Wellington Management Group LLP Lowers Holdings in Houlihan Lokey, Inc. (NYSE:HLI)

Wellington Management Group LLP cut its position in Houlihan Lokey, Inc. (NYSE:HLI - Free Report) by 6.8% in the 3rd quarter, according to its most recent disclosure with the SEC. The fund owned 1,850,640 shares of the financial services provider's stock after selling 134,776 shares during the period. Wellington Management Group LLP owned approximately 2.66% of Houlihan Lokey worth $292,438,000 as of its most recent SEC filing.

Several other large investors have also bought and sold shares of the company. Millennium Management LLC increased its position in shares of 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 acquiring an additional 499,535 shares in the last quarter. Fiera Capital Corp increased its holdings in shares of Houlihan Lokey by 666.8% in the 3rd quarter. Fiera Capital Corp now owns 283,702 shares of the financial services provider's stock worth $44,831,000 after purchasing an additional 246,705 shares in the last quarter. Charles Schwab Investment Management Inc. raised its stake in shares of Houlihan Lokey by 33.0% in the third quarter. Charles Schwab Investment Management Inc. now owns 601,025 shares of the financial services provider's stock worth $94,974,000 after purchasing an additional 149,114 shares during the last quarter. Eagle Asset Management Inc. lifted its holdings in shares of Houlihan Lokey by 23.6% during the third quarter. Eagle Asset Management Inc. now owns 693,109 shares of the financial services provider's stock valued at $109,525,000 after purchasing an additional 132,516 shares in the last quarter. Finally, Azora Capital LP purchased a new stake in shares of Houlihan Lokey during the third quarter valued at $13,230,000. 78.07% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of equities analysts have weighed in on HLI shares. Wells Fargo & Company initiated coverage on Houlihan Lokey in a research report on Thursday, September 12th. They issued an "underweight" rating and a $149.00 target price for the company. UBS Group increased their price objective on shares of Houlihan Lokey from $170.00 to $190.00 and gave the company a "buy" rating in a research report on Tuesday, October 8th. StockNews.com cut shares of Houlihan Lokey from a "buy" rating to a "hold" rating in a report on Wednesday, November 20th. Finally, Morgan Stanley boosted their target price 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. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating and one has issued a buy rating to the stock. Based on data from MarketBeat, Houlihan Lokey presently has a consensus rating of "Hold" and an average target price of $157.00.

Houlihan Lokey Price Performance

Shares of HLI traded down $1.00 on Friday, reaching $184.30. The company's stock had a trading volume of 322,076 shares, compared to its average volume of 260,023. The stock's 50 day simple moving average is $175.99 and its two-hundred day simple moving average is $155.23. The stock has a market capitalization of $12.81 billion, a P/E ratio of 37.69 and a beta of 0.67. Houlihan Lokey, Inc. has a 12-month low of $112.17 and a 12-month high of $192.10.

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

Houlihan Lokey Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Sunday, December 15th. Shareholders of record on Monday, December 2nd will be given a $0.57 dividend. 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 payout ratio is 46.63%.

Insider Transactions at Houlihan Lokey

In other Houlihan Lokey news, Director Gillian Beth Zucker sold 200 shares of the company's stock in a transaction that occurred on Monday, October 14th. The shares were sold at an average price of $168.08, for a total value of $33,616.00. Following the completion of the transaction, the director now directly owns 6,601 shares in the company, valued at $1,109,496.08. This represents a 2.94 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Corporate insiders own 23.68% of the company's stock.

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.