Legacy Wealth Asset Management LLC Purchases 61 Shares of Houlihan Lokey, Inc. $HLI

Legacy Wealth Asset Management LLC grew its holdings in shares of Houlihan Lokey, Inc. (NYSE:HLI) by 3.3% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 1,916 shares of the financial services provider’s stock after acquiring an additional 61 shares during the quarter. Legacy Wealth Asset Management LLC’s holdings in Houlihan Lokey were worth $345,000 at the end of the most recent quarter.

Other institutional investors have also recently bought and sold shares of the company. Amundi raised its stake in Houlihan Lokey by 404.0% during the first quarter. Amundi now owns 63,433 shares of the financial services provider’s stock worth $9,725,000 after acquiring an additional 50,847 shares in the last quarter. New York State Teachers Retirement System raised its stake in Houlihan Lokey by 1.1% during the first quarter. New York State Teachers Retirement System now owns 17,926 shares of the financial services provider’s stock worth $2,895,000 after acquiring an additional 200 shares in the last quarter. OneDigital Investment Advisors LLC acquired a new position in Houlihan Lokey during the first quarter worth about $210,000. PNC Financial Services Group Inc. raised its stake in Houlihan Lokey by 31.4% during the first quarter. PNC Financial Services Group Inc. now owns 16,955 shares of the financial services provider’s stock worth $2,738,000 after acquiring an additional 4,056 shares in the last quarter. Finally, GAMMA Investing LLC raised its stake in Houlihan Lokey by 145.7% during the first quarter. GAMMA Investing LLC now owns 4,250 shares of the financial services provider’s stock worth $686,000 after acquiring an additional 2,520 shares in the last quarter. Institutional investors and hedge funds own 78.07% of the company’s stock.

Analyst Ratings Changes

HLI has been the subject of several research analyst reports. BMO Capital Markets initiated coverage on Houlihan Lokey in a research note on Friday, October 3rd. They set an “outperform” rating and a $230.00 target price for the company. Deutsche Bank Aktiengesellschaft assumed coverage on Houlihan Lokey in a research note on Thursday, October 9th. They set a “hold” rating and a $210.00 target price for the company. Morgan Stanley upped their price objective on Houlihan Lokey from $192.00 to $213.00 and gave the company an “overweight” rating in a research note on Monday, September 8th. Zacks Research downgraded Houlihan Lokey from a “strong-buy” rating to a “hold” rating in a research note on Monday, September 29th. Finally, Wells Fargo & Company upped their price objective on Houlihan Lokey from $185.00 to $209.00 and gave the company an “overweight” rating in a research note on Friday, July 11th. One investment 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. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $212.43.

Insider Buying and Selling at Houlihan Lokey

In other Houlihan Lokey news, Chairman Paul Eric Siegert sold 40,000 shares of the 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 filing with the Securities & Exchange Commission, which is accessible through this link. Also, General Counsel Christopher M. Crain sold 500 shares of the 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 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 Stock Performance

NYSE:HLI opened at $193.03 on Wednesday. The company has a market capitalization of $13.57 billion, a PE ratio of 32.50 and a beta of 0.87. The company has a 50 day simple moving average of $198.30 and a two-hundred day simple moving average of $183.48. Houlihan Lokey, Inc. has a fifty-two week low of $137.99 and a fifty-two week high of $211.78.

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, beating analysts’ consensus estimates of $1.69 by $0.45. The business had revenue of $605.35 million during the quarter, compared to the consensus estimate of $573.07 million. Houlihan Lokey had a net margin of 16.46% and a return on equity of 23.75%. The company’s revenue for the quarter was up 17.8% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $1.22 EPS. Research analysts predict that Houlihan Lokey, Inc. will post 5.98 EPS for the current year.

Houlihan Lokey Dividend Announcement

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

Houlihan Lokey Company 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.