Burgundy Asset Management Ltd. Sells 304,066 Shares of Houlihan Lokey, Inc. (NYSE:HLI)

Burgundy Asset Management Ltd. lowered its stake in shares of Houlihan Lokey, Inc. (NYSE:HLI) by 20.3% during the 2nd quarter, Holdings Channel.com reports. The institutional investor owned 1,195,950 shares of the financial services provider’s stock after selling 304,066 shares during the period. Houlihan Lokey comprises about 1.7% of Burgundy Asset Management Ltd.’s holdings, making the stock its 21st largest position. Burgundy Asset Management Ltd.’s holdings in Houlihan Lokey were worth $161,286,000 at the end of the most recent quarter.

A number of other institutional investors also recently bought and sold shares of the stock. Private Advisor Group LLC grew its holdings 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 acquiring an additional 102 shares during the period. Principal Securities Inc. purchased a new stake in Houlihan Lokey in the fourth quarter worth $82,000. BNP Paribas Financial Markets raised its holdings in Houlihan Lokey by 122.6% in the fourth quarter. BNP Paribas Financial Markets now owns 14,130 shares of the financial services provider’s stock worth $1,694,000 after purchasing an additional 7,782 shares in the last quarter. Vanguard Personalized Indexing Management LLC lifted its position in Houlihan Lokey by 14.5% during the fourth quarter. Vanguard Personalized Indexing Management LLC now owns 5,952 shares of the financial services provider’s stock valued at $714,000 after buying an additional 753 shares during the period. Finally, Securian Asset Management Inc. bought a new stake in shares of Houlihan Lokey during the 4th quarter valued at $522,000. 78.07% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several research analysts recently issued reports on HLI shares. Wells Fargo & Company initiated coverage on shares of Houlihan Lokey in a research note on Thursday, September 12th. They issued an “underweight” rating and a $149.00 price target for the company. Morgan Stanley decreased their target price on shares of Houlihan Lokey from $148.00 to $146.00 and set an “equal weight” rating for the company in a research note on Wednesday. UBS Group boosted their price target on Houlihan Lokey from $157.00 to $170.00 and gave the stock a “buy” rating in a research report on Wednesday, July 31st. JPMorgan Chase & Co. cut their price target on Houlihan Lokey from $132.00 to $129.00 and set a “neutral” rating on the stock in a research note on Wednesday, July 31st. Finally, Keefe, Bruyette & Woods reiterated a “market perform” rating and set a $154.00 price objective (up previously from $139.00) on shares of Houlihan Lokey in a research note on Wednesday, July 31st. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating and one has assigned a buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $149.60.

Insider Activity at Houlihan Lokey

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 value of $1,339,245.50. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In other Houlihan Lokey news, Chairman Irwin Gold sold 9,902 shares of Houlihan Lokey stock in a transaction that occurred on Friday, June 28th. The shares were sold at an average price of $135.25, for a total value of $1,339,245.50. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Chairman Scott L. Beiser sold 8,317 shares of the stock in a transaction on Friday, August 16th. The shares were 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 19,619 shares of company stock valued at $2,818,759 over the last ninety days. Insiders own 25.97% of the company’s stock.

Houlihan Lokey Stock Performance

Shares of NYSE HLI opened at $154.64 on Thursday. The firm’s 50 day moving average price is $149.89 and its 200-day moving average price is $137.02. Houlihan Lokey, Inc. has a 52-week low of $94.67 and a 52-week high of $160.62. The company has a market cap of $10.61 billion, a PE ratio of 37.63 and a beta of 0.67.

Houlihan Lokey (NYSE:HLI) last announced its quarterly earnings data on Tuesday, July 30th. The financial services provider reported $1.22 earnings per share for the quarter, hitting analysts’ consensus estimates of $1.22. Houlihan Lokey had a net margin of 15.30% and a return on equity of 18.80%. The company had revenue of $514.00 million during the quarter, compared to analyst estimates of $508.70 million. During the same period in the previous year, the business earned $0.89 EPS. The firm’s revenue for the quarter was up 23.6% on a year-over-year basis. On average, analysts forecast that Houlihan Lokey, Inc. will post 5.64 earnings per share for the current fiscal year.

Houlihan Lokey Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Sunday, September 15th. Stockholders of record on Tuesday, September 3rd were issued a dividend of $0.57 per share. This represents a $2.28 dividend on an annualized basis and a dividend yield of 1.47%. The ex-dividend date was Tuesday, September 3rd. Houlihan Lokey’s payout ratio is currently 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.