HighTower Advisors LLC trimmed its stake in Houlihan Lokey, Inc. (NYSE:HLI - Free Report) by 6.9% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 257,910 shares of the financial services provider's stock after selling 19,092 shares during the period. HighTower Advisors LLC owned about 0.37% of Houlihan Lokey worth $40,782,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
A number of other hedge funds have also added to or reduced their stakes in HLI. Centiva Capital LP purchased a new position in shares of Houlihan Lokey during the third quarter valued at $408,000. Benjamin Edwards Inc. grew its holdings in Houlihan Lokey by 17,100.0% during the 3rd quarter. Benjamin Edwards Inc. now owns 1,548 shares of the financial services provider's stock worth $245,000 after acquiring an additional 1,539 shares in the last quarter. Azora Capital LP purchased a new position in Houlihan Lokey during the 3rd quarter valued at about $13,230,000. Isthmus Partners LLC purchased a new stake in shares of Houlihan Lokey in the 3rd quarter worth approximately $803,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank boosted its stake in shares of Houlihan Lokey by 5.8% during the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 11,814 shares of the financial services provider's stock valued at $1,867,000 after purchasing an additional 645 shares in the last quarter. 78.07% of the stock is currently owned by institutional investors.
Houlihan Lokey Price Performance
NYSE HLI traded down $0.07 during trading on Thursday, hitting $185.28. The company's stock had a trading volume of 289,829 shares, compared to its average volume of 319,449. Houlihan Lokey, Inc. has a fifty-two week low of $112.17 and a fifty-two week high of $192.10. The company has a market cap of $12.88 billion, a PE ratio of 37.88 and a beta of 0.67. The business's 50 day simple moving average is $174.92 and its 200-day simple moving average is $154.55.
Houlihan Lokey (NYSE:HLI - Get Free Report) last released its earnings results on Wednesday, October 30th. The financial services provider reported $1.46 earnings per share for the quarter, topping the consensus estimate of $1.31 by $0.15. The company had revenue of $574.96 million for the quarter, compared to the consensus estimate of $537.93 million. Houlihan Lokey had a net margin of 15.77% and a return on equity of 19.29%. Houlihan Lokey's revenue was up 23.1% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $1.11 EPS. Analysts expect that Houlihan Lokey, Inc. will post 5.79 EPS 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. Investors of record on Monday, December 2nd will be given a $0.57 dividend. This represents a $2.28 annualized dividend and a dividend yield of 1.23%. The ex-dividend date is Monday, December 2nd. Houlihan Lokey's payout ratio is 46.63%.
Wall Street Analysts Forecast Growth
A number of brokerages recently commented on HLI. UBS Group upped their target price on Houlihan Lokey from $170.00 to $190.00 and gave the stock a "buy" rating in a report on Tuesday, October 8th. Morgan Stanley upped their price objective on Houlihan Lokey from $146.00 to $163.00 and gave the stock an "equal weight" rating in a research note on Monday, September 23rd. StockNews.com lowered Houlihan Lokey from a "buy" rating to a "hold" rating in a research note on Wednesday, November 20th. 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 equities research analyst has rated the stock with a sell rating, five have given a hold rating and one has assigned a buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of "Hold" and a consensus price target of $157.00.
View Our Latest Stock Report on Houlihan Lokey
Insider Buying and Selling
In other Houlihan Lokey news, Director Gillian Beth Zucker sold 200 shares of Houlihan Lokey stock in a transaction dated Friday, September 13th. The stock was sold at an average price of $152.28, for a total transaction of $30,456.00. Following the completion of the transaction, the director now owns 6,801 shares in the company, valued at approximately $1,035,656.28. This trade represents a 2.86 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this link. 23.68% of the stock is currently owned by company insiders.
About Houlihan Lokey
(
Free Report)
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.
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