Bank of New York Mellon Corp raised its position in Houlihan Lokey Inc. (NYSE:HLI) by 5.0% during the second quarter, Holdings Channel reports. The fund owned 58,977 shares of the company’s stock after buying an additional 2,782 shares during the period. Bank of New York Mellon Corp owned approximately 0.09% of Houlihan Lokey worth $1,319,000 as of its most recent SEC filing.
Other institutional investors have also modified their holdings of the company. First Republic Investment Management Inc. acquired a new position in shares of Houlihan Lokey during the first quarter worth approximately $41,781,000. Burgundy Asset Management Ltd. boosted its position in shares of Houlihan Lokey by 1.7% in the first quarter. Burgundy Asset Management Ltd. now owns 1,362,985 shares of the company’s stock worth $33,938,000 after buying an additional 23,385 shares during the last quarter. Franklin Resources Inc. boosted its position in shares of Houlihan Lokey by 1.8% in the first quarter. Franklin Resources Inc. now owns 928,692 shares of the company’s stock worth $23,124,000 after buying an additional 16,699 shares during the last quarter. Geode Capital Management LLC boosted its position in shares of Houlihan Lokey by 8.2% in the first quarter. Geode Capital Management LLC now owns 91,678 shares of the company’s stock worth $2,282,000 after buying an additional 6,929 shares during the last quarter. Finally, Gradient Investments LLC acquired a new position in shares of Houlihan Lokey during the second quarter worth approximately $297,000. 99.02% of the stock is owned by institutional investors and hedge funds.
Houlihan Lokey Inc. (NYSE:HLI) traded up 1.25% during midday trading on Wednesday, hitting $25.14. 33,651 shares of the stock traded hands. Houlihan Lokey Inc. has a 52-week low of $20.90 and a 52-week high of $26.75. The firm has a market cap of $1.68 billion, a PE ratio of 22.07 and a beta of 0.04. The stock has a 50-day moving average of $24.73 and a 200 day moving average of $24.16.
Houlihan Lokey (NYSE:HLI) last posted its earnings results on Tuesday, August 2nd. The company reported $0.35 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.31 by $0.04. Houlihan Lokey had a net margin of 10.18% and a return on equity of 15.44%. The firm earned $181 million during the quarter, compared to analysts’ expectations of $161.70 million. During the same period in the previous year, the business posted $0.28 EPS. The business’s revenue was up 24.0% compared to the same quarter last year. Equities analysts forecast that Houlihan Lokey Inc. will post $1.74 EPS for the current year.
The company also recently announced a quarterly dividend, which was paid on Thursday, September 15th. Investors of record on Friday, September 2nd were paid a $0.17 dividend. This represents a $0.68 annualized dividend and a dividend yield of 2.74%. The ex-dividend date of this dividend was Wednesday, August 31st. Houlihan Lokey’s dividend payout ratio is currently 59.65%.
HLI has been the subject of a number of recent research reports. Zacks Investment Research raised shares of Houlihan Lokey from a “sell” rating to a “hold” rating in a research note on Monday, August 22nd. Sandler O’Neill cut shares of Houlihan Lokey from a “buy” rating to a “hold” rating in a research note on Thursday, August 18th. Finally, Keefe, Bruyette & Woods reissued an “outperform” rating and issued a $28.00 price objective on shares of Houlihan Lokey in a research note on Friday, September 23rd. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and one has issued a buy rating to the company’s stock. The company currently has an average rating of “Hold” and an average target price of $26.67.
Houlihan Lokey Company Profile
Houlihan Lokey, Inc is an independent investment bank that focuses on mergers and acquisitions (M&A), financings, financial restructurings and financial advisory services. The Company, through its offices in the United States, Europe, Asia and Australia, serves a set of clients across the world, including corporations, financial sponsors and government agencies.
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