Daiwa Securities Group Inc. Reduces Stake in Houlihan Lokey, Inc. (NYSE:HLI)

Daiwa Securities Group Inc. cut its holdings in shares of Houlihan Lokey, Inc. (NYSE:HLI) by 3.5% in the third quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 19,493 shares of the financial services provider’s stock after selling 713 shares during the quarter. Daiwa Securities Group Inc.’s holdings in Houlihan Lokey were worth $3,080,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also bought and sold shares of the company. Opal Wealth Advisors LLC purchased a new position in shares of Houlihan Lokey during the 2nd quarter valued at about $26,000. Crewe Advisors LLC lifted its holdings in Houlihan Lokey by 264.5% in the second 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 during the period. Ashton Thomas Private Wealth LLC purchased a new stake in Houlihan Lokey in the 2nd quarter worth approximately $38,000. Wolff Wiese Magana LLC acquired a new stake in shares of Houlihan Lokey during the 3rd quarter worth approximately $38,000. Finally, First Horizon Advisors Inc. increased its holdings in shares of Houlihan Lokey by 81.5% during the 3rd quarter. First Horizon Advisors Inc. now owns 441 shares of the financial services provider’s stock valued at $70,000 after purchasing an additional 198 shares in the last quarter. 78.07% of the stock is currently owned by institutional investors and hedge funds.

Houlihan Lokey Price Performance

NYSE:HLI opened at $187.43 on Thursday. The company’s 50-day moving average is $171.61 and its two-hundred day moving average is $152.50. The firm has a market capitalization of $13.03 billion, a price-to-earnings ratio of 38.69 and a beta of 0.65. Houlihan Lokey, Inc. has a 1-year low of $104.86 and a 1-year high of $192.10.

Houlihan Lokey (NYSE:HLI) last released its quarterly earnings data on Wednesday, October 30th. The financial services provider reported $1.46 EPS for the quarter, beating analysts’ consensus estimates of $1.31 by $0.15. The firm had revenue of $574.96 million for the quarter, compared to analysts’ expectations of $537.93 million. Houlihan Lokey had a return on equity of 19.29% and a net margin of 15.77%. The firm’s quarterly revenue was up 23.1% on a year-over-year basis. During the same period in the prior year, the firm posted $1.11 earnings per share. As a group, equities analysts anticipate that Houlihan Lokey, Inc. will post 5.79 earnings per share for the current fiscal year.

Houlihan Lokey Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Sunday, December 15th. Investors of record on Monday, December 2nd will be issued a $0.57 dividend. The ex-dividend date is Monday, December 2nd. This represents a $2.28 annualized dividend and a yield of 1.22%. Houlihan Lokey’s dividend payout ratio (DPR) is currently 46.63%.

Insider Activity at Houlihan Lokey

In other news, Director Gillian Beth Zucker sold 200 shares of the firm’s stock in a transaction on Friday, September 13th. The stock was sold at an average price of $152.28, for a total transaction of $30,456.00. Following the completion of the transaction, the director now directly owns 6,801 shares in the company, valued at $1,035,656.28. This trade represents a 2.86 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, General Counsel Christopher M. Crain sold 1,000 shares of the business’s stock in a transaction on Tuesday, September 3rd. The shares were sold at an average price of $155.29, for a total value of $155,290.00. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 1,400 shares of company stock worth $219,362. Company insiders own 23.68% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts recently issued reports on the stock. JPMorgan Chase & Co. lowered their price target on shares of Houlihan Lokey from $132.00 to $129.00 and set a “neutral” rating on the stock in a report on Wednesday, July 31st. Keefe, Bruyette & Woods restated a “market perform” rating and set a $154.00 target price (up from $139.00) on shares of Houlihan Lokey in a research report on Wednesday, July 31st. Morgan Stanley upped their price target on Houlihan Lokey from $146.00 to $163.00 and gave the stock an “equal weight” rating in a report on Monday, September 23rd. Wells Fargo & Company began coverage on Houlihan Lokey in a report on Thursday, September 12th. They issued an “underweight” rating and a $149.00 price objective on the stock. Finally, UBS Group boosted their target price on shares of Houlihan Lokey from $170.00 to $190.00 and gave the stock a “buy” rating in a research note on Tuesday, October 8th. One research analyst has rated the stock with a sell rating, five have given a hold rating and one has given a buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $157.00.

Houlihan Lokey Profile

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.