Whittier Trust Co. Increases Position in Houlihan Lokey, Inc. $HLI

Whittier Trust Co. grew its holdings in Houlihan Lokey, Inc. (NYSE:HLI) by 10.3% during the first quarter, HoldingsChannel reports. The firm owned 78,222 shares of the financial services provider’s stock after acquiring an additional 7,294 shares during the period. Whittier Trust Co.’s holdings in Houlihan Lokey were worth $11,011,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also made changes to their positions in HLI. Royal Bank of Canada increased its holdings in shares of Houlihan Lokey by 14.4% during the 1st quarter. Royal Bank of Canada now owns 49,584 shares of the financial services provider’s stock worth $8,008,000 after buying an additional 6,253 shares during the last quarter. AQR Capital Management LLC raised its position in Houlihan Lokey by 50.0% in the first quarter. AQR Capital Management LLC now owns 29,654 shares of the financial services provider’s stock valued at $4,598,000 after purchasing an additional 9,891 shares during the period. Millennium Management LLC acquired a new position in shares of Houlihan Lokey in the 1st quarter valued at $18,964,000. Goldman Sachs Group Inc. grew its holdings in shares of Houlihan Lokey by 5.7% during the 1st quarter. Goldman Sachs Group Inc. now owns 415,743 shares of the financial services provider’s stock worth $67,143,000 after purchasing an additional 22,553 shares during the period. Finally, Arrowstreet Capital Limited Partnership purchased a new position in shares of Houlihan Lokey during the 2nd quarter worth $1,033,000. 78.07% of the stock is currently owned by institutional investors and hedge funds.

Houlihan Lokey Stock Down 0.6%

Houlihan Lokey stock traded down $0.92 during midday trading on Tuesday, reaching $141.53. The company’s stock had a trading volume of 60,146 shares, compared to its average volume of 637,629. The company has a market cap of $9.77 billion, a P/E ratio of 22.73, a P/E/G ratio of 1.09 and a beta of 0.95. The business has a 50-day simple moving average of $144.94 and a 200-day simple moving average of $157.38. Houlihan Lokey, Inc. has a fifty-two week low of $131.30 and a fifty-two week high of $211.78.

Houlihan Lokey (NYSE:HLI) last released its quarterly earnings data 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 net margin of 16.26% and a return on equity of 22.88%. The business had revenue of $635.64 million during the quarter, compared to analysts’ expectations of $679.22 million. During the same quarter in the previous year, the company posted $1.96 EPS. The company’s revenue was down 4.6% compared to the same quarter last year. As a group, equities analysts forecast that Houlihan Lokey, Inc. will post 8.54 earnings per share for the current year.

Houlihan Lokey Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, June 15th. Shareholders of record on Monday, June 1st were paid a $0.70 dividend. This is an increase from Houlihan Lokey’s previous quarterly dividend of $0.60. This represents a $2.80 annualized dividend and a yield of 2.0%. The ex-dividend date was Monday, June 1st. Houlihan Lokey’s payout ratio is currently 45.02%.

Insiders Place Their Bets

In other news, Chairman Scott L. Beiser sold 6,265 shares of the business’s stock in a transaction that occurred on Thursday, May 21st. The shares were 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 in the company, valued at approximately $941,378.90. The trade was a 50.00% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 22.83% of the company’s stock.

Analyst Ratings Changes

Several analysts recently issued reports on HLI shares. The Goldman Sachs Group reduced their price objective on shares of Houlihan Lokey from $210.00 to $184.00 and set a “buy” rating on the stock in a report on Wednesday, April 1st. Weiss Ratings lowered shares of Houlihan Lokey from a “hold (c+)” rating to a “hold (c)” rating in a report on Tuesday, April 21st. UBS Group set a $160.00 price objective on shares of Houlihan Lokey in a research report on Thursday, May 7th. Morgan Stanley dropped 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, Zacks Research upgraded Houlihan Lokey from a “strong sell” rating to a “hold” rating in a research report on Thursday, June 11th. Five analysts have rated the stock with a Buy rating and four have given a Hold rating to the stock. According to MarketBeat, Houlihan Lokey has an average rating of “Moderate Buy” and a consensus price target of $191.29.

Houlihan Lokey 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.