Pinebridge Investments LLC Invests $925,000 in Houlihan Lokey, Inc. $HLI

Pinebridge Investments LLC purchased a new position in shares of Houlihan Lokey, Inc. (NYSE:HLI) in the 4th quarter, Holdings Channel reports. The firm purchased 5,308 shares of the financial services provider’s stock, valued at approximately $925,000.

Several other hedge funds also recently made changes to their positions in the business. Vanguard Group Inc. grew its stake in shares of Houlihan Lokey by 0.3% during the 3rd quarter. Vanguard Group Inc. now owns 5,305,182 shares of the financial services provider’s stock worth $1,089,260,000 after acquiring an additional 13,750 shares in the last quarter. Geode Capital Management LLC boosted its holdings in shares of Houlihan Lokey by 6.4% in the 4th quarter. Geode Capital Management LLC now owns 1,418,549 shares of the financial services provider’s stock valued at $247,133,000 after buying an additional 84,757 shares during the last quarter. Bank of America Corp DE boosted its holdings in shares of Houlihan Lokey by 4.1% in the 2nd quarter. Bank of America Corp DE now owns 1,041,990 shares of the financial services provider’s stock valued at $187,506,000 after buying an additional 41,470 shares during the last quarter. Capital Research Global Investors boosted its holdings in shares of Houlihan Lokey by 19.7% in the 3rd quarter. Capital Research Global Investors now owns 956,441 shares of the financial services provider’s stock valued at $196,376,000 after buying an additional 157,605 shares during the last quarter. Finally, Raymond James Financial Inc. boosted its holdings in shares of Houlihan Lokey by 10.4% in the 2nd quarter. Raymond James Financial Inc. now owns 874,078 shares of the financial services provider’s stock valued at $157,291,000 after buying an additional 82,002 shares during the last quarter. 78.07% of the stock is owned by institutional investors.

Insider Buying and Selling at Houlihan Lokey

In other Houlihan Lokey news, General Counsel Christopher M. Crain sold 500 shares of the firm’s stock in a transaction on Wednesday, April 1st. The stock was sold at an average price of $143.40, for a total transaction of $71,700.00. Following the completion of the sale, the general counsel owned 500 shares of the company’s stock, valued at $71,700. This trade represents a 50.00% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Chairman Scott L. Beiser sold 6,265 shares of the firm’s stock in a transaction on Thursday, May 21st. The shares were sold at an average price of $150.26, for a total value of $941,378.90. Following the sale, the chairman directly owned 6,265 shares of the company’s stock, valued at $941,378.90. This represents a 50.00% decrease in their position. The SEC filing for this sale provides additional information. Company insiders own 22.83% of the company’s stock.

Wall Street Analyst Weigh In

HLI has been the subject of several recent analyst reports. Keefe, Bruyette & Woods cut their price objective on Houlihan Lokey from $177.00 to $172.00 and set an “outperform” rating for the company in a report on Thursday, May 7th. UBS Group set a $160.00 price objective on Houlihan Lokey in a report on Thursday, May 7th. Morgan Stanley cut their price objective on Houlihan Lokey from $205.00 to $193.00 and set an “overweight” rating for the company in a report on Thursday, April 9th. Zacks Research downgraded Houlihan Lokey from a “hold” rating to a “strong sell” rating in a report on Wednesday, May 13th. Finally, The Goldman Sachs Group cut their price objective on Houlihan Lokey from $210.00 to $184.00 and set a “buy” rating for the company in a report on Wednesday, April 1st. Five investment analysts have rated the stock with a Buy rating, three have given a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $191.29.

Houlihan Lokey Price Performance

Shares of Houlihan Lokey stock opened at $141.22 on Wednesday. The business has a fifty day simple moving average of $149.71 and a two-hundred day simple moving average of $162.40. Houlihan Lokey, Inc. has a 1 year low of $134.41 and a 1 year high of $211.78. The company has a market capitalization of $9.75 billion, a price-to-earnings ratio of 22.70, a P/E/G ratio of 1.06 and a beta of 0.95.

Houlihan Lokey (NYSE:HLI) last announced its quarterly earnings results 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 business had revenue of $635.64 million for the quarter, compared to analyst estimates of $679.22 million. During the same period in the prior year, the business earned $1.96 EPS. The company’s revenue for the quarter was down 4.6% compared to the same quarter last year. As a group, equities analysts anticipate that Houlihan Lokey, Inc. will post 8.54 earnings per share for the current fiscal year.

Houlihan Lokey Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, June 15th. Shareholders of record on Monday, June 1st will be issued a dividend of $0.70 per share. The ex-dividend date of this dividend is Monday, June 1st. This represents a $2.80 annualized dividend and a yield of 2.0%. This is a positive change from Houlihan Lokey’s previous quarterly dividend of $0.60. Houlihan Lokey’s payout ratio is 45.02%.

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.