Federated Hermes Inc. Takes $581,000 Position in Houlihan Lokey, Inc. (NYSE:HLI)

Federated Hermes Inc. bought a new position in shares of Houlihan Lokey, Inc. (NYSE:HLI) during the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor bought 4,846 shares of the financial services provider’s stock, valued at approximately $581,000.

Other hedge funds also recently modified their holdings of the company. Wellington Management Group LLP increased its holdings in Houlihan Lokey by 56.1% in the 3rd quarter. Wellington Management Group LLP now owns 2,723,687 shares of the financial services provider’s stock valued at $291,761,000 after buying an additional 978,776 shares during the period. FMR LLC increased its stake in Houlihan Lokey by 69.9% in the third quarter. FMR LLC now owns 1,507,610 shares of the financial services provider’s stock valued at $161,495,000 after acquiring an additional 620,182 shares during the last quarter. HighTower Advisors LLC raised its position in Houlihan Lokey by 1,044.5% during the third quarter. HighTower Advisors LLC now owns 284,957 shares of the financial services provider’s stock valued at $30,505,000 after purchasing an additional 260,060 shares in the last quarter. Envestnet Asset Management Inc. raised its position in Houlihan Lokey by 77.0% during the third quarter. Envestnet Asset Management Inc. now owns 470,177 shares of the financial services provider’s stock valued at $50,365,000 after purchasing an additional 204,583 shares in the last quarter. Finally, Eventide Asset Management LLC bought a new stake in Houlihan Lokey during the third quarter worth $16,029,000. Institutional investors own 78.07% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts have recently commented on HLI shares. Keefe, Bruyette & Woods reissued a “market perform” rating and set a $127.00 price target on shares of Houlihan Lokey in a report on Monday, January 29th. UBS Group increased their target price on shares of Houlihan Lokey from $136.00 to $142.00 and gave the stock a “buy” rating in a report on Friday, February 2nd. Finally, JMP Securities reaffirmed a “market perform” rating on shares of Houlihan Lokey in a report on Tuesday, April 9th.

Houlihan Lokey Stock Up 1.1 %

Shares of HLI stock opened at $131.93 on Friday. Houlihan Lokey, Inc. has a twelve month low of $84.89 and a twelve month high of $133.80. The stock’s fifty day simple moving average is $126.78 and its 200 day simple moving average is $118.67. The firm has a market capitalization of $9.12 billion, a P/E ratio of 32.74 and a beta of 0.67.

Houlihan Lokey (NYSE:HLI) last released its quarterly earnings results on Thursday, February 1st. The financial services provider reported $1.22 earnings per share for the quarter, topping the consensus estimate of $1.12 by $0.10. The company had revenue of $511.30 million for the quarter, compared to analysts’ expectations of $493.02 million. Houlihan Lokey had a return on equity of 18.06% and a net margin of 14.90%. The business’s quarterly revenue was up 12.0% compared to the same quarter last year. During the same period in the previous year, the business posted $1.14 earnings per share. As a group, equities research analysts expect that Houlihan Lokey, Inc. will post 4.42 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, General Counsel Christopher M. Crain sold 1,000 shares of the firm’s stock in a transaction on Friday, March 1st. The shares were sold at an average price of $128.94, for a total transaction of $128,940.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 25.97% of the company’s stock.

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.