Whittier Trust Co. Acquires 1,703 Shares of Houlihan Lokey, Inc. $HLI

Whittier Trust Co. increased its stake in Houlihan Lokey, Inc. (NYSE:HLI) by 2.5% in the 2nd quarter, HoldingsChannel reports. The institutional investor owned 69,809 shares of the financial services provider’s stock after purchasing an additional 1,703 shares during the quarter. Whittier Trust Co.’s holdings in Houlihan Lokey were worth $12,562,000 as of its most recent SEC filing.

Several other large investors also recently made changes to their positions in the stock. Bogart Wealth LLC boosted its holdings in shares of Houlihan Lokey by 111.1% in the 1st quarter. Bogart Wealth LLC now owns 152 shares of the financial services provider’s stock valued at $25,000 after buying an additional 80 shares during the last quarter. First Horizon Advisors Inc. boosted its holdings in shares of Houlihan Lokey by 17.5% in the 1st quarter. First Horizon Advisors Inc. now owns 550 shares of the financial services provider’s stock valued at $89,000 after buying an additional 82 shares during the last quarter. Callan Family Office LLC boosted its holdings in shares of Houlihan Lokey by 6.2% in the 1st quarter. Callan Family Office LLC now owns 1,500 shares of the financial services provider’s stock valued at $242,000 after buying an additional 87 shares during the last quarter. Vista Finance LLC boosted its holdings in shares of Houlihan Lokey by 4.1% in the 2nd quarter. Vista Finance LLC now owns 2,228 shares of the financial services provider’s stock valued at $401,000 after buying an additional 87 shares during the last quarter. Finally, Assetmark Inc. boosted its holdings in shares of Houlihan Lokey by 0.9% in the 1st quarter. Assetmark Inc. now owns 10,653 shares of the financial services provider’s stock valued at $1,720,000 after buying an additional 93 shares during the last quarter. Institutional investors and hedge funds own 78.07% of the company’s stock.

Houlihan Lokey Price Performance

Shares of Houlihan Lokey stock opened at $193.03 on Wednesday. The business has a fifty day simple moving average of $198.30 and a two-hundred day simple moving average of $183.48. Houlihan Lokey, Inc. has a 1 year low of $137.99 and a 1 year high of $211.78. The company has a market capitalization of $13.57 billion, a price-to-earnings ratio of 32.50 and a beta of 0.87.

Houlihan Lokey (NYSE:HLI) last announced its quarterly earnings results on Tuesday, July 29th. The financial services provider reported $2.14 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.69 by $0.45. Houlihan Lokey had a return on equity of 23.75% and a net margin of 16.46%.The business had revenue of $605.35 million during the quarter, compared to the consensus estimate of $573.07 million. During the same quarter last year, the firm posted $1.22 EPS. The company’s quarterly revenue was up 17.8% on a year-over-year basis. As a group, 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 disclosed 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. The ex-dividend date was Tuesday, September 2nd. This represents a $2.40 annualized dividend and a yield of 1.2%. Houlihan Lokey’s dividend payout ratio (DPR) is presently 40.40%.

Wall Street Analysts Forecast Growth

HLI has been the subject of several recent analyst reports. 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 for the company. Keefe, Bruyette & Woods cut their price objective on Houlihan Lokey from $232.00 to $226.00 and set a “moderate buy” rating for the company in a report on Monday, October 13th. 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 for the company. Wall Street Zen downgraded Houlihan Lokey from a “buy” rating to a “hold” rating in a report on Saturday, August 2nd. Finally, Weiss Ratings reissued a “buy (b-)” rating on shares of Houlihan Lokey in a report on Wednesday, October 8th. One analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating and four have given a Hold rating to the company. Based on data from MarketBeat.com, Houlihan Lokey has an average rating of “Moderate Buy” and an average price target of $212.43.

Insiders Place Their Bets

In other Houlihan Lokey news, General Counsel Christopher M. Crain sold 500 shares of the stock in a transaction on Tuesday, September 2nd. The stock was sold at an average price of $196.22, for a total transaction of $98,110.00. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Chairman Irwin Gold sold 6,811 shares of the stock in a transaction on Tuesday, September 16th. The stock was sold at an average price of $202.75, for a total value of $1,380,930.25. The disclosure for this sale can be found here. Insiders have sold 47,311 shares of company stock worth $9,477,040 in the last 90 days. Company insiders own 22.83% of the company’s stock.

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.