Houlihan Lokey, Inc. (HLI) Major Shareholder Sells $24,901,917.60 in Stock
Houlihan Lokey, Inc. (NYSE:HLI) major shareholder Orix Hlhz Holding Llc sold 686,760 shares of the company’s stock in a transaction dated Thursday, September 14th. The stock was sold at an average price of $36.26, for a total value of $24,901,917.60. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Major shareholders that own more than 10% of a company’s stock are required to disclose their transactions with the SEC.
Houlihan Lokey, Inc. (HLI) traded up 0.11% during trading on Thursday, hitting $36.51. The company had a trading volume of 394,230 shares. The stock has a market capitalization of $2.44 billion, a PE ratio of 18.93 and a beta of 0.34. The stock has a 50-day moving average of $36.03 and a 200-day moving average of $34.60. Houlihan Lokey, Inc. has a one year low of $23.19 and a one year high of $39.68.
Houlihan Lokey (NYSE:HLI) last posted its quarterly earnings results on Tuesday, July 25th. The financial services provider reported $0.50 EPS for the quarter, topping analysts’ consensus estimates of $0.44 by $0.06. Houlihan Lokey had a return on equity of 18.63% and a net margin of 14.10%. The business had revenue of $217.00 million during the quarter, compared to analysts’ expectations of $203.21 million. During the same quarter last year, the company posted $0.35 earnings per share. Houlihan Lokey’s quarterly revenue was up 19.9% on a year-over-year basis. On average, equities analysts anticipate that Houlihan Lokey, Inc. will post $2.04 EPS for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Friday, September 15th. Investors of record on Friday, September 1st will be issued a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a yield of 2.19%. The ex-dividend date is Wednesday, August 30th. Houlihan Lokey’s payout ratio is currently 41.67%.
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A number of institutional investors have recently bought and sold shares of HLI. Vanguard Group Inc. grew its holdings in Houlihan Lokey by 75.5% during the first quarter. Vanguard Group Inc. now owns 1,603,729 shares of the financial services provider’s stock worth $55,249,000 after purchasing an additional 690,029 shares during the period. Neuberger Berman Group LLC grew its holdings in Houlihan Lokey by 122.1% during the second quarter. Neuberger Berman Group LLC now owns 1,193,275 shares of the financial services provider’s stock worth $41,645,000 after purchasing an additional 655,940 shares during the period. Ameriprise Financial Inc. bought a new position in Houlihan Lokey during the first quarter worth about $22,102,000. Ariel Investments LLC grew its holdings in Houlihan Lokey by 49.9% during the first quarter. Ariel Investments LLC now owns 1,566,735 shares of the financial services provider’s stock worth $53,974,000 after purchasing an additional 521,765 shares during the period. Finally, Royce & Associates LP grew its holdings in Houlihan Lokey by 32.0% during the first quarter. Royce & Associates LP now owns 1,628,848 shares of the financial services provider’s stock worth $56,114,000 after purchasing an additional 395,001 shares during the period. Institutional investors and hedge funds own 32.18% of the company’s stock.
Several analysts have recently issued reports on the company. BidaskClub downgraded Houlihan Lokey from a “strong-buy” rating to a “buy” rating in a research note on Tuesday, July 25th. Keefe, Bruyette & Woods reiterated a “buy” rating and set a $38.00 price target on shares of Houlihan Lokey in a research note on Wednesday, June 14th. TheStreet upgraded Houlihan Lokey from a “c” rating to a “b-” rating in a research note on Monday, August 14th. UBS AG reiterated a “buy” rating and set a $42.00 price target (up previously from $40.00) on shares of Houlihan Lokey in a research note on Wednesday, July 26th. Finally, Zacks Investment Research upgraded Houlihan Lokey from a “sell” rating to a “hold” rating in a research note on Monday, July 3rd. Two analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. Houlihan Lokey has a consensus rating of “Buy” and a consensus target price of $39.83.
About Houlihan Lokey
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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