Algert Global LLC Lowers Position in Houlihan Lokey, Inc. (NYSE:HLI)

Algert Global LLC decreased its holdings in Houlihan Lokey, Inc. (NYSE:HLI - Free Report) by 37.9% during the 4th quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 14,356 shares of the financial services provider's stock after selling 8,773 shares during the quarter. Algert Global LLC's holdings in Houlihan Lokey were worth $2,493,000 at the end of the most recent quarter.

A number of other hedge funds have also added to or reduced their stakes in HLI. Private Trust Co. NA purchased a new position in shares of Houlihan Lokey in the 4th quarter worth about $29,000. Financial Life Planners purchased a new stake in shares of Houlihan Lokey during the 4th quarter worth approximately $33,000. Golden State Wealth Management LLC purchased a new stake in shares of Houlihan Lokey during the 4th quarter worth approximately $53,000. VisionPoint Advisory Group LLC bought a new position in Houlihan Lokey during the fourth quarter valued at $62,000. Finally, Mather Group LLC. increased its position in Houlihan Lokey by 24.8% in the fourth quarter. Mather Group LLC. now owns 584 shares of the financial services provider's stock worth $101,000 after buying an additional 116 shares during the last quarter. Institutional investors and hedge funds own 78.07% of the company's stock.

Analysts Set New Price Targets

HLI has been the subject of several analyst reports. UBS Group raised their target price on Houlihan Lokey from $229.00 to $230.00 and gave the stock a "buy" rating in a research note on Wednesday, January 29th. JPMorgan Chase & Co. lowered their target price on shares of Houlihan Lokey from $172.00 to $169.00 and set a "neutral" rating on the stock in a research note on Wednesday, January 29th. Morgan Stanley reduced their price target on shares of Houlihan Lokey from $190.00 to $156.00 and set an "overweight" rating for the company in a research report on Monday, April 7th. Wells Fargo & Company lifted their price objective on Houlihan Lokey from $170.00 to $185.00 and gave the company an "overweight" rating in a research note on Thursday, May 8th. Finally, Keefe, Bruyette & Woods raised their price target on Houlihan Lokey from $183.00 to $185.00 and gave the company a "market perform" rating in a report on Monday. Four research analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to MarketBeat, the company has a consensus rating of "Hold" and a consensus target price of $185.00.

Houlihan Lokey Stock Performance

HLI traded up $0.99 during midday trading on Tuesday, hitting $178.84. The stock had a trading volume of 79,125 shares, compared to its average volume of 351,686. Houlihan Lokey, Inc. has a 1 year low of $127.14 and a 1 year high of $192.10. The business has a fifty day moving average of $158.87 and a 200 day moving average of $171.57. The company has a market cap of $12.54 billion, a P/E ratio of 34.13 and a beta of 0.82.

Houlihan Lokey (NYSE:HLI - Get Free Report) last announced its quarterly earnings data on Wednesday, May 7th. The financial services provider reported $1.96 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.61 by $0.35. The company had revenue of $666.42 million during the quarter, compared to analysts' expectations of $628.25 million. Houlihan Lokey had a net margin of 16.00% and a return on equity of 20.04%. The firm's revenue was up 28.0% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.27 EPS. On average, equities research analysts anticipate that Houlihan Lokey, Inc. will post 5.98 earnings per share for the current 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 dividend of $0.60 per share. This represents a $2.40 dividend on an annualized basis and a dividend yield of 1.34%. The ex-dividend date of this dividend is Monday, June 2nd. This is a positive change from Houlihan Lokey's previous quarterly dividend of $0.57. Houlihan Lokey's dividend payout ratio is 41.24%.

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.