Jennison Associates LLC Reduces Holdings in Houlihan Lokey, Inc. (NYSE:HLI)

Jennison Associates LLC reduced its holdings in shares of Houlihan Lokey, Inc. (NYSE:HLI - Free Report) by 44.5% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 69,689 shares of the financial services provider's stock after selling 55,865 shares during the period. Jennison Associates LLC owned approximately 0.10% of Houlihan Lokey worth $11,012,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Strategic Wealth Investment Group LLC increased its stake in Houlihan Lokey by 0.8% during the 3rd quarter. Strategic Wealth Investment Group LLC now owns 8,103 shares of the financial services provider's stock valued at $1,293,000 after purchasing an additional 62 shares in the last quarter. UMB Bank n.a. increased its position in shares of Houlihan Lokey by 12.6% in the 3rd quarter. UMB Bank n.a. now owns 857 shares of the financial services provider's stock valued at $135,000 after acquiring an additional 96 shares during the period. New York State Teachers Retirement System raised its stake in Houlihan Lokey by 0.6% in the 3rd quarter. New York State Teachers Retirement System now owns 17,238 shares of the financial services provider's stock worth $2,724,000 after acquiring an additional 100 shares during the last quarter. Pathstone Holdings LLC grew its stake in Houlihan Lokey by 0.5% during the 3rd quarter. Pathstone Holdings LLC now owns 21,787 shares of the financial services provider's stock valued at $3,443,000 after purchasing an additional 115 shares during the last quarter. Finally, Park Avenue Securities LLC increased its holdings in shares of Houlihan Lokey by 1.4% in the second quarter. Park Avenue Securities LLC now owns 8,532 shares of the financial services provider's stock valued at $1,151,000 after purchasing an additional 120 shares during the period. 78.07% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at Houlihan Lokey

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

Houlihan Lokey Stock Performance

Shares of Houlihan Lokey stock traded up $0.08 on Friday, hitting $188.74. The company's stock had a trading volume of 435,836 shares, compared to its average volume of 332,663. The company has a market capitalization of $13.12 billion, a price-to-earnings ratio of 38.60 and a beta of 0.65. The firm has a fifty day moving average price of $170.32 and a 200-day moving average price of $151.59. Houlihan Lokey, Inc. has a 1 year low of $104.86 and a 1 year high of $191.39.

Houlihan Lokey (NYSE:HLI - Get Free Report) last announced 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. Houlihan Lokey had a return on equity of 19.29% and a net margin of 15.77%. The business had revenue of $574.96 million during the quarter, compared to the consensus estimate of $537.93 million. During the same period in the prior year, the company posted $1.11 EPS. The business's quarterly revenue was up 23.1% on a year-over-year basis. As a group, analysts forecast that Houlihan Lokey, Inc. will post 5.79 EPS for the current year.

Houlihan Lokey Dividend Announcement

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 1.21%. Houlihan Lokey's dividend payout ratio (DPR) is 46.63%.

Analysts Set New Price Targets

A number of equities research analysts recently commented on the company. JPMorgan Chase & Co. dropped their target price on 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 downgraded shares of Houlihan Lokey from a "buy" rating to a "hold" rating in a report on Wednesday. Keefe, Bruyette & Woods reissued a "market perform" rating and set a $154.00 target price (up previously from $139.00) on shares of Houlihan Lokey in a report on Wednesday, July 31st. Wells Fargo & Company began coverage on shares of Houlihan Lokey in a report on Thursday, September 12th. They issued an "underweight" rating and a $149.00 price target on the stock. Finally, UBS Group boosted their price objective on Houlihan Lokey from $170.00 to $190.00 and gave the company a "buy" rating in a report on Tuesday, October 8th. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and one has given a buy rating to the stock. Based on data from MarketBeat.com, Houlihan Lokey has an average rating of "Hold" and an average price target 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.