Houlihan Lokey, Inc. (NYSE:HLI) Position Increased by Summit Financial LLC

Summit Financial LLC lifted its holdings in Houlihan Lokey, Inc. (NYSE:HLI) by 18.4% during the second quarter, according to the company in its most recent filing with the SEC. The fund owned 1,994 shares of the financial services provider’s stock after buying an additional 310 shares during the quarter. Summit Financial LLC’s holdings in Houlihan Lokey were worth $269,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also modified their holdings of HLI. Barlow Wealth Partners Inc. grew its stake in Houlihan Lokey by 2.1% during the 2nd quarter. Barlow Wealth Partners Inc. now owns 177,181 shares of the financial services provider’s stock worth $25,296,000 after buying an additional 3,575 shares during the last quarter. Van ECK Associates Corp increased its holdings in shares of Houlihan Lokey by 19.8% in the 2nd quarter. Van ECK Associates Corp now owns 23,368 shares of the financial services provider’s stock worth $3,151,000 after acquiring an additional 3,862 shares during the period. Hantz Financial Services Inc. bought a new stake in Houlihan Lokey in the 2nd quarter valued at about $439,000. Crewe Advisors LLC boosted its stake in Houlihan Lokey by 264.5% during the 2nd quarter. Crewe Advisors LLC now owns 226 shares of the financial services provider’s stock valued at $30,000 after purchasing an additional 164 shares during the period. Finally, Zurcher Kantonalbank Zurich Cantonalbank grew its position in Houlihan Lokey by 2.6% in the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 11,169 shares of the financial services provider’s stock worth $1,506,000 after purchasing an additional 283 shares during the last quarter. 78.07% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of equities research analysts have recently weighed in on the company. Keefe, Bruyette & Woods reaffirmed a “market perform” rating and set a $154.00 price target (up previously from $139.00) on shares of Houlihan Lokey in a report on Wednesday, July 31st. Morgan Stanley increased their price target on Houlihan Lokey from $131.00 to $148.00 and gave the stock an “equal weight” rating in a research note on Tuesday, July 23rd. UBS Group upped their price objective on shares of Houlihan Lokey from $157.00 to $170.00 and gave the stock a “buy” rating in a report on Wednesday, July 31st. Finally, JPMorgan Chase & Co. lowered their target price on shares of Houlihan Lokey from $132.00 to $129.00 and set a “neutral” rating on the stock in a research note on Wednesday, July 31st. Five analysts have rated the stock with a hold rating and one has assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $150.25.

Houlihan Lokey Stock Down 0.1 %

NYSE:HLI opened at $151.31 on Thursday. The business’s 50-day moving average price is $146.22 and its 200 day moving average price is $135.38. Houlihan Lokey, Inc. has a 52-week low of $94.67 and a 52-week high of $157.58. The firm has a market cap of $10.38 billion, a P/E ratio of 36.82 and a beta of 0.67.

Houlihan Lokey (NYSE:HLI) last announced its quarterly earnings data on Tuesday, July 30th. The financial services provider reported $1.22 earnings per share (EPS) for the quarter, hitting the consensus estimate of $1.22. Houlihan Lokey had a net margin of 15.30% and a return on equity of 18.80%. The company had revenue of $514.00 million for the quarter, compared to analysts’ expectations of $508.70 million. During the same quarter in the previous year, the company posted $0.89 EPS. The business’s revenue was up 23.6% compared to the same quarter last year. Sell-side analysts expect that Houlihan Lokey, Inc. will post 5.64 EPS for the current year.

Houlihan Lokey Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Sunday, September 15th. Investors of record on Tuesday, September 3rd will be issued a $0.57 dividend. This represents a $2.28 dividend on an annualized basis and a dividend yield of 1.51%. The ex-dividend date of this dividend is Tuesday, September 3rd. Houlihan Lokey’s payout ratio is 55.47%.

Insider Transactions at Houlihan Lokey

In related news, Chairman Irwin Gold sold 9,902 shares of Houlihan Lokey stock in a transaction dated Friday, June 28th. The stock was sold at an average price of $135.25, for a total value of $1,339,245.50. The sale was disclosed in a legal filing with the SEC, which is available at this link. In related news, Chairman Irwin Gold sold 9,902 shares of the firm’s stock in a transaction that occurred on Friday, June 28th. The shares were sold at an average price of $135.25, for a total value of $1,339,245.50. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Chairman Scott L. Beiser sold 8,317 shares of Houlihan Lokey stock in a transaction that occurred on Friday, August 16th. The stock was sold at an average price of $151.89, for a total transaction of $1,263,269.13. The disclosure for this sale can be found here. Insiders have sold 19,419 shares of company stock valued at $2,788,303 over the last three months. Company insiders own 25.97% of the company’s stock.

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.