Fmr LLC Sells 2,841 Shares of Houlihan Lokey, Inc. (NYSE:HLI)

Fmr LLC reduced its stake in shares of Houlihan Lokey, Inc. (NYSE:HLI) by 0.2% in the third quarter, according to its most recent filing with the SEC. The fund owned 1,713,573 shares of the financial services provider’s stock after selling 2,841 shares during the period. Fmr LLC’s holdings in Houlihan Lokey were worth $270,779,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. Earnest Partners LLC raised its position in Houlihan Lokey by 1.9% during the second quarter. Earnest Partners LLC now owns 3,273,818 shares of the financial services provider’s stock valued at $441,507,000 after purchasing an additional 62,314 shares in the last quarter. Kayne Anderson Rudnick Investment Management LLC increased its position 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 valued at $416,434,000 after purchasing an additional 38,155 shares during the last quarter. Sei Investments Co. raised its holdings in shares of Houlihan Lokey by 6.2% during the 2nd quarter. Sei Investments Co. now owns 776,335 shares of the financial services provider’s stock valued at $104,697,000 after buying an additional 45,205 shares in the last quarter. Eagle Asset Management Inc. lifted its position in Houlihan Lokey by 23.6% in the 3rd quarter. Eagle Asset Management Inc. now owns 693,109 shares of the financial services provider’s stock worth $109,525,000 after buying an additional 132,516 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. boosted its stake in Houlihan Lokey by 33.0% in the third quarter. Charles Schwab Investment Management Inc. now owns 601,025 shares of the financial services provider’s stock worth $94,974,000 after buying an additional 149,114 shares in the last quarter. 78.07% of the stock is currently owned by hedge funds and other institutional investors.

Houlihan Lokey Stock Up 0.9 %

Shares of Houlihan Lokey stock opened at $189.09 on Monday. The company’s fifty day simple moving average is $173.43 and its two-hundred day simple moving average is $153.47. Houlihan Lokey, Inc. has a 12-month low of $105.34 and a 12-month high of $192.10. The firm has a market cap of $13.14 billion, a PE ratio of 38.67 and a beta of 0.65.

Houlihan Lokey (NYSE:HLI) last posted its 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. The company had revenue of $574.96 million for the quarter, compared to analysts’ expectations of $537.93 million. Houlihan Lokey had a return on equity of 19.29% and a net margin of 15.77%. Houlihan Lokey’s quarterly revenue was up 23.1% on a year-over-year basis. During the same period last year, the firm earned $1.11 earnings per share. As a group, sell-side analysts expect that Houlihan Lokey, Inc. will post 5.82 earnings per share for the current fiscal year.

Houlihan Lokey Announces Dividend

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

Analyst Ratings Changes

Several research analysts have commented on HLI shares. Wells Fargo & Company assumed coverage on shares of Houlihan Lokey in a research note on Thursday, September 12th. They set an “underweight” rating and a $149.00 price target on the stock. Morgan Stanley boosted their price target on shares of Houlihan Lokey from $146.00 to $163.00 and gave the stock an “equal weight” rating in a research note on Monday, September 23rd. StockNews.com cut Houlihan Lokey from a “buy” rating to a “hold” rating in a research note on Wednesday, November 20th. Finally, UBS Group boosted their target price on Houlihan Lokey from $170.00 to $190.00 and gave the company a “buy” rating in a research note on Tuesday, October 8th. One analyst has rated the stock with a sell rating, five have given a hold rating and one has assigned a buy rating to the company. According to data from MarketBeat.com, Houlihan Lokey currently has an average rating of “Hold” and a consensus price target of $157.00.

Insider Buying and Selling

In other Houlihan Lokey news, Director Gillian Beth Zucker sold 200 shares of the company’s stock in a transaction that occurred on Monday, October 14th. The stock was sold at an average price of $168.08, for a total transaction of $33,616.00. Following the transaction, the director now owns 6,601 shares in the company, valued at approximately $1,109,496.08. This represents a 2.94 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, 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 disclosure for this sale can be found here. Insiders sold 1,400 shares of company stock valued at $219,362 over the last quarter. 23.68% of the stock is owned by company insiders.

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.