Wellington Management Group LLP Decreases Holdings in Houlihan Lokey, Inc. $HLI

Key Points

• Wellington Management Group decreased its holdings in Houlihan Lokey, Inc. by 7.0%, selling 104,531 shares and holding approximately 1.99% of the company, valued at $225.3 million as of the end of the latest quarter.
• Houlihan Lokey reported earnings of $2.14 per share for its latest quarter, significantly surpassing estimates and showing a revenue increase of 17.8% compared to the previous year.
• The company announced a quarterly dividend of $0.60, equating to an annual yield of 1.3%, with a payout ratio currently at 40.40%.

Wellington Management Group LLP trimmed its position in shares of Houlihan Lokey, Inc. (NYSE:HLI - Free Report) by 7.0% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 1,395,148 shares of the financial services provider's stock after selling 104,531 shares during the period. Wellington Management Group LLP owned 1.99% of Houlihan Lokey worth $225,316,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also bought and sold shares of HLI. Bogart Wealth LLC grew its holdings in Houlihan Lokey by 111.1% during the first quarter. Bogart Wealth LLC now owns 152 shares of the financial services provider's stock valued at $25,000 after purchasing an additional 80 shares during the period. Motco bought a new position in Houlihan Lokey during the first quarter valued at $29,000. Brooklyn Investment Group bought a new position in shares of Houlihan Lokey in the first quarter worth $33,000. TCTC Holdings LLC boosted its holdings 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 worth $37,000 after acquiring an additional 118 shares during the period. Finally, Caitong International Asset Management Co. Ltd boosted its holdings 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 worth $43,000 after acquiring an additional 260 shares during the period. 78.07% of the stock is owned by institutional investors.

Houlihan Lokey Price Performance

NYSE HLI traded up $5.3320 during trading hours on Friday, reaching $197.3520. 378,572 shares of the stock traded hands, compared to its average volume of 417,663. The stock has a 50 day simple moving average of $188.34 and a two-hundred day simple moving average of $174.19. Houlihan Lokey, Inc. has a 1 year low of $137.99 and a 1 year high of $198.78. The company has a market cap of $13.88 billion, a price-to-earnings ratio of 33.22 and a beta of 0.86.

Houlihan Lokey (NYSE:HLI - Get Free Report) last released its quarterly earnings results on Tuesday, July 29th. The financial services provider reported $2.14 earnings per share for the quarter, beating 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 business had revenue of $605.35 million for the quarter, compared to the consensus estimate of $573.07 million. During the same quarter last year, the business posted $1.22 earnings per share. The company's revenue for the quarter was up 17.8% on a year-over-year basis. On average, sell-side analysts forecast that Houlihan Lokey, Inc. will post 5.98 EPS for the current fiscal year.

Houlihan Lokey Dividend Announcement

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

Insider Activity

In related news, Chairman Irwin Gold sold 5,000 shares of the firm's stock in a transaction dated Monday, June 30th. The stock was sold at an average price of $182.81, for a total value of $914,050.00. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, General Counsel Christopher M. Crain sold 500 shares of Houlihan Lokey stock in a transaction that occurred on Monday, June 2nd. The shares were 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. 22.83% of the stock is currently owned by insiders.

Analyst Ratings Changes

A number of equities analysts have recently commented on the company. Wells Fargo & Company raised 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. Morgan Stanley reaffirmed an "overweight" rating and issued a $192.00 price target (up from $159.00) on shares of Houlihan Lokey in a report on Monday, June 23rd. Keefe, Bruyette & Woods raised Houlihan Lokey from a "hold" rating to a "moderate buy" rating and raised their price target for the stock from $185.00 to $232.00 in a report on Monday, July 14th. Finally, Wall Street Zen lowered 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. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average price target of $206.40.

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.