Allspring Global Investments Holdings LLC Sells 2,633 Shares of Houlihan Lokey, Inc. (NYSE:HLI)

Allspring Global Investments Holdings LLC trimmed its position in shares of Houlihan Lokey, Inc. (NYSE:HLI) by 39.7% during the 3rd quarter, Holdings Channel reports. The fund owned 3,994 shares of the financial services provider’s stock after selling 2,633 shares during the period. Allspring Global Investments Holdings LLC’s holdings in Houlihan Lokey were worth $631,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently bought and sold shares of the stock. Raymond James & Associates grew its position in shares of Houlihan Lokey by 1.1% during the 3rd quarter. Raymond James & Associates now owns 157,759 shares of the financial services provider’s stock worth $24,929,000 after buying an additional 1,747 shares in the last quarter. Blue Trust Inc. grew its stake in Houlihan Lokey by 27.1% during the 3rd quarter. Blue Trust Inc. now owns 4,733 shares of the financial services provider’s stock valued at $748,000 after purchasing an additional 1,010 shares during the last quarter. Net Worth Advisory Group purchased a new stake in shares of Houlihan Lokey in the third quarter worth about $325,000. Bleakley Financial Group LLC boosted its stake in shares of Houlihan Lokey by 4.8% in the third quarter. Bleakley Financial Group LLC now owns 4,275 shares of the financial services provider’s stock worth $676,000 after buying an additional 194 shares during the last quarter. Finally, nVerses Capital LLC purchased a new position in Houlihan Lokey during the third quarter worth approximately $442,000. Hedge funds and other institutional investors own 78.07% of the company’s stock.

Houlihan Lokey Stock Down 0.9 %

Shares of HLI stock opened at $171.22 on Friday. The stock has a market capitalization of $11.91 billion, a PE ratio of 35.01 and a beta of 0.66. Houlihan Lokey, Inc. has a 52-week low of $100.92 and a 52-week high of $175.73. The stock’s 50-day moving average price is $160.96 and its 200 day moving average price is $145.55.

Houlihan Lokey (NYSE:HLI) last announced its quarterly earnings data on Wednesday, October 30th. The financial services provider reported $1.46 earnings per share for the quarter, beating analysts’ consensus estimates of $1.31 by $0.15. Houlihan Lokey had a return on equity of 19.67% 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 EPS. The firm’s revenue for the quarter was up 23.1% compared to the same quarter last year. Analysts expect that Houlihan Lokey, Inc. will post 5.64 earnings per share for the current fiscal year.

Houlihan Lokey Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Sunday, December 15th. Investors of record on Monday, December 2nd will be given a dividend of $0.57 per share. The ex-dividend date is Monday, December 2nd. This represents a $2.28 annualized dividend and a dividend yield of 1.33%. Houlihan Lokey’s dividend payout ratio is currently 46.63%.

Insider Buying and Selling

In related news, Chairman Scott L. Beiser sold 8,317 shares of Houlihan Lokey stock in a transaction that occurred on Friday, August 16th. The stock was sold at an average price of $151.89, for a total transaction of $1,263,269.13. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. In other news, General Counsel Christopher M. Crain sold 1,000 shares of the company’s stock in a transaction on Tuesday, September 3rd. The stock was 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 can be accessed through this hyperlink. Also, Chairman Scott L. Beiser sold 8,317 shares of the company’s stock in a transaction on Friday, August 16th. The stock was sold at an average price of $151.89, for a total value of $1,263,269.13. The disclosure for this sale can be found here. Insiders sold 9,917 shares of company stock worth $1,513,129 in the last ninety days. Insiders own 23.68% of the company’s stock.

Analyst Ratings Changes

A number of brokerages have issued reports on HLI. Morgan Stanley increased their price target on 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 target on Houlihan Lokey from $132.00 to $129.00 and set a “neutral” rating for the company in a report on Wednesday, July 31st. UBS Group increased their price objective on 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 started coverage on Houlihan Lokey in a research report on Thursday, September 12th. They issued an “underweight” rating and a $149.00 price objective for the company. Finally, Keefe, Bruyette & Woods restated a “market perform” rating and set a $154.00 price target (up from $139.00) on shares of Houlihan Lokey in a research report on Wednesday, July 31st. One investment analyst has rated the stock with a sell rating, four have given a hold rating and one has assigned a buy rating to the company. Based on data from MarketBeat, the company currently has a consensus 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.