IndexIQ Advisors LLC lifted its position in shares of Houlihan Lokey, Inc. (NYSE:HLI) by 83.1% during the third quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 25,157 shares of the financial services provider’s stock after buying an additional 11,415 shares during the quarter. IndexIQ Advisors LLC’s holdings in Houlihan Lokey were worth $984,000 at the end of the most recent quarter.
Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Vanguard Group Inc. lifted its stake in Houlihan Lokey by 3.6% in the 2nd quarter. Vanguard Group Inc. now owns 1,661,986 shares of the financial services provider’s stock worth $58,003,000 after purchasing an additional 58,257 shares in the last quarter. Neuberger Berman Group LLC lifted its stake in Houlihan Lokey by 122.1% in the 2nd quarter. Neuberger Berman Group LLC now owns 1,193,275 shares of the financial services provider’s stock worth $41,645,000 after purchasing an additional 655,940 shares in the last quarter. Voya Investment Management LLC lifted its stake in Houlihan Lokey by 19.6% in the 2nd quarter. Voya Investment Management LLC now owns 843,812 shares of the financial services provider’s stock worth $29,449,000 after purchasing an additional 138,002 shares in the last quarter. Ameriprise Financial Inc. lifted its stake in Houlihan Lokey by 17.7% in the 2nd quarter. Ameriprise Financial Inc. now owns 754,956 shares of the financial services provider’s stock worth $26,348,000 after purchasing an additional 113,420 shares in the last quarter. Finally, Bank of America Corp DE lifted its stake in Houlihan Lokey by 10.4% in the 1st quarter. Bank of America Corp DE now owns 429,782 shares of the financial services provider’s stock worth $14,806,000 after purchasing an additional 40,517 shares in the last quarter. Institutional investors own 32.27% of the company’s stock.
A number of analysts have recently weighed in on HLI shares. UBS AG restated a “buy” rating and issued a $42.00 target price (up from $40.00) on shares of Houlihan Lokey in a report on Wednesday, July 26th. Keefe, Bruyette & Woods restated a “buy” rating on shares of Houlihan Lokey in a report on Tuesday, October 3rd. Zacks Investment Research downgraded shares of Houlihan Lokey from a “buy” rating to a “hold” rating in a report on Friday, July 28th. TheStreet upgraded shares of Houlihan Lokey from a “c” rating to a “b-” rating in a report on Monday, August 14th. Finally, BidaskClub downgraded shares of Houlihan Lokey from a “strong-buy” rating to a “buy” rating in a report on Tuesday, July 25th. One research analyst has rated the stock with a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the company’s stock. The stock has an average rating of “Buy” and an average target price of $42.33.
Shares of Houlihan Lokey, Inc. (NYSE:HLI) opened at $41.78 on Friday. The stock has a market cap of $2,760.00 and a PE ratio of 18.77. The company has a debt-to-equity ratio of 0.02, a current ratio of 0.92 and a quick ratio of 1.00. Houlihan Lokey, Inc. has a 52-week low of $23.62 and a 52-week high of $44.15.
Houlihan Lokey (NYSE:HLI) last released its quarterly earnings data on Tuesday, October 24th. The financial services provider reported $0.56 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.41 by $0.15. The company had revenue of $242.20 million during the quarter, compared to analysts’ expectations of $207.72 million. Houlihan Lokey had a net margin of 14.58% and a return on equity of 19.71%. The firm’s quarterly revenue was up 29.9% on a year-over-year basis. During the same period in the previous year, the company earned $0.37 EPS. equities research analysts anticipate that Houlihan Lokey, Inc. will post 2.1 earnings per share for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, December 15th. Shareholders of record on Monday, December 4th will be given a $0.20 dividend. The ex-dividend date of this dividend is Friday, December 1st. This represents a $0.80 annualized dividend and a yield of 1.91%. Houlihan Lokey’s dividend payout ratio (DPR) is 37.91%.
In other news, Chairman Irwin Gold sold 91,453 shares of the company’s stock in a transaction that occurred on Monday, October 30th. The shares were sold at an average price of $41.63, for a total value of $3,807,188.39. Following the completion of the sale, the chairman now owns 102,314 shares of the company’s stock, valued at approximately $4,259,331.82. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, major shareholder Orix Hlhz Holding Llc sold 1,750,000 shares of the company’s stock in a transaction that occurred on Monday, October 30th. The stock was sold at an average price of $41.63, for a total transaction of $72,852,500.00. The disclosure for this sale can be found here. Over the last three months, insiders sold 2,807,387 shares of company stock valued at $113,183,620. 69.70% of the stock is owned by corporate insiders.
Houlihan Lokey Profile
Houlihan Lokey, Inc is a global independent investment bank that focuses on mergers and acquisitions (M&A), capital markets, financial restructuring, valuation, and strategic consulting. The Company operates through four segments: Corporate Finance, Financial Restructuring, Financial Advisory Services and Strategic Consulting.
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