Bamco Inc. NY lessened its holdings in shares of Houlihan Lokey, Inc. (NYSE:HLI – Free Report) by 0.6% in the fourth quarter, Holdings Channel.com reports. The fund owned 1,123,951 shares of the financial services provider’s stock after selling 6,239 shares during the period. Bamco Inc. NY’s holdings in Houlihan Lokey were worth $195,781,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors also recently made changes to their positions in HLI. Royal Bank of Canada raised its holdings in shares of Houlihan Lokey by 14.4% during the first quarter. Royal Bank of Canada now owns 49,584 shares of the financial services provider’s stock valued at $8,008,000 after acquiring an additional 6,253 shares in the last quarter. AQR Capital Management LLC raised its holdings in shares of Houlihan Lokey by 50.0% during the first quarter. AQR Capital Management LLC now owns 29,654 shares of the financial services provider’s stock valued at $4,598,000 after acquiring an additional 9,891 shares in the last quarter. Millennium Management LLC bought a new position in shares of Houlihan Lokey during the first quarter valued at approximately $18,964,000. Goldman Sachs Group Inc. raised its holdings in shares of Houlihan Lokey by 5.7% during the first quarter. Goldman Sachs Group Inc. now owns 415,743 shares of the financial services provider’s stock valued at $67,143,000 after acquiring an additional 22,553 shares in the last quarter. Finally, Arrowstreet Capital Limited Partnership bought a new position in shares of Houlihan Lokey during the second quarter valued at approximately $1,033,000. Institutional investors own 78.07% of the company’s stock.
Insider Transactions at Houlihan Lokey
In other Houlihan Lokey news, General Counsel Christopher M. Crain sold 500 shares of the stock in a transaction dated Wednesday, April 1st. The stock was sold at an average price of $143.40, for a total value of $71,700.00. Following the transaction, the general counsel owned 500 shares of the company’s stock, valued at approximately $71,700. This represents a 50.00% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Chairman Scott L. Beiser sold 6,265 shares of the stock in a transaction dated Thursday, May 21st. The shares were sold at an average price of $150.26, for a total value of $941,378.90. Following the completion of the transaction, the chairman directly owned 6,265 shares in the company, valued at approximately $941,378.90. This represents a 50.00% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. 22.83% of the stock is currently owned by corporate insiders.
Houlihan Lokey Price Performance
Houlihan Lokey (NYSE:HLI – Get Free Report) last released its quarterly earnings data on Wednesday, May 6th. The financial services provider reported $1.63 EPS 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 analysts’ expectations of $679.22 million. During the same period last year, the business earned $1.96 earnings per share. The company’s quarterly revenue was down 4.6% on a year-over-year basis. As a group, sell-side analysts expect that Houlihan Lokey, Inc. will post 8.54 EPS for the current fiscal year.
Houlihan Lokey Increases Dividend
The company also recently announced a quarterly dividend, which was paid on Monday, June 15th. Shareholders of record on Monday, June 1st were issued a $0.70 dividend. This is a positive change from Houlihan Lokey’s previous quarterly dividend of $0.60. This represents a $2.80 dividend on an annualized basis and a yield of 2.0%. The ex-dividend date of this dividend was Monday, June 1st. Houlihan Lokey’s dividend payout ratio is currently 45.02%.
Wall Street Analysts Forecast Growth
Several equities research analysts recently weighed in on HLI shares. UBS Group set a $160.00 price target on Houlihan Lokey in a research note on Thursday, May 7th. Weiss Ratings cut Houlihan Lokey from a “hold (c+)” rating to a “hold (c)” rating in a research note on Tuesday, April 21st. Morgan Stanley reduced their price target on Houlihan Lokey from $205.00 to $193.00 and set an “overweight” rating on the stock in a research note on Thursday, April 9th. The Goldman Sachs Group reduced their price target on Houlihan Lokey from $210.00 to $184.00 and set a “buy” rating on the stock in a research note on Wednesday, April 1st. Finally, Keefe, Bruyette & Woods reduced their price target on Houlihan Lokey from $177.00 to $172.00 and set an “outperform” rating on the stock in a research note on Thursday, May 7th. Five analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $191.29.
View Our Latest Stock Report on HLI
Houlihan Lokey Company Profile
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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