Neuberger Berman Group LLC lifted its position in Houlihan Lokey (NYSE:HLI) by 12.6% during the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 1,232,165 shares of the financial services provider’s stock after purchasing an additional 138,040 shares during the quarter. Neuberger Berman Group LLC owned about 1.87% of Houlihan Lokey worth $54,955,000 at the end of the most recent quarter.
Several other institutional investors have also recently added to or reduced their stakes in the company. California Public Employees Retirement System increased its holdings in shares of Houlihan Lokey by 12.1% in the fourth quarter. California Public Employees Retirement System now owns 10,205 shares of the financial services provider’s stock worth $464,000 after purchasing an additional 1,100 shares during the period. American International Group Inc. increased its holdings in shares of Houlihan Lokey by 8.8% in the fourth quarter. American International Group Inc. now owns 18,037 shares of the financial services provider’s stock worth $819,000 after purchasing an additional 1,457 shares during the period. ETRADE Capital Management LLC increased its holdings in shares of Houlihan Lokey by 23.6% in the fourth quarter. ETRADE Capital Management LLC now owns 7,906 shares of the financial services provider’s stock worth $359,000 after purchasing an additional 1,512 shares during the period. Rhumbline Advisers increased its holdings in shares of Houlihan Lokey by 8.3% in the first quarter. Rhumbline Advisers now owns 24,981 shares of the financial services provider’s stock worth $1,114,000 after purchasing an additional 1,923 shares during the period. Finally, California State Teachers Retirement System increased its holdings in shares of Houlihan Lokey by 4.9% in the fourth quarter. California State Teachers Retirement System now owns 42,211 shares of the financial services provider’s stock worth $1,918,000 after purchasing an additional 1,989 shares during the period. 46.12% of the stock is currently owned by hedge funds and other institutional investors.
Houlihan Lokey opened at $49.40 on Tuesday, according to MarketBeat.com. The firm has a market capitalization of $3.19 billion, a P/E ratio of 20.67, a PEG ratio of 1.21 and a beta of 0.57. The company has a current ratio of 0.77, a quick ratio of 0.77 and a debt-to-equity ratio of 0.01. Houlihan Lokey has a 52 week low of $32.72 and a 52 week high of $52.81.
Houlihan Lokey (NYSE:HLI) last released its earnings results on Wednesday, May 9th. The financial services provider reported $0.65 EPS for the quarter, beating the Zacks’ consensus estimate of $0.58 by $0.07. The business had revenue of $244.75 million for the quarter, compared to analysts’ expectations of $236.68 million. Houlihan Lokey had a return on equity of 20.08% and a net margin of 17.88%. The firm’s revenue was down 4.8% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.59 earnings per share. sell-side analysts anticipate that Houlihan Lokey will post 2.71 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Friday, June 15th. Investors of record on Monday, June 4th will be paid a $0.27 dividend. This represents a $1.08 dividend on an annualized basis and a yield of 2.19%. The ex-dividend date is Friday, June 1st. This is a boost from Houlihan Lokey’s previous quarterly dividend of $0.20. Houlihan Lokey’s dividend payout ratio is currently 33.47%.
In other Houlihan Lokey news, General Counsel Christopher M. Crain sold 4,599 shares of the company’s stock in a transaction dated Thursday, March 15th. The shares were sold at an average price of $46.75, for a total transaction of $215,003.25. Following the completion of the sale, the general counsel now directly owns 4,599 shares in the company, valued at $215,003.25. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, major shareholder Orix Hlhz Holding Llc sold 218,000 shares of the company’s stock in a transaction dated Friday, May 18th. The shares were sold at an average price of $4,395,050.00, for a total transaction of $958,120,900,000.00. The disclosure for this sale can be found here. In the last three months, insiders sold 319,349 shares of company stock worth $989,594,164,990. 69.70% of the stock is owned by insiders.
Several research analysts have recently weighed in on HLI shares. Zacks Investment Research cut shares of Houlihan Lokey from a “hold” rating to a “sell” rating in a report on Tuesday, April 17th. Buckingham Research started coverage on Houlihan Lokey in a research note on Thursday, April 5th. They issued a “buy” rating and a $54.00 target price on the stock. ValuEngine raised Houlihan Lokey from a “hold” rating to a “buy” rating in a research note on Wednesday, May 2nd. Finally, Bank of America increased their target price on Houlihan Lokey from $50.00 to $52.00 and gave the company a “neutral” rating in a research note on Tuesday, January 30th. Two analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and an average target price of $50.50.
About Houlihan Lokey
Houlihan Lokey, Inc, an investment banking company, provides mergers and acquisitions (M&A), financings, financial restructurings, and financial advisory services in the United States, Canada, Europe, Asia, Australia, the Middle East, Latin America, and Africa. Its Corporate Finance segment offers general financial advisory services on M&A and capital markets offerings; advises public and private institutions on buy-side and sell-side transactions, leveraged loans, private mezzanine debt, high-yield debt, initial public offerings, follow-ons, convertibles, equity private placements, private equity, and liability management transactions; and advises financial sponsors on various transactions.
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