Rhumbline Advisers Trims Stake in Houlihan Lokey, Inc. (NYSE:HLI)

Rhumbline Advisers lessened its stake in shares of Houlihan Lokey, Inc. (NYSE:HLI) by 2.4% during the second quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 165,272 shares of the financial services provider’s stock after selling 3,982 shares during the quarter. Rhumbline Advisers owned about 0.24% of Houlihan Lokey worth $22,289,000 at the end of the most recent reporting period.

Other hedge funds also recently bought and sold shares of the company. Victory Capital Management Inc. boosted its stake in shares of Houlihan Lokey by 32.4% during the fourth quarter. Victory Capital Management Inc. now owns 59,208 shares of the financial services provider’s stock valued at $7,100,000 after acquiring an additional 14,475 shares during the last quarter. M&T Bank Corp lifted its holdings in Houlihan Lokey by 13.7% in the 4th quarter. M&T Bank Corp now owns 4,379 shares of the financial services provider’s stock valued at $525,000 after purchasing an additional 526 shares in the last quarter. Private Advisor Group LLC boosted its stake in shares of Houlihan Lokey by 3.3% during the 4th quarter. Private Advisor Group LLC now owns 3,198 shares of the financial services provider’s stock worth $383,000 after purchasing an additional 102 shares during the last quarter. Charles Schwab Investment Management Inc. grew its holdings in shares of Houlihan Lokey by 3.6% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 430,152 shares of the financial services provider’s stock worth $51,580,000 after buying an additional 14,985 shares in the last quarter. Finally, Principal Securities Inc. acquired a new position in shares of Houlihan Lokey in the fourth quarter valued at approximately $82,000. Hedge funds and other institutional investors own 78.07% of the company’s stock.

Houlihan Lokey Stock Down 2.0 %

HLI stock opened at $148.90 on Friday. The company has a market cap of $10.21 billion, a price-to-earnings ratio of 36.23 and a beta of 0.67. The business has a fifty day simple moving average of $146.86 and a 200-day simple moving average of $135.66. Houlihan Lokey, Inc. has a 52 week low of $94.67 and a 52 week high of $157.58.

Houlihan Lokey (NYSE:HLI) last posted its quarterly earnings results on Tuesday, July 30th. The financial services provider reported $1.22 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $1.22. The firm had revenue of $514.00 million during the quarter, compared to the consensus estimate of $508.70 million. Houlihan Lokey had a return on equity of 18.80% and a net margin of 15.30%. The firm’s quarterly revenue was up 23.6% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.89 earnings per share. As a group, analysts expect that Houlihan Lokey, Inc. will post 5.64 earnings per share for the current fiscal year.

Houlihan Lokey Announces Dividend

The firm also recently announced 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. This represents a $2.28 dividend on an annualized basis and a yield of 1.53%. The ex-dividend date is Tuesday, September 3rd. Houlihan Lokey’s dividend payout ratio (DPR) is presently 55.47%.

Insider Activity at Houlihan Lokey

In other Houlihan Lokey news, General Counsel Christopher M. Crain sold 1,000 shares of the business’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 transaction of $155,290.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. In other Houlihan Lokey news, General Counsel Christopher M. Crain sold 1,000 shares of the firm’s stock in a transaction dated Tuesday, September 3rd. The stock was sold at an average price of $155.29, for a total value of $155,290.00. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Chairman Irwin Gold sold 9,902 shares of the company’s stock in a transaction dated Friday, June 28th. The stock was sold at an average price of $135.25, for a total value of $1,339,245.50. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 19,419 shares of company stock worth $2,788,303. Company insiders own 25.97% of the company’s stock.

Analysts Set New Price Targets

A number of analysts recently issued reports on the stock. UBS Group raised their target price on shares of Houlihan Lokey from $157.00 to $170.00 and gave the stock a “buy” rating in a research report on Wednesday, July 31st. Morgan Stanley raised their price objective on Houlihan Lokey from $131.00 to $148.00 and gave the stock an “equal weight” rating in a report on Tuesday, July 23rd. JPMorgan Chase & Co. lowered their price objective 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. Finally, Keefe, Bruyette & Woods reiterated a “market perform” rating and set a $154.00 target price (up from $139.00) on shares of Houlihan Lokey in a research report on Wednesday, July 31st. Five equities research analysts have rated the stock with a hold rating and one has issued a buy rating to the company. According to data from MarketBeat.com, Houlihan Lokey presently has a consensus rating of “Hold” and an average target price of $150.25.

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.