Fmr LLC Sells 2,841 Shares of Houlihan Lokey, Inc. (NYSE:HLI)

Fmr LLC cut its stake in Houlihan Lokey, Inc. (NYSE:HLI) by 0.2% in the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 1,713,573 shares of the financial services provider’s stock after selling 2,841 shares during the quarter. Fmr LLC owned 2.46% of Houlihan Lokey worth $270,779,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors also recently modified their holdings of the company. Earnest Partners LLC boosted its holdings in Houlihan Lokey by 1.9% during the second quarter. Earnest Partners LLC now owns 3,273,818 shares of the financial services provider’s stock worth $441,507,000 after purchasing an additional 62,314 shares during the last quarter. Kayne Anderson Rudnick Investment Management LLC lifted its position in shares of Houlihan Lokey by 1.3% during the 2nd quarter. Kayne Anderson Rudnick Investment Management LLC now owns 3,087,898 shares of the financial services provider’s stock worth $416,434,000 after buying an additional 38,155 shares in the last quarter. Sei Investments Co. boosted its stake in shares of Houlihan Lokey by 6.2% in the 2nd quarter. Sei Investments Co. now owns 776,335 shares of the financial services provider’s stock worth $104,697,000 after buying an additional 45,205 shares during the last quarter. Eagle Asset Management Inc. grew its holdings in shares of Houlihan Lokey by 23.6% in the third quarter. Eagle Asset Management Inc. now owns 693,109 shares of the financial services provider’s stock valued at $109,525,000 after acquiring an additional 132,516 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. increased its position in shares of Houlihan Lokey by 33.0% during the third quarter. Charles Schwab Investment Management Inc. now owns 601,025 shares of the financial services provider’s stock valued at $94,974,000 after acquiring an additional 149,114 shares during the last quarter. Institutional investors own 78.07% of the company’s stock.

Insider Buying and Selling

In related news, Director Gillian Beth Zucker sold 200 shares of the company’s stock in a transaction that occurred on Friday, September 13th. The shares were sold at an average price of $152.28, for a total transaction of $30,456.00. Following the sale, the director now owns 6,801 shares of the company’s stock, valued at approximately $1,035,656.28. This represents a 2.86 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, General Counsel Christopher M. Crain sold 1,000 shares of the firm’s stock in a transaction on Tuesday, September 3rd. The shares were sold at an average price of $155.29, for a total transaction of $155,290.00. The disclosure for this sale can be found here. In the last quarter, insiders have sold 1,400 shares of company stock valued at $219,362. Corporate insiders own 23.68% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts have issued reports on the company. UBS Group upped their price objective on Houlihan Lokey from $170.00 to $190.00 and gave the company a “buy” rating in a research note on Tuesday, October 8th. Morgan Stanley lifted their price objective on shares of Houlihan Lokey from $146.00 to $163.00 and gave the stock an “equal weight” rating in a research report on Monday, September 23rd. Wells Fargo & Company began coverage on shares of Houlihan Lokey in a research note on Thursday, September 12th. They issued an “underweight” rating and a $149.00 target price on the stock. Finally, StockNews.com lowered shares of Houlihan Lokey from a “buy” rating to a “hold” rating in a research note on Wednesday, November 20th. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and one has issued a buy rating to the stock. Based on data from MarketBeat, Houlihan Lokey presently has a consensus rating of “Hold” and an average price target of $157.00.

Houlihan Lokey Stock Up 0.9 %

Shares of NYSE:HLI opened at $189.09 on Monday. The company has a 50-day moving average price of $173.43 and a two-hundred day moving average price of $153.47. Houlihan Lokey, Inc. has a twelve month low of $105.34 and a twelve month high of $192.10. The firm has a market capitalization of $13.14 billion, a PE ratio of 38.67 and a beta of 0.65.

Houlihan Lokey (NYSE:HLI) last released its quarterly earnings data on Wednesday, October 30th. The financial services provider reported $1.46 EPS for the quarter, topping the consensus estimate of $1.31 by $0.15. Houlihan Lokey had a net margin of 15.77% and a return on equity of 19.29%. The company had revenue of $574.96 million during the quarter, compared to the consensus estimate of $537.93 million. During the same period last year, the firm earned $1.11 EPS. Houlihan Lokey’s revenue for the quarter was up 23.1% on a year-over-year basis. Analysts anticipate that Houlihan Lokey, Inc. will post 5.82 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 paid a dividend of $0.57 per share. The ex-dividend date is Monday, December 2nd. This represents a $2.28 dividend on an annualized basis and a dividend yield of 1.21%. Houlihan Lokey’s payout ratio is 46.63%.

About Houlihan Lokey

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.