Wells Fargo & Company MN lifted its position in shares of Houlihan Lokey Inc (NYSE:HLI) by 16.2% during the first quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 686,147 shares of the financial services provider’s stock after purchasing an additional 95,443 shares during the period. Wells Fargo & Company MN’s holdings in Houlihan Lokey were worth $31,461,000 at the end of the most recent reporting period.
Other institutional investors and hedge funds have also recently bought and sold shares of the company. BlackRock Inc. increased its position in Houlihan Lokey by 1.5% in the 4th quarter. BlackRock Inc. now owns 2,398,424 shares of the financial services provider’s stock valued at $88,262,000 after acquiring an additional 34,926 shares during the period. Kayne Anderson Rudnick Investment Management LLC increased its position in Houlihan Lokey by 7.8% in the 4th quarter. Kayne Anderson Rudnick Investment Management LLC now owns 1,853,152 shares of the financial services provider’s stock valued at $68,196,000 after acquiring an additional 133,768 shares during the period. Royce & Associates LP increased its position in Houlihan Lokey by 31.3% in the 4th quarter. Royce & Associates LP now owns 952,680 shares of the financial services provider’s stock valued at $35,059,000 after acquiring an additional 226,952 shares during the period. Dimensional Fund Advisors LP increased its position in Houlihan Lokey by 3.0% in the 4th quarter. Dimensional Fund Advisors LP now owns 576,789 shares of the financial services provider’s stock valued at $21,226,000 after acquiring an additional 16,589 shares during the period. Finally, Thrivent Financial for Lutherans increased its position in Houlihan Lokey by 11.5% in the 4th quarter. Thrivent Financial for Lutherans now owns 427,863 shares of the financial services provider’s stock valued at $15,746,000 after acquiring an additional 44,053 shares during the period. Institutional investors and hedge funds own 58.07% of the company’s stock.
Shares of HLI stock opened at $45.14 on Friday. The stock has a market capitalization of $3.01 billion, a P/E ratio of 15.78, a P/E/G ratio of 1.21 and a beta of 1.06. Houlihan Lokey Inc has a 52-week low of $34.31 and a 52-week high of $53.20. The company has a debt-to-equity ratio of 0.01, a quick ratio of 0.76 and a current ratio of 0.76.
Houlihan Lokey (NYSE:HLI) last released its earnings results on Wednesday, May 8th. The financial services provider reported $0.86 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.69 by $0.17. Houlihan Lokey had a return on equity of 22.31% and a net margin of 14.67%. The company had revenue of $291.40 million for the quarter, compared to analysts’ expectations of $266.26 million. During the same quarter in the previous year, the firm posted $0.65 EPS. The firm’s quarterly revenue was up 19.0% on a year-over-year basis. As a group, equities research analysts forecast that Houlihan Lokey Inc will post 2.99 EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which was paid on Friday, June 14th. Shareholders of record on Monday, June 3rd were given a dividend of $0.31 per share. This is a boost from Houlihan Lokey’s previous quarterly dividend of $0.27. The ex-dividend date of this dividend was Friday, May 31st. This represents a $1.24 annualized dividend and a yield of 2.75%. Houlihan Lokey’s payout ratio is presently 43.21%.
In other Houlihan Lokey news, major shareholder Orix Hlhz Holding Llc sold 3,000,000 shares of the business’s stock in a transaction that occurred on Tuesday, May 28th. The stock was sold at an average price of $45.52, for a total transaction of $136,560,000.00. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Insiders own 80.50% of the company’s stock.
Several brokerages recently issued reports on HLI. Zacks Investment Research upgraded Houlihan Lokey from a “hold” rating to a “buy” rating and set a $53.00 price target on the stock in a research report on Wednesday, May 15th. Goldman Sachs Group upgraded Houlihan Lokey from a “neutral” rating to a “buy” rating and boosted their price target for the company from $44.00 to $52.00 in a research report on Wednesday, April 3rd. Finally, JMP Securities cut Houlihan Lokey from an “outperform” rating to a “market perform” rating and set a $46.65 price target on the stock. in a research report on Thursday, May 23rd. Four analysts have rated the stock with a hold rating and four have issued a buy rating to the company. Houlihan Lokey presently has a consensus rating of “Buy” and a consensus price target of $50.38.
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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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