NewEdge Advisors LLC Purchases 3,824 Shares of Houlihan Lokey, Inc. (NYSE:HLI)

NewEdge Advisors LLC grew its holdings in shares of Houlihan Lokey, Inc. (NYSE:HLI - Free Report) by 19.4% during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 23,556 shares of the financial services provider's stock after buying an additional 3,824 shares during the period. NewEdge Advisors LLC's holdings in Houlihan Lokey were worth $3,177,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently modified their holdings of HLI. Millennium Management LLC raised its stake in Houlihan Lokey by 24,074.0% during the second quarter. Millennium Management LLC now owns 501,610 shares of the financial services provider's stock valued at $67,647,000 after buying an additional 499,535 shares during the last quarter. Capital International Investors boosted its stake in Houlihan Lokey by 56.7% in the 4th 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 in the last quarter. Sei Investments Co. grew its position in Houlihan Lokey by 39.1% during the 4th quarter. Sei Investments Co. now owns 693,248 shares of the financial services provider's stock valued at $83,128,000 after purchasing an additional 194,867 shares during the last quarter. Jennison Associates LLC increased its stake in Houlihan Lokey by 87.2% during the 1st quarter. Jennison Associates LLC now owns 347,165 shares of the financial services provider's stock valued at $44,503,000 after purchasing an additional 161,753 shares in the last quarter. Finally, Vanguard Group Inc. raised its holdings in Houlihan Lokey by 2.9% in the fourth quarter. Vanguard Group Inc. now owns 5,074,300 shares of the financial services provider's stock worth $608,459,000 after buying an additional 143,560 shares during the last quarter. 78.07% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several equities research analysts recently weighed in on HLI shares. JPMorgan Chase & Co. reduced 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 report on Wednesday, July 31st. UBS Group upped their price target on Houlihan Lokey from $157.00 to $170.00 and gave the company a "buy" rating in a report on Wednesday, July 31st. Wells Fargo & Company assumed coverage on Houlihan Lokey in a report on Thursday, September 12th. They issued an "underweight" rating and a $149.00 price objective for the company. Morgan Stanley boosted their target price 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, Keefe, Bruyette & Woods reaffirmed a "market perform" rating and set a $154.00 price target (up previously from $139.00) on shares of Houlihan Lokey in a report on Wednesday, July 31st. One equities research analyst has rated the stock with a sell rating, five have given a hold rating and one has assigned a buy rating to the company. According to data from MarketBeat, the company currently has an average rating of "Hold" and an average price target of $153.00.

Houlihan Lokey Stock Up 1.5 %

Shares of Houlihan Lokey stock traded up $2.41 during trading hours on Friday, reaching $161.63. 348,504 shares of the stock traded hands, compared to its average volume of 324,559. The company has a 50 day moving average price of $153.15 and a 200 day moving average price of $139.60. Houlihan Lokey, Inc. has a one year low of $94.67 and a one year high of $162.84. The firm has a market capitalization of $11.09 billion, a price-to-earnings ratio of 38.74 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 for the quarter, hitting the consensus estimate of $1.22. Houlihan Lokey had a net margin of 15.30% and a return on equity of 18.80%. The business had revenue of $514.00 million for the quarter, compared to analysts' expectations of $508.70 million. During the same quarter last year, the company posted $0.89 EPS. The company's revenue was up 23.6% compared to the same quarter last year. Sell-side analysts anticipate that Houlihan Lokey, Inc. will post 5.54 earnings per share for the current year.

Houlihan Lokey Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Sunday, September 15th. Stockholders of record on Tuesday, September 3rd were paid a $0.57 dividend. This represents a $2.28 annualized dividend and a dividend yield of 1.41%. The ex-dividend date was Tuesday, September 3rd. Houlihan Lokey's dividend payout ratio (DPR) is currently 55.47%.

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 transaction of $1,263,269.13. The sale was disclosed in a filing with the SEC, which is accessible through this link. In other Houlihan Lokey news, Chairman Scott L. Beiser sold 8,317 shares of the firm's stock in a transaction dated 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 can be accessed through this link. Also, Director Gillian Beth Zucker sold 200 shares of the stock in a transaction dated Tuesday, August 20th. The stock was 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 $1,067,582.49. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 9,717 shares of company stock worth $1,479,513. 25.97% of the stock is owned by company insiders.

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.