Handelsbanken Fonder AB Reduces Holdings in Houlihan Lokey, Inc. $HLI

Handelsbanken Fonder AB trimmed its stake in shares of Houlihan Lokey, Inc. (NYSE:HLI) by 15.7% during the 2nd quarter, Holdings Channel.com reports. The fund owned 219,632 shares of the financial services provider’s stock after selling 40,926 shares during the quarter. Handelsbanken Fonder AB’s holdings in Houlihan Lokey were worth $29,459,000 at the end of the most recent quarter.

A number of other large investors have also bought and sold shares of the stock. Flagship Harbor Advisors LLC bought a new stake in Houlihan Lokey in the fourth quarter valued at approximately $26,000. Oakworth Capital Inc. bought a new position in shares of Houlihan Lokey in the fourth quarter worth approximately $29,000. Core Wealth Advisors LLC purchased a new position in shares of Houlihan Lokey in the fourth quarter worth $32,000. Eurizon Capital SGR S.p.A. bought a new stake in Houlihan Lokey during the 4th quarter valued at $33,000. Finally, Annis Gardner Whiting Capital Advisors LLC boosted its position in Houlihan Lokey by 103.4% during the 1st quarter. Annis Gardner Whiting Capital Advisors LLC now owns 236 shares of the financial services provider’s stock valued at $34,000 after buying an additional 120 shares during the period. 78.07% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In related news, Chairman Scott L. Beiser sold 6,265 shares of the company’s stock in a transaction on Thursday, May 21st. The stock was sold at an average price of $150.26, for a total value of $941,378.90. Following the sale, the chairman directly 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 22.53% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

A number of brokerages have issued reports on HLI. Wall Street Zen lowered shares of Houlihan Lokey from a “hold” rating to a “sell” rating in a report on Saturday. Bank of America initiated coverage on shares of Houlihan Lokey in a report on Friday, July 10th. They set a “buy” rating and a $164.00 target price for the company. The Goldman Sachs Group cut their target price on Houlihan Lokey from $171.00 to $148.00 and set a “buy” rating on the stock in a research note on Thursday, July 30th. BMO Capital Markets lowered their price target on Houlihan Lokey from $160.00 to $145.00 and set an “outperform” rating for the company in a research report on Monday, August 3rd. Finally, Weiss Ratings reiterated a “hold (c)” rating on shares of Houlihan Lokey in a report on Friday, July 17th. Five investment analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company. According to MarketBeat.com, Houlihan Lokey presently has an average rating of “Moderate Buy” and a consensus price target of $166.38.

Houlihan Lokey Price Performance

HLI stock opened at $125.45 on Wednesday. Houlihan Lokey, Inc. has a 1 year low of $112.83 and a 1 year high of $211.78. The firm has a 50-day moving average of $136.82 and a 200 day moving average of $148.92. The company has a market cap of $8.66 billion, a P/E ratio of 21.08, a PEG ratio of 1.38 and a beta of 0.95.

Houlihan Lokey (NYSE:HLI) last posted its earnings results on Wednesday, July 29th. The financial services provider reported $1.35 earnings per share for the quarter, missing analysts’ consensus estimates of $1.64 by ($0.29). Houlihan Lokey had a return on equity of 20.20% and a net margin of 16.10%.The firm had revenue of $511.00 million for the quarter, compared to analysts’ expectations of $602.38 million. During the same quarter last year, the company posted $2.14 EPS. The firm’s revenue was down 15.6% on a year-over-year basis. On average, equities research analysts expect that Houlihan Lokey, Inc. will post 7.13 earnings per share for the current fiscal year.

Houlihan Lokey Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, September 15th. Investors of record on Tuesday, September 1st will be given a dividend of $0.70 per share. The ex-dividend date is Tuesday, September 1st. This represents a $2.80 annualized dividend and a dividend yield of 2.2%. Houlihan Lokey’s payout ratio is currently 47.06%.

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.