American International Group Inc. grew its stake in shares of Houlihan Lokey Inc (NYSE:HLI) by 20.3% in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 16,580 shares of the financial services provider’s stock after acquiring an additional 2,799 shares during the period. American International Group Inc.’s holdings in Houlihan Lokey were worth $649,000 at the end of the most recent quarter.
A number of other hedge funds also recently modified their holdings of the business. Macquarie Group Ltd. lifted its position in Houlihan Lokey by 8.7% during the third quarter. Macquarie Group Ltd. now owns 579,431 shares of the financial services provider’s stock worth $22,673,000 after acquiring an additional 46,151 shares during the last quarter. Ameriprise Financial Inc. lifted its position in Houlihan Lokey by 1.2% during the third quarter. Ameriprise Financial Inc. now owns 763,720 shares of the financial services provider’s stock worth $29,884,000 after acquiring an additional 8,764 shares during the last quarter. 361 Capital LLC acquired a new stake in Houlihan Lokey during the third quarter worth approximately $2,064,000. Bank of New York Mellon Corp lifted its position in Houlihan Lokey by 11.2% during the third quarter. Bank of New York Mellon Corp now owns 153,154 shares of the financial services provider’s stock worth $5,992,000 after acquiring an additional 15,395 shares during the last quarter. Finally, Advisor Group Inc. lifted its position in Houlihan Lokey by 2,125.0% during the third quarter. Advisor Group Inc. now owns 2,848 shares of the financial services provider’s stock worth $112,000 after acquiring an additional 2,720 shares during the last quarter. Hedge funds and other institutional investors own 34.61% of the company’s stock.
Several brokerages have issued reports on HLI. Keefe, Bruyette & Woods restated a “buy” rating and set a $49.00 price objective on shares of Houlihan Lokey in a research report on Friday. Zacks Investment Research cut shares of Houlihan Lokey from a “strong-buy” rating to a “hold” rating in a report on Tuesday, November 14th. Bank of America raised their target price on shares of Houlihan Lokey from $40.00 to $44.00 and gave the stock a “neutral” rating in a report on Wednesday, October 25th. UBS raised their target price on shares of Houlihan Lokey from $44.00 to $47.00 and gave the stock a “buy” rating in a report on Wednesday, October 25th. Finally, ValuEngine raised shares of Houlihan Lokey from a “hold” rating to a “buy” rating in a report on Friday, September 15th. Two analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. The stock currently has an average rating of “Buy” and a consensus target price of $43.83.
Houlihan Lokey (NYSE:HLI) last announced its earnings results on Tuesday, October 24th. The financial services provider reported $0.56 EPS 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 company had revenue of $242.20 million for the quarter, compared to analysts’ expectations of $207.72 million. During the same period last year, the firm earned $0.37 earnings per share. The business’s revenue for the quarter was up 29.9% on a year-over-year basis. research analysts predict that Houlihan Lokey Inc will post 2.1 EPS for the current fiscal year.
The company also recently disclosed a quarterly dividend, which was paid on Friday, December 15th. Investors of record on Monday, December 4th were paid a $0.20 dividend. The ex-dividend date of this dividend was Friday, December 1st. This represents a $0.80 dividend on an annualized basis and a yield of 1.75%. Houlihan Lokey’s dividend payout ratio (DPR) is 37.91%.
In related news, insider J Lindsey Alley sold 973 shares of Houlihan Lokey stock in a transaction that occurred on Friday, November 3rd. The shares were sold at an average price of $41.63, for a total value of $40,505.99. Following the transaction, the insider now directly owns 973 shares of the company’s stock, valued at $40,505.99. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Scott L. Beiser sold 63,688 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 $2,651,331.44. Following the completion of the transaction, the chief executive officer now directly owns 78,108 shares in the company, valued at $3,251,636.04. The disclosure for this sale can be found here. Insiders sold 2,120,627 shares of company stock worth $88,281,702 over the last three months. 69.70% of the stock is currently owned by insiders.
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Houlihan Lokey 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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