Houlihan Lokey, Inc. (NYSE:HLI) Shares Sold by Pier Capital LLC

Pier Capital LLC lessened its holdings in Houlihan Lokey, Inc. (NYSE:HLI - Free Report) by 9.9% in the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 66,740 shares of the financial services provider's stock after selling 7,360 shares during the period. Houlihan Lokey makes up approximately 1.3% of Pier Capital LLC's portfolio, making the stock its 16th largest position. Pier Capital LLC owned 0.10% of Houlihan Lokey worth $9,001,000 as of its most recent SEC filing.

Several other institutional investors have also modified their holdings of the business. Victory Capital Management Inc. raised its holdings in Houlihan Lokey by 32.4% during the fourth quarter. Victory Capital Management Inc. now owns 59,208 shares of the financial services provider's stock worth $7,100,000 after purchasing an additional 14,475 shares in the last quarter. M&T Bank Corp lifted its position in Houlihan Lokey by 13.7% in the fourth quarter. M&T Bank Corp now owns 4,379 shares of the financial services provider's stock valued at $525,000 after acquiring an additional 526 shares during the last quarter. Private Advisor Group LLC lifted its position in Houlihan Lokey by 3.3% in the fourth quarter. Private Advisor Group LLC now owns 3,198 shares of the financial services provider's stock valued at $383,000 after acquiring an additional 102 shares during the last quarter. Charles Schwab Investment Management Inc. boosted its stake in Houlihan Lokey by 3.6% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 430,152 shares of the financial services provider's stock valued at $51,580,000 after acquiring an additional 14,985 shares in the last quarter. Finally, Principal Securities Inc. purchased a new position in shares of Houlihan Lokey during the fourth quarter worth about $82,000. Institutional investors and hedge funds own 78.07% of the company's stock.

Insider Activity at Houlihan Lokey

In other Houlihan Lokey news, Chairman Scott L. Beiser sold 8,317 shares of Houlihan Lokey stock in a transaction that occurred on Friday, August 16th. The shares were sold at an average price of $151.89, for a total value of $1,263,269.13. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In other news, Chairman Scott L. Beiser sold 8,317 shares of the firm's stock in a transaction on Friday, August 16th. The stock was sold at an average price of $151.89, for a total transaction of $1,263,269.13. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, 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 value of $155,290.00. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 19,419 shares of company stock valued at $2,788,303. Company insiders own 25.97% of the company's stock.

Houlihan Lokey Price Performance

HLI traded down $1.54 during midday trading on Wednesday, reaching $151.20. 265,257 shares of the company's stock were exchanged, compared to its average volume of 324,662. The business's 50-day moving average price is $147.92 and its 200 day moving average price is $136.11. The stock has a market capitalization of $10.51 billion, a PE ratio of 36.79 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 released its quarterly earnings results on Tuesday, July 30th. The financial services provider reported $1.22 earnings per share for the quarter, hitting analysts' consensus estimates of $1.22. Houlihan Lokey had a return on equity of 18.80% and a net margin of 15.30%. The company had revenue of $514.00 million during the quarter, compared to analysts' expectations of $508.70 million. During the same period in the previous year, the firm posted $0.89 earnings per share. The business's revenue for the quarter was up 23.6% compared to the same quarter last year. As a group, analysts expect that Houlihan Lokey, Inc. will post 5.64 EPS for the current fiscal year.

Houlihan Lokey Announces Dividend

The company also recently disclosed 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. This represents a $2.28 dividend on an annualized basis and a dividend yield of 1.51%. The ex-dividend date is Tuesday, September 3rd. Houlihan Lokey's dividend payout ratio is presently 55.47%.

Wall Street Analysts Forecast Growth

HLI has been the subject of several research reports. Morgan Stanley boosted their target price on Houlihan Lokey from $131.00 to $148.00 and gave the company an "equal weight" rating in a report on Tuesday, July 23rd. Keefe, Bruyette & Woods reissued a "market perform" rating and issued a $154.00 price objective (up 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 research report on Wednesday, July 31st. Finally, UBS Group upped their price target on shares of Houlihan Lokey from $157.00 to $170.00 and gave the company a "buy" rating in a research report 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 stock. Based on data from MarketBeat, Houlihan Lokey currently has an average rating of "Hold" and a consensus target price of $150.25.

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.