ORIX Corp USA reduced its position in shares of Houlihan Lokey Inc (NYSE:HLI) by 80.6% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 85,000 shares of the financial services provider’s stock after selling 353,240 shares during the quarter. Houlihan Lokey accounts for approximately 100.0% of ORIX Corp USA’s investment portfolio, making the stock its biggest holding. ORIX Corp USA’s holdings in Houlihan Lokey were worth $4,354,000 at the end of the most recent quarter.
Other hedge funds have also recently bought and sold shares of the company. SG Americas Securities LLC purchased a new stake in shares of Houlihan Lokey during the 1st quarter worth about $109,000. Envestnet Asset Management Inc. boosted its stake in shares of Houlihan Lokey by 1,374.2% during the 4th quarter. Envestnet Asset Management Inc. now owns 2,624 shares of the financial services provider’s stock worth $119,000 after acquiring an additional 2,446 shares in the last quarter. Hartford Investment Management Co. purchased a new stake in shares of Houlihan Lokey during the 2nd quarter worth about $216,000. Amalgamated Bank purchased a new stake in shares of Houlihan Lokey during the 2nd quarter worth about $233,000. Finally, Xact Kapitalforvaltning AB purchased a new stake in shares of Houlihan Lokey during the 2nd quarter worth about $249,000. 46.24% of the stock is currently owned by institutional investors and hedge funds.
Several research firms recently weighed in on HLI. Zacks Investment Research downgraded shares of Houlihan Lokey from a “hold” rating to a “sell” rating in a research report on Tuesday, April 17th. Sandler O’Neill restated a “hold” rating and set a $52.00 price target on shares of Houlihan Lokey in a research report on Thursday, August 2nd. ValuEngine upgraded shares of Houlihan Lokey from a “hold” rating to a “buy” rating in a research report on Wednesday, May 2nd. Bank of America upped their price target on shares of Houlihan Lokey from $50.00 to $55.00 and gave the stock a “neutral” rating in a research report on Tuesday, June 26th. Finally, JMP Securities upped their price target on shares of Houlihan Lokey from $55.00 to $57.00 and gave the stock a “market outperform” rating in a research report on Friday, July 27th. Three equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. The company presently has an average rating of “Buy” and an average price target of $52.13.
Houlihan Lokey opened at $48.21 on Friday, according to Marketbeat. Houlihan Lokey Inc has a twelve month low of $34.41 and a twelve month high of $53.20. The company has a debt-to-equity ratio of 0.01, a current ratio of 0.72 and a quick ratio of 0.72. The stock has a market cap of $3.17 billion, a P/E ratio of 19.56, a P/E/G ratio of 1.15 and a beta of 0.52.
Houlihan Lokey (NYSE:HLI) last released its quarterly earnings results on Thursday, July 26th. The financial services provider reported $0.55 earnings per share for the quarter, missing the consensus estimate of $0.60 by ($0.05). Houlihan Lokey had a return on equity of 19.73% and a net margin of 16.85%. The company had revenue of $220.00 million for the quarter, compared to analyst estimates of $230.85 million. During the same quarter last year, the company earned $0.50 EPS. The firm’s revenue for the quarter was up 1.1% on a year-over-year basis. sell-side analysts expect that Houlihan Lokey Inc will post 2.75 earnings per share for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Saturday, September 15th. Investors of record on Monday, September 3rd will be given a dividend of $0.27 per share. The ex-dividend date of this dividend is Thursday, August 30th. This represents a $1.08 annualized dividend and a dividend yield of 2.24%. Houlihan Lokey’s dividend payout ratio (DPR) is presently 45.19%.
In other Houlihan Lokey news, major shareholder Orix Hlhz Holding Llc sold 49,951 shares of the stock in a transaction dated Wednesday, August 8th. The shares were sold at an average price of $48.30, for a total value of $2,412,633.30. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, General Counsel Christopher M. Crain sold 655 shares of the stock in a transaction dated Monday, June 4th. The shares were sold at an average price of $49.11, for a total transaction of $32,167.05. Following the completion of the sale, the general counsel now owns 655 shares of the company’s stock, valued at approximately $32,167.05. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 3,577,977 shares of company stock valued at $989,754,004,463. Insiders own 80.50% of the company’s stock.
Houlihan Lokey Profile
Houlihan Lokey, Inc, an investment banking company, provides merger and acquisition (M&A), financing, financial restructuring, and financial advisory services worldwide. It operates in three segments: Corporate Finance, Financial Restructuring, and Financial Advisory Services. The Corporate Finance segment offers general financial advisory services; and advises public and private institutions on buy-side and sell-side transactions, leveraged loans, private mezzanine debt, high-yield debt, initial public offerings, follow-ons, convertibles, equity private placements, private equity, and liability management transactions, as well as financial sponsors on various transactions.
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