Assetmark Inc. increased its position in Houlihan Lokey, Inc. (NYSE:HLI - Free Report) by 2,482.4% in the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 9,813 shares of the financial services provider's stock after acquiring an additional 9,433 shares during the period. Assetmark Inc.'s holdings in Houlihan Lokey were worth $1,551,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Janney Montgomery Scott LLC purchased a new position in Houlihan Lokey during the first quarter valued at $306,000. Swiss National Bank raised its position in Houlihan Lokey by 1.0% during the first quarter. Swiss National Bank now owns 102,236 shares of the financial services provider's stock valued at $13,106,000 after purchasing an additional 1,000 shares during the period. QRG Capital Management Inc. raised its holdings in Houlihan Lokey by 12.3% during the 1st quarter. QRG Capital Management Inc. now owns 2,748 shares of the financial services provider's stock valued at $352,000 after buying an additional 302 shares during the period. US Bancorp DE raised its stake in shares of Houlihan Lokey by 7.1% in the first quarter. US Bancorp DE now owns 32,886 shares of the financial services provider's stock valued at $4,216,000 after acquiring an additional 2,187 shares during the period. Finally, Bleakley Financial Group LLC lifted its stake in shares of Houlihan Lokey by 9.3% during the 1st quarter. Bleakley Financial Group LLC now owns 4,133 shares of the financial services provider's stock worth $530,000 after acquiring an additional 353 shares during the last quarter. 78.07% of the stock is owned by institutional investors.
Analysts Set New Price Targets
A number of equities research analysts recently weighed in on the stock. StockNews.com upgraded shares of Houlihan Lokey from a "hold" rating to a "buy" rating in a report on Tuesday. Morgan Stanley boosted their price target on shares of Houlihan Lokey from $146.00 to $163.00 and gave the company an "equal weight" rating in a report on Monday, September 23rd. JPMorgan Chase & Co. dropped their price objective on shares of Houlihan Lokey from $132.00 to $129.00 and set a "neutral" rating on the stock in a research note on Wednesday, July 31st. 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. Finally, Wells Fargo & Company assumed coverage on Houlihan Lokey in a report on Thursday, September 12th. They issued an "underweight" rating and a $149.00 price target on the stock. One investment analyst has rated the stock with a sell rating, four have given a hold rating and two have issued a buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of "Hold" and a consensus price target of $157.00.
Read Our Latest Research Report on HLI
Insider Buying and Selling at Houlihan Lokey
In related news, General Counsel Christopher M. Crain sold 1,000 shares of Houlihan Lokey stock in a transaction on Tuesday, September 3rd. The shares were sold at an average price of $155.29, for a total transaction of $155,290.00. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, Director Gillian Beth Zucker sold 200 shares of Houlihan Lokey stock in a transaction dated Tuesday, August 20th. The stock was sold at an average price of $152.49, for a total value of $30,498.00. Following the sale, the director now owns 7,001 shares in the company, valued at $1,067,582.49. This trade represents a 2.78 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 1,600 shares of company stock valued at $249,860 in the last quarter. Corporate insiders own 23.68% of the company's stock.
Houlihan Lokey Stock Down 0.6 %
Shares of HLI traded down $1.04 during midday trading on Friday, reaching $183.04. The company had a trading volume of 56,512 shares, compared to its average volume of 321,097. Houlihan Lokey, Inc. has a 1-year low of $102.29 and a 1-year high of $190.66. The stock has a market cap of $12.73 billion, a PE ratio of 37.66 and a beta of 0.65. The firm has a 50 day simple moving average of $166.18 and a 200-day simple moving average of $149.11.
Houlihan Lokey (NYSE:HLI - Get Free Report) last posted its earnings results on Wednesday, October 30th. The financial services provider reported $1.46 earnings per share for the quarter, beating the consensus estimate of $1.31 by $0.15. Houlihan Lokey had a net margin of 15.77% and a return on equity of 19.29%. The firm had revenue of $574.96 million during the quarter, compared to the consensus estimate of $537.93 million. During the same quarter last year, the firm earned $1.11 EPS. The firm's revenue for the quarter was up 23.1% on a year-over-year basis. As a group, sell-side analysts anticipate that Houlihan Lokey, Inc. will post 5.79 earnings per share for the current fiscal year.
Houlihan Lokey Dividend Announcement
The business also recently declared a quarterly dividend, which will be paid on Sunday, December 15th. Shareholders of record on Monday, December 2nd will be given a $0.57 dividend. This represents a $2.28 dividend on an annualized basis and a yield of 1.25%. The ex-dividend date is Monday, December 2nd. Houlihan Lokey's dividend payout ratio is currently 46.63%.
Houlihan Lokey Company Profile
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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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