Envestnet Asset Management Inc. Trims Stock Position in Houlihan Lokey, Inc. (NYSE:HLI)

Envestnet Asset Management Inc. lessened its position in shares of Houlihan Lokey, Inc. (NYSE:HLI) by 4.7% during the 1st quarter, Holdings Channel reports. The institutional investor owned 495,239 shares of the financial services provider’s stock after selling 24,184 shares during the quarter. Envestnet Asset Management Inc.’s holdings in Houlihan Lokey were worth $79,981,000 at the end of the most recent quarter.

Several other institutional investors have also recently made changes to their positions in HLI. Thurston Springer Miller Herd & Titak Inc. purchased a new stake in shares of Houlihan Lokey during the 1st quarter valued at approximately $54,000. Versant Capital Management Inc raised its position in shares of Houlihan Lokey by 744.2% during the 1st quarter. Versant Capital Management Inc now owns 363 shares of the financial services provider’s stock valued at $59,000 after buying an additional 320 shares during the period. First Horizon Advisors Inc. raised its position in shares of Houlihan Lokey by 17.5% during the 1st quarter. First Horizon Advisors Inc. now owns 550 shares of the financial services provider’s stock valued at $89,000 after buying an additional 82 shares during the period. Golden State Wealth Management LLC raised its position in shares of Houlihan Lokey by 101.0% during the 1st quarter. Golden State Wealth Management LLC now owns 613 shares of the financial services provider’s stock valued at $99,000 after buying an additional 308 shares during the period. Finally, Kapitalo Investimentos Ltda purchased a new stake in shares of Houlihan Lokey during the 4th quarter valued at approximately $105,000. Hedge funds and other institutional investors own 78.07% of the company’s stock.

Wall Street Analyst Weigh In

HLI has been the topic of several analyst reports. Wall Street Zen lowered shares of Houlihan Lokey from a “buy” rating to a “hold” rating in a research report on Friday, June 27th. Wells Fargo & Company boosted their target price on Houlihan Lokey from $170.00 to $185.00 and gave the company an “overweight” rating in a research report on Thursday, May 8th. Keefe, Bruyette & Woods boosted their target price on Houlihan Lokey from $183.00 to $185.00 and gave the company a “market perform” rating in a research report on Monday, May 12th. Finally, Morgan Stanley reissued an “overweight” rating and issued a $192.00 target price (up previously from $159.00) on shares of Houlihan Lokey in a research report on Monday, June 23rd. Four equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Hold” and an average price target of $192.20.

Houlihan Lokey Stock Up 0.9%

Shares of NYSE HLI opened at $190.92 on Friday. The firm has a market cap of $13.32 billion, a price-to-earnings ratio of 32.80 and a beta of 0.83. Houlihan Lokey, Inc. has a 52-week low of $137.99 and a 52-week high of $192.44. The business’s 50 day moving average is $176.61 and its two-hundred day moving average is $170.74.

Houlihan Lokey (NYSE:HLI) last posted its quarterly earnings results on Wednesday, May 7th. The financial services provider reported $1.96 EPS for the quarter, topping the consensus estimate of $1.61 by $0.35. The business had revenue of $666.42 million during the quarter, compared to the consensus estimate of $628.25 million. Houlihan Lokey had a net margin of 16.73% and a return on equity of 21.61%. The company’s quarterly revenue was up 28.0% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $1.27 earnings per share. Analysts anticipate that Houlihan Lokey, Inc. will post 5.98 EPS for the current fiscal year.

Houlihan Lokey Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Sunday, June 15th. Shareholders of record on Monday, June 2nd were paid a $0.60 dividend. This is an increase from Houlihan Lokey’s previous quarterly dividend of $0.57. The ex-dividend date of this dividend was Monday, June 2nd. This represents a $2.40 annualized dividend and a dividend yield of 1.26%. Houlihan Lokey’s payout ratio is 41.24%.

Insiders Place Their Bets

In other Houlihan Lokey news, Chairman Irwin Gold sold 5,000 shares of the business’s stock in a transaction on Monday, June 30th. The shares were sold at an average price of $182.81, for a total value of $914,050.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, General Counsel Christopher M. Crain sold 500 shares of the business’s stock in a transaction on Monday, June 2nd. The stock was sold at an average price of $173.02, for a total transaction of $86,510.00. The disclosure for this sale can be found here. Insiders sold a total of 13,508 shares of company stock worth $2,431,670 over the last 90 days. Corporate insiders own 23.68% of the company’s stock.

Houlihan Lokey Company 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.