Houlihan Lokey, Inc. $HLI Shares Sold by Envestnet Portfolio Solutions Inc.

Envestnet Portfolio Solutions Inc. decreased its holdings in Houlihan Lokey, Inc. (NYSE:HLI) by 8.2% in the second quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 8,414 shares of the financial services provider’s stock after selling 747 shares during the quarter. Envestnet Portfolio Solutions Inc.’s holdings in Houlihan Lokey were worth $1,514,000 at the end of the most recent reporting period.

A number of other large investors also recently bought and sold shares of the business. Sequoia Financial Advisors LLC acquired a new position in Houlihan Lokey in the 2nd quarter worth about $883,000. Vanguard Personalized Indexing Management LLC raised its holdings in Houlihan Lokey by 18.7% in the 2nd quarter. Vanguard Personalized Indexing Management LLC now owns 8,940 shares of the financial services provider’s stock worth $1,609,000 after purchasing an additional 1,408 shares during the period. Johnson Investment Counsel Inc. acquired a new position in Houlihan Lokey in the 2nd quarter worth about $212,000. Trust Co. of Toledo NA OH acquired a new position in Houlihan Lokey in the 2nd quarter worth about $34,000. Finally, Inspire Investing LLC acquired a new position in Houlihan Lokey in the 2nd quarter worth about $879,000. Institutional investors and hedge funds own 78.07% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts have commented on the company. Weiss Ratings reissued a “buy (b-)” rating on shares of Houlihan Lokey in a report on Wednesday, October 8th. Wells Fargo & Company increased their target price on Houlihan Lokey from $185.00 to $209.00 and gave the company an “overweight” rating in a report on Friday, July 11th. Morgan Stanley increased their target price on Houlihan Lokey from $192.00 to $213.00 and gave the company an “overweight” rating in a report on Monday, September 8th. Deutsche Bank Aktiengesellschaft assumed coverage on Houlihan Lokey in a report on Thursday, October 9th. They set a “hold” rating and a $210.00 target price for the company. Finally, Keefe, Bruyette & Woods reduced their target price on Houlihan Lokey from $232.00 to $226.00 and set a “moderate buy” rating for the company in a report on Monday, October 13th. One analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating and four have assigned a Hold rating to the company. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $212.43.

Houlihan Lokey Stock Performance

Shares of Houlihan Lokey stock opened at $190.36 on Friday. The firm has a market capitalization of $13.38 billion, a price-to-earnings ratio of 32.05 and a beta of 0.87. Houlihan Lokey, Inc. has a fifty-two week low of $137.99 and a fifty-two week high of $211.78. The stock has a 50 day moving average of $198.26 and a 200 day moving average of $182.77.

Houlihan Lokey (NYSE:HLI) last issued its quarterly earnings data on Tuesday, July 29th. The financial services provider reported $2.14 earnings per share for the quarter, topping the consensus estimate of $1.69 by $0.45. Houlihan Lokey had a return on equity of 23.75% and a net margin of 16.46%.The company had revenue of $605.35 million during the quarter, compared to analyst estimates of $573.07 million. During the same period in the prior year, the business posted $1.22 earnings per share. The firm’s revenue for the quarter was up 17.8% compared to the same quarter last year. Analysts forecast that Houlihan Lokey, Inc. will post 5.98 EPS for the current year.

Houlihan Lokey Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, September 15th. Stockholders of record on Tuesday, September 2nd were given a dividend of $0.60 per share. This represents a $2.40 annualized dividend and a dividend yield of 1.3%. The ex-dividend date was Tuesday, September 2nd. Houlihan Lokey’s dividend payout ratio (DPR) is currently 40.40%.

Insider Transactions at Houlihan Lokey

In other news, General Counsel Christopher M. Crain sold 500 shares of the stock in a transaction on Tuesday, September 2nd. The stock was sold at an average price of $196.22, for a total value of $98,110.00. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Chairman Paul Eric Siegert sold 40,000 shares of the stock in a transaction on Wednesday, August 27th. The shares were sold at an average price of $199.95, for a total value of $7,998,000.00. The disclosure for this sale can be found here. Insiders sold a total of 47,311 shares of company stock worth $9,477,040 over the last ninety days. Company insiders own 22.83% of the company’s stock.

About Houlihan Lokey

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.