Edgestream Partners L.P. Cuts Stake in Houlihan Lokey, Inc. (NYSE:HLI)

Edgestream Partners L.P. lessened its stake in shares of Houlihan Lokey, Inc. (NYSE:HLI - Free Report) by 84.9% in the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 8,761 shares of the financial services provider's stock after selling 49,311 shares during the period. Edgestream Partners L.P.'s holdings in Houlihan Lokey were worth $1,384,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors have also modified their holdings of the company. SG Americas Securities LLC acquired a new stake in shares of Houlihan Lokey in the 2nd quarter worth $1,844,000. Bridges Investment Management Inc. bought a new stake in Houlihan Lokey in the 2nd quarter valued at $619,000. XTX Topco Ltd bought a new stake in shares of Houlihan Lokey during the second quarter worth approximately $687,000. Natixis Advisors LLC boosted its holdings in Houlihan Lokey by 2.5% during the third quarter. Natixis Advisors LLC now owns 399,388 shares of the financial services provider's stock worth $63,111,000 after purchasing an additional 9,768 shares during the last quarter. Finally, &PARTNERS acquired a new stake in Houlihan Lokey during the second quarter worth about $454,000. 78.07% of the stock is owned by hedge funds and other institutional investors.

Houlihan Lokey Price Performance

Houlihan Lokey stock traded down $0.35 during midday trading on Wednesday, reaching $185.22. The company's stock had a trading volume of 215,085 shares, compared to its average volume of 319,576. The stock has a market capitalization of $12.87 billion, a P/E ratio of 37.74 and a beta of 0.67. Houlihan Lokey, Inc. has a 52-week low of $112.17 and a 52-week high of $192.10. The stock's 50-day simple moving average is $174.41 and its 200-day simple moving average is $154.33.

Houlihan Lokey (NYSE:HLI - Get Free Report) last issued its quarterly earnings results on Wednesday, October 30th. The financial services provider reported $1.46 earnings per share (EPS) for the quarter, beating the consensus estimate 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 quarter in the previous year, the firm posted $1.11 EPS. The firm's revenue for the quarter was up 23.1% on a year-over-year basis. As a group, equities research analysts expect that Houlihan Lokey, Inc. will post 5.79 earnings per share for the current fiscal year.

Houlihan Lokey Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Sunday, December 15th. Shareholders of record on Monday, December 2nd will be paid a dividend of $0.57 per share. This represents a $2.28 annualized dividend and a yield of 1.23%. The ex-dividend date is Monday, December 2nd. Houlihan Lokey's dividend payout ratio (DPR) is currently 46.63%.

Insider Buying and Selling

In related news, Director Gillian Beth Zucker sold 200 shares of the company'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 completion of the transaction, the director now directly owns 6,601 shares in the company, valued at $1,109,496.08. This represents a 2.94 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. 23.68% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several brokerages have commented on HLI. StockNews.com downgraded Houlihan Lokey from a "buy" rating to a "hold" rating in a research note on Wednesday, November 20th. Morgan Stanley boosted their target price on Houlihan Lokey from $146.00 to $163.00 and gave the stock an "equal weight" rating in a report on Monday, September 23rd. UBS Group increased their target price on shares of Houlihan Lokey from $170.00 to $190.00 and gave the stock a "buy" rating in a research note on Tuesday, October 8th. Finally, Wells Fargo & Company began coverage on shares of Houlihan Lokey in a research report on Thursday, September 12th. They set an "underweight" rating and a $149.00 price target for the company. One research analyst has rated the stock with a sell rating, five have issued a hold rating and one has given a buy rating to the company's stock. Based on data from MarketBeat, Houlihan Lokey currently has a consensus rating of "Hold" and an average target price of $157.00.

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.