Voleon Capital Management LP Makes New Investment in Houlihan Lokey, Inc. $HLI

Key Points

• Voleon Capital Management LP has invested approximately $1.41 million in Houlihan Lokey, acquiring 8,716 shares of the company stock during the first quarter.
• This investment trend is reflected by other institutional investors, with 78.07% of the company's stock now held by such entities.
• Houlihan Lokey recently declared a quarterly dividend of $0.60 per share, representing an annualized dividend yield of 1.2%.

Voleon Capital Management LP bought a new stake in Houlihan Lokey, Inc. (NYSE:HLI - Free Report) in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm bought 8,716 shares of the financial services provider's stock, valued at approximately $1,408,000.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Bogart Wealth LLC increased its position in Houlihan Lokey by 111.1% in the first quarter. Bogart Wealth LLC now owns 152 shares of the financial services provider's stock worth $25,000 after purchasing an additional 80 shares during the period. Motco acquired a new stake in Houlihan Lokey in the first quarter worth about $29,000. Brooklyn Investment Group acquired a new stake in Houlihan Lokey in the first quarter worth about $33,000. TCTC Holdings LLC increased its position in Houlihan Lokey by 103.5% in the first 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. Finally, Caitong International Asset Management Co. Ltd increased its position in Houlihan Lokey by 3,714.3% in the first quarter. Caitong International Asset Management Co. Ltd now owns 267 shares of the financial services provider's stock worth $43,000 after purchasing an additional 260 shares during the period. 78.07% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of brokerages recently commented on HLI. Keefe, Bruyette & Woods upgraded Houlihan Lokey from a "hold" rating to a "moderate buy" rating and lifted their price objective for the stock from $185.00 to $232.00 in a research report on Monday, July 14th. Morgan Stanley raised their target price on Houlihan Lokey from $192.00 to $213.00 and gave the stock an "overweight" rating in a report on Monday, September 8th. Wells Fargo & Company raised their target price on Houlihan Lokey from $185.00 to $209.00 and gave the stock an "overweight" rating in a report on Friday, July 11th. Finally, Wall Street Zen cut Houlihan Lokey from a "buy" rating to a "hold" rating in a report on Saturday, August 2nd. Three analysts have rated the stock with a Buy rating and two have issued a Hold rating to the stock. According to MarketBeat, the company has an average rating of "Moderate Buy" and an average price target of $210.60.

Houlihan Lokey Trading Down 1.4%

Shares of NYSE:HLI traded down $2.91 during trading on Friday, hitting $205.24. 342,286 shares of the company's stock traded hands, compared to its average volume of 388,850. Houlihan Lokey, Inc. has a 52 week low of $137.99 and a 52 week high of $208.50. The company has a market cap of $14.43 billion, a price-to-earnings ratio of 34.55 and a beta of 0.86. The company has a 50-day moving average price of $194.45 and a 200-day moving average price of $176.33.

Houlihan Lokey (NYSE:HLI - Get Free Report) last released its quarterly earnings data on Tuesday, July 29th. The financial services provider reported $2.14 earnings per share for the quarter, beating the consensus estimate of $1.69 by $0.45. Houlihan Lokey had a return on equity of 23.75% and a net margin of 16.46%.The business had revenue of $605.35 million for the quarter, compared to analysts' expectations of $573.07 million. During the same quarter in the previous year, the business posted $1.22 EPS. Houlihan Lokey's revenue for the quarter was up 17.8% on a year-over-year basis. On average, analysts predict that Houlihan Lokey, Inc. will post 5.98 earnings per share for the current fiscal year.

Houlihan Lokey Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, September 15th. Shareholders of record on Tuesday, September 2nd will be paid a $0.60 dividend. The ex-dividend date is Tuesday, September 2nd. This represents a $2.40 annualized dividend and a yield of 1.2%. Houlihan Lokey's payout ratio is presently 40.40%.

Insider Buying and Selling at Houlihan Lokey

In other Houlihan Lokey news, Chairman Paul Eric Siegert sold 40,000 shares of the business's stock in a transaction that occurred 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 legal filing with the SEC, which is available at this hyperlink. Also, Chairman Irwin Gold sold 5,000 shares of the business's stock in a transaction that occurred on Monday, June 30th. The shares were sold at an average price of $182.81, for a total value of $914,050.00. The disclosure for this sale can be found here. In the last quarter, insiders have sold 45,500 shares of company stock worth $9,010,160. Corporate insiders own 22.83% of the company's stock.

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.