Bank of New York Mellon Corp Boosts Stock Position in Houlihan Lokey, Inc. (NYSE:HLI)

Bank of New York Mellon Corp lifted its position in Houlihan Lokey, Inc. (NYSE:HLI - Free Report) by 1.2% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 517,952 shares of the financial services provider's stock after buying an additional 6,291 shares during the quarter. Bank of New York Mellon Corp owned about 0.76% of Houlihan Lokey worth $69,851,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also made changes to their positions in the company. Vanguard Group Inc. grew its stake in shares of Houlihan Lokey by 0.6% in the first quarter. Vanguard Group Inc. now owns 5,104,143 shares of the financial services provider's stock valued at $654,300,000 after buying an additional 29,843 shares in the last quarter. Burgundy Asset Management Ltd. grew its stake in shares of Houlihan Lokey by 2.8% in the fourth quarter. Burgundy Asset Management Ltd. now owns 1,714,480 shares of the financial services provider's stock valued at $205,583,000 after buying an additional 46,443 shares in the last quarter. Fiduciary Management Inc. WI grew its stake in shares of Houlihan Lokey by 3.4% in the fourth quarter. Fiduciary Management Inc. WI now owns 1,195,597 shares of the financial services provider's stock valued at $143,364,000 after buying an additional 39,705 shares in the last quarter. Capital International Investors grew its stake in shares of Houlihan Lokey by 56.7% in the fourth quarter. Capital International Investors now owns 792,073 shares of the financial services provider's stock valued at $94,977,000 after buying an additional 286,746 shares in the last quarter. Finally, Sei Investments Co. grew its stake in shares of Houlihan Lokey by 5.5% in the first quarter. Sei Investments Co. now owns 731,130 shares of the financial services provider's stock valued at $93,723,000 after buying an additional 37,882 shares in the last quarter. 78.07% of the stock is owned by institutional investors.

Analyst Ratings Changes

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

Insider Activity

In other news, insider David A. Preiser sold 20,000 shares of the business's stock in a transaction dated Tuesday, June 4th. The shares were sold at an average price of $133.21, for a total value of $2,664,200.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, insider David A. Preiser sold 20,000 shares of the business's stock in a transaction dated Tuesday, June 4th. The stock was sold at an average price of $133.21, for a total value of $2,664,200.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Chairman Scott L. Beiser sold 8,317 shares of the business's stock in a transaction dated Friday, August 16th. The shares were sold at an average price of $151.89, for a total value of $1,263,269.13. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 38,419 shares of company stock valued at $5,297,213. 25.97% of the stock is owned by company insiders.

Houlihan Lokey Price Performance

HLI stock traded up $2.21 during midday trading on Friday, reaching $156.62. 196,871 shares of the company were exchanged, compared to its average volume of 327,836. The business has a 50-day moving average price of $144.35 and a two-hundred day moving average price of $134.65. The firm has a market capitalization of $10.74 billion, a price-to-earnings ratio of 38.11 and a beta of 0.67. Houlihan Lokey, Inc. has a one year low of $94.67 and a one year high of $157.58.

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, meeting 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%. Houlihan Lokey's quarterly revenue was up 23.6% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.89 earnings per share. As a group, analysts anticipate that Houlihan Lokey, Inc. will post 5.67 earnings per share for the current fiscal year.

Houlihan Lokey Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Sunday, September 15th. Stockholders of record on Tuesday, September 3rd will be given a $0.57 dividend. The ex-dividend date of this dividend is Tuesday, September 3rd. This represents a $2.28 dividend on an annualized basis and a dividend yield of 1.46%. Houlihan Lokey's payout ratio is presently 55.47%.

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.