Hillsdale Investment Management Inc. bought a new position in Houlihan Lokey Inc (NYSE:HLI) during the third quarter, according to its most recent 13F filing with the SEC. The fund bought 32,900 shares of the financial services provider’s stock, valued at approximately $1,287,000.
Several other institutional investors have also bought and sold shares of the company. Vanguard Group Inc. boosted its position in Houlihan Lokey by 3.6% in the 2nd quarter. Vanguard Group Inc. now owns 1,661,986 shares of the financial services provider’s stock valued at $58,003,000 after buying an additional 58,257 shares during the period. Neuberger Berman Group LLC lifted its position in shares of Houlihan Lokey by 122.1% in the 2nd quarter. Neuberger Berman Group LLC now owns 1,193,275 shares of the financial services provider’s stock worth $41,645,000 after purchasing an additional 655,940 shares during the period. Voya Investment Management LLC lifted its position in shares of Houlihan Lokey by 19.6% in the 2nd quarter. Voya Investment Management LLC now owns 843,812 shares of the financial services provider’s stock worth $29,449,000 after purchasing an additional 138,002 shares during the period. Ameriprise Financial Inc. lifted its position in shares of Houlihan Lokey by 1.2% in the 3rd quarter. Ameriprise Financial Inc. now owns 763,720 shares of the financial services provider’s stock worth $29,884,000 after purchasing an additional 8,764 shares during the period. Finally, Macquarie Group Ltd. lifted its position in shares of Houlihan Lokey by 8.7% in the 3rd quarter. Macquarie Group Ltd. now owns 579,431 shares of the financial services provider’s stock worth $22,673,000 after purchasing an additional 46,151 shares during the period. Hedge funds and other institutional investors own 34.63% of the company’s stock.
Houlihan Lokey Inc (HLI) traded up $0.55 during trading hours on Friday, hitting $46.02. 605,792 shares of the stock traded hands, compared to its average volume of 246,741. The company has a current ratio of 0.92, a quick ratio of 0.92 and a debt-to-equity ratio of 0.02. The stock has a market capitalization of $2,997.24, a P/E ratio of 20.50, a P/E/G ratio of 3.03 and a beta of 0.42. Houlihan Lokey Inc has a 12-month low of $29.51 and a 12-month high of $46.30.
Houlihan Lokey (NYSE:HLI) last posted its quarterly earnings results on Tuesday, October 24th. The financial services provider reported $0.56 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.41 by $0.15. Houlihan Lokey had a net margin of 14.58% and a return on equity of 19.71%. The firm had revenue of $242.20 million for the quarter, compared to the consensus estimate of $207.72 million. During the same period last year, the firm posted $0.37 earnings per share. The company’s revenue for the quarter was up 29.9% on a year-over-year basis. analysts expect that Houlihan Lokey Inc will post 2.1 earnings per share for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, December 15th. Investors of record on Monday, December 4th will be given a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a yield of 1.74%. The ex-dividend date of this dividend is Friday, December 1st. Houlihan Lokey’s payout ratio is currently 37.91%.
A number of research firms recently commented on HLI. Keefe, Bruyette & Woods reissued a “buy” rating on shares of Houlihan Lokey in a research report on Tuesday, October 3rd. Bank of America upped their price target on shares of Houlihan Lokey from $40.00 to $44.00 and gave the company a “neutral” rating in a research note on Wednesday, October 25th. ValuEngine upgraded shares of Houlihan Lokey from a “hold” rating to a “buy” rating in a research note on Friday, September 15th. J P Morgan Chase & Co started coverage on shares of Houlihan Lokey in a research note on Tuesday, September 12th. They issued an “overweight” rating and a $42.00 price objective on the stock. Finally, UBS increased their price objective on shares of Houlihan Lokey from $44.00 to $47.00 and gave the stock a “buy” rating in a research note on Wednesday, October 25th. Two investment analysts have rated the stock with a hold rating and six have issued a buy rating to the company. Houlihan Lokey currently has a consensus rating of “Buy” and an average price target of $42.33.
In other Houlihan Lokey news, major shareholder Orix Hlhz Holding Llc sold 1,750,000 shares of Houlihan Lokey stock in a transaction dated Monday, October 30th. The shares were sold at an average price of $41.63, for a total transaction of $72,852,500.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, General Counsel Christopher M. Crain sold 4,014 shares of Houlihan Lokey stock in a transaction that occurred on Monday, October 30th. The shares were sold at an average price of $41.63, for a total transaction of $167,102.82. Following the completion of the transaction, the general counsel now owns 6,063 shares of the company’s stock, valued at approximately $252,402.69. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 2,120,627 shares of company stock valued at $88,281,702. Company insiders own 69.70% of the company’s stock.
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Houlihan Lokey Company Profile
Houlihan Lokey, Inc is a global independent investment bank that focuses on mergers and acquisitions (M&A), capital markets, financial restructuring, valuation, and strategic consulting. The Company operates through four segments: Corporate Finance, Financial Restructuring, Financial Advisory Services and Strategic Consulting.
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