Driehaus Capital Management LLC Reduces Position in Houlihan Lokey, Inc. (NYSE:HLI)

Driehaus Capital Management LLC cut its holdings in Houlihan Lokey, Inc. (NYSE:HLI) by 48.1% during the second quarter, HoldingsChannel reports. The firm owned 76,543 shares of the financial services provider’s stock after selling 71,080 shares during the period. Driehaus Capital Management LLC’s holdings in Houlihan Lokey were worth $10,323,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in HLI. Vanguard Group Inc. boosted its holdings 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 buying an additional 29,843 shares in the last quarter. Earnest Partners LLC lifted its holdings in shares of 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. Kayne Anderson Rudnick Investment Management LLC increased its position in Houlihan Lokey by 1.3% during the second 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. Burgundy Asset Management Ltd. grew its position in Houlihan Lokey by 2.8% during the fourth quarter. Burgundy Asset Management Ltd. now owns 1,714,480 shares of the financial services provider’s stock valued at $205,583,000 after acquiring an additional 46,443 shares during the period. Finally, Fiduciary Management Inc. WI grew its holdings in shares of Houlihan Lokey by 3.4% during the 4th quarter. Fiduciary Management Inc. WI now owns 1,195,597 shares of the financial services provider’s stock worth $143,364,000 after purchasing an additional 39,705 shares during the period. 78.07% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Houlihan Lokey

In other news, Chairman Scott L. Beiser sold 8,317 shares of Houlihan Lokey stock in a transaction dated Friday, August 16th. The shares were sold at an average price of $151.89, for a total value of $1,263,269.13. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In other Houlihan Lokey news, Chairman Scott L. Beiser sold 8,317 shares of the firm’s stock in a transaction dated Friday, August 16th. The shares were sold at an average price of $151.89, for a total value of $1,263,269.13. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Gillian Beth Zucker sold 200 shares of the company’s stock in a transaction that occurred on Tuesday, August 20th. The shares were sold at an average price of $152.49, for a total value of $30,498.00. Following the transaction, the director now directly owns 7,001 shares of the company’s stock, valued at $1,067,582.49. The disclosure for this sale can be found here. In the last quarter, insiders sold 9,717 shares of company stock worth $1,479,513. 25.97% of the stock is currently owned by corporate insiders.

Houlihan Lokey Price Performance

NYSE:HLI opened at $157.66 on Monday. The firm has a 50-day moving average of $152.02 and a two-hundred day moving average of $138.84. The stock has a market cap of $10.81 billion, a P/E ratio of 38.36 and a beta of 0.67. Houlihan Lokey, Inc. has a 1-year low of $94.67 and a 1-year high of $162.84.

Houlihan Lokey (NYSE:HLI) last issued its quarterly earnings results on Tuesday, July 30th. The financial services provider reported $1.22 EPS for the quarter, meeting analysts’ consensus estimates of $1.22. Houlihan Lokey had a return on equity of 18.80% and a net margin of 15.30%. The firm had revenue of $514.00 million during the quarter, compared to the consensus estimate of $508.70 million. During the same quarter in the prior year, the business posted $0.89 earnings per share. Houlihan Lokey’s revenue for the quarter was up 23.6% on a year-over-year basis. As a group, equities analysts expect that Houlihan Lokey, Inc. will post 5.54 earnings per share for the current year.

Houlihan Lokey Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Sunday, September 15th. Stockholders of record on Tuesday, September 3rd were given a dividend of $0.57 per share. The ex-dividend date was Tuesday, September 3rd. This represents a $2.28 annualized dividend and a dividend yield of 1.45%. Houlihan Lokey’s payout ratio is 55.47%.

Wall Street Analysts Forecast Growth

A number of analysts recently issued reports on the stock. Wells Fargo & Company initiated coverage on shares of Houlihan Lokey in a research report on Thursday, September 12th. They set an “underweight” rating and a $149.00 target price for the company. 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. Morgan Stanley upped 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 report on Monday, September 23rd. JPMorgan Chase & Co. cut their price objective 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. Finally, UBS Group boosted their price objective on Houlihan Lokey from $157.00 to $170.00 and gave the stock a “buy” rating in a research note on Wednesday, July 31st. One research analyst has rated the stock with a sell rating, five have issued a hold rating and one has given a buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and an average target price of $153.00.

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.