Bank of New York Mellon Corp Has $60.41 Million Stake in Houlihan Lokey, Inc. $HLI

Bank of New York Mellon Corp reduced its stake in Houlihan Lokey, Inc. (NYSE:HLI) by 0.9% in the 1st quarter, Holdings Channel reports. The firm owned 420,646 shares of the financial services provider’s stock after selling 3,607 shares during the period. Bank of New York Mellon Corp’s holdings in Houlihan Lokey were worth $60,413,000 as of its most recent filing with the SEC.

A number of other large investors have also recently added to or reduced their stakes in the stock. Royal Bank of Canada raised its holdings in Houlihan Lokey by 362.1% in the 4th quarter. Royal Bank of Canada now owns 1,703,369 shares of the financial services provider’s stock worth $296,706,000 after acquiring an additional 1,334,769 shares during the period. Bank of Montreal Can lifted its position in shares of Houlihan Lokey by 2,723.2% during the 4th quarter. Bank of Montreal Can now owns 1,199,459 shares of the financial services provider’s stock worth $208,934,000 after purchasing an additional 1,156,973 shares during the last quarter. Norges Bank acquired a new position in shares of Houlihan Lokey during the 4th quarter worth about $115,478,000. Vaughan Nelson Investment Management L.P. bought a new stake in Houlihan Lokey during the 1st quarter valued at approximately $35,728,000. Finally, Qube Research & Technologies Ltd boosted its stake in Houlihan Lokey by 153.8% during the 2nd quarter. Qube Research & Technologies Ltd now owns 274,387 shares of the financial services provider’s stock valued at $49,376,000 after purchasing an additional 166,285 shares during the period. Institutional investors own 78.07% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts have issued reports on the company. US Capital Advisors set a $187.00 target price on Houlihan Lokey in a report on Thursday, July 9th. Wolfe Research raised Houlihan Lokey from an “underperform” rating to a “peer perform” rating in a research report on Thursday, July 9th. Keefe, Bruyette & Woods lowered their price objective on shares of Houlihan Lokey from $172.00 to $160.00 and set an “outperform” rating on the stock in a research note on Friday, July 10th. Bank of America initiated coverage on shares of Houlihan Lokey in a research report on Friday, July 10th. They set a “buy” rating and a $164.00 target price on the stock. Finally, Weiss Ratings reiterated a “hold (c)” rating on shares of Houlihan Lokey in a research note on Friday, July 17th. Five research analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company. Based on data from MarketBeat, Houlihan Lokey has an average rating of “Moderate Buy” and an average target price of $180.50.

Insider Transactions at Houlihan Lokey

In other news, Chairman Scott L. Beiser sold 6,265 shares of the stock in a transaction on Thursday, May 21st. The shares were sold at an average price of $150.26, for a total value of $941,378.90. Following the completion of the transaction, the chairman owned 6,265 shares in the company, valued at approximately $941,378.90. This represents a 50.00% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. 22.83% of the stock is owned by company insiders.

Houlihan Lokey Stock Down 0.6%

Houlihan Lokey stock opened at $139.10 on Thursday. The business has a 50 day moving average price of $141.32 and a two-hundred day moving average price of $154.14. The stock has a market cap of $9.61 billion, a price-to-earnings ratio of 22.36, a price-to-earnings-growth ratio of 1.19 and a beta of 0.95. Houlihan Lokey, Inc. has a 12 month low of $130.72 and a 12 month high of $211.78.

Houlihan Lokey (NYSE:HLI) last announced its quarterly earnings data on Wednesday, May 6th. The financial services provider reported $1.63 earnings per share for the quarter, missing the consensus estimate of $1.79 by ($0.16). The firm had revenue of $635.64 million for the quarter, compared to analyst estimates of $679.22 million. Houlihan Lokey had a return on equity of 22.88% and a net margin of 16.26%.Houlihan Lokey’s revenue for the quarter was down 4.6% compared to the same quarter last year. During the same period in the previous year, the business posted $1.96 EPS. On average, analysts expect that Houlihan Lokey, Inc. will post 7.91 earnings per share for the current fiscal year.

Houlihan Lokey Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, June 15th. Shareholders of record on Monday, June 1st were issued a $0.70 dividend. This is a boost from Houlihan Lokey’s previous quarterly dividend of $0.60. The ex-dividend date of this dividend was Monday, June 1st. This represents a $2.80 annualized dividend and a yield of 2.0%. Houlihan Lokey’s payout ratio is presently 45.02%.

Houlihan Lokey Company Profile

Houlihan Lokey, Inc is a global investment bank and financial services firm founded in 1972 and headquartered in Los Angeles, California. The company specializes in advisory services across a broad range of transaction types and financial matters. Since its founding, Houlihan Lokey has grown to serve corporations, financial sponsors, and government entities worldwide, providing expertise in complex and high-stakes engagements.

The firm’s core service offerings include mergers and acquisitions advisory, capital markets advisory, financial restructuring and distressed M&A, and valuation and fairness opinions.