Houlihan Lokey, Inc. $HLI Shares Sold by Jennison Associates LLC

Jennison Associates LLC lessened its stake in Houlihan Lokey, Inc. (NYSE:HLI) by 20.3% in the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 468,557 shares of the financial services provider’s stock after selling 119,210 shares during the quarter. Jennison Associates LLC owned about 0.67% of Houlihan Lokey worth $67,294,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of the company. Flagship Harbor Advisors LLC acquired a new position in shares of Houlihan Lokey during the fourth quarter worth $26,000. Oakworth Capital Inc. purchased a new position in shares of Houlihan Lokey in the fourth quarter valued at $29,000. Core Wealth Advisors LLC purchased a new position in shares of Houlihan Lokey in the fourth quarter valued at $32,000. Eurizon Capital SGR S.p.A. acquired a new stake in Houlihan Lokey during the 4th quarter valued at $33,000. Finally, Annis Gardner Whiting Capital Advisors LLC grew its holdings 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 purchasing an additional 120 shares in the last quarter. Institutional investors and hedge funds own 78.07% of the company’s stock.

Houlihan Lokey Stock Performance

NYSE:HLI opened at $140.13 on Monday. The company has a market capitalization of $9.68 billion, a price-to-earnings ratio of 22.53, a price-to-earnings-growth ratio of 1.19 and a beta of 0.95. Houlihan Lokey, Inc. has a one year low of $130.72 and a one year high of $211.78. The stock has a 50-day simple moving average of $141.92 and a 200 day simple moving average of $154.88.

Houlihan Lokey (NYSE:HLI) last announced its quarterly earnings data on Wednesday, May 6th. The financial services provider reported $1.63 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.79 by ($0.16). Houlihan Lokey had a net margin of 16.26% and a return on equity of 22.88%. The firm had revenue of $635.64 million for the quarter, compared to analyst estimates of $679.22 million. During the same quarter in the previous year, the company earned $1.96 EPS. The company’s quarterly revenue was down 4.6% compared to the same quarter last year. On average, equities research analysts forecast that Houlihan Lokey, Inc. will post 7.91 EPS for the current fiscal year.

Houlihan Lokey Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, June 15th. Stockholders of record on Monday, June 1st were issued a $0.70 dividend. This is a positive change from Houlihan Lokey’s previous quarterly dividend of $0.60. The ex-dividend date was Monday, June 1st. This represents a $2.80 dividend on an annualized basis and a dividend yield of 2.0%. Houlihan Lokey’s dividend payout ratio (DPR) is presently 45.02%.

Insider Activity

In related news, Chairman Scott L. Beiser sold 6,265 shares of the company’s 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 sale, the chairman directly owned 6,265 shares of the company’s stock, valued at approximately $941,378.90. This represents a 50.00% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Corporate insiders own 22.83% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages have commented on HLI. Weiss Ratings lowered shares of Houlihan Lokey from a “hold (c+)” rating to a “hold (c)” rating in a report on Tuesday, April 21st. Zacks Research upgraded Houlihan Lokey from a “strong sell” rating to a “hold” rating in a research note on Thursday, June 11th. The Goldman Sachs Group set a $164.00 target price on Houlihan Lokey in a research report on Friday, July 10th. UBS Group boosted their price target on Houlihan Lokey from $160.00 to $161.00 and gave the stock a “neutral” rating in a research note on Wednesday, July 8th. Finally, Keefe, Bruyette & Woods lowered their price objective on Houlihan Lokey from $172.00 to $160.00 and set an “outperform” rating for the company in a research note on Friday, July 10th. Five analysts have rated the stock with a Buy rating and five have given a Hold rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $180.50.

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.