Houlihan Lokey, Inc. (NYSE:HLI) Shares Sold by State of New Jersey Common Pension Fund D

State of New Jersey Common Pension Fund D cut its position in shares of Houlihan Lokey, Inc. (NYSE:HLI - Free Report) by 19.1% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 17,169 shares of the financial services provider's stock after selling 4,064 shares during the quarter. State of New Jersey Common Pension Fund D's holdings in Houlihan Lokey were worth $2,713,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in HLI. Opal Wealth Advisors LLC acquired a new stake in shares of Houlihan Lokey in the second quarter valued at about $26,000. Crewe Advisors LLC grew its stake in shares of Houlihan Lokey by 264.5% in the second quarter. Crewe Advisors LLC now owns 226 shares of the financial services provider's stock valued at $30,000 after buying an additional 164 shares in the last quarter. Wolff Wiese Magana LLC acquired a new stake in shares of Houlihan Lokey in the third quarter valued at about $38,000. Ashton Thomas Private Wealth LLC acquired a new stake in shares of Houlihan Lokey in the second quarter valued at about $38,000. Finally, Benjamin F. Edwards & Company Inc. grew its stake in shares of Houlihan Lokey by 69.1% in the second quarter. Benjamin F. Edwards & Company Inc. now owns 678 shares of the financial services provider's stock valued at $91,000 after buying an additional 277 shares in the last quarter. 78.07% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, Director Gillian Beth Zucker sold 200 shares of the firm's stock in a transaction that occurred on 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 directly owns 7,001 shares in the company, valued at $1,067,582.49. This trade represents a 2.78 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, General Counsel Christopher M. Crain sold 1,000 shares of the firm's stock in a transaction that occurred 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. In the last 90 days, insiders have sold 9,917 shares of company stock valued at $1,513,129. Insiders own 23.68% of the company's stock.

Houlihan Lokey Stock Down 0.8 %

NYSE:HLI traded down $1.56 during trading hours on Thursday, reaching $184.15. 207,802 shares of the stock were exchanged, compared to its average volume of 322,294. The firm has a 50 day simple moving average of $165.53 and a 200-day simple moving average of $148.87. Houlihan Lokey, Inc. has a 52 week low of $102.29 and a 52 week high of $190.66. The stock has a market capitalization of $12.80 billion, a P/E ratio of 37.60 and a beta of 0.65.

Houlihan Lokey (NYSE:HLI - Get Free Report) last released its earnings results on Wednesday, October 30th. The financial services provider reported $1.46 EPS for the quarter, topping analysts' consensus estimates of $1.31 by $0.15. Houlihan Lokey had a return on equity of 19.29% and a net margin of 15.77%. The company had revenue of $574.96 million for the quarter, compared to the consensus estimate of $537.93 million. During the same quarter last year, the business posted $1.11 EPS. Houlihan Lokey's quarterly revenue was up 23.1% compared to the same quarter last year. As a group, analysts expect that Houlihan Lokey, Inc. will post 5.79 earnings per share for the current year.

Houlihan Lokey Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Sunday, December 15th. Shareholders of record on Monday, December 2nd will be issued a dividend of $0.57 per share. This represents a $2.28 dividend on an annualized basis and a yield of 1.24%. The ex-dividend date of this dividend is Monday, December 2nd. Houlihan Lokey's dividend payout ratio is presently 46.63%.

Analyst Ratings Changes

A number of research firms have recently issued reports on HLI. StockNews.com upgraded Houlihan Lokey from a "hold" rating to a "buy" rating in a research note on Tuesday. UBS Group increased their price target on Houlihan Lokey from $170.00 to $190.00 and gave the company a "buy" rating in a report on Tuesday, October 8th. Keefe, Bruyette & Woods reissued a "market perform" rating and issued a $154.00 price target (up previously from $139.00) on shares of Houlihan Lokey in a report on Wednesday, July 31st. Wells Fargo & Company began coverage on Houlihan Lokey in a report on Thursday, September 12th. They issued an "underweight" rating and a $149.00 price target for the company. Finally, JPMorgan Chase & Co. reduced their price target on Houlihan Lokey from $132.00 to $129.00 and set a "neutral" rating for the company in a report on Wednesday, July 31st. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and two have given a buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Hold" and an average target price of $157.00.

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.