West Coast Financial LLC Sells 2,382 Shares of Houlihan Lokey, Inc. (NYSE:HLI)

West Coast Financial LLC cut its holdings in shares of Houlihan Lokey, Inc. (NYSE:HLI - Free Report) by 11.7% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 17,930 shares of the financial services provider's stock after selling 2,382 shares during the period. West Coast Financial LLC's holdings in Houlihan Lokey were worth $2,896,000 at the end of the most recent quarter.

Other hedge funds have also added to or reduced their stakes in the company. Private Trust Co. NA acquired a new stake in Houlihan Lokey during the 4th quarter worth approximately $29,000. Golden State Wealth Management LLC acquired a new stake in Houlihan Lokey during the 4th quarter worth approximately $53,000. Thurston Springer Miller Herd & Titak Inc. acquired a new stake in Houlihan Lokey during the 1st quarter worth approximately $54,000. VisionPoint Advisory Group LLC acquired a new stake in Houlihan Lokey during the 4th quarter worth approximately $62,000. Finally, Versant Capital Management Inc lifted its position in shares of Houlihan Lokey by 744.2% in the 1st quarter. Versant Capital Management Inc now owns 363 shares of the financial services provider's stock worth $59,000 after purchasing an additional 320 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 research analysts have recently issued reports on the stock. Morgan Stanley dropped their price target on shares of Houlihan Lokey from $190.00 to $156.00 and set an "overweight" rating on the stock in a research report on Monday, April 7th. Wall Street Zen upgraded shares of Houlihan Lokey from a "hold" rating to a "buy" rating in a research report on Thursday, May 22nd. Keefe, Bruyette & Woods boosted their price target on shares of Houlihan Lokey from $183.00 to $185.00 and gave the stock a "market perform" rating in a research report on Monday, May 12th. Finally, Wells Fargo & Company boosted their price target on shares of Houlihan Lokey from $170.00 to $185.00 and gave the stock an "overweight" rating in a research report on Thursday, May 8th. Three research analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat, Houlihan Lokey currently has an average rating of "Moderate Buy" and a consensus target price of $185.00.

Houlihan Lokey Stock Performance

Shares of NYSE HLI traded up $2.09 during midday trading on Friday, reaching $176.99. The stock had a trading volume of 278,947 shares, compared to its average volume of 351,402. The company's 50 day moving average price is $164.61 and its 200 day moving average price is $171.16. The firm has a market cap of $12.35 billion, a price-to-earnings ratio of 33.78 and a beta of 0.83. Houlihan Lokey, Inc. has a twelve month low of $127.14 and a twelve month high of $192.10.

Houlihan Lokey (NYSE:HLI - Get Free Report) last released its quarterly earnings data on Wednesday, May 7th. The financial services provider reported $1.96 earnings per share for the quarter, beating the consensus estimate of $1.61 by $0.35. The company had revenue of $666.42 million during the quarter, compared to analyst estimates of $628.25 million. Houlihan Lokey had a net margin of 16.00% and a return on equity of 20.04%. Houlihan Lokey's revenue for the quarter was up 28.0% compared to the same quarter last year. During the same quarter in the previous year, the business posted $1.27 EPS. Equities analysts forecast that Houlihan Lokey, Inc. will post 5.98 earnings per share for the current fiscal year.

Houlihan Lokey Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Sunday, June 15th. Stockholders of record on Monday, June 2nd will be paid a $0.60 dividend. The ex-dividend date is Monday, June 2nd. This represents a $2.40 annualized dividend and a dividend yield of 1.36%. This is a positive change from Houlihan Lokey's previous quarterly dividend of $0.57. Houlihan Lokey's payout ratio is currently 41.24%.

Insider Activity

In other Houlihan Lokey news, Chairman Scott L. Beiser sold 8,008 shares of the business's stock in a transaction on Monday, May 19th. The shares were sold at an average price of $178.71, for a total transaction of $1,431,109.68. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, General Counsel Christopher M. Crain sold 500 shares of the business's stock in a transaction on Monday, June 2nd. The shares were sold at an average price of $173.02, for a total transaction of $86,510.00. The disclosure for this sale can be found here. 23.68% of the stock is currently owned by company insiders.

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.