Westfield Capital Management Co. LP Takes $46.24 Million Position in Houlihan Lokey, Inc. (NYSE:HLI)

Key Points

• Westfield Capital Management Co. LP has acquired a new stake in Houlihan Lokey, Inc., purchasing 286,288 shares valued at approximately $46.2 million, representing about 0.41% of the company's stock.
• Analysts have recently raised their price targets for Houlihan Lokey, with Keefe, Bruyette & Woods upgrading their target from $185.00 to $232.00 and a consensus price target of $206.40 among analysts.
• Houlihan Lokey also announced a quarterly dividend of $0.60 per share, translating to an annualized buy yield of 1.2%, with a dividend payout ratio of 40.40% currently.

Westfield Capital Management Co. LP bought a new position in Houlihan Lokey, Inc. (NYSE:HLI - Free Report) in the first quarter, according to the company in its most recent disclosure with the SEC. The fund bought 286,288 shares of the financial services provider's stock, valued at approximately $46,236,000. Westfield Capital Management Co. LP owned 0.41% of Houlihan Lokey at the end of the most recent quarter.

A number of other large investors have also added to or reduced their stakes in the stock. Bank of Nova Scotia bought a new stake in shares of Houlihan Lokey in the first quarter worth $743,000. R Squared Ltd boosted its position in Houlihan Lokey by 13.9% in the first quarter. R Squared Ltd now owns 1,841 shares of the financial services provider's stock worth $297,000 after purchasing an additional 224 shares during the last quarter. PNC Financial Services Group Inc. grew its stake in shares of Houlihan Lokey by 31.4% during the 1st quarter. PNC Financial Services Group Inc. now owns 16,955 shares of the financial services provider's stock valued at $2,738,000 after purchasing an additional 4,056 shares during the period. Jefferies Financial Group Inc. increased its position in shares of Houlihan Lokey by 520.2% during the 1st quarter. Jefferies Financial Group Inc. now owns 7,908 shares of the financial services provider's stock valued at $1,277,000 after purchasing an additional 6,633 shares during the last quarter. Finally, Alberta Investment Management Corp lifted its stake in shares of Houlihan Lokey by 25.2% in the 1st quarter. Alberta Investment Management Corp now owns 3,911 shares of the financial services provider's stock worth $632,000 after purchasing an additional 788 shares during the period. Institutional investors own 78.07% of the company's stock.

Houlihan Lokey Stock Performance

Shares of NYSE HLI traded down $0.42 during midday trading on Friday, reaching $189.07. The stock had a trading volume of 361,984 shares, compared to its average volume of 406,082. Houlihan Lokey, Inc. has a 12-month low of $137.99 and a 12-month high of $198.78. The stock has a 50-day moving average of $184.38 and a 200-day moving average of $173.44. The company has a market capitalization of $13.20 billion, a price-to-earnings ratio of 31.83 and a beta of 0.86.

Houlihan Lokey (NYSE:HLI - Get Free Report) last issued its quarterly earnings results 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 business had revenue of $605.35 million during the quarter, compared to analyst estimates of $573.07 million. During the same quarter in the prior year, the business posted $1.22 EPS. Houlihan Lokey's revenue for the quarter was up 17.8% compared to the same quarter last year. As a group, 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 given a dividend of $0.60 per share. The ex-dividend date is Tuesday, September 2nd. This represents a $2.40 annualized dividend and a dividend yield of 1.3%. Houlihan Lokey's dividend payout ratio (DPR) is presently 40.40%.

Analyst Upgrades and Downgrades

Several analysts recently issued reports on HLI shares. Keefe, Bruyette & Woods upgraded shares of Houlihan Lokey from a "hold" rating to a "moderate buy" rating and boosted their target price for the company from $185.00 to $232.00 in a research report on Monday, July 14th. Wells Fargo & Company lifted their price target on shares of Houlihan Lokey from $185.00 to $209.00 and gave the stock an "overweight" rating in a research note on Friday, July 11th. Wall Street Zen downgraded shares of Houlihan Lokey from a "buy" rating to a "hold" rating in a research report on Saturday, August 2nd. Finally, Morgan Stanley reaffirmed an "overweight" rating and issued a $192.00 target price (up from $159.00) on shares of Houlihan Lokey in a report on Monday, June 23rd. Three equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company's stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $206.40.

Insider Activity

In other Houlihan Lokey news, Chairman Irwin Gold sold 5,000 shares of Houlihan Lokey stock in a transaction on Monday, June 30th. The shares were sold at an average price of $182.81, for a total value of $914,050.00. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, General Counsel Christopher M. Crain sold 500 shares of the stock in a transaction dated 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. Insiders have sold a total of 13,508 shares of company stock worth $2,431,670 over the last quarter. 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.