First Horizon Advisors Inc. Increases Stake in Houlihan Lokey, Inc. (NYSE:HLI)

First Horizon Advisors Inc. boosted its stake in Houlihan Lokey, Inc. (NYSE:HLI) by 81.5% in the third quarter, according to the company in its most recent disclosure with the SEC. The firm owned 441 shares of the financial services provider’s stock after purchasing an additional 198 shares during the quarter. First Horizon Advisors Inc.’s holdings in Houlihan Lokey were worth $70,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also recently bought and sold shares of the stock. PNC Financial Services Group Inc. grew its stake in shares of Houlihan Lokey by 2.9% during the 3rd quarter. PNC Financial Services Group Inc. now owns 13,945 shares of the financial services provider’s stock valued at $2,204,000 after buying an additional 387 shares during the period. OneAscent Financial Services LLC purchased a new stake in Houlihan Lokey during the third quarter valued at about $332,000. Pathstone Holdings LLC raised its holdings in shares of Houlihan Lokey by 0.5% in the 3rd quarter. Pathstone Holdings LLC now owns 21,787 shares of the financial services provider’s stock worth $3,443,000 after purchasing an additional 115 shares during the period. OneAscent Wealth Management LLC purchased a new position in shares of Houlihan Lokey in the 3rd quarter worth about $330,000. Finally, Quest Partners LLC acquired a new position in shares of Houlihan Lokey in the 3rd quarter valued at about $92,000. Institutional investors and hedge funds own 78.07% of the company’s stock.

Houlihan Lokey Price Performance

Houlihan Lokey stock opened at $188.74 on Monday. Houlihan Lokey, Inc. has a 12-month low of $104.86 and a 12-month high of $191.39. The company has a market capitalization of $13.12 billion, a price-to-earnings ratio of 38.60 and a beta of 0.65. The firm’s fifty day moving average price is $170.32 and its 200 day moving average price is $151.72.

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, topping 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 business had revenue of $574.96 million for the quarter, compared to analyst estimates of $537.93 million. During the same period in the previous year, the company earned $1.11 earnings per share. The company’s revenue for the quarter was up 23.1% compared to the same quarter last year. Analysts forecast that Houlihan Lokey, Inc. will post 5.79 earnings per share for the current fiscal year.

Houlihan Lokey Announces Dividend

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 given a dividend of $0.57 per share. This represents a $2.28 dividend on an annualized basis and a dividend yield of 1.21%. The ex-dividend date is Monday, December 2nd. Houlihan Lokey’s payout ratio is currently 46.63%.

Insider Buying and Selling

In related news, General Counsel Christopher M. Crain sold 1,000 shares of the business’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 sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Gillian Beth Zucker sold 200 shares of the company’s stock in a transaction that occurred on Monday, October 14th. The shares were 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 $1,109,496.08. The trade was a 2.94 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 1,400 shares of company stock worth $219,362. Insiders own 23.68% of the company’s stock.

Wall Street Analyst Weigh In

HLI has been the subject of a number of research analyst reports. StockNews.com downgraded shares of Houlihan Lokey from a “buy” rating to a “hold” rating in a research report on Wednesday, November 20th. Keefe, Bruyette & Woods reissued a “market perform” rating and issued a $154.00 target price (up previously from $139.00) on shares of Houlihan Lokey in a research note on Wednesday, July 31st. JPMorgan Chase & Co. decreased their price target on shares of Houlihan Lokey from $132.00 to $129.00 and set a “neutral” rating for the company in a research report on Wednesday, July 31st. Morgan Stanley raised their price objective on 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, Wells Fargo & Company assumed coverage on Houlihan Lokey in a research report on Thursday, September 12th. They issued an “underweight” rating and a $149.00 target price for the company. One research analyst has rated the stock with a sell rating, five have issued a hold rating and one has issued a buy rating to the stock. According to MarketBeat, Houlihan Lokey currently has an average rating of “Hold” and an average price target of $157.00.

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.