California Public Employees Retirement System Trims Holdings in Houlihan Lokey, Inc. (NYSE:HLI)

California Public Employees Retirement System cut its stake in Houlihan Lokey, Inc. (NYSE:HLI) by 2.3% in the 4th quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 96,181 shares of the financial services provider’s stock after selling 2,310 shares during the quarter. California Public Employees Retirement System owned about 0.14% of Houlihan Lokey worth $11,533,000 at the end of the most recent quarter.

Other hedge funds also recently made changes to their positions in the company. Earnest Partners LLC boosted its stake in Houlihan Lokey by 1.1% during the third quarter. Earnest Partners LLC now owns 3,123,251 shares of the financial services provider’s stock valued at $334,563,000 after buying an additional 34,580 shares during the period. Kayne Anderson Rudnick Investment Management LLC boosted its stake in Houlihan Lokey by 0.6% during the third quarter. Kayne Anderson Rudnick Investment Management LLC now owns 2,760,144 shares of the financial services provider’s stock valued at $295,667,000 after buying an additional 17,696 shares during the period. Wellington Management Group LLP boosted its stake in Houlihan Lokey by 56.1% during the third quarter. Wellington Management Group LLP now owns 2,723,687 shares of the financial services provider’s stock valued at $291,761,000 after buying an additional 978,776 shares during the period. Burgundy Asset Management Ltd. boosted its stake in Houlihan Lokey by 2.3% during the third quarter. Burgundy Asset Management Ltd. now owns 1,668,037 shares of the financial services provider’s stock valued at $178,680,000 after buying an additional 37,551 shares during the period. Finally, FMR LLC boosted its stake in Houlihan Lokey by 69.9% during the third quarter. FMR LLC now owns 1,507,610 shares of the financial services provider’s stock valued at $161,495,000 after buying an additional 620,182 shares during the period. 78.07% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several research firms recently issued reports on HLI. Keefe, Bruyette & Woods reissued a “market perform” rating and set a $127.00 price objective on shares of Houlihan Lokey in a research note on Monday, January 29th. UBS Group lifted their price target on Houlihan Lokey from $136.00 to $142.00 and gave the stock a “buy” rating in a research note on Friday, February 2nd. Finally, JMP Securities reaffirmed a “market perform” rating on shares of Houlihan Lokey in a research note on Tuesday, April 9th.

Insider Activity at Houlihan Lokey

In related news, General Counsel Christopher M. Crain sold 1,000 shares of the stock in a transaction dated Friday, March 1st. The stock was sold at an average price of $128.94, for a total transaction of $128,940.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. 25.97% of the stock is currently owned by company insiders.

Houlihan Lokey Stock Down 0.1 %

Shares of HLI stock opened at $127.34 on Thursday. The business has a 50-day moving average price of $126.85 and a two-hundred day moving average price of $118.52. Houlihan Lokey, Inc. has a 12-month low of $84.89 and a 12-month high of $133.80. The firm has a market cap of $8.80 billion, a P/E ratio of 31.60 and a beta of 0.68.

Houlihan Lokey (NYSE:HLI) last issued its quarterly earnings results on Thursday, February 1st. The financial services provider reported $1.22 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.12 by $0.10. The firm had revenue of $511.30 million during the quarter, compared to analyst estimates of $493.02 million. Houlihan Lokey had a return on equity of 18.06% and a net margin of 14.90%. The company’s revenue was up 12.0% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.14 earnings per share. As a group, research analysts expect that Houlihan Lokey, Inc. will post 4.42 EPS for the current fiscal year.

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.