Westfield Capital Management Co. LP Buys New Shares 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 shares of Houlihan Lokey, Inc. (NYSE:HLI - Free Report) in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm bought 286,288 shares of the financial services provider's stock, valued at approximately $46,236,000. Westfield Capital Management Co. LP owned about 0.41% of Houlihan Lokey as of its most recent SEC filing.

Other large investors have also bought and sold shares of the company. Bogart Wealth LLC raised its position in Houlihan Lokey by 111.1% during the 1st quarter. Bogart Wealth LLC now owns 152 shares of the financial services provider's stock worth $25,000 after purchasing an additional 80 shares during the last quarter. Motco bought a new position in shares of Houlihan Lokey in the 1st quarter worth about $29,000. TCTC Holdings LLC raised its position in shares of Houlihan Lokey by 103.5% in the 1st quarter. TCTC Holdings LLC now owns 232 shares of the financial services provider's stock worth $37,000 after acquiring an additional 118 shares in the last quarter. Thurston Springer Miller Herd & Titak Inc. bought a new position in shares of Houlihan Lokey in the 1st quarter worth about $54,000. Finally, Versant Capital Management Inc raised 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 acquiring an additional 320 shares in the last quarter. 78.07% of the stock is owned by institutional investors.

Insider Transactions at Houlihan Lokey

In other news, Chairman Scott L. Beiser sold 8,008 shares of the business's stock in a transaction that occurred on Monday, May 19th. The stock was sold at an average price of $178.71, for a total value of $1,431,109.68. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. 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. Insiders have sold 13,508 shares of company stock worth $2,431,670 in the last 90 days. Insiders own 22.83% of the company's stock.

Houlihan Lokey Stock Performance

HLI traded down $0.42 during midday trading on Friday, reaching $189.07. 361,984 shares of the company were exchanged, compared to its average volume of 413,469. The company's fifty day moving average price is $184.67 and its 200 day moving average price is $173.47. The company has a market cap of $13.20 billion, a price-to-earnings ratio of 31.83 and a beta of 0.86. Houlihan Lokey, Inc. has a one year low of $137.99 and a one year high of $198.78.

Houlihan Lokey (NYSE:HLI - Get Free Report) last issued its quarterly earnings data on Tuesday, July 29th. The financial services provider reported $2.14 EPS for the quarter, topping analysts' consensus estimates of $1.69 by $0.45. The firm had revenue of $605.35 million during the quarter, compared to analyst estimates of $573.07 million. Houlihan Lokey had a return on equity of 23.75% and a net margin of 16.46%. The company's revenue for the quarter was up 17.8% on a year-over-year basis. During the same period in the previous year, the company posted $1.22 EPS. As a group, sell-side analysts anticipate that Houlihan Lokey, Inc. will post 5.98 earnings per share for the current fiscal year.

Houlihan Lokey Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, September 15th. Stockholders of record on Tuesday, September 2nd will be paid a $0.60 dividend. This represents a $2.40 dividend on an annualized basis and a dividend yield of 1.3%. The ex-dividend date is Tuesday, September 2nd. Houlihan Lokey's payout ratio is presently 40.40%.

Wall Street Analyst Weigh In

HLI has been the subject of several research analyst reports. Wall Street Zen lowered Houlihan Lokey from a "buy" rating to a "hold" rating in a research report on Saturday, August 2nd. Keefe, Bruyette & Woods raised Houlihan Lokey from a "hold" rating to a "moderate buy" rating and lifted their price objective for the stock from $185.00 to $232.00 in a research report on Monday, July 14th. Wells Fargo & Company lifted their price objective on Houlihan Lokey from $185.00 to $209.00 and gave the stock an "overweight" rating in a research report on Friday, July 11th. 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 research report on Monday, June 23rd. Three research analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to data from MarketBeat, Houlihan Lokey presently has a consensus rating of "Moderate Buy" and an average target price of $206.40.

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.