Bank of Nova Scotia Buys 62,144 Shares of Houlihan Lokey, Inc. $HLI

Bank of Nova Scotia lifted its stake in shares of Houlihan Lokey, Inc. (NYSE:HLI) by 1,351.3% during the second quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 66,743 shares of the financial services provider’s stock after acquiring an additional 62,144 shares during the period. Bank of Nova Scotia’s holdings in Houlihan Lokey were worth $12,010,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of HLI. Brooklyn Investment Group bought a new stake in Houlihan Lokey in the first quarter valued at $33,000. Trust Co. of Toledo NA OH acquired a new stake in shares of Houlihan Lokey in the 2nd quarter valued at about $34,000. Caitong International Asset Management Co. Ltd increased its position in Houlihan Lokey by 3,714.3% in the 1st quarter. Caitong International Asset Management Co. Ltd now owns 267 shares of the financial services provider’s stock valued at $43,000 after buying an additional 260 shares in the last quarter. MAI Capital Management increased its position in Houlihan Lokey by 268.0% in the 2nd quarter. MAI Capital Management now owns 368 shares of the financial services provider’s stock valued at $66,000 after buying an additional 268 shares in the last quarter. Finally, BI Asset Management Fondsmaeglerselskab A S acquired a new position in Houlihan Lokey during the 1st quarter worth approximately $81,000. 78.07% of the stock is owned by institutional investors.

Houlihan Lokey Price Performance

NYSE HLI opened at $180.50 on Thursday. Houlihan Lokey, Inc. has a 1 year low of $137.99 and a 1 year high of $211.78. The firm has a market cap of $12.65 billion, a price-to-earnings ratio of 29.11 and a beta of 0.95. The company has a fifty day moving average price of $184.86 and a 200-day moving average price of $188.41.

Houlihan Lokey (NYSE:HLI) last released its quarterly earnings results on Thursday, October 30th. The financial services provider reported $1.84 earnings per share for the quarter, beating analysts’ consensus estimates of $1.69 by $0.15. Houlihan Lokey had a net margin of 16.62% and a return on equity of 24.17%. The company had revenue of $659.45 million for the quarter, compared to analyst estimates of $639.08 million. During the same period last year, the firm earned $1.46 earnings per share. The firm’s revenue was up 14.7% on a year-over-year basis. On average, research analysts anticipate that Houlihan Lokey, Inc. will post 5.98 EPS for the current fiscal year.

Houlihan Lokey Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, December 15th. Stockholders of record on Monday, December 1st will be paid a $0.60 dividend. This represents a $2.40 dividend on an annualized basis and a dividend yield of 1.3%. The ex-dividend date is Monday, December 1st. Houlihan Lokey’s payout ratio is presently 38.71%.

Insider Buying and Selling at Houlihan Lokey

In other news, Chairman Irwin Gold sold 6,811 shares of the company’s stock in a transaction that occurred on Tuesday, September 16th. The stock was sold at an average price of $202.75, for a total value of $1,380,930.25. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 22.83% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

HLI has been the subject of a number of research reports. BMO Capital Markets initiated coverage on Houlihan Lokey in a research note on Friday, October 3rd. They issued an “outperform” rating and a $230.00 price objective for the company. Keefe, Bruyette & Woods cut their target price on Houlihan Lokey from $232.00 to $226.00 and set a “moderate buy” rating on the stock in a report on Monday, October 13th. Deutsche Bank Aktiengesellschaft assumed coverage on shares of Houlihan Lokey in a research note on Thursday, October 9th. They set a “hold” rating and a $210.00 price target for the company. Morgan Stanley raised their price objective on shares of Houlihan Lokey from $192.00 to $213.00 and gave the company an “overweight” rating in a research note on Monday, September 8th. Finally, Zacks Research cut shares of Houlihan Lokey from a “strong-buy” rating to a “hold” rating in a report on Monday, September 29th. One analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating and four have given a Hold rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $212.43.

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.