TimesSquare Capital Management LLC lowered its stake in shares of Houlihan Lokey, Inc. (NYSE:HLI) by 28.5% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 310,825 shares of the financial services provider’s stock after selling 123,730 shares during the quarter. TimesSquare Capital Management LLC’s holdings in Houlihan Lokey were worth $20,673,000 at the end of the most recent reporting period.
Other hedge funds also recently made changes to their positions in the company. Oppenheimer Asset Management Inc. increased its position in Houlihan Lokey by 0.6% during the fourth quarter. Oppenheimer Asset Management Inc. now owns 35,155 shares of the financial services provider’s stock worth $2,364,000 after acquiring an additional 201 shares during the period. State of New Jersey Common Pension Fund D boosted its stake in Houlihan Lokey by 7.1% during the first quarter. State of New Jersey Common Pension Fund D now owns 39,734 shares of the financial services provider’s stock worth $2,643,000 after buying an additional 2,632 shares in the last quarter. AGF Investments Inc. acquired a new stake in Houlihan Lokey during the fourth quarter worth $3,362,000. The PNC Financial Services Group Inc. boosted its stake in Houlihan Lokey by 6.9% during the first quarter. The PNC Financial Services Group Inc. now owns 4,340 shares of the financial services provider’s stock worth $288,000 after buying an additional 280 shares in the last quarter. Finally, Woodley Farra Manion Portfolio Management Inc. boosted its stake in Houlihan Lokey by 2.9% during the first quarter. Woodley Farra Manion Portfolio Management Inc. now owns 297,869 shares of the financial services provider’s stock worth $19,811,000 after buying an additional 8,475 shares in the last quarter. 74.92% of the stock is currently owned by institutional investors and hedge funds.
A number of equities research analysts have weighed in on the stock. The Goldman Sachs Group reiterated a “neutral” rating and set a $73.00 price target (down previously from $82.00) on shares of Houlihan Lokey in a research note on Thursday, March 25th. Zacks Investment Research downgraded shares of Houlihan Lokey from a “buy” rating to a “hold” rating in a research note on Friday, April 2nd. Two investment analysts have rated the stock with a sell rating and five have issued a hold rating to the company. Houlihan Lokey has an average rating of “Hold” and an average target price of $67.50.
Shares of NYSE:HLI opened at $78.92 on Friday. Houlihan Lokey, Inc. has a 52 week low of $52.84 and a 52 week high of $79.11. The firm has a fifty day moving average price of $70.50. The firm has a market cap of $5.38 billion, a P/E ratio of 17.38 and a beta of 0.67.
Houlihan Lokey (NYSE:HLI) last issued its earnings results on Tuesday, May 11th. The financial services provider reported $1.51 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $1.14 by $0.37. Houlihan Lokey had a net margin of 20.50% and a return on equity of 24.41%. The company had revenue of $500.70 million for the quarter, compared to the consensus estimate of $385.37 million. During the same quarter in the previous year, the company earned $0.96 EPS. The firm’s revenue for the quarter was up 65.4% compared to the same quarter last year. As a group, analysts predict that Houlihan Lokey, Inc. will post 4.26 EPS for the current year.
The company also recently announced a quarterly dividend, which will be paid on Tuesday, June 15th. Stockholders of record on Wednesday, June 2nd will be paid a $0.43 dividend. This represents a $1.72 annualized dividend and a dividend yield of 2.18%. The ex-dividend date is Tuesday, June 1st. This is an increase from Houlihan Lokey’s previous quarterly dividend of $0.33. Houlihan Lokey’s payout ratio is currently 37.23%.
Houlihan Lokey Company Profile
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.
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