Mendon Capital Advisors Corp cut its position in shares of Houlihan Lokey, Inc. (NYSE:HLI) by 18.4% during the first quarter, according to its most recent 13F filing with the SEC. The fund owned 154,982 shares of the financial services provider’s stock after selling 34,913 shares during the period. Mendon Capital Advisors Corp owned 0.23% of Houlihan Lokey worth $5,339,000 at the end of the most recent reporting period.
A number of other hedge funds have also bought and sold shares of the stock. Victory Capital Management Inc. boosted its stake in Houlihan Lokey by 9.1% in the first quarter. Victory Capital Management Inc. now owns 4,590 shares of the financial services provider’s stock worth $158,000 after buying an additional 381 shares in the last quarter. Legal & General Group Plc boosted its stake in Houlihan Lokey by 37.8% in the first quarter. Legal & General Group Plc now owns 4,628 shares of the financial services provider’s stock worth $159,000 after buying an additional 1,270 shares during the period. O Shaughnessy Asset Management LLC purchased a new stake in Houlihan Lokey during the first quarter worth approximately $182,000. Trexquant Investment LP purchased a new stake in Houlihan Lokey during the fourth quarter worth approximately $214,000. Finally, American International Group Inc. boosted its stake in Houlihan Lokey by 7.1% in the first quarter. American International Group Inc. now owns 7,512 shares of the financial services provider’s stock worth $259,000 after buying an additional 497 shares during the period. Institutional investors own 33.11% of the company’s stock.
Shares of Houlihan Lokey, Inc. (NYSE:HLI) traded up 1.78% during midday trading on Monday, reaching $34.90. The company’s stock had a trading volume of 242,283 shares. The company has a market capitalization of $2.30 billion, a P/E ratio of 21.41 and a beta of 0.30. Houlihan Lokey, Inc. has a 1-year low of $20.96 and a 1-year high of $36.65. The stock has a 50 day moving average of $34.06 and a 200-day moving average of $32.41.
Houlihan Lokey (NYSE:HLI) last issued its quarterly earnings results on Tuesday, May 9th. The financial services provider reported $0.59 EPS for the quarter, topping the consensus estimate of $0.45 by $0.14. The company had revenue of $257.10 million during the quarter, compared to analysts’ expectations of $207.02 million. Houlihan Lokey had a net margin of 12.42% and a return on equity of 17.83%. Houlihan Lokey’s revenue was up 40.0% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.43 EPS. On average, equities research analysts anticipate that Houlihan Lokey, Inc. will post $1.94 earnings per share for the current year.
The company also recently disclosed a quarterly dividend, which was paid on Thursday, June 15th. Investors of record on Friday, June 2nd were issued a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a yield of 2.29%. The ex-dividend date was Wednesday, May 31st. Houlihan Lokey’s dividend payout ratio is currently 49.38%.
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A number of analysts have recently commented on the company. Keefe, Bruyette & Woods reiterated a “buy” rating and set a $38.00 target price on shares of Houlihan Lokey in a research report on Wednesday, June 14th. Bank of America Corporation lowered Houlihan Lokey from a “buy” rating to a “neutral” rating and raised their price target for the stock from $36.00 to $38.00 in a report on Thursday, May 11th. They noted that the move was a valuation call. Zacks Investment Research lowered Houlihan Lokey from a “hold” rating to a “sell” rating in a report on Tuesday, April 18th. Finally, JMP Securities reissued an “outperform” rating and set a $36.00 price target (up previously from $34.00) on shares of Houlihan Lokey in a report on Friday, April 7th. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and two have issued a buy rating to the company. The company presently has a consensus rating of “Hold” and an average target price of $37.00.
About Houlihan Lokey
Houlihan Lokey, Inc is a global independent investment bank that focuses on mergers and acquisitions (M&A), financings, financial restructurings and financial advisory services. The Company operates through three segments: Corporate Finance, Financial Restructuring and Financial Advisory Services. The Company serves a set of clients across the world, including corporations, financial sponsors and government agencies.
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