West Coast Financial LLC Sells 813 Shares of Houlihan Lokey, Inc. (NYSE:HLI)

West Coast Financial LLC trimmed its holdings in shares of Houlihan Lokey, Inc. (NYSE:HLI) by 3.6% in the third quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 22,011 shares of the financial services provider’s stock after selling 813 shares during the quarter. West Coast Financial LLC’s holdings in Houlihan Lokey were worth $3,478,000 as of its most recent filing with the SEC.

Several other hedge funds have also recently bought and sold shares of HLI. Opal Wealth Advisors LLC bought a new position in Houlihan Lokey during the 2nd quarter worth about $26,000. Crewe Advisors LLC lifted its stake in Houlihan Lokey by 264.5% in the 2nd quarter. Crewe Advisors LLC now owns 226 shares of the financial services provider’s stock valued at $30,000 after acquiring an additional 164 shares in the last quarter. Ashton Thomas Private Wealth LLC acquired a new position in Houlihan Lokey during the 2nd quarter worth approximately $38,000. Accent Capital Management LLC bought a new position in shares of Houlihan Lokey during the 4th quarter worth approximately $42,000. Finally, Benjamin F. Edwards & Company Inc. grew its stake in shares of Houlihan Lokey by 194.9% during 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 in the last quarter. 78.07% of the stock is currently owned by institutional investors and hedge funds.

Houlihan Lokey Stock Performance

Shares of HLI stock traded up $2.87 during trading on Friday, hitting $167.07. The company had a trading volume of 56,442 shares, compared to its average volume of 321,253. The stock’s 50-day moving average price is $154.60 and its 200 day moving average price is $140.95. Houlihan Lokey, Inc. has a one year low of $94.67 and a one year high of $167.64. The firm has a market capitalization of $11.62 billion, a P/E ratio of 36.41 and a beta of 0.66.

Houlihan Lokey (NYSE:HLI) last issued its quarterly earnings results on Tuesday, July 30th. The financial services provider reported $1.22 EPS for the quarter, hitting analysts’ consensus estimates of $1.22. Houlihan Lokey had a return on equity of 18.80% and a net margin of 15.30%. The company had revenue of $514.00 million for the quarter, compared to analysts’ expectations of $508.70 million. During the same quarter last year, the business earned $0.89 earnings per share. Houlihan Lokey’s revenue was up 23.6% on a year-over-year basis. On average, research analysts anticipate that Houlihan Lokey, Inc. will post 5.64 earnings per share for the current fiscal year.

Houlihan Lokey Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Sunday, September 15th. Investors of record on Tuesday, September 3rd were paid a $0.57 dividend. The ex-dividend date of this dividend was Tuesday, September 3rd. This represents a $2.28 dividend on an annualized basis and a yield of 1.36%. Houlihan Lokey’s dividend payout ratio (DPR) is 50.55%.

Insider Buying and Selling at Houlihan Lokey

In other news, Chairman Scott L. Beiser sold 8,317 shares of the business’s stock in a transaction on Friday, August 16th. The stock was sold at an average price of $151.89, for a total transaction of $1,263,269.13. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other news, Chairman Scott L. Beiser sold 8,317 shares of the company’s stock in a transaction on Friday, August 16th. The shares were sold at an average price of $151.89, for a total transaction of $1,263,269.13. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Gillian Beth Zucker sold 200 shares of the firm’s stock in a transaction on Friday, September 13th. The shares were sold at an average price of $152.28, for a total value of $30,456.00. Following the sale, the director now directly owns 6,801 shares in the company, valued at approximately $1,035,656.28. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 9,717 shares of company stock worth $1,479,513 over the last three months. Corporate insiders own 23.68% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts recently weighed in on HLI shares. Wells Fargo & Company assumed coverage on shares of Houlihan Lokey in a research report on Thursday, September 12th. They issued an “underweight” rating and a $149.00 target price for the company. Keefe, Bruyette & Woods reaffirmed a “market perform” rating and issued a $154.00 target price (up previously from $139.00) on shares of Houlihan Lokey in a research report on Wednesday, July 31st. JPMorgan Chase & Co. reduced their price target on Houlihan Lokey from $132.00 to $129.00 and set a “neutral” rating for the company in a research report on Wednesday, July 31st. UBS Group boosted their price target on Houlihan Lokey from $170.00 to $190.00 and gave the stock a “buy” rating in a research report on Tuesday. Finally, Morgan Stanley increased their price objective on Houlihan Lokey from $146.00 to $163.00 and gave the company an “equal weight” rating in a report on Monday, September 23rd. One research analyst has rated the stock with a sell rating, four have issued a hold rating and one has issued a buy rating to the stock. According to data from MarketBeat, Houlihan Lokey currently has a consensus rating of “Hold” and a consensus price target of $157.00.

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.