Corebridge Financial Inc. Sells 960 Shares of Houlihan Lokey, Inc. $HLI

Corebridge Financial Inc. trimmed its position in Houlihan Lokey, Inc. (NYSE:HLI) by 1.6% in the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 59,722 shares of the financial services provider’s stock after selling 960 shares during the period. Corebridge Financial Inc. owned approximately 0.09% of Houlihan Lokey worth $9,645,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors also recently bought and sold shares of HLI. Bogart Wealth LLC boosted its stake in Houlihan Lokey by 111.1% in the first quarter. Bogart Wealth LLC now owns 152 shares of the financial services provider’s stock valued at $25,000 after acquiring an additional 80 shares in the last quarter. Motco acquired a new stake in Houlihan Lokey in the first quarter valued at approximately $29,000. Brooklyn Investment Group acquired a new stake in Houlihan Lokey in the first quarter valued at approximately $33,000. TCTC Holdings LLC boosted its stake in Houlihan Lokey by 103.5% in the first quarter. TCTC Holdings LLC now owns 232 shares of the financial services provider’s stock valued at $37,000 after acquiring an additional 118 shares in the last quarter. Finally, Caitong International Asset Management Co. Ltd boosted its stake in Houlihan Lokey by 3,714.3% in the first quarter. Caitong International Asset Management Co. Ltd now owns 267 shares of the financial services provider’s stock valued at $43,000 after acquiring an additional 260 shares in the last quarter. 78.07% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Houlihan Lokey

In other Houlihan Lokey news, Chairman Irwin Gold sold 5,000 shares of the company’s stock in a transaction on Monday, June 30th. The shares were sold at an average price of $182.81, for a total value of $914,050.00. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, General Counsel Christopher M. Crain sold 500 shares of the company’s stock in a transaction on Monday, June 2nd. The shares were sold at an average price of $173.02, for a total transaction of $86,510.00. The disclosure for this sale can be found here. 22.83% of the stock is currently owned by corporate insiders.

Houlihan Lokey Trading Up 0.1%

NYSE:HLI opened at $200.57 on Thursday. Houlihan Lokey, Inc. has a 12 month low of $137.99 and a 12 month high of $201.25. The firm has a fifty day simple moving average of $189.93 and a 200-day simple moving average of $174.47. The company has a market capitalization of $14.10 billion, a P/E ratio of 33.77 and a beta of 0.86.

Houlihan Lokey (NYSE:HLI) last posted its earnings results on Tuesday, July 29th. The financial services provider reported $2.14 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.69 by $0.45. Houlihan Lokey had a net margin of 16.46% and a return on equity of 23.75%. The company had revenue of $605.35 million during the quarter, compared to the consensus estimate of $573.07 million. During the same period in the previous year, the firm posted $1.22 earnings per share. The firm’s quarterly revenue was up 17.8% on a year-over-year basis. Equities analysts forecast that Houlihan Lokey, Inc. will post 5.98 EPS for the current year.

Houlihan Lokey Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, September 15th. Shareholders of record on Tuesday, September 2nd will be issued a $0.60 dividend. This represents a $2.40 annualized dividend and a yield of 1.2%. The ex-dividend date of this dividend is Tuesday, September 2nd. Houlihan Lokey’s dividend payout ratio is presently 40.40%.

Analyst Upgrades and Downgrades

Several equities research analysts have weighed in on the stock. Morgan Stanley restated an “overweight” rating and issued a $192.00 target price (up from $159.00) on shares of Houlihan Lokey in a research note on Monday, June 23rd. Wall Street Zen downgraded shares of Houlihan Lokey from a “buy” rating to a “hold” rating in a research note on Saturday, August 2nd. Wells Fargo & Company lifted their price objective on shares of Houlihan Lokey from $185.00 to $209.00 and gave the stock an “overweight” rating in a research note on Friday, July 11th. Finally, Keefe, Bruyette & Woods upgraded shares of Houlihan Lokey from a “hold” rating to a “moderate buy” rating and lifted their price objective for the stock from $185.00 to $232.00 in a research note on Monday, July 14th. Three analysts have rated the stock with a Buy rating and two have issued a Hold rating to the stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $206.40.

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.