Harvest Fund Management Co. Ltd Acquires 3,087 Shares of Houlihan Lokey, Inc. (NYSE:HLI)

Harvest Fund Management Co. Ltd boosted its holdings in Houlihan Lokey, Inc. (NYSE:HLI) by 810.2% during the 4th quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 3,468 shares of the financial services provider’s stock after acquiring an additional 3,087 shares during the quarter. Harvest Fund Management Co. Ltd’s holdings in Houlihan Lokey were worth $602,000 at the end of the most recent quarter.

Other large investors have also added to or reduced their stakes in the company. Private Trust Co. NA bought a new position in Houlihan Lokey in the 4th quarter valued at about $29,000. Financial Life Planners bought a new position in Houlihan Lokey in the 4th quarter valued at about $33,000. Golden State Wealth Management LLC bought a new position in Houlihan Lokey in the 4th quarter valued at about $53,000. VisionPoint Advisory Group LLC bought a new position in Houlihan Lokey in the 4th quarter valued at about $62,000. Finally, First Horizon Advisors Inc. lifted its position in Houlihan Lokey by 81.5% in the 3rd quarter. First Horizon Advisors Inc. now owns 441 shares of the financial services provider’s stock valued at $70,000 after acquiring an additional 198 shares in the last quarter. Institutional investors own 78.07% of the company’s stock.

Analyst Ratings Changes

HLI has been the subject of several analyst reports. Morgan Stanley upgraded shares of Houlihan Lokey from an “underweight” rating to an “overweight” rating and decreased their price objective for the company from $201.00 to $190.00 in a research note on Thursday, March 13th. Keefe, Bruyette & Woods reiterated a “market perform” rating and issued a $192.00 price objective (up from $170.00) on shares of Houlihan Lokey in a research note on Wednesday, January 29th. JMP Securities reissued a “market perform” rating on shares of Houlihan Lokey in a report on Wednesday, January 29th. UBS Group raised their price target on shares of Houlihan Lokey from $229.00 to $230.00 and gave the company a “buy” rating in a report on Wednesday, January 29th. Finally, JPMorgan Chase & Co. cut their price target on shares of Houlihan Lokey from $172.00 to $169.00 and set a “neutral” rating for the company in a report on Wednesday, January 29th. Four research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. According to MarketBeat.com, Houlihan Lokey has a consensus rating of “Hold” and a consensus price target of $192.00.

Houlihan Lokey Stock Performance

NYSE HLI opened at $162.33 on Friday. Houlihan Lokey, Inc. has a 52-week low of $122.14 and a 52-week high of $192.10. The company has a market capitalization of $11.39 billion, a P/E ratio of 30.98 and a beta of 0.72. The company has a fifty day moving average of $173.22 and a 200-day moving average of $172.01.

Houlihan Lokey (NYSE:HLI) last posted its quarterly earnings data on Tuesday, January 28th. The financial services provider reported $1.64 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.51 by $0.13. Houlihan Lokey had a net margin of 16.00% and a return on equity of 20.04%. As a group, analysts forecast that Houlihan Lokey, Inc. will post 5.98 EPS for the current fiscal year.

Houlihan Lokey Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Saturday, March 15th. Stockholders of record on Monday, March 3rd were issued a dividend of $0.57 per share. This represents a $2.28 dividend on an annualized basis and a dividend yield of 1.40%. The ex-dividend date of this dividend was Monday, March 3rd. Houlihan Lokey’s dividend payout ratio is currently 43.51%.

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.