Houlihan Lokey, Inc. (NYSE:HLI) Stake Lifted by Chase Investment Counsel Corp

Chase Investment Counsel Corp grew its position in Houlihan Lokey, Inc. (NYSE:HLI) by 68.7% in the 3rd quarter, Holdings Channel.com reports. The institutional investor owned 39,833 shares of the financial services provider’s stock after purchasing an additional 16,226 shares during the quarter. Houlihan Lokey makes up 2.1% of Chase Investment Counsel Corp’s portfolio, making the stock its 10th biggest position. Chase Investment Counsel Corp’s holdings in Houlihan Lokey were worth $6,294,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Millennium Management LLC boosted its holdings in shares of Houlihan Lokey by 24,074.0% in the 2nd quarter. Millennium Management LLC now owns 501,610 shares of the financial services provider’s stock valued at $67,647,000 after buying an additional 499,535 shares in the last quarter. Fiera Capital Corp lifted its position in Houlihan Lokey by 666.8% during the third quarter. Fiera Capital Corp now owns 283,702 shares of the financial services provider’s stock valued at $44,831,000 after purchasing an additional 246,705 shares during the period. PineStone Asset Management Inc. purchased a new stake in shares of Houlihan Lokey in the second quarter worth about $10,141,000. Earnest Partners LLC grew its stake in shares of Houlihan Lokey by 1.9% during the 2nd quarter. Earnest Partners LLC now owns 3,273,818 shares of the financial services provider’s stock worth $441,507,000 after purchasing an additional 62,314 shares during the period. Finally, New York State Common Retirement Fund increased its holdings in Houlihan Lokey by 42.0% in the third quarter. New York State Common Retirement Fund now owns 183,976 shares of the financial services provider’s stock valued at $29,072,000 after buying an additional 54,386 shares in the last quarter. Institutional investors own 78.07% of the company’s stock.

Insider Buying and Selling

In other Houlihan Lokey news, General Counsel Christopher M. Crain sold 1,000 shares of the firm’s stock in a transaction dated Tuesday, September 3rd. The stock was sold at an average price of $155.29, for a total transaction of $155,290.00. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In other Houlihan Lokey news, General Counsel Christopher M. Crain sold 1,000 shares of Houlihan Lokey stock in a transaction that occurred on Tuesday, September 3rd. The stock was sold at an average price of $155.29, for a total transaction of $155,290.00. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Chairman Scott L. Beiser sold 8,317 shares of Houlihan Lokey stock in a transaction on Friday, August 16th. The shares were sold at an average price of $151.89, for a total transaction of $1,263,269.13. The disclosure for this sale can be found here. Insiders have sold 9,917 shares of company stock worth $1,513,129 in the last ninety days. 23.68% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on HLI. Morgan Stanley increased their target price on Houlihan Lokey from $146.00 to $163.00 and gave the company an “equal weight” rating in a research report on Monday, September 23rd. Keefe, Bruyette & Woods restated a “market perform” rating and issued a $154.00 price target (up from $139.00) on shares of Houlihan Lokey in a research report on Wednesday, July 31st. JPMorgan Chase & Co. cut their price objective on shares of Houlihan Lokey from $132.00 to $129.00 and set a “neutral” rating for the company in a research report on Wednesday, July 31st. Wells Fargo & Company began coverage on Houlihan Lokey in a research report on Thursday, September 12th. They issued an “underweight” rating and a $149.00 target price on the stock. Finally, UBS Group upped their price objective on shares of Houlihan Lokey from $170.00 to $190.00 and gave the stock a “buy” rating in a report on Tuesday, October 8th. One analyst has rated the stock with a sell rating, four have assigned a hold rating and two have issued a buy rating to the company. According to MarketBeat, Houlihan Lokey presently has a consensus rating of “Hold” and a consensus price target of $157.00.

Houlihan Lokey Stock Down 1.8 %

Shares of NYSE:HLI opened at $186.53 on Wednesday. Houlihan Lokey, Inc. has a fifty-two week low of $101.92 and a fifty-two week high of $190.66. The firm’s 50 day moving average price is $164.85 and its 200 day moving average price is $148.61. The stock has a market cap of $12.97 billion, a price-to-earnings ratio of 38.15 and a beta of 0.65.

Houlihan Lokey (NYSE:HLI) last issued its earnings results on Wednesday, October 30th. The financial services provider reported $1.46 earnings per share for the quarter, topping the consensus estimate of $1.31 by $0.15. The business had revenue of $574.96 million for the quarter, compared to analyst estimates of $537.93 million. Houlihan Lokey had a return on equity of 19.29% and a net margin of 15.77%. The business’s quarterly revenue was up 23.1% on a year-over-year basis. During the same quarter last year, the company earned $1.11 EPS. On average, equities analysts anticipate that Houlihan Lokey, Inc. will post 5.79 EPS for the current year.

Houlihan Lokey Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Sunday, December 15th. Investors of record on Monday, December 2nd will be given a $0.57 dividend. This represents a $2.28 dividend on an annualized basis and a dividend yield of 1.22%. The ex-dividend date is Monday, December 2nd. Houlihan Lokey’s dividend payout ratio (DPR) is 46.63%.

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.