Chase Investment Counsel Corp Takes Position in Houlihan Lokey, Inc. (NYSE:HLI)

Chase Investment Counsel Corp purchased a new stake in shares of Houlihan Lokey, Inc. (NYSE:HLI - Free Report) during the 2nd quarter, according to its most recent disclosure with the SEC. The fund purchased 24,172 shares of the financial services provider's stock, valued at approximately $3,260,000.

Other institutional investors have also added to or reduced their stakes in the company. TD Asset Management Inc increased its holdings in Houlihan Lokey by 204.3% in the 2nd quarter. TD Asset Management Inc now owns 7,000 shares of the financial services provider's stock worth $944,000 after purchasing an additional 4,700 shares in the last quarter. FineMark National Bank & Trust boosted its position in Houlihan Lokey by 2.3% during the 2nd quarter. FineMark National Bank & Trust now owns 48,800 shares of the financial services provider's stock worth $6,581,000 after buying an additional 1,076 shares during the period. Pzena Investment Management LLC grew its holdings in Houlihan Lokey by 82.4% during the 2nd quarter. Pzena Investment Management LLC now owns 3,463 shares of the financial services provider's stock worth $467,000 after acquiring an additional 1,564 shares during the last quarter. Fiera Capital Corp increased its position in Houlihan Lokey by 0.9% in the 2nd quarter. Fiera Capital Corp now owns 36,997 shares of the financial services provider's stock valued at $4,989,000 after acquiring an additional 318 shares during the period. Finally, CIBC Asset Management Inc bought a new position in shares of Houlihan Lokey during the second quarter valued at $201,000. 78.07% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several research analysts recently issued reports on HLI shares. Morgan Stanley raised their target price on Houlihan Lokey from $131.00 to $148.00 and gave the stock an "equal weight" rating in a research report on Tuesday, July 23rd. JPMorgan Chase & Co. dropped their price target on 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 price objective on shares of Houlihan Lokey from $157.00 to $170.00 and gave the company a "buy" rating in a report on Wednesday, July 31st. Finally, Keefe, Bruyette & Woods restated a "market perform" rating and issued a $154.00 target price (up from $139.00) on shares of Houlihan Lokey in a research note on Wednesday, July 31st. Five equities research analysts have rated the stock with a hold rating and one has given a buy rating to the company. According to MarketBeat, Houlihan Lokey presently has an average rating of "Hold" and an average price target of $150.25.

Insider Activity

In other Houlihan Lokey news, General Counsel Christopher M. Crain sold 1,000 shares of the business's stock in a transaction on Tuesday, September 3rd. The stock was sold at an average price of $155.29, for a total value of $155,290.00. The transaction was disclosed in a legal filing with the SEC, which is available at this link. In related news, Director Gillian Beth Zucker sold 200 shares of Houlihan Lokey stock in a transaction that occurred on Tuesday, August 20th. The shares were 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 of the company's stock, valued at approximately $1,067,582.49. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, General Counsel Christopher M. Crain sold 1,000 shares of the company's stock in a transaction on Tuesday, September 3rd. The shares were sold at an average price of $155.29, for a total value of $155,290.00. The disclosure for this sale can be found here. Insiders sold a total of 19,419 shares of company stock valued at $2,788,303 over the last three months. Corporate insiders own 25.97% of the company's stock.

Houlihan Lokey Price Performance

Shares of NYSE HLI traded up $0.65 during mid-day trading on Thursday, reaching $152.00. 145,995 shares of the company's stock traded hands, compared to its average volume of 325,375. The business has a 50-day simple moving average of $146.58 and a 200 day simple moving average of $135.50. The stock has a market cap of $10.42 billion, a P/E ratio of 36.98 and a beta of 0.67. Houlihan Lokey, Inc. has a 1-year low of $94.67 and a 1-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 EPS for the quarter, meeting the consensus estimate of $1.22. Houlihan Lokey had a net margin of 15.30% and a return on equity of 18.80%. The company had revenue of $514.00 million during the quarter, compared to the consensus estimate of $508.70 million. During the same quarter in the prior year, the company posted $0.89 earnings per share. The firm's revenue for the quarter was up 23.6% on a year-over-year basis. Equities research analysts anticipate that Houlihan Lokey, Inc. will post 5.64 earnings per share for the current fiscal year.

Houlihan Lokey Dividend Announcement

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 issued a $0.57 dividend. This represents a $2.28 annualized dividend and a dividend yield of 1.50%. The ex-dividend date is Tuesday, September 3rd. Houlihan Lokey's dividend payout ratio is presently 55.47%.

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.