Houlihan Lokey, Inc. $HLI Shares Sold by Oppenheimer Asset Management Inc.

Oppenheimer Asset Management Inc. cut its holdings in shares of Houlihan Lokey, Inc. (NYSE:HLI) by 15.0% during the second quarter, Holdings Channel.com reports. The fund owned 31,174 shares of the financial services provider’s stock after selling 5,514 shares during the period. Oppenheimer Asset Management Inc.’s holdings in Houlihan Lokey were worth $5,610,000 at the end of the most recent reporting period.

Other institutional investors have also recently modified their holdings of the company. Amundi grew its position in shares of Houlihan Lokey by 404.0% during the 1st quarter. Amundi now owns 63,433 shares of the financial services provider’s stock valued at $9,725,000 after acquiring an additional 50,847 shares during the period. New York State Teachers Retirement System grew its position in shares of Houlihan Lokey by 1.1% during the 1st quarter. New York State Teachers Retirement System now owns 17,926 shares of the financial services provider’s stock valued at $2,895,000 after acquiring an additional 200 shares during the period. OneDigital Investment Advisors LLC acquired a new stake in shares of Houlihan Lokey during the 1st quarter valued at about $210,000. Legacy Wealth Asset Management LLC grew its position in shares of Houlihan Lokey by 3.3% during the 2nd quarter. Legacy Wealth Asset Management LLC now owns 1,916 shares of the financial services provider’s stock valued at $345,000 after acquiring an additional 61 shares during the period. Finally, PNC Financial Services Group Inc. grew its position in shares of Houlihan Lokey by 31.4% during the 1st quarter. PNC Financial Services Group Inc. now owns 16,955 shares of the financial services provider’s stock valued at $2,738,000 after acquiring an additional 4,056 shares during the period. 78.07% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of research firms have recently commented on HLI. Zacks Research cut Houlihan Lokey from a “strong-buy” rating to a “hold” rating in a research report on Monday, September 29th. BMO Capital Markets initiated coverage on Houlihan Lokey in a report on Friday, October 3rd. They issued an “outperform” rating and a $230.00 price objective on the stock. Wall Street Zen cut Houlihan Lokey from a “buy” rating to a “hold” rating in a report on Saturday, August 2nd. Deutsche Bank Aktiengesellschaft initiated coverage on Houlihan Lokey in a report on Thursday, October 9th. They issued a “hold” rating and a $210.00 price objective on the stock. Finally, Morgan Stanley lifted their price objective on Houlihan Lokey from $192.00 to $213.00 and gave the stock an “overweight” rating in a report on Monday, September 8th. One research analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating and four have issued a Hold rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $212.43.

Houlihan Lokey Price Performance

HLI opened at $202.31 on Tuesday. The company’s 50 day simple moving average is $198.71 and its two-hundred day simple moving average is $185.14. Houlihan Lokey, Inc. has a 1-year low of $137.99 and a 1-year high of $211.78. The firm has a market capitalization of $14.22 billion, a price-to-earnings ratio of 34.06 and a beta of 0.87.

Houlihan Lokey (NYSE:HLI) last released its earnings results on Tuesday, July 29th. The financial services provider reported $2.14 earnings per share for the quarter, topping analysts’ consensus estimates of $1.69 by $0.45. The business 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 was up 17.8% on a year-over-year basis. During the same period last year, the company posted $1.22 EPS. On average, equities analysts anticipate that Houlihan Lokey, Inc. will post 5.98 earnings per share for the current fiscal year.

Houlihan Lokey Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, September 15th. Stockholders of record on Tuesday, September 2nd were given a dividend of $0.60 per share. This represents a $2.40 annualized dividend and a dividend yield of 1.2%. The ex-dividend date of this dividend was Tuesday, September 2nd. Houlihan Lokey’s payout ratio is presently 40.40%.

Insider Activity

In other news, Chairman Paul Eric Siegert sold 40,000 shares of Houlihan Lokey 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 is accessible through this hyperlink. Also, General Counsel Christopher M. Crain sold 500 shares of Houlihan Lokey stock in a transaction that occurred on Tuesday, September 2nd. The shares were 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. In the last 90 days, insiders have sold 47,311 shares of company stock valued at $9,477,040. 22.83% of the stock is currently owned by company insiders.

Houlihan Lokey Profile

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.