JPMorgan Chase & Co. cut its position in Houlihan Lokey (NYSE:HLI) by 25.8% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 233,986 shares of the financial services provider’s stock after selling 81,200 shares during the quarter. JPMorgan Chase & Co.’s holdings in Houlihan Lokey were worth $10,436,000 at the end of the most recent reporting period.
Several other institutional investors and hedge funds have also recently modified their holdings of the business. BlackRock Inc. raised its stake in shares of Houlihan Lokey by 7.9% in the fourth quarter. BlackRock Inc. now owns 2,066,583 shares of the financial services provider’s stock valued at $93,884,000 after buying an additional 151,682 shares during the period. Kayne Anderson Rudnick Investment Management LLC raised its stake in shares of Houlihan Lokey by 1,175.8% in the first quarter. Kayne Anderson Rudnick Investment Management LLC now owns 1,277,490 shares of the financial services provider’s stock valued at $56,976,000 after buying an additional 1,177,361 shares during the period. Neuberger Berman Group LLC raised its stake in shares of Houlihan Lokey by 12.6% in the first quarter. Neuberger Berman Group LLC now owns 1,232,165 shares of the financial services provider’s stock valued at $54,955,000 after buying an additional 138,040 shares during the period. Burgundy Asset Management Ltd. raised its stake in shares of Houlihan Lokey by 2.4% in the fourth quarter. Burgundy Asset Management Ltd. now owns 1,208,454 shares of the financial services provider’s stock valued at $54,900,000 after buying an additional 27,987 shares during the period. Finally, Bamco Inc. NY raised its stake in shares of Houlihan Lokey by 180.1% in the first quarter. Bamco Inc. NY now owns 1,019,189 shares of the financial services provider’s stock valued at $45,456,000 after buying an additional 655,339 shares during the period. Hedge funds and other institutional investors own 45.61% of the company’s stock.
NYSE:HLI opened at $52.43 on Friday. The company has a debt-to-equity ratio of 0.01, a quick ratio of 0.72 and a current ratio of 0.72. Houlihan Lokey has a 52-week low of $34.16 and a 52-week high of $52.86. The firm has a market cap of $3.43 billion, a P/E ratio of 21.94, a P/E/G ratio of 1.30 and a beta of 0.61.
The business also recently disclosed a quarterly dividend, which was paid on Friday, June 15th. Investors of record on Monday, June 4th were paid a dividend of $0.27 per share. This represents a $1.08 dividend on an annualized basis and a dividend yield of 2.06%. This is a positive change from Houlihan Lokey’s previous quarterly dividend of $0.20. The ex-dividend date was Friday, June 1st. Houlihan Lokey’s payout ratio is presently 45.19%.
In related news, major shareholder Orix Hlhz Holding Llc sold 2,682,983 shares of the business’s stock in a transaction on Monday, June 4th. The stock was sold at an average price of $49.11, for a total transaction of $131,761,295.13. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider J Lindsey Alley sold 13,895 shares of the business’s stock in a transaction on Monday, June 4th. The shares were sold at an average price of $49.11, for a total value of $682,383.45. Following the sale, the insider now owns 13,895 shares in the company, valued at $682,383.45. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 2,940,840 shares of company stock worth $989,723,085,872. 69.70% of the stock is currently owned by corporate insiders.
Several analysts have issued reports on the company. Zacks Investment Research upgraded Houlihan Lokey from a “hold” rating to a “buy” rating and set a $56.00 target price on the stock in a research note on Wednesday, June 13th. ValuEngine upgraded Houlihan Lokey from a “hold” rating to a “buy” rating in a research note on Wednesday, May 2nd. Finally, Buckingham Research assumed 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. One analyst has rated the stock with a hold rating and seven have assigned a buy rating to the company. Houlihan Lokey currently has a consensus rating of “Buy” and an average price target of $50.50.
Houlihan Lokey Profile
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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