Earnest Partners LLC grew its stake in Houlihan Lokey Inc (NYSE:HLI) by 223.3% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 1,589,115 shares of the financial services provider’s stock after acquiring an additional 1,097,619 shares during the quarter. Earnest Partners LLC owned 2.40% of Houlihan Lokey worth $70,763,000 at the end of the most recent quarter.
A number of other institutional investors also recently added to or reduced their stakes in HLI. Dimensional Fund Advisors LP boosted its holdings in Houlihan Lokey by 3.0% in the fourth quarter. Dimensional Fund Advisors LP now owns 576,789 shares of the financial services provider’s stock worth $21,226,000 after acquiring an additional 16,589 shares in the last quarter. Geode Capital Management LLC boosted its holdings in Houlihan Lokey by 14.2% in the fourth quarter. Geode Capital Management LLC now owns 416,680 shares of the financial services provider’s stock worth $15,332,000 after acquiring an additional 51,733 shares in the last quarter. BNP Paribas Arbitrage SA boosted its holdings in Houlihan Lokey by 661.1% in the first quarter. BNP Paribas Arbitrage SA now owns 7,786 shares of the financial services provider’s stock worth $357,000 after acquiring an additional 6,763 shares in the last quarter. SG Americas Securities LLC bought a new stake in Houlihan Lokey in the first quarter worth $126,000. Finally, Rhumbline Advisers boosted its holdings in Houlihan Lokey by 3.6% in the first quarter. Rhumbline Advisers now owns 44,476 shares of the financial services provider’s stock worth $2,039,000 after acquiring an additional 1,563 shares in the last quarter. 63.94% of the stock is currently owned by institutional investors and hedge funds.
HLI has been the topic of several analyst reports. JMP Securities downgraded Houlihan Lokey from an “outperform” rating to a “market perform” rating and set a $46.65 target price on the stock. in a report on Thursday, May 23rd. Zacks Investment Research raised Houlihan Lokey from a “hold” rating to a “buy” rating and set a $52.00 price target on the stock in a report on Wednesday, July 31st. Buckingham Research lowered their price target on Houlihan Lokey from $53.00 to $51.00 and set a “buy” rating on the stock in a report on Thursday, July 11th. Finally, ValuEngine raised Houlihan Lokey from a “sell” rating to a “hold” rating in a report on Wednesday, September 4th. Two investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. The stock has an average rating of “Buy” and an average target price of $50.09.
Houlihan Lokey (NYSE:HLI) last announced its quarterly earnings results on Thursday, July 25th. The financial services provider reported $0.67 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.56 by $0.11. The firm had revenue of $250.35 million for the quarter, compared to the consensus estimate of $228.98 million. Houlihan Lokey had a return on equity of 22.75% and a net margin of 15.45%. The company’s quarterly revenue was up 13.8% on a year-over-year basis. During the same period in the prior year, the company posted $0.55 earnings per share. On average, sell-side analysts anticipate that Houlihan Lokey Inc will post 2.95 earnings per share for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Monday, September 16th. Stockholders of record on Thursday, September 5th will be issued a dividend of $0.31 per share. This represents a $1.24 dividend on an annualized basis and a dividend yield of 2.65%. The ex-dividend date is Wednesday, September 4th. Houlihan Lokey’s payout ratio is currently 43.21%.
In other news, insider Orix Hlhz Holding Llc sold 3,377,935 shares of the company’s stock in a transaction on Tuesday, July 30th. The stock was sold at an average price of $45.61, for a total transaction of $154,067,615.35. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Corporate insiders own 38.23% of the company’s stock.
Houlihan Lokey Company 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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