Clearbridge Investments LLC Trims Stock Position in Houlihan Lokey, Inc. (NYSE:HLI)

Clearbridge Investments LLC cut its stake in Houlihan Lokey, Inc. (NYSE:HLI - Free Report) by 8.5% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 865,798 shares of the financial services provider's stock after selling 80,587 shares during the quarter. Clearbridge Investments LLC owned approximately 1.26% of Houlihan Lokey worth $116,761,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also made changes to their positions in HLI. Vanguard Group Inc. lifted its stake in Houlihan Lokey by 0.6% in the 1st quarter. Vanguard Group Inc. now owns 5,104,143 shares of the financial services provider's stock worth $654,300,000 after purchasing an additional 29,843 shares in the last quarter. Earnest Partners LLC grew its holdings in shares of Houlihan Lokey by 1.9% in the second quarter. Earnest Partners LLC now owns 3,273,818 shares of the financial services provider's stock valued at $441,507,000 after purchasing an additional 62,314 shares during the period. Kayne Anderson Rudnick Investment Management LLC grew its holdings in shares of Houlihan Lokey by 1.3% in the second quarter. Kayne Anderson Rudnick Investment Management LLC now owns 3,087,898 shares of the financial services provider's stock valued at $416,434,000 after purchasing an additional 38,155 shares during the period. Fiduciary Management Inc. WI increased its position in Houlihan Lokey by 3.4% during the fourth quarter. Fiduciary Management Inc. WI now owns 1,195,597 shares of the financial services provider's stock worth $143,364,000 after purchasing an additional 39,705 shares during the last quarter. Finally, Capital International Investors raised its stake in Houlihan Lokey by 56.7% during the fourth quarter. Capital International Investors now owns 792,073 shares of the financial services provider's stock worth $94,977,000 after purchasing an additional 286,746 shares during the period. Hedge funds and other institutional investors own 78.07% of the company's stock.

Houlihan Lokey Price Performance

Shares of HLI stock traded down $0.78 on Wednesday, hitting $158.81. The stock had a trading volume of 382,747 shares, compared to its average volume of 324,402. The company's 50 day moving average price is $152.57 and its 200-day moving average price is $139.33. Houlihan Lokey, Inc. has a 1 year low of $94.67 and a 1 year high of $162.84. The firm has a market capitalization of $10.89 billion, a P/E ratio of 38.64 and a beta of 0.67.

Houlihan Lokey (NYSE:HLI - Get Free Report) last issued its quarterly earnings results on Tuesday, July 30th. The financial services provider reported $1.22 earnings per share (EPS) for the quarter, hitting the consensus estimate of $1.22. The business had revenue of $514.00 million for 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 business's quarterly revenue was up 23.6% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.89 earnings per share. On average, equities analysts forecast that Houlihan Lokey, Inc. will post 5.54 EPS for the current year.

Houlihan Lokey Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Sunday, September 15th. Shareholders of record on Tuesday, September 3rd were given a $0.57 dividend. The ex-dividend date was Tuesday, September 3rd. This represents a $2.28 annualized dividend and a yield of 1.44%. Houlihan Lokey's dividend payout ratio is presently 55.47%.

Insiders Place Their Bets

In other news, Director Gillian Beth Zucker sold 200 shares of Houlihan Lokey stock in a transaction dated Friday, September 13th. The stock was sold at an average price of $152.28, for a total value of $30,456.00. Following the completion of the transaction, the director now owns 6,801 shares in the company, valued at approximately $1,035,656.28. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In other news, Chairman Scott L. Beiser sold 8,317 shares of the stock in a transaction dated Friday, August 16th. The stock was sold at an average price of $151.89, for a total value of $1,263,269.13. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, Director Gillian Beth Zucker sold 200 shares of the firm's stock in a transaction dated Friday, September 13th. The stock was sold at an average price of $152.28, for a total value of $30,456.00. Following the sale, the director now directly owns 6,801 shares in the company, valued at approximately $1,035,656.28. The disclosure for this sale can be found here. Insiders sold a total of 9,717 shares of company stock worth $1,479,513 over the last 90 days. Corporate insiders own 25.97% of the company's stock.

Wall Street Analysts Forecast Growth

Several analysts have recently weighed in on the stock. JPMorgan Chase & Co. dropped their price target on shares of Houlihan Lokey from $132.00 to $129.00 and set a "neutral" rating for the company in a research note on Wednesday, July 31st. 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 research note on Wednesday, July 31st. Wells Fargo & Company assumed coverage on Houlihan Lokey in a research note on Thursday, September 12th. They issued an "underweight" rating and a $149.00 price target on the stock. Morgan Stanley raised their price objective on Houlihan Lokey from $146.00 to $163.00 and gave the stock an "equal weight" rating in a research report on Monday, September 23rd. Finally, UBS Group upped their target price 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. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating and one has given a buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and a consensus target price of $153.00.

About Houlihan Lokey

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.