Handelsbanken Fonder AB Buys 2,400 Shares of Houlihan Lokey, Inc. (NYSE:HLI)

Handelsbanken Fonder AB lifted its stake in shares of Houlihan Lokey, Inc. (NYSE:HLI) by 24.6% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 12,158 shares of the financial services provider’s stock after purchasing an additional 2,400 shares during the quarter. Handelsbanken Fonder AB’s holdings in Houlihan Lokey were worth $1,921,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Millennium Management LLC increased its holdings 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 worth $67,647,000 after buying an additional 499,535 shares in the last quarter. Jennison Associates LLC raised its position in Houlihan Lokey by 87.2% in the first quarter. Jennison Associates LLC now owns 347,165 shares of the financial services provider’s stock valued at $44,503,000 after purchasing an additional 161,753 shares during the last quarter. Vanguard Group Inc. raised its position in Houlihan Lokey by 2.9% in the fourth quarter. Vanguard Group Inc. now owns 5,074,300 shares of the financial services provider’s stock valued at $608,459,000 after purchasing an additional 143,560 shares during the last quarter. PineStone Asset Management Inc. acquired a new stake in shares of Houlihan Lokey during the second quarter valued at about $10,141,000. Finally, American International Group Inc. grew its holdings in shares of Houlihan Lokey by 15,061.5% during the fourth quarter. American International Group Inc. now owns 69,743 shares of the financial services provider’s stock worth $8,363,000 after purchasing an additional 69,283 shares during the last quarter. Institutional investors own 78.07% of the company’s stock.

Insider Activity

In other news, Chairman Scott L. Beiser sold 8,317 shares of the firm’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 sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In other Houlihan Lokey news, Director Gillian Beth Zucker sold 200 shares of the company’s stock in a transaction on Tuesday, August 20th. The shares were sold at an average price of $152.49, for a total transaction of $30,498.00. Following the transaction, the director now owns 7,001 shares in the company, valued at approximately $1,067,582.49. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, Chairman Scott L. Beiser sold 8,317 shares of Houlihan Lokey stock in a transaction dated Friday, August 16th. The shares were sold at an average price of $151.89, for a total transaction of $1,263,269.13. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 9,717 shares of company stock worth $1,479,513. Company insiders own 25.97% of the company’s stock.

Analyst Ratings Changes

Several research firms recently commented on HLI. UBS Group lifted their target price on shares of Houlihan Lokey from $170.00 to $190.00 and gave the stock a “buy” rating in a research report on Tuesday. Wells Fargo & Company initiated coverage on Houlihan Lokey in a research report on Thursday, September 12th. They set an “underweight” rating and a $149.00 target price for the company. JPMorgan Chase & Co. cut their target price on Houlihan Lokey from $132.00 to $129.00 and set a “neutral” rating on the stock in a report on Wednesday, July 31st. Morgan Stanley raised their price objective on Houlihan Lokey from $146.00 to $163.00 and gave the stock an “equal weight” rating in a research report on Monday, September 23rd. Finally, Keefe, Bruyette & Woods reiterated a “market perform” rating and issued a $154.00 target price (up from $139.00) on shares of Houlihan Lokey in a report on Wednesday, July 31st. One analyst has rated the stock with a sell rating, four have given a hold rating and one has given a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $157.00.

Houlihan Lokey Price Performance

Shares of Houlihan Lokey stock opened at $164.22 on Friday. The stock’s 50-day moving average is $154.60 and its 200 day moving average is $140.95. Houlihan Lokey, Inc. has a one year low of $94.67 and a one year high of $166.45. The firm has a market cap of $11.26 billion, a price-to-earnings ratio of 39.96 and a beta of 0.66.

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, hitting analysts’ consensus estimates of $1.22. The firm had revenue of $514.00 million for the quarter, compared to analysts’ expectations of $508.70 million. Houlihan Lokey had a return on equity of 18.80% and a net margin of 15.30%. The company’s revenue for the quarter was up 23.6% compared to the same quarter last year. During the same period in the prior year, the business earned $0.89 EPS. On average, sell-side analysts expect that Houlihan Lokey, Inc. will post 5.54 EPS for the current fiscal year.

Houlihan Lokey Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Sunday, September 15th. Shareholders of record on Tuesday, September 3rd were paid a $0.57 dividend. This represents a $2.28 annualized dividend and a yield of 1.39%. The ex-dividend date of this dividend was Tuesday, September 3rd. Houlihan Lokey’s dividend payout ratio (DPR) is currently 55.47%.

Houlihan Lokey Company 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.