Wealth Enhancement Advisory Services LLC lowered its stake in Houlihan Lokey, Inc. (NYSE:HLI - Free Report) by 4.9% during the second quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 27,674 shares of the financial services provider's stock after selling 1,429 shares during the quarter. Wealth Enhancement Advisory Services LLC's holdings in Houlihan Lokey were worth $5,134,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors have also modified their holdings of the company. Bogart Wealth LLC increased its position in shares of Houlihan Lokey by 111.1% in the first quarter. Bogart Wealth LLC now owns 152 shares of the financial services provider's stock valued at $25,000 after acquiring an additional 80 shares during the last quarter. Motco acquired a new stake in shares of Houlihan Lokey in the first quarter valued at about $29,000. Brooklyn Investment Group acquired a new stake in shares of Houlihan Lokey in the first quarter valued at about $33,000. TCTC Holdings LLC increased its position in shares of Houlihan Lokey by 103.5% in the first quarter. TCTC Holdings LLC now owns 232 shares of the financial services provider's stock valued at $37,000 after acquiring an additional 118 shares during the last quarter. Finally, Caitong International Asset Management Co. Ltd increased its position in shares of 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 valued at $43,000 after acquiring an additional 260 shares during the last quarter. Institutional investors and hedge funds own 78.07% of the company's stock.
Houlihan Lokey Stock Down 1.6%
Shares of NYSE:HLI opened at $205.94 on Thursday. Houlihan Lokey, Inc. has a 12-month low of $137.99 and a 12-month high of $211.78. The stock has a market cap of $14.48 billion, a PE ratio of 34.67 and a beta of 0.86. The business has a 50 day moving average of $197.09 and a 200-day moving average of $178.60.
Houlihan Lokey (NYSE:HLI - Get Free Report) last issued its quarterly earnings data on Tuesday, July 29th. The financial services provider reported $2.14 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.69 by $0.45. Houlihan Lokey had a return on equity of 23.75% and a net margin of 16.46%.The company had revenue of $605.35 million during the quarter, compared to analysts' expectations of $573.07 million. During the same quarter in the previous year, the company posted $1.22 earnings per share. The business's revenue was up 17.8% on a year-over-year basis. Equities research analysts expect that Houlihan Lokey, Inc. will post 5.98 earnings per share for the current year.
Houlihan Lokey Announces Dividend
The company also recently disclosed a quarterly dividend, which was paid on Monday, September 15th. Stockholders of record on Tuesday, September 2nd were issued a dividend of $0.60 per share. This represents a $2.40 dividend on an annualized basis and a dividend yield of 1.2%. The ex-dividend date was Tuesday, September 2nd. Houlihan Lokey's payout ratio is currently 40.40%.
Insider Transactions at Houlihan Lokey
In other news, Chairman Irwin Gold sold 6,811 shares of Houlihan Lokey stock in a transaction that occurred on Tuesday, September 16th. The shares were sold at an average price of $202.75, for a total value of $1,380,930.25. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Chairman Paul Eric Siegert sold 40,000 shares of Houlihan Lokey stock in a transaction that occurred on Wednesday, August 27th. The shares were sold at an average price of $199.95, for a total transaction of $7,998,000.00. The disclosure for this sale can be found here. Insiders sold a total of 52,311 shares of company stock worth $10,391,090 over the last quarter. Company insiders own 22.83% of the company's stock.
Wall Street Analysts Forecast Growth
A number of equities analysts recently commented on the company. Keefe, Bruyette & Woods upgraded Houlihan Lokey from a "hold" rating to a "moderate buy" rating and lifted their price target for the stock from $185.00 to $232.00 in a report on Monday, July 14th. Wall Street Zen cut Houlihan Lokey from a "buy" rating to a "hold" rating in a report on Saturday, August 2nd. Morgan Stanley lifted their price target on Houlihan Lokey from $192.00 to $213.00 and gave the stock an "overweight" rating in a report on Monday, September 8th. Finally, Wells Fargo & Company lifted their price target on Houlihan Lokey from $185.00 to $209.00 and gave the stock an "overweight" rating in a report on Friday, July 11th. Three equities research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average target price of $210.60.
View Our Latest Stock Report on HLI
About Houlihan Lokey
(
Free Report)
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.
See Also
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).

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