Allspring Global Investments Holdings LLC Cuts Stock Position in Houlihan Lokey, Inc. (NYSE:HLI)

Allspring Global Investments Holdings LLC decreased its stake in shares of Houlihan Lokey, Inc. (NYSE:HLI) by 62.4% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 4,790 shares of the financial services provider’s stock after selling 7,952 shares during the quarter. Allspring Global Investments Holdings LLC’s holdings in Houlihan Lokey were worth $574,000 at the end of the most recent quarter.

Other hedge funds have also added to or reduced their stakes in the company. Raymond James & Associates raised its position in shares of Houlihan Lokey by 14.6% in the 4th quarter. Raymond James & Associates now owns 137,643 shares of the financial services provider’s stock worth $16,505,000 after purchasing an additional 17,544 shares during the last quarter. Nordea Investment Management AB increased its stake in Houlihan Lokey by 3.6% during the 3rd quarter. Nordea Investment Management AB now owns 427,325 shares of the financial services provider’s stock valued at $46,121,000 after purchasing an additional 14,893 shares in the last quarter. Assenagon Asset Management S.A. purchased a new position in Houlihan Lokey in the fourth quarter worth about $1,358,000. Wellington Management Group LLP lifted its stake in shares of Houlihan Lokey by 56.1% in the third quarter. Wellington Management Group LLP now owns 2,723,687 shares of the financial services provider’s stock worth $291,761,000 after buying an additional 978,776 shares in the last quarter. Finally, Bank of Nova Scotia purchased a new stake in shares of Houlihan Lokey during the third quarter valued at approximately $1,562,000. 78.07% of the stock is owned by institutional investors.

Insiders Place Their Bets

In related news, General Counsel Christopher M. Crain sold 1,000 shares of the company’s stock in a transaction on Friday, March 1st. The shares were sold at an average price of $128.94, for a total transaction of $128,940.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 25.97% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

A number of equities analysts recently weighed in on HLI shares. JMP Securities restated a “market perform” rating on shares of Houlihan Lokey in a report on Tuesday, April 9th. UBS Group upped their price target on Houlihan Lokey from $136.00 to $142.00 and gave the company a “buy” rating in a report on Friday, February 2nd. Finally, Keefe, Bruyette & Woods reiterated a “market perform” rating and issued a $127.00 price objective on shares of Houlihan Lokey in a report on Monday, January 29th.

Houlihan Lokey Stock Down 0.8 %

NYSE HLI opened at $127.03 on Friday. Houlihan Lokey, Inc. has a 52 week low of $84.89 and a 52 week high of $133.80. The firm has a market capitalization of $8.78 billion, a P/E ratio of 31.52 and a beta of 0.68. The company has a 50-day moving average price of $127.15 and a 200-day moving average price of $117.91.

Houlihan Lokey (NYSE:HLI) last announced its quarterly earnings data on Thursday, February 1st. The financial services provider reported $1.22 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.12 by $0.10. Houlihan Lokey had a return on equity of 18.06% and a net margin of 14.90%. The company had revenue of $511.30 million during the quarter, compared to the consensus estimate of $493.02 million. During the same period in the previous year, the company posted $1.14 EPS. The firm’s revenue was up 12.0% on a year-over-year basis. As a group, equities research analysts anticipate that Houlihan Lokey, Inc. will post 4.42 EPS for the current year.

Houlihan Lokey Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, March 15th. Investors of record on Friday, March 1st were issued a $0.55 dividend. The ex-dividend date was Thursday, February 29th. This represents a $2.20 dividend on an annualized basis and a yield of 1.73%. Houlihan Lokey’s dividend payout ratio is presently 54.59%.

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.