Whittier Trust Co. of Nevada Inc. Grows Stake in Houlihan Lokey, Inc. (NYSE:HLI)

Whittier Trust Co. of Nevada Inc. grew its stake in shares of Houlihan Lokey, Inc. (NYSE:HLI) by 3.9% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 31,871 shares of the financial services provider’s stock after acquiring an additional 1,185 shares during the quarter. Whittier Trust Co. of Nevada Inc.’s holdings in Houlihan Lokey were worth $4,298,000 as of its most recent SEC filing.

Several other large investors have also recently modified their holdings of HLI. Opal Wealth Advisors LLC purchased a new position in Houlihan Lokey in the second quarter worth about $26,000. Accent Capital Management LLC bought a new stake in shares of Houlihan Lokey during the fourth quarter valued at approximately $42,000. Benjamin F. Edwards & Company Inc. raised its holdings in Houlihan Lokey by 194.9% in the 1st quarter. Benjamin F. Edwards & Company Inc. now owns 401 shares of the financial services provider’s stock worth $52,000 after acquiring an additional 265 shares during the last quarter. Mather Group LLC. bought a new position in Houlihan Lokey in the 1st quarter valued at approximately $74,000. Finally, Principal Securities Inc. purchased a new stake in Houlihan Lokey during the 4th quarter valued at $82,000. Hedge funds and other institutional investors own 78.07% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts have recently weighed in on HLI shares. JPMorgan Chase & Co. decreased their price target on Houlihan Lokey from $132.00 to $129.00 and set a “neutral” rating for the company in a research note on Wednesday, July 31st. Keefe, Bruyette & Woods restated a “market perform” rating and set a $154.00 target price (up previously from $139.00) on shares of Houlihan Lokey in a research note on Wednesday, July 31st. Morgan Stanley raised their price target on shares of Houlihan Lokey from $131.00 to $148.00 and gave the company an “equal weight” rating in a report on Tuesday, July 23rd. Finally, UBS Group boosted their price objective on shares of Houlihan Lokey from $157.00 to $170.00 and gave the company a “buy” rating in a report on Wednesday, July 31st. Five equities research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Hold” and an average target price of $150.25.

Insider Buying and Selling at Houlihan Lokey

In other news, Chairman Scott L. Beiser sold 8,317 shares of the firm’s stock in a transaction dated Friday, August 16th. The stock was sold at an average price of $151.89, for a total value of $1,263,269.13. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. In other Houlihan Lokey news, insider David A. Preiser sold 20,000 shares of the firm’s stock in a transaction dated Tuesday, June 4th. The stock was sold at an average price of $133.21, for a total transaction of $2,664,200.00. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Chairman Scott L. Beiser sold 8,317 shares of the business’s stock in a transaction dated Friday, August 16th. The shares were sold at an average price of $151.89, for a total value of $1,263,269.13. The disclosure for this sale can be found here. Over the last quarter, insiders sold 38,419 shares of company stock valued at $5,297,213. Company insiders own 25.97% of the company’s stock.

Houlihan Lokey Stock Up 0.7 %

NYSE:HLI traded up $1.07 on Thursday, hitting $155.26. The stock had a trading volume of 50,522 shares, compared to its average volume of 328,225. The business’s 50-day simple moving average is $143.92 and its two-hundred day simple moving average is $134.51. The stock has a market cap of $10.65 billion, a price-to-earnings ratio of 37.51 and a beta of 0.67. Houlihan Lokey, Inc. has a 52-week low of $94.67 and a 52-week high of $157.58.

Houlihan Lokey (NYSE:HLI) last announced its earnings results on Tuesday, July 30th. The financial services provider reported $1.22 EPS for the quarter, meeting analysts’ consensus estimates of $1.22. The business had revenue of $514.00 million during the quarter, compared to analysts’ expectations of $508.70 million. Houlihan Lokey had a net margin of 15.30% and a return on equity of 18.80%. The firm’s revenue was up 23.6% on a year-over-year basis. During the same period in the prior year, the company earned $0.89 earnings per share. As a group, equities research analysts anticipate that Houlihan Lokey, Inc. will post 5.67 EPS for the current year.

Houlihan Lokey Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Sunday, September 15th. Investors of record on Tuesday, September 3rd will be given a dividend of $0.57 per share. The ex-dividend date of this dividend is Tuesday, September 3rd. This represents a $2.28 annualized dividend and a yield of 1.47%. Houlihan Lokey’s dividend payout ratio (DPR) is presently 55.47%.

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.