Van ECK Associates Corp Has $3.15 Million Position in Houlihan Lokey, Inc. (NYSE:HLI)

Van ECK Associates Corp boosted its holdings in shares of Houlihan Lokey, Inc. (NYSE:HLI) by 19.8% during the second quarter, Holdings Channel reports. The institutional investor owned 23,368 shares of the financial services provider’s stock after acquiring an additional 3,862 shares during the quarter. Van ECK Associates Corp’s holdings in Houlihan Lokey were worth $3,151,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors have also recently bought and sold shares of the business. Ameritas Investment Partners Inc. boosted its stake in Houlihan Lokey by 0.5% during the first quarter. Ameritas Investment Partners Inc. now owns 18,293 shares of the financial services provider’s stock worth $2,345,000 after buying an additional 97 shares in the last quarter. Private Advisor Group LLC boosted its stake in Houlihan Lokey by 3.3% during the fourth quarter. Private Advisor Group LLC now owns 3,198 shares of the financial services provider’s stock worth $383,000 after buying an additional 102 shares in the last quarter. Park Avenue Securities LLC boosted its stake in Houlihan Lokey by 1.4% during the second quarter. Park Avenue Securities LLC now owns 8,532 shares of the financial services provider’s stock worth $1,151,000 after buying an additional 120 shares in the last quarter. EverSource Wealth Advisors LLC boosted its stake in Houlihan Lokey by 12.1% during the fourth quarter. EverSource Wealth Advisors LLC now owns 1,139 shares of the financial services provider’s stock worth $137,000 after buying an additional 123 shares in the last quarter. Finally, Portside Wealth Group LLC boosted its stake in shares of Houlihan Lokey by 6.3% in the 2nd quarter. Portside Wealth Group LLC now owns 2,224 shares of the financial services provider’s stock valued at $300,000 after purchasing an additional 131 shares in the last quarter. Institutional investors and hedge funds own 78.07% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts have recently commented on the stock. JPMorgan Chase & Co. reduced their target price on shares of Houlihan Lokey from $132.00 to $129.00 and set a “neutral” rating on the stock in a research note on Wednesday, July 31st. Morgan Stanley boosted their target price on shares of Houlihan Lokey from $131.00 to $148.00 and gave the company an “equal weight” rating in a research note on Tuesday, July 23rd. Keefe, Bruyette & Woods restated a “market perform” rating and issued a $154.00 target price (up previously from $139.00) on shares of Houlihan Lokey in a research note on Wednesday, July 31st. Finally, UBS Group boosted their target price on shares of Houlihan Lokey from $157.00 to $170.00 and gave the company a “buy” rating in a research note on Wednesday, July 31st. Five analysts have rated the stock with a hold rating and one has given a buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $150.25.

Insider Buying and Selling

In related news, Chairman Irwin Gold sold 9,902 shares of the company’s stock in a transaction dated Friday, June 28th. The shares were sold at an average price of $135.25, for a total transaction of $1,339,245.50. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. In other Houlihan Lokey news, Chairman Irwin Gold sold 9,902 shares of the business’s stock in a transaction dated Friday, June 28th. The stock was sold at an average price of $135.25, for a total transaction of $1,339,245.50. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, Chairman Scott L. Beiser sold 8,317 shares of the business’s stock in a transaction dated 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. Insiders have sold a total of 19,419 shares of company stock worth $2,788,303 in the last 90 days. Corporate insiders own 25.97% of the company’s stock.

Houlihan Lokey Stock Up 0.4 %

Shares of NYSE HLI opened at $152.00 on Friday. The firm’s 50-day simple moving average is $146.58 and its 200 day simple moving average is $135.50. The company has a market cap of $10.42 billion, a price-to-earnings ratio of 36.98 and a beta of 0.67. Houlihan Lokey, Inc. has a 12-month low of $94.67 and a 12-month high of $157.58.

Houlihan Lokey (NYSE:HLI) last issued its quarterly earnings results on Tuesday, July 30th. The financial services provider reported $1.22 earnings per share (EPS) for the quarter, hitting the consensus estimate of $1.22. The business had revenue of $514.00 million for the quarter, compared to the consensus estimate of $508.70 million. Houlihan Lokey had a net margin of 15.30% and a return on equity of 18.80%. The firm’s quarterly revenue was up 23.6% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.89 EPS. On average, equities analysts expect that Houlihan Lokey, Inc. will post 5.64 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, September 15th. Investors of record on Tuesday, September 3rd will be given a dividend of $0.57 per share. The ex-dividend date of this dividend is Tuesday, September 3rd. This represents a $2.28 annualized dividend and a yield of 1.50%. Houlihan Lokey’s dividend payout ratio (DPR) is 55.47%.

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.