Charles Schwab Investment Management Inc. Has $94.97 Million Stock Holdings in Houlihan Lokey, Inc. (NYSE:HLI)

Charles Schwab Investment Management Inc. lifted its position in shares of Houlihan Lokey, Inc. (NYSE:HLI) by 33.0% in the third quarter, Holdings Channel reports. The institutional investor owned 601,025 shares of the financial services provider’s stock after acquiring an additional 149,114 shares during the period. Charles Schwab Investment Management Inc.’s holdings in Houlihan Lokey were worth $94,974,000 as of its most recent filing with the SEC.

A number of other institutional investors also recently modified their holdings of the business. Millennium Management LLC boosted its holdings in Houlihan Lokey by 24,074.0% in the 2nd quarter. Millennium Management LLC now owns 501,610 shares of the financial services provider’s stock valued at $67,647,000 after purchasing an additional 499,535 shares during the period. Fiera Capital Corp boosted its stake in shares of Houlihan Lokey by 666.8% in the third quarter. Fiera Capital Corp now owns 283,702 shares of the financial services provider’s stock valued at $44,831,000 after buying an additional 246,705 shares during the period. PineStone Asset Management Inc. acquired a new stake in Houlihan Lokey during the second quarter worth approximately $10,141,000. Earnest Partners LLC increased its stake in Houlihan Lokey by 1.9% during the 2nd quarter. Earnest Partners LLC now owns 3,273,818 shares of the financial services provider’s stock worth $441,507,000 after acquiring an additional 62,314 shares during the period. Finally, New York State Common Retirement Fund raised its holdings in Houlihan Lokey by 42.0% in the 3rd quarter. New York State Common Retirement Fund now owns 183,976 shares of the financial services provider’s stock valued at $29,072,000 after acquiring an additional 54,386 shares in the last quarter. Institutional investors own 78.07% of the company’s stock.

Insider Transactions at Houlihan Lokey

In other news, General Counsel Christopher M. Crain sold 1,000 shares of the firm’s stock in a transaction on Tuesday, September 3rd. The shares were sold at an average price of $155.29, for a total transaction of $155,290.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Gillian Beth Zucker sold 200 shares of the business’s stock in a transaction on Friday, September 13th. The stock was sold at an average price of $152.28, for a total transaction of $30,456.00. Following the completion of the sale, the director now directly owns 6,801 shares in the company, valued at approximately $1,035,656.28. This represents a 2.86 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 1,400 shares of company stock worth $219,362. Insiders own 23.68% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts recently commented on HLI shares. JPMorgan Chase & Co. decreased their price target on Houlihan Lokey from $132.00 to $129.00 and set a “neutral” rating on the stock in a research report on Wednesday, July 31st. Keefe, Bruyette & Woods restated a “market perform” rating and issued a $154.00 target price (up from $139.00) on shares of Houlihan Lokey in a research report on Wednesday, July 31st. UBS Group increased their price target 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. Wells Fargo & Company assumed coverage on shares of Houlihan Lokey in a research report on Thursday, September 12th. They set an “underweight” rating and a $149.00 price objective for the company. Finally, Morgan Stanley raised their target price on Houlihan Lokey from $146.00 to $163.00 and gave the company an “equal weight” rating in a report on Monday, September 23rd. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and one has issued a buy rating to the company. According to MarketBeat, the company presently has an average rating of “Hold” and an average price target of $157.00.

Houlihan Lokey Price Performance

HLI stock opened at $190.08 on Wednesday. The stock has a market cap of $13.21 billion, a price-to-earnings ratio of 38.87 and a beta of 0.65. The company has a 50 day simple moving average of $170.99 and a 200 day simple moving average of $152.11. Houlihan Lokey, Inc. has a 1 year low of $104.86 and a 1 year high of $192.10.

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

Houlihan Lokey Dividend Announcement

The company 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 dividend of $0.57 per share. This represents a $2.28 dividend on an annualized basis and a dividend yield of 1.20%. The ex-dividend date is Monday, December 2nd. Houlihan Lokey’s payout ratio is 46.63%.

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.