Teacher Retirement System of Texas Boosts Stock Position in Houlihan Lokey, Inc. $HLI

Teacher Retirement System of Texas boosted its position in Houlihan Lokey, Inc. (NYSE:HLI) by 115.8% in the 3rd quarter, HoldingsChannel reports. The firm owned 43,541 shares of the financial services provider’s stock after purchasing an additional 23,367 shares during the period. Teacher Retirement System of Texas’ holdings in Houlihan Lokey were worth $8,940,000 at the end of the most recent reporting period.

Other hedge funds also recently modified their holdings of the company. Burgundy Asset Management Ltd. grew its holdings in shares of Houlihan Lokey by 3.0% during the second quarter. Burgundy Asset Management Ltd. now owns 1,225,966 shares of the financial services provider’s stock worth $220,613,000 after buying an additional 36,144 shares in the last quarter. Mayflower Financial Advisors LLC purchased a new position in shares of Houlihan Lokey during the third quarter valued at approximately $230,335,000. Bank of America Corp DE boosted its position in Houlihan Lokey by 4.1% during the second quarter. Bank of America Corp DE now owns 1,041,990 shares of the financial services provider’s stock worth $187,506,000 after acquiring an additional 41,470 shares during the last quarter. Geode Capital Management LLC grew its stake in Houlihan Lokey by 2.1% in the 2nd quarter. Geode Capital Management LLC now owns 1,041,590 shares of the financial services provider’s stock worth $187,462,000 after acquiring an additional 21,132 shares during the period. Finally, Raymond James Financial Inc. raised its holdings in 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 acquiring an additional 82,002 shares during the last quarter. 78.07% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In other news, General Counsel Christopher M. Crain sold 500 shares of the firm’s stock in a transaction on Friday, January 2nd. The shares were sold at an average price of $174.17, for a total value of $87,085.00. The sale was disclosed in a filing with the SEC, which is accessible through this link. 22.83% of the stock is owned by insiders.

Analyst Ratings Changes

HLI has been the topic of several analyst reports. Zacks Research cut Houlihan Lokey from a “strong-buy” rating to a “hold” rating in a report on Monday, September 29th. BMO Capital Markets initiated coverage on Houlihan Lokey in a research note on Friday, October 3rd. They issued an “outperform” rating and a $230.00 price target on the stock. Deutsche Bank Aktiengesellschaft assumed coverage on Houlihan Lokey in a report on Thursday, October 9th. They issued a “hold” rating and a $210.00 price target for the company. Keefe, Bruyette & Woods decreased their target price on shares of Houlihan Lokey from $228.00 to $218.00 and set an “outperform” rating on the stock in a research report on Thursday, January 8th. Finally, Morgan Stanley lowered their target price on shares of Houlihan Lokey from $216.00 to $215.00 and set an “overweight” rating for the company in a report on Tuesday, January 6th. One investment analyst has rated the stock with a Strong Buy rating, three have given a Buy rating and six have assigned a Hold rating to the company. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $206.29.

Houlihan Lokey Price Performance

Houlihan Lokey stock opened at $186.14 on Monday. The company has a market cap of $13.04 billion, a price-to-earnings ratio of 30.02 and a beta of 0.95. Houlihan Lokey, Inc. has a 12 month low of $137.99 and a 12 month high of $211.78. The stock’s 50-day moving average is $179.14 and its 200-day moving average is $189.29.

Houlihan Lokey (NYSE:HLI) last issued its earnings results on Thursday, October 30th. The financial services provider reported $1.84 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.69 by $0.15. Houlihan Lokey had a return on equity of 24.17% and a net margin of 16.62%.The business had revenue of $659.45 million during the quarter, compared to analysts’ expectations of $639.08 million. During the same quarter in the previous year, the business earned $1.46 EPS. The company’s revenue for the quarter was up 14.7% on a year-over-year basis. Research analysts anticipate that Houlihan Lokey, Inc. will post 5.98 EPS for the current year.

Houlihan Lokey Dividend Announcement

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

Houlihan Lokey Company 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.