Jennison Associates LLC lessened its holdings in shares of Houlihan Lokey, Inc. (NYSE:HLI – Free Report) by 20.3% in the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 468,557 shares of the financial services provider’s stock after selling 119,210 shares during the period. Jennison Associates LLC’s holdings in Houlihan Lokey were worth $67,294,000 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. Royal Bank of Canada lifted its holdings in Houlihan Lokey by 362.1% in the fourth quarter. Royal Bank of Canada now owns 1,703,369 shares of the financial services provider’s stock worth $296,706,000 after acquiring an additional 1,334,769 shares during the last quarter. Bank of Montreal Can grew its holdings in shares of Houlihan Lokey by 2,723.2% during the fourth quarter. Bank of Montreal Can now owns 1,199,459 shares of the financial services provider’s stock valued at $208,934,000 after purchasing an additional 1,156,973 shares during the last quarter. Norges Bank acquired a new stake in shares of Houlihan Lokey during the 4th quarter worth approximately $115,478,000. Vaughan Nelson Investment Management L.P. bought a new stake in shares of Houlihan Lokey in the 1st quarter worth approximately $35,728,000. Finally, Qube Research & Technologies Ltd lifted its holdings in shares of Houlihan Lokey by 153.8% in the 2nd quarter. Qube Research & Technologies Ltd now owns 274,387 shares of the financial services provider’s stock worth $49,376,000 after purchasing an additional 166,285 shares during the last quarter. Institutional investors and hedge funds own 78.07% of the company’s stock.
Analyst Ratings Changes
HLI has been the subject of a number of analyst reports. Keefe, Bruyette & Woods reduced their price objective on Houlihan Lokey from $172.00 to $160.00 and set an “outperform” rating for the company in a research report on Friday, July 10th. The Goldman Sachs Group set a $164.00 target price on Houlihan Lokey in a research note on Friday, July 10th. Weiss Ratings downgraded shares of Houlihan Lokey from a “hold (c+)” rating to a “hold (c)” rating in a report on Tuesday, April 21st. UBS Group boosted their price target on shares of Houlihan Lokey from $160.00 to $161.00 and gave the company a “neutral” rating in a report on Wednesday, July 8th. Finally, Morgan Stanley dropped their price objective on shares of Houlihan Lokey from $193.00 to $187.00 and set an “overweight” rating on the stock in a report on Thursday, July 9th. Five research analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $180.50.
Houlihan Lokey Price Performance
Shares of HLI stock opened at $140.13 on Monday. Houlihan Lokey, Inc. has a 12-month low of $130.72 and a 12-month high of $211.78. The firm has a market capitalization of $9.68 billion, a price-to-earnings ratio of 22.53, a price-to-earnings-growth ratio of 1.19 and a beta of 0.95. The business has a 50 day simple moving average of $141.92 and a 200 day simple moving average of $154.88.
Houlihan Lokey (NYSE:HLI – Get Free Report) last announced its earnings results on Wednesday, May 6th. The financial services provider reported $1.63 earnings per share for the quarter, missing the consensus estimate of $1.79 by ($0.16). Houlihan Lokey had a net margin of 16.26% and a return on equity of 22.88%. The business had revenue of $635.64 million for the quarter, compared to the consensus estimate of $679.22 million. During the same period in the previous year, the firm earned $1.96 EPS. The firm’s revenue was down 4.6% on a year-over-year basis. On average, equities analysts anticipate that Houlihan Lokey, Inc. will post 7.91 EPS for the current fiscal year.
Houlihan Lokey Increases Dividend
The firm also recently declared a quarterly dividend, which was paid on Monday, June 15th. Stockholders of record on Monday, June 1st were issued a dividend of $0.70 per share. This represents a $2.80 dividend on an annualized basis and a dividend yield of 2.0%. This is a positive change from Houlihan Lokey’s previous quarterly dividend of $0.60. The ex-dividend date of this dividend was Monday, June 1st. Houlihan Lokey’s dividend payout ratio is 45.02%.
Insider Buying and Selling at Houlihan Lokey
In related news, Chairman Scott L. Beiser sold 6,265 shares of Houlihan Lokey stock in a transaction dated Thursday, May 21st. The shares were sold at an average price of $150.26, for a total transaction of $941,378.90. Following the sale, the chairman directly owned 6,265 shares in the company, valued at $941,378.90. The trade was a 50.00% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 22.83% of the stock is currently owned by corporate insiders.
About Houlihan Lokey
Houlihan Lokey, Inc is a global investment bank and financial services firm founded in 1972 and headquartered in Los Angeles, California. The company specializes in advisory services across a broad range of transaction types and financial matters. Since its founding, Houlihan Lokey has grown to serve corporations, financial sponsors, and government entities worldwide, providing expertise in complex and high-stakes engagements.
The firm’s core service offerings include mergers and acquisitions advisory, capital markets advisory, financial restructuring and distressed M&A, and valuation and fairness opinions.
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