Eagle Asset Management Inc. Raises Stock Position in Houlihan Lokey, Inc. (NYSE:HLI)

Eagle Asset Management Inc. boosted its position in Houlihan Lokey, Inc. (NYSE:HLI - Free Report) by 23.6% in the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 693,109 shares of the financial services provider's stock after buying an additional 132,516 shares during the period. Eagle Asset Management Inc. owned approximately 1.00% of Houlihan Lokey worth $109,525,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also added to or reduced their stakes in the company. Vanguard Group Inc. lifted its stake in shares of Houlihan Lokey by 0.6% in the first quarter. Vanguard Group Inc. now owns 5,104,143 shares of the financial services provider's stock valued at $654,300,000 after buying an additional 29,843 shares in the last quarter. Earnest Partners LLC raised its holdings in shares of Houlihan Lokey by 1.9% in the 2nd quarter. Earnest Partners LLC now owns 3,273,818 shares of the financial services provider's stock worth $441,507,000 after acquiring an additional 62,314 shares during the last quarter. Kayne Anderson Rudnick Investment Management LLC lifted its position in Houlihan Lokey by 1.3% in the 2nd quarter. Kayne Anderson Rudnick Investment Management LLC now owns 3,087,898 shares of the financial services provider's stock valued at $416,434,000 after acquiring an additional 38,155 shares in the last quarter. Sei Investments Co. boosted its stake in Houlihan Lokey by 6.2% during the 2nd quarter. Sei Investments Co. now owns 776,335 shares of the financial services provider's stock valued at $104,697,000 after purchasing an additional 45,205 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. increased its holdings in Houlihan Lokey by 33.0% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 601,025 shares of the financial services provider's stock worth $94,974,000 after purchasing an additional 149,114 shares in the last quarter. Institutional investors own 78.07% of the company's stock.

Houlihan Lokey Stock Performance

HLI traded down $1.59 during trading on Friday, reaching $187.07. The stock had a trading volume of 161,186 shares, compared to its average volume of 320,747. The business has a 50-day moving average of $169.62 and a 200-day moving average of $151.09. Houlihan Lokey, Inc. has a one year low of $104.86 and a one year high of $191.39. The stock has a market cap of $13.00 billion, a PE ratio of 38.66 and a beta of 0.65.

Houlihan Lokey (NYSE:HLI - Get Free Report) last announced its quarterly earnings data on Wednesday, October 30th. The financial services provider reported $1.46 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.31 by $0.15. Houlihan Lokey had a return on equity of 19.29% and a net margin of 15.77%. The firm had revenue of $574.96 million for the quarter, compared to analysts' expectations of $537.93 million. During the same period last year, the firm earned $1.11 earnings per share. The company's revenue for the quarter was up 23.1% compared to the same quarter last year. Equities research analysts forecast that Houlihan Lokey, Inc. will post 5.79 EPS for the current fiscal year.

Houlihan Lokey Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Sunday, December 15th. Stockholders of record on Monday, December 2nd will be given a $0.57 dividend. The ex-dividend date of this dividend is Monday, December 2nd. This represents a $2.28 annualized dividend and a dividend yield of 1.22%. Houlihan Lokey's dividend payout ratio is 46.63%.

Analyst Ratings Changes

Several research analysts recently issued reports on the company. Morgan Stanley lifted their target price on Houlihan Lokey from $146.00 to $163.00 and gave the company an "equal weight" rating in a research report on Monday, September 23rd. JPMorgan Chase & Co. dropped their price target on shares of Houlihan Lokey from $132.00 to $129.00 and set a "neutral" rating on the stock in a research report on Wednesday, July 31st. StockNews.com cut shares of Houlihan Lokey from a "buy" rating to a "hold" rating in a report on Wednesday. Keefe, Bruyette & Woods reiterated a "market perform" rating and issued a $154.00 price objective (up previously from $139.00) on shares of Houlihan Lokey in a research note on Wednesday, July 31st. Finally, Wells Fargo & Company assumed coverage on Houlihan Lokey in a research note on Thursday, September 12th. They issued an "underweight" rating and a $149.00 target price on the stock. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating and one has issued a buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of "Hold" and a consensus price target of $157.00.

Insider Activity

In other news, General Counsel Christopher M. Crain sold 1,000 shares of the stock in a transaction on Tuesday, September 3rd. The stock was sold at an average price of $155.29, for a total value of $155,290.00. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Gillian Beth Zucker sold 200 shares of the firm's stock in a transaction that occurred on Monday, October 14th. The shares were sold at an average price of $168.08, for a total transaction of $33,616.00. Following the sale, the director now directly owns 6,601 shares of the company's stock, valued at $1,109,496.08. This trade represents a 2.94 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 1,400 shares of company stock valued at $219,362. Corporate insiders own 23.68% of the company's stock.

Houlihan Lokey Profile

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.