Houlihan Lokey, Inc. $HLI Shares Sold by Envestnet Portfolio Solutions Inc.

Envestnet Portfolio Solutions Inc. reduced its stake in Houlihan Lokey, Inc. (NYSE:HLI) by 8.2% during the 2nd quarter, Holdings Channel reports. The fund owned 8,414 shares of the financial services provider’s stock after selling 747 shares during the quarter. Envestnet Portfolio Solutions Inc.’s holdings in Houlihan Lokey were worth $1,514,000 as of its most recent SEC filing.

Several other hedge funds have also modified their holdings of HLI. GAMMA Investing LLC raised its stake in Houlihan Lokey by 145.7% in the first quarter. GAMMA Investing LLC now owns 4,250 shares of the financial services provider’s stock valued at $686,000 after buying an additional 2,520 shares in the last quarter. Wealth Enhancement Advisory Services LLC raised its stake in Houlihan Lokey by 5.9% in the first quarter. Wealth Enhancement Advisory Services LLC now owns 29,103 shares of the financial services provider’s stock valued at $4,700,000 after buying an additional 1,618 shares in the last quarter. Sowell Financial Services LLC acquired a new stake in Houlihan Lokey in the first quarter valued at $313,000. QRG Capital Management Inc. raised its stake in Houlihan Lokey by 9.7% in the first quarter. QRG Capital Management Inc. now owns 4,987 shares of the financial services provider’s stock valued at $805,000 after buying an additional 439 shares in the last quarter. Finally, State of Alaska Department of Revenue raised its stake in Houlihan Lokey by 3.6% in the first quarter. State of Alaska Department of Revenue now owns 6,330 shares of the financial services provider’s stock valued at $1,022,000 after buying an additional 220 shares in the last quarter. 78.07% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, Chairman Irwin Gold sold 6,811 shares of the firm’s stock in a transaction dated Tuesday, September 16th. The stock was sold at an average price of $202.75, for a total transaction of $1,380,930.25. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, Chairman Paul Eric Siegert sold 40,000 shares of the firm’s stock in a transaction dated Wednesday, August 27th. The stock was sold at an average price of $199.95, for a total value of $7,998,000.00. The disclosure for this sale can be found here. Insiders have sold a total of 47,311 shares of company stock valued at $9,477,040 over the last quarter. 22.83% of the stock is currently owned by insiders.

Analyst Ratings Changes

A number of analysts have weighed in on the company. BMO Capital Markets assumed coverage on Houlihan Lokey in a research note on Friday, October 3rd. They issued an “outperform” rating and a $230.00 price target on the stock. Wells Fargo & Company raised their price target on Houlihan Lokey from $185.00 to $209.00 and gave the company an “overweight” rating in a research note on Friday, July 11th. Zacks Research cut Houlihan Lokey from a “strong-buy” rating to a “hold” rating in a research note on Monday, September 29th. Weiss Ratings restated a “buy (b-)” rating on shares of Houlihan Lokey in a research note on Wednesday, October 8th. Finally, Deutsche Bank Aktiengesellschaft began coverage on Houlihan Lokey in a research report on Thursday, October 9th. They set a “hold” rating and a $210.00 target price on the stock. One research analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating and four have assigned a Hold rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $212.43.

Houlihan Lokey Stock Up 1.0%

NYSE HLI opened at $190.36 on Friday. Houlihan Lokey, Inc. has a 52-week low of $137.99 and a 52-week high of $211.78. The business’s 50-day moving average price is $198.26 and its 200 day moving average price is $182.77. The firm has a market cap of $13.38 billion, a P/E ratio of 32.05 and a beta of 0.87.

Houlihan Lokey (NYSE:HLI) last released its quarterly earnings results on Tuesday, July 29th. The financial services provider reported $2.14 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.69 by $0.45. Houlihan Lokey had a return on equity of 23.75% and a net margin of 16.46%.The firm had revenue of $605.35 million for the quarter, compared to analyst estimates of $573.07 million. During the same quarter last year, the company posted $1.22 earnings per share. The business’s revenue was up 17.8% on a year-over-year basis. As a group, analysts anticipate that Houlihan Lokey, Inc. will post 5.98 earnings per share for the current year.

Houlihan Lokey Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, September 15th. Investors of record on Tuesday, September 2nd were issued a dividend of $0.60 per share. The ex-dividend date of this dividend was Tuesday, September 2nd. This represents a $2.40 dividend on an annualized basis and a dividend yield of 1.3%. Houlihan Lokey’s dividend payout ratio (DPR) is currently 40.40%.

About Houlihan Lokey

Houlihan Lokey, Inc, an investment banking company, provides merger and acquisition (M&A), capital market, financial restructuring, and financial and valuation advisory services worldwide. It operates in three segments: Corporate Finance, Financial Restructuring, and Financial and Valuation Advisory.