Congress Asset Management Co. Lowers Stock Holdings in Houlihan Lokey, Inc. $HLI

Congress Asset Management Co. lessened its position in Houlihan Lokey, Inc. (NYSE:HLI) by 14.3% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 375,300 shares of the financial services provider’s stock after selling 62,760 shares during the quarter. Congress Asset Management Co. owned approximately 0.53% of Houlihan Lokey worth $77,057,000 at the end of the most recent reporting period.

Several other hedge funds have also recently bought and sold shares of the company. Brooklyn Investment Group purchased a new stake in Houlihan Lokey during the first quarter worth about $33,000. Trust Co. of Toledo NA OH acquired a new position in shares of Houlihan Lokey in the second quarter valued at approximately $34,000. Strategic Wealth Investment Group LLC purchased a new stake in Houlihan Lokey during the 2nd quarter worth approximately $39,000. MAI Capital Management lifted its holdings in Houlihan Lokey by 268.0% during the 2nd quarter. MAI Capital Management now owns 368 shares of the financial services provider’s stock worth $66,000 after buying an additional 268 shares in the last quarter. Finally, BI Asset Management Fondsmaeglerselskab A S acquired a new stake in Houlihan Lokey during the 1st quarter worth approximately $81,000. Institutional investors and hedge funds own 78.07% of the company’s stock.

Houlihan Lokey Price Performance

NYSE:HLI opened at $176.51 on Friday. Houlihan Lokey, Inc. has a 12 month low of $137.99 and a 12 month high of $211.78. The firm has a market capitalization of $12.37 billion, a PE ratio of 28.47 and a beta of 0.95. The business’s fifty day moving average price is $182.43 and its 200 day moving average price is $188.54.

Houlihan Lokey (NYSE:HLI) last announced its quarterly earnings results on Thursday, October 30th. The financial services provider reported $1.84 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.69 by $0.15. Houlihan Lokey had a return on equity of 24.17% and a net margin of 16.62%.The company had revenue of $659.45 million during the quarter, compared to the consensus estimate of $639.08 million. During the same period in the previous year, the business earned $1.46 EPS. Houlihan Lokey’s revenue for the quarter was up 14.7% on a year-over-year basis. As a group, equities analysts anticipate that Houlihan Lokey, Inc. will post 5.98 EPS for the current year.

Houlihan Lokey Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, December 15th. Investors of record on Monday, December 1st were issued a $0.60 dividend. This represents a $2.40 dividend on an annualized basis and a yield of 1.4%. The ex-dividend date of this dividend was Monday, December 1st. Houlihan Lokey’s dividend payout ratio is 38.71%.

Analysts Set New Price Targets

HLI has been the subject of several research reports. Morgan Stanley boosted their price target on shares of Houlihan Lokey from $192.00 to $213.00 and gave the stock an “overweight” rating in a research note on Monday, September 8th. Zacks Research lowered Houlihan Lokey from a “strong-buy” rating to a “hold” rating in a report on Monday, September 29th. Weiss Ratings restated a “buy (b-)” rating on shares of Houlihan Lokey in a report on Monday, December 15th. UBS Group initiated coverage on Houlihan Lokey in a research report on Thursday, December 11th. They issued a “neutral” rating and a $193.00 price target on the stock. Finally, Deutsche Bank Aktiengesellschaft assumed coverage on Houlihan Lokey in a research note on Thursday, October 9th. They issued a “hold” rating and a $210.00 price objective for the company. One investment analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating and five have issued a Hold rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $207.43.

Houlihan Lokey Profile

Houlihan Lokey, Inc is a global investment bank and financial services firm founded in 1972 and headquartered in Los Angeles, California. The company specializes in advisory services across a broad range of transaction types and financial matters. Since its founding, Houlihan Lokey has grown to serve corporations, financial sponsors, and government entities worldwide, providing expertise in complex and high-stakes engagements.

The firm’s core service offerings include mergers and acquisitions advisory, capital markets advisory, financial restructuring and distressed M&A, and valuation and fairness opinions.