Whittier Trust Co. Buys 1,703 Shares of Houlihan Lokey, Inc. $HLI

Key Points

• Whittier Trust Co. increased its ownership in Houlihan Lokey, Inc. by 2.5%, acquiring an additional 1,703 shares and totaling 69,809 shares worth approximately $12.56 million by the end of the second quarter.
• Houlihan Lokey has received mixed ratings from analysts, with a consensus average of Moderate Buy and an average price target of $212.43, despite recent downgrades from some firms.
• The company reported $2.14 EPS in its last earnings release, exceeding expectations of $1.69 EPS, and achieved 17.8% year-over-year revenue growth.

Whittier Trust Co. grew its stake in Houlihan Lokey, Inc. (NYSE:HLI - Free Report) by 2.5% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 69,809 shares of the financial services provider's stock after acquiring an additional 1,703 shares during the quarter. Whittier Trust Co. owned 0.10% of Houlihan Lokey worth $12,562,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently modified their holdings of the stock. Vista Finance LLC increased its stake in shares of Houlihan Lokey by 4.1% in the 2nd quarter. Vista Finance LLC now owns 2,228 shares of the financial services provider's stock valued at $401,000 after acquiring an additional 87 shares during the last quarter. Barlow Wealth Partners Inc. increased its stake in shares of Houlihan Lokey by 0.9% in the 2nd quarter. Barlow Wealth Partners Inc. now owns 205,578 shares of the financial services provider's stock valued at $37,717,000 after acquiring an additional 1,764 shares during the last quarter. Bridges Investment Management Inc. increased its stake in shares of Houlihan Lokey by 8.9% in the 2nd quarter. Bridges Investment Management Inc. now owns 4,487 shares of the financial services provider's stock valued at $807,000 after acquiring an additional 366 shares during the last quarter. New York State Teachers Retirement System increased its stake in shares of Houlihan Lokey by 28.9% in the 2nd quarter. New York State Teachers Retirement System now owns 23,104 shares of the financial services provider's stock valued at $4,158,000 after acquiring an additional 5,178 shares during the last quarter. Finally, Mutual Advisors LLC bought a new stake in shares of Houlihan Lokey in the 2nd quarter valued at about $222,000. 78.07% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

HLI has been the subject of a number of recent analyst reports. Weiss Ratings reaffirmed a "buy (b-)" rating on shares of Houlihan Lokey in a research note on Wednesday, October 8th. Zacks Research cut Houlihan Lokey from a "strong-buy" rating to a "hold" rating in a research note on Monday, September 29th. Morgan Stanley upped their price target on Houlihan Lokey from $192.00 to $213.00 and gave the company an "overweight" rating in a research note on Monday, September 8th. BMO Capital Markets assumed coverage on Houlihan Lokey in a research note on Friday, October 3rd. They set an "outperform" rating and a $230.00 target price for the company. Finally, Keefe, Bruyette & Woods lowered their target price on Houlihan Lokey from $232.00 to $226.00 and set a "moderate buy" rating for the company in a research note on Monday, October 13th. One research analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating and four have given a Hold rating to the company. According to data from MarketBeat, Houlihan Lokey has an average rating of "Moderate Buy" and an average target price of $212.43.

Insider Transactions at Houlihan Lokey

In other news, General Counsel Christopher M. Crain sold 500 shares of the firm's stock in a transaction that occurred on Tuesday, September 2nd. The shares were sold at an average price of $196.22, for a total transaction of $98,110.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Chairman Paul Eric Siegert sold 40,000 shares of the firm's stock in a transaction that occurred on Wednesday, August 27th. The stock was sold at an average price of $199.95, for a total transaction of $7,998,000.00. The disclosure for this sale can be found here. Insiders sold 47,311 shares of company stock valued at $9,477,040 in the last ninety days. 22.83% of the stock is currently owned by corporate insiders.

Houlihan Lokey Stock Performance

NYSE HLI opened at $193.03 on Wednesday. The business has a 50 day simple moving average of $198.30 and a 200 day simple moving average of $183.48. Houlihan Lokey, Inc. has a 52-week low of $137.99 and a 52-week high of $211.78. The stock has a market cap of $13.57 billion, a price-to-earnings ratio of 32.50 and a beta of 0.87.

Houlihan Lokey (NYSE:HLI - Get Free Report) last posted its 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 analysts' expectations of $573.07 million. During the same period in the prior year, the business earned $1.22 EPS. Houlihan Lokey's revenue for the quarter was up 17.8% compared to the same quarter last year. On average, analysts predict that Houlihan Lokey, Inc. will post 5.98 EPS for the current year.

Houlihan Lokey Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, September 15th. Stockholders of record on Tuesday, September 2nd were paid a dividend of $0.60 per share. This represents a $2.40 annualized dividend and a dividend yield of 1.2%. The ex-dividend date of this dividend was Tuesday, September 2nd. Houlihan Lokey's dividend payout ratio (DPR) is currently 40.40%.

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.

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