Raymond James & Associates Purchases 12,588 Shares of Houlihan Lokey, Inc. (NYSE:HLI)

Raymond James & Associates boosted its holdings in shares of Houlihan Lokey, Inc. (NYSE:HLI - Free Report) by 8.8% during the 2nd quarter, according to its most recent 13F filing with the SEC. The fund owned 156,012 shares of the financial services provider's stock after purchasing an additional 12,588 shares during the period. Raymond James & Associates owned approximately 0.23% of Houlihan Lokey worth $21,040,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Opal Wealth Advisors LLC purchased a new stake in shares of Houlihan Lokey in the second quarter valued at about $26,000. Accent Capital Management LLC purchased a new stake in shares of Houlihan Lokey in the fourth quarter valued at about $42,000. Benjamin F. Edwards & Company Inc. boosted its holdings in shares of Houlihan Lokey by 194.9% in the first quarter. Benjamin F. Edwards & Company Inc. now owns 401 shares of the financial services provider's stock valued at $52,000 after acquiring an additional 265 shares in the last quarter. Mather Group LLC. purchased a new stake in shares of Houlihan Lokey in the first quarter valued at about $74,000. Finally, Principal Securities Inc. purchased a new stake in shares of Houlihan Lokey in the fourth quarter valued at about $82,000. 78.07% of the stock is owned by hedge funds and other institutional investors.

Houlihan Lokey Stock Up 0.3 %

Shares of NYSE HLI traded up $0.44 during midday trading on Thursday, hitting $153.17. The company had a trading volume of 202,843 shares, compared to its average volume of 334,435. Houlihan Lokey, Inc. has a twelve month low of $94.67 and a twelve month high of $154.92. The business has a 50-day simple moving average of $141.62 and a two-hundred day simple moving average of $133.50. The firm has a market capitalization of $10.51 billion, a price-to-earnings ratio of 37.32 and a beta of 0.67.

Houlihan Lokey (NYSE:HLI - Get Free Report) last announced its earnings results on Tuesday, July 30th. The financial services provider reported $1.22 earnings per share (EPS) for the quarter, hitting analysts' consensus estimates of $1.22. The company had revenue of $514.00 million during the quarter, compared to analysts' expectations of $508.70 million. Houlihan Lokey had a net margin of 15.30% and a return on equity of 18.80%. The firm's quarterly revenue was up 23.6% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.89 earnings per share. On average, equities analysts forecast that Houlihan Lokey, Inc. will post 5.67 EPS for the current year.

Houlihan Lokey Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Sunday, September 15th. Shareholders of record on Tuesday, September 3rd will be given a dividend of $0.57 per share. This represents a $2.28 dividend on an annualized basis and a yield of 1.49%. The ex-dividend date is Tuesday, September 3rd. Houlihan Lokey's payout ratio is currently 55.47%.

Insiders Place Their Bets

In other Houlihan Lokey news, insider David A. Preiser sold 20,000 shares of Houlihan Lokey stock in a transaction dated Tuesday, June 4th. The shares were sold at an average price of $133.21, for a total transaction of $2,664,200.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In other news, Director Gillian Beth Zucker sold 200 shares of Houlihan Lokey stock in a transaction dated Tuesday, August 20th. The shares were sold at an average price of $152.49, for a total transaction of $30,498.00. Following the completion of the sale, the director now directly owns 7,001 shares in the company, valued at $1,067,582.49. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider David A. Preiser sold 20,000 shares of Houlihan Lokey stock in a transaction dated Tuesday, June 4th. The stock was sold at an average price of $133.21, for a total transaction of $2,664,200.00. The disclosure for this sale can be found here. Over the last quarter, insiders sold 38,419 shares of company stock worth $5,297,213. Insiders own 25.97% of the company's stock.

Wall Street Analysts Forecast Growth

HLI has been the topic of several analyst reports. Keefe, Bruyette & Woods reaffirmed a "market perform" rating and issued a $154.00 target price (up previously from $139.00) on shares of Houlihan Lokey in a report on Wednesday, July 31st. JPMorgan Chase & Co. lowered their target price on shares of Houlihan Lokey from $132.00 to $129.00 and set a "neutral" rating on the stock in a report on Wednesday, July 31st. UBS Group raised their price objective on shares of Houlihan Lokey from $157.00 to $170.00 and gave the company a "buy" rating in a research note on Wednesday, July 31st. Finally, Morgan Stanley raised their price objective on shares of Houlihan Lokey from $131.00 to $148.00 and gave the company an "equal weight" rating in a research note on Tuesday, July 23rd. Five research analysts have rated the stock with a hold rating and one has issued a buy rating to the company's stock. Based on data from MarketBeat.com, the stock has an average rating of "Hold" and a consensus price target of $150.25.

Houlihan Lokey Company 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.