Portside Wealth Group LLC Acquires 232 Shares of Houlihan Lokey, Inc. (NYSE:HLI)

Portside Wealth Group LLC raised its holdings in shares of Houlihan Lokey, Inc. (NYSE:HLI) by 10.4% in the 3rd quarter, HoldingsChannel reports. The firm owned 2,456 shares of the financial services provider’s stock after buying an additional 232 shares during the period. Portside Wealth Group LLC’s holdings in Houlihan Lokey were worth $388,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also recently modified their holdings of the company. Strategic Wealth Investment Group LLC lifted its holdings in Houlihan Lokey by 0.8% during the 3rd quarter. Strategic Wealth Investment Group LLC now owns 8,103 shares of the financial services provider’s stock worth $1,293,000 after purchasing an additional 62 shares during the last quarter. UMB Bank n.a. boosted its position in shares of Houlihan Lokey by 12.6% in the third quarter. UMB Bank n.a. now owns 857 shares of the financial services provider’s stock valued at $135,000 after acquiring an additional 96 shares during the period. Ameritas Investment Partners Inc. grew its stake in shares of Houlihan Lokey by 0.5% in the first quarter. Ameritas Investment Partners Inc. now owns 18,293 shares of the financial services provider’s stock valued at $2,345,000 after acquiring an additional 97 shares in the last quarter. New York State Teachers Retirement System increased its position in Houlihan Lokey by 0.6% during the third quarter. New York State Teachers Retirement System now owns 17,238 shares of the financial services provider’s stock worth $2,724,000 after acquiring an additional 100 shares during the period. Finally, Park Avenue Securities LLC increased its position 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 acquiring an additional 120 shares during the period. 78.07% of the stock is currently owned by institutional investors and hedge funds.

Houlihan Lokey Price Performance

NYSE HLI opened at $185.74 on Friday. The business has a fifty day moving average price of $163.48 and a two-hundred day moving average price of $147.61. The stock has a market capitalization of $12.92 billion, a PE ratio of 37.98 and a beta of 0.65. Houlihan Lokey, Inc. has a fifty-two week low of $100.92 and a fifty-two week high of $189.17.

Houlihan Lokey (NYSE:HLI) last announced its quarterly earnings data on Wednesday, October 30th. The financial services provider reported $1.46 earnings per share for the quarter, topping the consensus estimate of $1.31 by $0.15. The business had revenue of $574.96 million during the quarter, compared to the consensus estimate of $537.93 million. Houlihan Lokey had a return on equity of 19.29% and a net margin of 15.77%. Houlihan Lokey’s revenue for the quarter was up 23.1% on a year-over-year basis. During the same period in the prior year, the company earned $1.11 EPS. As a group, sell-side analysts expect that Houlihan Lokey, Inc. will post 5.79 earnings per share for the current year.

Houlihan Lokey Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Sunday, December 15th. Stockholders of record on Monday, December 2nd will be paid a $0.57 dividend. The ex-dividend date of this dividend is Monday, December 2nd. This represents a $2.28 dividend on an annualized basis and a dividend yield of 1.23%. Houlihan Lokey’s payout ratio is currently 46.63%.

Insider Buying and Selling

In other Houlihan Lokey news, General Counsel Christopher M. Crain sold 1,000 shares of the firm’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 value of $155,290.00. The sale was disclosed in a document filed with the SEC, which is available at this link. In other Houlihan Lokey news, General Counsel Christopher M. Crain sold 1,000 shares of the 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 filing with the Securities & Exchange Commission, which is available through this link. Also, Director Gillian Beth Zucker sold 200 shares of the business’s stock in a transaction dated Monday, October 14th. The stock was sold at an average price of $168.08, for a total value of $33,616.00. Following the sale, the director now owns 6,601 shares in the company, valued at approximately $1,109,496.08. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 9,917 shares of company stock worth $1,513,129 in the last three months. 23.68% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

A number of brokerages have issued reports on HLI. UBS Group increased 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, October 8th. Keefe, Bruyette & Woods reissued a “market perform” rating and set a $154.00 price target (up previously from $139.00) on shares of Houlihan Lokey in a research report on Wednesday, July 31st. JPMorgan Chase & Co. lowered their price objective 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. Wells Fargo & Company began 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. Finally, Morgan Stanley raised their price target 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. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and one has assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $157.00.

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.