XTX Topco Ltd Purchases New Shares in Houlihan Lokey, Inc. (NYSE:HLI)

Key Points

• XTX Topco Ltd has acquired 12,608 shares of Houlihan Lokey, Inc., totaling approximately $2.036 million, marking a strategic investment in the financial services provider.
• Houlihan Lokey reported a strong quarterly earnings result, with an EPS of $2.14 that exceeded estimates, contributing to a 17.8% revenue increase year-over-year.
• The firm also declared a quarterly dividend of $0.60, translating to an annual dividend yield of 1.25%, with payout ratio at 41.24%.

XTX Topco Ltd acquired a new position in Houlihan Lokey, Inc. (NYSE:HLI - Free Report) in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor acquired 12,608 shares of the financial services provider's stock, valued at approximately $2,036,000.

Several other institutional investors and hedge funds have also bought and sold shares of HLI. GAMMA Investing LLC raised its position in Houlihan Lokey by 39,574.9% during the first quarter. GAMMA Investing LLC now owns 686,375 shares of the financial services provider's stock valued at $1,108,500,000 after purchasing an additional 684,645 shares in the last quarter. Norges Bank purchased a new stake in shares of Houlihan Lokey in the 4th quarter worth $114,047,000. Invesco Ltd. boosted its holdings in shares of Houlihan Lokey by 122.7% during the 4th quarter. Invesco Ltd. now owns 1,041,201 shares of the financial services provider's stock valued at $180,815,000 after purchasing an additional 573,745 shares during the last quarter. Congress Asset Management Co. bought a new position in shares of Houlihan Lokey in the 1st quarter valued at about $81,420,000. Finally, Handelsbanken Fonder AB raised its stake in shares of Houlihan Lokey by 1,946.8% during the first quarter. Handelsbanken Fonder AB now owns 275,458 shares of the financial services provider's stock valued at $44,486,000 after acquiring an additional 262,000 shares in the last quarter. 78.07% of the stock is owned by institutional investors.

Houlihan Lokey Stock Down 0.5%

Houlihan Lokey stock traded down $0.92 during mid-day trading on Friday, reaching $189.74. The company had a trading volume of 356,403 shares, compared to its average volume of 412,984. The company has a 50 day moving average of $183.03 and a 200-day moving average of $173.10. The firm has a market cap of $13.24 billion, a price-to-earnings ratio of 31.94 and a beta of 0.86. Houlihan Lokey, Inc. has a 52 week low of $137.99 and a 52 week 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 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.69 by $0.45. Houlihan Lokey had a net margin of 16.46% and a return on equity of 23.75%. The firm had revenue of $605.35 million during the quarter, compared to analysts' expectations of $573.07 million. During the same quarter in the previous year, the company earned $1.22 earnings per share. The business's revenue for the quarter was up 17.8% on a year-over-year basis. On average, analysts predict that Houlihan Lokey, Inc. will post 5.98 earnings per share for the current fiscal year.

Houlihan Lokey Announces Dividend

The company 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 is 40.40%.

Analyst Upgrades and Downgrades

HLI has been the topic of several analyst reports. Wall Street Zen lowered shares of Houlihan Lokey from a "buy" rating to a "hold" rating in a report on Saturday. Wells Fargo & Company lifted their target price on shares of Houlihan Lokey from $185.00 to $209.00 and gave the company an "overweight" rating in a report on Friday, July 11th. Morgan Stanley restated an "overweight" rating and issued a $192.00 price target (up from $159.00) on shares of Houlihan Lokey in a research note on Monday, June 23rd. Finally, Keefe, Bruyette & Woods raised shares of Houlihan Lokey from a "hold" rating to a "moderate buy" rating and increased their price target for the stock from $185.00 to $232.00 in a report on Monday, July 14th. Three analysts have rated the stock with a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $206.40.

Insider Transactions at Houlihan Lokey

In other news, Chairman Irwin Gold sold 5,000 shares of the company's 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, General Counsel Christopher M. Crain sold 500 shares of the company's 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 sold a total of 13,508 shares of company stock worth $2,431,670 over the last three months. 23.68% of the stock is owned by company insiders.

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.