Harbor Capital Advisors Inc. Reduces Stake in Houlihan Lokey, Inc. $HLI

Harbor Capital Advisors Inc. reduced its position in Houlihan Lokey, Inc. (NYSE:HLI) by 68.3% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 7,587 shares of the financial services provider’s stock after selling 16,368 shares during the quarter. Harbor Capital Advisors Inc.’s holdings in Houlihan Lokey were worth $1,558,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors have also recently made changes to their positions in HLI. Resources Management Corp CT ADV raised its stake in Houlihan Lokey by 0.9% in the 2nd quarter. Resources Management Corp CT ADV now owns 5,845 shares of the financial services provider’s stock valued at $1,052,000 after acquiring an additional 55 shares during the period. Legacy Wealth Asset Management LLC raised its position in shares of Houlihan Lokey by 3.3% in the second quarter. Legacy Wealth Asset Management LLC now owns 1,916 shares of the financial services provider’s stock valued at $345,000 after purchasing an additional 61 shares during the period. Farther Finance Advisors LLC lifted its stake in shares of Houlihan Lokey by 16.5% during the 3rd quarter. Farther Finance Advisors LLC now owns 467 shares of the financial services provider’s stock valued at $96,000 after buying an additional 66 shares in the last quarter. ProShare Advisors LLC boosted its holdings in Houlihan Lokey by 3.7% in the 2nd quarter. ProShare Advisors LLC now owns 2,385 shares of the financial services provider’s stock worth $429,000 after buying an additional 84 shares during the period. Finally, Vista Finance LLC grew its stake in Houlihan Lokey by 4.1% in the 2nd quarter. Vista Finance LLC now owns 2,228 shares of the financial services provider’s stock valued at $401,000 after buying an additional 87 shares in the last quarter. Hedge funds and other institutional investors own 78.07% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts have issued reports on the company. Weiss Ratings reaffirmed a “buy (b-)” rating on shares of Houlihan Lokey in a report on Monday. Zacks Research cut Houlihan Lokey from a “strong-buy” rating to a “hold” rating in a report on Monday, September 29th. Deutsche Bank Aktiengesellschaft assumed coverage on Houlihan Lokey in a report on Thursday, October 9th. They set a “hold” rating and a $210.00 target price for the company. BMO Capital Markets started coverage on shares of Houlihan Lokey in a report on Friday, October 3rd. They issued an “outperform” rating and a $230.00 price target on the stock. Finally, UBS Group assumed coverage on shares of Houlihan Lokey in a research report on Thursday, December 11th. They issued a “neutral” rating and a $193.00 price objective for the company. One research analyst has rated the stock with a Strong Buy rating, four have given a Buy rating and five have given a Hold rating to the company. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $207.43.

Houlihan Lokey Trading Up 0.3%

HLI stock opened at $178.49 on Friday. Houlihan Lokey, Inc. has a 1-year low of $137.99 and a 1-year high of $211.78. The company’s 50 day moving average is $181.10 and its 200 day moving average is $188.54. The stock has a market cap of $12.51 billion, a price-to-earnings ratio of 28.79 and a beta of 0.95.

Houlihan Lokey (NYSE:HLI) last released its quarterly earnings results on Thursday, October 30th. The financial services provider reported $1.84 earnings per share for the quarter, beating analysts’ consensus estimates of $1.69 by $0.15. The business had revenue of $659.45 million for the quarter, compared to the consensus estimate of $639.08 million. Houlihan Lokey had a return on equity of 24.17% and a net margin of 16.62%.The company’s revenue for the quarter was up 14.7% on a year-over-year basis. During the same quarter last year, the business posted $1.46 earnings per share. As a group, sell-side analysts forecast that Houlihan Lokey, Inc. will post 5.98 EPS for the current fiscal year.

Houlihan Lokey Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, December 15th. Shareholders of record on Monday, December 1st were paid a $0.60 dividend. The ex-dividend date of this dividend was Monday, December 1st. This represents a $2.40 annualized dividend and a yield of 1.3%. Houlihan Lokey’s payout ratio is currently 38.71%.

About Houlihan Lokey

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.