Geode Capital Management LLC Raises Stake in Houlihan Lokey, Inc. $HLI

Geode Capital Management LLC boosted its holdings in shares of Houlihan Lokey, Inc. (NYSE:HLI) by 6.4% in the fourth quarter, HoldingsChannel reports. The fund owned 1,418,549 shares of the financial services provider’s stock after acquiring an additional 84,757 shares during the period. Geode Capital Management LLC’s holdings in Houlihan Lokey were worth $247,133,000 as of its most recent SEC filing.

Other large investors also recently bought and sold shares of the company. Flagship Harbor Advisors LLC purchased a new position in Houlihan Lokey during the 4th quarter valued at about $26,000. Oakworth Capital Inc. purchased a new position in Houlihan Lokey during the 4th quarter valued at about $29,000. Westside Investment Management Inc. lifted its position in Houlihan Lokey by 64.4% during the 3rd quarter. Westside Investment Management Inc. now owns 148 shares of the financial services provider’s stock valued at $30,000 after acquiring an additional 58 shares during the period. Strategic Wealth Investment Group LLC purchased a new position in Houlihan Lokey in the second quarter worth about $39,000. Finally, Cornerstone Planning Group LLC raised its holdings in Houlihan Lokey by 179.2% in the third quarter. Cornerstone Planning Group LLC now owns 201 shares of the financial services provider’s stock worth $40,000 after buying an additional 129 shares during the last quarter. 78.07% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other news, General Counsel Christopher M. Crain sold 500 shares of Houlihan Lokey stock in a transaction that occurred on Wednesday, April 1st. The shares were sold at an average price of $143.40, for a total value of $71,700.00. Following the completion of the sale, the general counsel directly owned 500 shares in the company, valued at $71,700. The trade was a 50.00% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Chairman Scott L. Beiser sold 6,265 shares of Houlihan Lokey stock in a transaction that occurred on Thursday, May 21st. The stock was sold at an average price of $150.26, for a total transaction of $941,378.90. Following the completion of the sale, the chairman owned 6,265 shares of the company’s stock, valued at $941,378.90. This represents a 50.00% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders own 22.83% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages have issued reports on HLI. Zacks Research cut shares of Houlihan Lokey from a “hold” rating to a “strong sell” rating in a report on Wednesday, May 13th. Weiss Ratings cut shares of Houlihan Lokey from a “hold (c+)” rating to a “hold (c)” rating in a report on Tuesday, April 21st. The Goldman Sachs Group decreased their target price on shares of Houlihan Lokey from $210.00 to $184.00 and set a “buy” rating for the company in a report on Wednesday, April 1st. Morgan Stanley decreased their target price on shares of Houlihan Lokey from $205.00 to $193.00 and set an “overweight” rating for the company in a report on Thursday, April 9th. Finally, UBS Group set a $160.00 target price on shares of Houlihan Lokey in a report on Thursday, May 7th. Five equities research analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $191.29.

Houlihan Lokey Stock Performance

Shares of Houlihan Lokey stock opened at $139.21 on Wednesday. The stock has a market capitalization of $9.61 billion, a PE ratio of 22.38, a price-to-earnings-growth ratio of 1.09 and a beta of 0.95. Houlihan Lokey, Inc. has a 52-week low of $134.41 and a 52-week high of $211.78. The company has a 50-day simple moving average of $149.80 and a two-hundred day simple moving average of $164.01.

Houlihan Lokey (NYSE:HLI) last announced its quarterly earnings results on Wednesday, May 6th. The financial services provider reported $1.63 EPS for the quarter, missing analysts’ consensus estimates of $1.79 by ($0.16). Houlihan Lokey had a return on equity of 22.88% and a net margin of 16.26%.The company had revenue of $635.64 million during the quarter, compared to the consensus estimate of $679.22 million. During the same quarter in the prior year, the firm earned $1.96 earnings per share. The business’s revenue was down 4.6% compared to the same quarter last year. As a group, equities research analysts forecast that Houlihan Lokey, Inc. will post 8.54 EPS for the current fiscal year.

Houlihan Lokey Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, June 15th. Stockholders of record on Monday, June 1st will be paid a $0.70 dividend. This is a boost from Houlihan Lokey’s previous quarterly dividend of $0.60. This represents a $2.80 dividend on an annualized basis and a dividend yield of 2.0%. The ex-dividend date is Monday, June 1st. Houlihan Lokey’s dividend payout ratio (DPR) 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.