Houlihan Lokey, Inc. (NYSE:HLI) Shares Sold by HighTower Advisors LLC

HighTower Advisors LLC cut its position in Houlihan Lokey, Inc. (NYSE:HLI) by 6.9% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 257,910 shares of the financial services provider’s stock after selling 19,092 shares during the period. HighTower Advisors LLC’s holdings in Houlihan Lokey were worth $40,782,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also recently made changes to their positions in the company. Opal Wealth Advisors LLC acquired a new stake in shares of Houlihan Lokey in the second quarter worth approximately $26,000. Crewe Advisors LLC boosted its stake in shares of Houlihan Lokey by 264.5% in the second quarter. Crewe Advisors LLC now owns 226 shares of the financial services provider’s stock worth $30,000 after acquiring an additional 164 shares during the last quarter. Ashton Thomas Private Wealth LLC acquired a new stake in shares of Houlihan Lokey in the second quarter worth approximately $38,000. Wolff Wiese Magana LLC acquired a new stake in shares of Houlihan Lokey in the third quarter worth approximately $38,000. Finally, First Horizon Advisors Inc. lifted its position in Houlihan Lokey by 81.5% during the third quarter. First Horizon Advisors Inc. now owns 441 shares of the financial services provider’s stock worth $70,000 after buying an additional 198 shares in the last quarter. 78.07% of the stock is owned by institutional investors and hedge funds.

Houlihan Lokey Stock Down 0.2 %

NYSE:HLI opened at $185.22 on Thursday. Houlihan Lokey, Inc. has a 52 week low of $112.17 and a 52 week high of $192.10. The company has a market capitalization of $12.87 billion, a P/E ratio of 37.88 and a beta of 0.67. The stock’s fifty day moving average is $174.41 and its two-hundred day moving average is $154.33.

Houlihan Lokey (NYSE:HLI) last posted its earnings results on Wednesday, October 30th. The financial services provider reported $1.46 EPS for the quarter, beating analysts’ consensus estimates of $1.31 by $0.15. Houlihan Lokey had a return on equity of 19.29% and a net margin of 15.77%. The company had revenue of $574.96 million for the quarter, compared to the consensus estimate of $537.93 million. During the same quarter in the previous year, the business earned $1.11 earnings per share. The company’s revenue for the quarter was up 23.1% on a year-over-year basis. Sell-side analysts anticipate that Houlihan Lokey, Inc. will post 5.79 earnings per share for the current fiscal year.

Houlihan Lokey Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Sunday, December 15th. Investors of record on Monday, December 2nd will be issued a $0.57 dividend. The ex-dividend date is Monday, December 2nd. This represents a $2.28 annualized dividend and a dividend yield of 1.23%. Houlihan Lokey’s dividend payout ratio is presently 46.63%.

Wall Street Analysts Forecast Growth

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

Insider Activity at Houlihan Lokey

In related news, Director Gillian Beth Zucker sold 200 shares of the business’s stock in a transaction on Monday, October 14th. The stock was sold at an average price of $168.08, for a total value of $33,616.00. Following the sale, the director now owns 6,601 shares in the company, valued at approximately $1,109,496.08. The trade was a 2.94 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Company insiders own 23.68% of the company’s stock.

Houlihan Lokey Profile

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.