Earnest Partners LLC grew its stake in Houlihan Lokey Inc (NYSE:HLI) by 223.3% in the 2nd quarter, Holdings Channel.com reports. The firm owned 1,589,115 shares of the financial services provider’s stock after purchasing an additional 1,097,619 shares during the period. Earnest Partners LLC’s holdings in Houlihan Lokey were worth $70,763,000 at the end of the most recent quarter.
Several other institutional investors also recently made changes to their positions in the company. Envestnet Asset Management Inc. increased its position in shares of Houlihan Lokey by 25.4% during the 2nd quarter. Envestnet Asset Management Inc. now owns 88,675 shares of the financial services provider’s stock valued at $3,949,000 after purchasing an additional 17,973 shares during the last quarter. JPMorgan Chase & Co. increased its position in Houlihan Lokey by 3.2% during the second quarter. JPMorgan Chase & Co. now owns 249,428 shares of the financial services provider’s stock valued at $11,068,000 after acquiring an additional 7,662 shares during the last quarter. State Board of Administration of Florida Retirement System bought a new position in Houlihan Lokey during the second quarter valued at $470,000. WBI Investments Inc. purchased a new stake in shares of Houlihan Lokey in the second quarter valued at $1,046,000. Finally, ORIX Corp USA raised its stake in shares of Houlihan Lokey by 574.0% in the first quarter. ORIX Corp USA now owns 4,109,721 shares of the financial services provider’s stock valued at $188,431,000 after acquiring an additional 3,500,000 shares during the period. Hedge funds and other institutional investors own 63.94% of the company’s stock.
Shares of NYSE:HLI opened at $46.82 on Friday. Houlihan Lokey Inc has a 1 year low of $34.31 and a 1 year high of $50.00. The business has a 50 day simple moving average of $43.99 and a two-hundred day simple moving average of $45.55. The firm has a market capitalization of $3.01 billion, a PE ratio of 16.31 and a beta of 0.98. The company has a debt-to-equity ratio of 0.18, a current ratio of 1.01 and a quick ratio of 1.01.
Houlihan Lokey (NYSE:HLI) last announced its earnings results on Thursday, July 25th. The financial services provider reported $0.67 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.56 by $0.11. Houlihan Lokey had a return on equity of 22.75% and a net margin of 15.45%. The business had revenue of $250.35 million during the quarter, compared to analyst estimates of $228.98 million. During the same quarter in the previous year, the business earned $0.55 earnings per share. The company’s revenue for the quarter was up 13.8% compared to the same quarter last year. Equities research analysts expect that Houlihan Lokey Inc will post 2.95 EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Monday, September 16th. Shareholders of record on Thursday, September 5th will be given a dividend of $0.31 per share. The ex-dividend date is Wednesday, September 4th. This represents a $1.24 annualized dividend and a dividend yield of 2.65%. Houlihan Lokey’s dividend payout ratio (DPR) is presently 43.21%.
A number of equities analysts recently commented on the stock. Zacks Investment Research raised shares of Houlihan Lokey from a “hold” rating to a “buy” rating and set a $52.00 price target for the company in a research note on Wednesday, July 31st. ValuEngine raised shares of Houlihan Lokey from a “sell” rating to a “hold” rating in a research report on Wednesday, September 4th. Buckingham Research decreased their price objective on shares of Houlihan Lokey from $53.00 to $51.00 and set a “buy” rating for the company in a research note on Thursday, July 11th. Finally, JMP Securities lowered Houlihan Lokey from an “outperform” rating to a “market perform” rating and set a $46.65 target price for the company. in a research report on Thursday, May 23rd. Two analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. The company currently has a consensus rating of “Buy” and an average price target of $50.09.
In other Houlihan Lokey news, insider Orix Hlhz Holding Llc sold 3,377,935 shares of the business’s stock in a transaction that occurred on Tuesday, July 30th. The stock was sold at an average price of $45.61, for a total transaction of $154,067,615.35. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 38.23% of the stock is owned by insiders.
Houlihan Lokey Company Profile
Houlihan Lokey, Inc, an investment banking company, provides merger and acquisition (M&A), financing, financial restructuring, and financial advisory services worldwide. It operates in three segments: Corporate Finance, Financial Restructuring, and Financial Advisory Services. The Corporate Finance segment offers general financial advisory services; and advises public and private institutions on buy-side and sell-side transactions, leveraged loans, private mezzanine debt, high-yield debt, initial public offerings, follow-ons, convertibles, equity private placements, private equity, and liability management transactions, as well as financial sponsors on various transactions.
Further Reading: How accurate is the Rule of 72?
Want to see what other hedge funds are holding HLI? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Houlihan Lokey Inc (NYSE:HLI).
Receive News & Ratings for Houlihan Lokey Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Houlihan Lokey and related companies with MarketBeat.com's FREE daily email newsletter.