $98,314,000 after buying an additional 361,085 shares in the last quarter. Thrivent Financial for Lutherans raised its position in shares of Houlihan Lokey by 75.6% during the 3rd quarter. Thrivent Financial for Lutherans now owns 713,494 shares of the financial services provider's stock worth $146,495,000 after purchasing an additional 307,214 shares during the last quarter. Finally, Renaissance Group LLC acquired a new stake in Houlihan Lokey during the 2nd quarter worth $34,115,000. Hedge funds and other institutional investors own 78.07% of the company's stock.

Houlihan Lokey Trading Down 0.7%

Shares of NYSE HLI opened at $145.73 on Wednesday. The stock has a market cap of $10.17 billion, a P/E ratio of 22.39 and a beta of 0.95. Houlihan Lokey, Inc. has a twelve month low of $137.99 and a twelve month high of $211.78. The stock has a 50 day moving average of $172.55 and a two-hundred day moving average of $183.23.

Houlihan Lokey (NYSE:HLI - Get Free Report) last released its quarterly earnings results on Thursday, January 29th. The financial services provider reported $1.94 EPS for the quarter, topping the consensus estimate of $1.85 by $0.09. Houlihan Lokey had a return on equity of 24.46% and a net margin of 16.91%.During the same quarter in the previous year, the firm earned $1.64 earnings per share. Houlihan Lokey's revenue for the quarter was up 13.0% compared to the same quarter last year. As a group, research analysts predict that Houlihan Lokey, Inc. will post 5.98 earnings per share for the current year.

Houlihan Lokey Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Sunday, March 15th. Shareholders of record on Monday, March 2nd will be given a dividend of $0.60 per share. The ex-dividend date is Monday, March 2nd. This represents a $2.40 dividend on an annualized basis and a yield of 1.6%. Houlihan Lokey's payout ratio is presently 36.87%.

Insiders Place Their Bets

In other news, Director Robert A. Schriesheim sold 5,000 shares of the company's stock in a transaction dated Friday, February 6th. The shares were sold at an average price of $170.86, for a total transaction of $854,300.00. Following the completion of the transaction, the director owned 27,982 shares of the company's stock, valued at $4,781,004.52. This represents a 15.16% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, General Counsel Christopher M. Crain sold 500 shares of the business's stock in a transaction dated Friday, January 2nd. The shares were sold at an average price of $174.17, for a total value of $87,085.00. The SEC filing for this sale provides additional information. 22.83% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several equities research analysts recently issued reports on HLI shares. Morgan Stanley cut their price objective on shares of Houlihan Lokey from $216.00 to $215.00 and set an "overweight" rating for the company in a research report on Tuesday, January 6th. UBS Group reissued a "neutral" rating and set a $196.00 price target on shares of Houlihan Lokey in a research report on Friday, January 30th. Keefe, Bruyette & Woods cut their price target on Houlihan Lokey from $218.00 to $214.00 and set an "outperform" rating on the stock in a report on Thursday, January 29th. Weiss Ratings downgraded shares of Houlihan Lokey from a "buy (b-)" rating to a "hold (c+)" rating in a research note on Monday. Finally, BMO Capital Markets lifted their price target on Houlihan Lokey from $209.00 to $211.00 and gave the stock an "outperform" rating in a report on Thursday, January 29th. Four research analysts have rated the stock with a Buy rating and four have given a Hold rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average price target of $209.17.

About Houlihan Lokey

Houlihan Lokey, Inc is a global investment bank and financial services firm founded in 1972 and headquartered in Los Angeles, California. The company specializes in advisory services across a broad range of transaction types and financial matters. Since its founding, Houlihan Lokey has grown to serve corporations, financial sponsors, and government entities worldwide, providing expertise in complex and high-stakes engagements.

The firm's core service offerings include mergers and acquisitions advisory, capital markets advisory, financial restructuring and distressed M&A, and valuation and fairness opinions.

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