Houlihan Lokey, Inc. $HLI Stock: Woodley Farra Manion Portfolio Management Inc. Cuts Stake

Woodley Farra Manion Portfolio Management Inc. lessened its holdings in shares of Houlihan Lokey, Inc. (NYSE:HLI) by 2.4% in the third quarter, Holdings Channel.com reports. The firm owned 255,162 shares of the financial services provider’s stock after selling 6,349 shares during the period. Woodley Farra Manion Portfolio Management Inc.’s holdings in Houlihan Lokey were worth $32,237,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors have also recently modified their holdings of the business. Squarepoint Ops LLC lifted its stake in Houlihan Lokey by 356.7% in the 2nd quarter. Squarepoint Ops LLC now owns 78,512 shares of the financial services provider’s stock worth $10,531,000 after purchasing an additional 61,321 shares in the last quarter. Public Employees Retirement System of Ohio purchased a new position in shares of Houlihan Lokey during the 2nd quarter valued at $2,815,000. VELA Investment Management LLC grew its position in shares of Houlihan Lokey by 63.1% during the 2nd quarter. VELA Investment Management LLC now owns 26,300 shares of the financial services provider’s stock valued at $3,528,000 after purchasing an additional 10,170 shares in the last quarter. Assenagon Asset Management S.A. grew its position in shares of Houlihan Lokey by 7.5% during the 2nd quarter. Assenagon Asset Management S.A. now owns 126,476 shares of the financial services provider’s stock valued at $16,964,000 after purchasing an additional 8,871 shares in the last quarter. Finally, Healthcare of Ontario Pension Plan Trust Fund bought a new position in shares of Houlihan Lokey in the first quarter worth $3,018,000. Hedge funds and other institutional investors own 78.07% of the company’s stock.

Insider Activity

In related news, General Counsel Christopher M. Crain sold 1,000 shares of the business’s stock in a transaction dated Thursday, September 10th. The stock was sold at an average price of $140.15, for a total transaction of $140,150.00. Following the transaction, the general counsel owned 1,000 shares in the company, valued at $140,150. The trade was a 50.00% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Insiders own 22.53% of the company’s stock.

Wall Street Analysts Forecast Growth

HLI has been the subject of several research analyst reports. Citigroup raised Houlihan Lokey to an “outperform” rating in a research note on Friday, October 9th. The Goldman Sachs Group decreased 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. Zacks Research upgraded Houlihan Lokey from a “strong sell” rating to a “hold” rating in a research note on Tuesday, October 13th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Houlihan Lokey in a report on Thursday, October 15th. Finally, Morgan Stanley dropped their price target on Houlihan Lokey from $177.00 to $165.00 and set an “overweight” rating for the company in a research report on Thursday, October 8th. Seven equities research analysts have rated the stock with a Buy rating and five have given a Hold rating to the stock. According to MarketBeat.com, Houlihan Lokey presently has an average rating of “Moderate Buy” and a consensus target price of $160.44.

Houlihan Lokey Stock Down 0.5%

HLI opened at $147.73 on Wednesday. The stock has a market cap of $10.26 billion, a PE ratio of 24.79, a P/E/G ratio of 1.75 and a beta of 0.90. Houlihan Lokey, Inc. has a 52 week low of $112.83 and a 52 week high of $195.06. The business’s fifty day simple moving average is $133.64 and its 200 day simple moving average is $143.53.

Houlihan Lokey (NYSE:HLI) last issued its earnings results on Wednesday, October 28th. The financial services provider reported $1.85 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.63 by $0.22. Houlihan Lokey had a return on equity of 19.94% and a net margin of 15.78%. The business had revenue of $692.00 million during the quarter, compared to analyst estimates of $625.88 million. During the same quarter in the prior year, the firm earned $1.84 earnings per share. Houlihan Lokey’s revenue for the quarter was up 4.9% on a year-over-year basis. As a group, equities analysts anticipate that Houlihan Lokey, Inc. will post 7.24 earnings per share for the current year.

Houlihan Lokey Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 15th. Shareholders of record on Tuesday, December 1st will be given a $0.70 dividend. The ex-dividend date is Tuesday, December 1st. This represents a $2.80 dividend on an annualized basis and a dividend yield of 1.9%. Houlihan Lokey’s payout ratio is presently 46.98%.

Houlihan Lokey Profile

Houlihan Lokey, Inc. is a global investment bank headquartered in Los Angeles. Founded in 1972, the firm provides financial advice and related services to corporations, financial sponsors, governments and other organizations. The company’s main businesses include corporate finance, financial restructuring and financial and valuation advisory. Its services include advising on mergers and acquisitions, debt and equity financing, restructuring transactions, and business and asset valuations. Houlihan Lokey serves clients across the Americas, Europe, the Middle East and Asia-Pacific through an international office network.