Houlihan Lokey, Inc. (NYSE:HLI) Stock Position Raised by Exchange Traded Concepts LLC

Exchange Traded Concepts LLC grew its position in Houlihan Lokey, Inc. (NYSE:HLI - Free Report) by 77.6% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 12,289 shares of the financial services provider's stock after purchasing an additional 5,371 shares during the quarter. Exchange Traded Concepts LLC's holdings in Houlihan Lokey were worth $1,942,000 at the end of the most recent reporting period.

Several other institutional investors have also modified their holdings of the company. Teachers Retirement System of The State of Kentucky acquired a new stake in shares of Houlihan Lokey during the fourth quarter worth about $1,427,000. American International Group Inc. lifted its stake in shares of Houlihan Lokey by 15,061.5% in the 4th quarter. American International Group Inc. now owns 69,743 shares of the financial services provider's stock worth $8,363,000 after acquiring an additional 69,283 shares during the period. Vanguard Group Inc. boosted its holdings in Houlihan Lokey by 2.9% in the 4th quarter. Vanguard Group Inc. now owns 5,074,300 shares of the financial services provider's stock valued at $608,459,000 after purchasing an additional 143,560 shares in the last quarter. Quadrature Capital Ltd raised its stake in shares of Houlihan Lokey by 134.1% during the 4th quarter. Quadrature Capital Ltd now owns 11,636 shares of the financial services provider's stock worth $1,395,000 after buying an additional 6,665 shares in the last quarter. Finally, HighPoint Advisor Group LLC purchased a new stake in shares of Houlihan Lokey in the fourth quarter valued at approximately $221,000. 78.07% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several research firms have issued reports on HLI. UBS Group increased their price objective on Houlihan Lokey from $170.00 to $190.00 and gave the stock a "buy" rating in a research report on Tuesday, October 8th. JPMorgan Chase & Co. dropped their price target on Houlihan Lokey from $132.00 to $129.00 and set a "neutral" rating for the company in a research report on Wednesday, July 31st. Morgan Stanley increased their price objective on shares of Houlihan Lokey from $146.00 to $163.00 and gave the company an "equal weight" rating in a research note on Monday, September 23rd. Wells Fargo & Company initiated coverage on Houlihan Lokey in a research report on Thursday, September 12th. They set an "underweight" rating and a $149.00 price objective for the company. 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 report on Wednesday, July 31st. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and one has given a buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of "Hold" and an average target price of $157.00.

Houlihan Lokey Trading Up 0.9 %

HLI traded up $1.59 during trading on Wednesday, hitting $171.50. 262,337 shares of the company's stock were exchanged, compared to its average volume of 320,709. Houlihan Lokey, Inc. has a 1 year low of $94.67 and a 1 year high of $172.31. The stock has a 50 day moving average price of $156.56 and a 200 day moving average price of $142.24. The firm has a market cap of $11.76 billion, a P/E ratio of 41.73 and a beta of 0.66.

Houlihan Lokey (NYSE:HLI - Get Free Report) last posted its earnings results on Tuesday, July 30th. The financial services provider reported $1.22 EPS for the quarter, hitting analysts' consensus estimates 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 period in the previous year, the company posted $0.89 earnings per share. The business's revenue for the quarter was up 23.6% compared to the same quarter last year. Analysts forecast that Houlihan Lokey, Inc. will post 5.64 earnings per share for the current fiscal year.

Houlihan Lokey Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Sunday, September 15th. Shareholders of record on Tuesday, September 3rd were issued a dividend of $0.57 per share. The ex-dividend date was Tuesday, September 3rd. This represents a $2.28 annualized dividend and a yield of 1.33%. Houlihan Lokey's dividend payout ratio is presently 55.47%.

Insider Buying and Selling

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 shares were sold at an average price of $155.29, for a total transaction of $155,290.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, General Counsel Christopher M. Crain sold 1,000 shares of the company's stock in a transaction that occurred on Tuesday, September 3rd. The stock was sold at an average price of $155.29, for a total transaction of $155,290.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Chairman Scott L. Beiser sold 8,317 shares of the firm's stock in a transaction that occurred on Friday, August 16th. The stock was 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 quarter, insiders sold 9,917 shares of company stock worth $1,513,129. Insiders own 25.97% of the company's stock.

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.