Houlihan Lokey, Inc. (NYSE:HLI) Shares Purchased by Assetmark Inc.

Assetmark Inc. raised its position in Houlihan Lokey, Inc. (NYSE:HLI) by 2,482.4% during the third quarter, according to its most recent filing with the SEC. The institutional investor owned 9,813 shares of the financial services provider’s stock after purchasing an additional 9,433 shares during the period. Assetmark Inc.’s holdings in Houlihan Lokey were worth $1,551,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in HLI. Vanguard Group Inc. boosted its position in Houlihan Lokey by 0.6% during the first quarter. Vanguard Group Inc. now owns 5,104,143 shares of the financial services provider’s stock worth $654,300,000 after acquiring an additional 29,843 shares during the last quarter. Earnest Partners LLC lifted its stake in Houlihan Lokey by 1.9% in the 2nd quarter. Earnest Partners LLC now owns 3,273,818 shares of the financial services provider’s stock worth $441,507,000 after purchasing an additional 62,314 shares in the last quarter. Kayne Anderson Rudnick Investment Management LLC boosted its holdings in shares of Houlihan Lokey by 1.3% during the 2nd quarter. Kayne Anderson Rudnick Investment Management LLC now owns 3,087,898 shares of the financial services provider’s stock worth $416,434,000 after purchasing an additional 38,155 shares during the last quarter. Sei Investments Co. grew its position in shares of Houlihan Lokey by 6.2% in the second quarter. Sei Investments Co. now owns 776,335 shares of the financial services provider’s stock valued at $104,697,000 after purchasing an additional 45,205 shares in the last quarter. Finally, Bank of New York Mellon Corp lifted its position in Houlihan Lokey by 1.2% during the second quarter. Bank of New York Mellon Corp now owns 517,952 shares of the financial services provider’s stock worth $69,851,000 after buying an additional 6,291 shares in the last quarter. Institutional investors and hedge funds own 78.07% of the company’s stock.

Houlihan Lokey Stock Performance

Houlihan Lokey stock opened at $184.15 on Friday. The company’s 50 day simple moving average is $166.18 and its 200-day simple moving average is $149.11. Houlihan Lokey, Inc. has a 1 year low of $102.29 and a 1 year high of $190.66. The company has a market capitalization of $12.80 billion, a price-to-earnings ratio of 37.66 and a beta of 0.65.

Houlihan Lokey (NYSE:HLI) last announced its earnings results on Wednesday, October 30th. The financial services provider reported $1.46 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.31 by $0.15. Houlihan Lokey had a return on equity of 19.29% and a net margin of 15.77%. The company had revenue of $574.96 million for the quarter, compared to analyst estimates of $537.93 million. During the same quarter in the previous year, the company earned $1.11 earnings per share. The firm’s quarterly revenue was up 23.1% compared to the same quarter last year. Equities analysts expect that Houlihan Lokey, Inc. will post 5.79 earnings per share for the current year.

Houlihan Lokey Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Sunday, December 15th. Investors of record on Monday, December 2nd will be issued a dividend of $0.57 per share. This represents a $2.28 dividend on an annualized basis and a yield of 1.24%. The ex-dividend date of this dividend is Monday, December 2nd. Houlihan Lokey’s dividend payout ratio (DPR) is 46.63%.

Analysts Set New Price Targets

Several brokerages have issued reports on HLI. StockNews.com upgraded Houlihan Lokey from a “hold” rating to a “buy” rating in a report on Tuesday. 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 note on Tuesday, October 8th. Wells Fargo & Company assumed 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 lifted their price target on shares of Houlihan Lokey from $146.00 to $163.00 and gave the company an “equal weight” rating in a research report on Monday, September 23rd. Finally, 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. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and two have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $157.00.

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 on Tuesday, September 3rd. The shares were 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 accessible through the SEC website. Also, Director Gillian Beth Zucker sold 200 shares of the stock in a transaction on Friday, September 13th. The shares were sold at an average price of $152.28, for a total value of $30,456.00. Following the completion of the sale, the director now owns 6,801 shares in the company, valued at approximately $1,035,656.28. The trade was a 2.86 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 1,600 shares of company stock worth $249,860 in the last three months. 23.68% of the stock is owned by company insiders.

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.