Wealth Enhancement Advisory Services LLC Boosts Stake in Houlihan Lokey, Inc. (NYSE:HLI)

Wealth Enhancement Advisory Services LLC grew its stake in Houlihan Lokey, Inc. (NYSE:HLI - Free Report) by 5.9% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 29,103 shares of the financial services provider's stock after buying an additional 1,618 shares during the period. Wealth Enhancement Advisory Services LLC's holdings in Houlihan Lokey were worth $4,700,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also made changes to their positions in the stock. Raymond James Financial Inc. acquired a new stake in Houlihan Lokey during the 4th quarter worth about $143,559,000. GAMMA Investing LLC lifted its holdings in shares of Houlihan Lokey by 39,574.9% during the first quarter. GAMMA Investing LLC now owns 686,375 shares of the financial services provider's stock worth $1,108,500,000 after purchasing an additional 684,645 shares during the period. Norges Bank acquired a new stake in shares of Houlihan Lokey during the fourth quarter worth about $114,047,000. Invesco Ltd. boosted its position in Houlihan Lokey by 122.7% in the fourth quarter. Invesco Ltd. now owns 1,041,201 shares of the financial services provider's stock valued at $180,815,000 after buying an additional 573,745 shares during the last quarter. Finally, Congress Asset Management Co. acquired a new position in Houlihan Lokey in the 1st quarter worth approximately $81,420,000. 78.07% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In related news, Chairman Scott L. Beiser sold 8,008 shares of the firm's stock in a transaction dated Monday, May 19th. The shares were sold at an average price of $178.71, for a total value of $1,431,109.68. The sale was disclosed in a document filed 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 that occurred on Monday, June 2nd. The stock was sold at an average price of $173.02, for a total value of $86,510.00. The disclosure for this sale can be found here. Company insiders own 23.68% of the company's stock.

Houlihan Lokey Stock Performance

Shares of Houlihan Lokey stock traded up $0.00 on Friday, hitting $182.75. The company's stock had a trading volume of 874,232 shares, compared to its average volume of 354,015. The company has a market capitalization of $12.75 billion, a price-to-earnings ratio of 31.40 and a beta of 0.83. Houlihan Lokey, Inc. has a 1 year low of $133.48 and a 1 year high of $192.10. The firm has a fifty day moving average price of $171.90 and a 200-day moving average price of $170.19.

Houlihan Lokey (NYSE:HLI - Get Free Report) last announced its earnings results on Wednesday, May 7th. The financial services provider reported $1.96 earnings per share for the quarter, topping the consensus estimate of $1.61 by $0.35. Houlihan Lokey had a return on equity of 21.61% and a net margin of 16.73%. The business had revenue of $666.42 million during the quarter, compared to the consensus estimate of $628.25 million. During the same period in the prior year, the company posted $1.27 EPS. The business's quarterly revenue was up 28.0% on a year-over-year basis. As a group, analysts forecast that Houlihan Lokey, Inc. will post 5.98 EPS for the current year.

Houlihan Lokey Increases Dividend

The business also recently disclosed 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 represents a $2.40 annualized dividend and a yield of 1.31%. This is an increase from Houlihan Lokey's previous quarterly dividend of $0.57. The ex-dividend date of this dividend was Monday, June 2nd. Houlihan Lokey's dividend payout ratio (DPR) is presently 41.24%.

Wall Street Analyst Weigh In

A number of research firms have recently weighed in on HLI. Morgan Stanley reiterated an "overweight" rating and issued a $192.00 price objective (up previously from $159.00) on shares of Houlihan Lokey in a research note on Monday. Keefe, Bruyette & Woods increased their price target on Houlihan Lokey from $183.00 to $185.00 and gave the stock a "market perform" rating in a research report 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. Finally, Wells Fargo & Company upped their target price on Houlihan Lokey from $170.00 to $185.00 and gave the stock an "overweight" rating in a research note on Thursday, May 8th. Three analysts have rated the stock with a hold rating and four have issued a buy rating to the company's stock. According to MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $192.20.

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.