Franklin Parlapiano Turner & Welch LLC Sells 941 Shares of Houlihan Lokey, Inc. $HLI

Franklin Parlapiano Turner & Welch LLC decreased its position in shares of Houlihan Lokey, Inc. (NYSE:HLI) by 1.7% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 55,633 shares of the financial services provider’s stock after selling 941 shares during the quarter. Houlihan Lokey makes up about 2.6% of Franklin Parlapiano Turner & Welch LLC’s portfolio, making the stock its 8th biggest holding. Franklin Parlapiano Turner & Welch LLC owned approximately 0.08% of Houlihan Lokey worth $10,011,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently modified their holdings of HLI. Bogart Wealth LLC boosted its position in shares of Houlihan Lokey by 111.1% during the 1st 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 during the last quarter. Motco acquired a new position in shares of Houlihan Lokey during the 1st quarter valued at about $29,000. Brooklyn Investment Group acquired a new position in shares of Houlihan Lokey during the 1st quarter valued at about $33,000. Trust Co. of Toledo NA OH acquired a new position in shares of Houlihan Lokey during the 2nd quarter valued at about $34,000. Finally, TCTC Holdings LLC raised its holdings in Houlihan Lokey by 103.5% in the 1st quarter. TCTC Holdings LLC now owns 232 shares of the financial services provider’s stock valued at $37,000 after buying an additional 118 shares during the period. Institutional investors and hedge funds own 78.07% of the company’s stock.

Houlihan Lokey Price Performance

Shares of NYSE:HLI opened at $187.98 on Friday. The firm has a market capitalization of $13.22 billion, a PE ratio of 31.65 and a beta of 0.87. The firm’s 50-day moving average is $198.22 and its two-hundred day moving average is $181.86. Houlihan Lokey, Inc. has a 1 year low of $137.99 and a 1 year high of $211.78.

Houlihan Lokey (NYSE:HLI) last issued its quarterly earnings results on Tuesday, July 29th. The financial services provider reported $2.14 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.69 by $0.45. The company had revenue of $605.35 million for the quarter, compared to analyst estimates of $573.07 million. Houlihan Lokey had a net margin of 16.46% and a return on equity of 23.75%. The business’s revenue for the quarter was up 17.8% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.22 earnings per share. Analysts expect that Houlihan Lokey, Inc. will post 5.98 EPS for the current fiscal year.

Houlihan Lokey Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, September 15th. Investors of record on Tuesday, September 2nd were paid a dividend of $0.60 per share. This represents a $2.40 dividend on an annualized basis and a dividend yield of 1.3%. The ex-dividend date was Tuesday, September 2nd. Houlihan Lokey’s dividend payout ratio is presently 40.40%.

Insider Buying and Selling

In related news, Chairman Paul Eric Siegert sold 40,000 shares of the company’s stock in a transaction that occurred on Wednesday, August 27th. The shares were sold at an average price of $199.95, for a total transaction of $7,998,000.00. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, General Counsel Christopher M. Crain sold 500 shares of the company’s stock in a transaction that occurred on Tuesday, September 2nd. The stock was sold at an average price of $196.22, for a total transaction of $98,110.00. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 47,311 shares of company stock worth $9,477,040. Company insiders own 22.83% of the company’s stock.

Analysts Set New Price Targets

Several brokerages recently issued reports on HLI. Zacks Research lowered shares of Houlihan Lokey from a “strong-buy” rating to a “hold” rating in a report on Monday, September 29th. Wells Fargo & Company boosted their price objective on shares of Houlihan Lokey from $185.00 to $209.00 and gave the company an “overweight” rating in a report on Friday, July 11th. Keefe, Bruyette & Woods upgraded shares of Houlihan Lokey from a “hold” rating to a “moderate buy” rating and boosted their price objective for the company from $185.00 to $232.00 in a report on Monday, July 14th. BMO Capital Markets began coverage on shares of Houlihan Lokey in a report on Friday, October 3rd. They issued an “outperform” rating and a $230.00 price objective on the stock. Finally, Weiss Ratings restated a “buy (b-)” rating on shares of Houlihan Lokey in a report on Wednesday. One investment analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating and four have issued a Hold rating to the company. According to MarketBeat.com, Houlihan Lokey currently has a consensus rating of “Moderate Buy” and an average price target of $213.29.

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.