Houlihan Lokey, Inc. $HLI Stock Acquired by Fenimore Asset Management Inc

Fenimore Asset Management Inc grew its stake in Houlihan Lokey, Inc. (NYSE:HLI) by 52.9% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 256,760 shares of the financial services provider’s stock after buying an additional 88,862 shares during the period. Fenimore Asset Management Inc’s holdings in Houlihan Lokey were worth $32,439,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently modified their holdings of the stock. Annis Gardner Whiting Capital Advisors LLC raised its stake in Houlihan Lokey by 103.4% during the 1st quarter. Annis Gardner Whiting Capital Advisors LLC now owns 236 shares of the financial services provider’s stock worth $34,000 after acquiring an additional 120 shares in the last quarter. Harbor Investment Advisory LLC acquired a new position in Houlihan Lokey in the second quarter valued at $55,000. Versant Capital Management Inc boosted its stake in Houlihan Lokey by 91.0% in the second quarter. Versant Capital Management Inc now owns 510 shares of the financial services provider’s stock valued at $68,000 after acquiring an additional 243 shares in the last quarter. Steph & Co. grew its holdings in shares of Houlihan Lokey by 55.6% during the first quarter. Steph & Co. now owns 974 shares of the financial services provider’s stock worth $140,000 after purchasing an additional 348 shares during the last quarter. Finally, Caitong International Asset Management Co. Ltd purchased a new position in shares of Houlihan Lokey during the fourth quarter worth about $171,000. 78.07% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several research firms have recently weighed in on HLI. Zacks Research downgraded Houlihan Lokey from a “hold” rating to a “strong sell” rating in a report on Friday, August 21st. BMO Capital Markets dropped their price target on Houlihan Lokey from $160.00 to $145.00 and set an “outperform” rating on the stock in a research note on Monday, August 3rd. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Houlihan Lokey in a research report on Friday, July 17th. Wolfe Research upgraded Houlihan Lokey from an “underperform” rating to a “peer perform” rating in a research note on Thursday, July 9th. Finally, Wall Street Zen cut Houlihan Lokey from a “hold” rating to a “sell” rating in a research note on Saturday, August 8th. Five investment analysts have rated the stock with a Buy rating, four have given a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, Houlihan Lokey has an average rating of “Hold” and an average price target of $165.75.

Houlihan Lokey Stock Performance

Houlihan Lokey stock traded up $0.53 during midday trading on Thursday, hitting $125.75. 926,519 shares of the company’s stock were exchanged, compared to its average volume of 731,721. The stock has a market cap of $8.68 billion, a price-to-earnings ratio of 21.13, a price-to-earnings-growth ratio of 1.47 and a beta of 1.00. Houlihan Lokey, Inc. has a 12-month low of $112.83 and a 12-month high of $204.18. The firm’s 50 day simple moving average is $130.14 and its 200 day simple moving average is $139.69.

Houlihan Lokey (NYSE:HLI) last announced its earnings results on Wednesday, July 29th. The financial services provider reported $1.35 EPS for the quarter, missing analysts’ consensus estimates of $1.64 by ($0.29). Houlihan Lokey had a net margin of 16.10% and a return on equity of 20.20%. The business had revenue of $511.00 million during the quarter, compared to analysts’ expectations of $602.38 million. During the same period in the previous year, the company posted $2.14 earnings per share. Houlihan Lokey’s quarterly revenue was down 15.6% on a year-over-year basis. On average, equities research analysts forecast that Houlihan Lokey, Inc. will post 6.93 EPS for the current fiscal year.

Houlihan Lokey Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, September 15th. Shareholders of record on Tuesday, September 1st were paid a dividend of $0.70 per share. The ex-dividend date of this dividend was Tuesday, September 1st. This represents a $2.80 annualized dividend and a yield of 2.2%. Houlihan Lokey’s dividend payout ratio is currently 47.06%.

Insider Buying and Selling

In other Houlihan Lokey news, General Counsel Christopher M. Crain sold 1,000 shares of the stock in a transaction that occurred on Thursday, September 10th. The stock was sold at an average price of $140.15, for a total transaction of $140,150.00. Following the completion of the sale, the general counsel directly owned 1,000 shares of the company’s stock, valued at approximately $140,150. This trade represents a 50.00% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 22.53% of the stock is currently owned by corporate insiders.

Houlihan Lokey Company Profile

Houlihan Lokey, Inc is a global investment bank that provides financial advisory services to corporations, institutions, governments and other organizations. The firm focuses on complex strategic, financial and restructuring matters and is known for its independent advisory model.

Its principal businesses include corporate finance, financial restructuring, and financial and valuation advisory. Services include mergers and acquisitions advice, capital-raising and other strategic transactions, restructuring and liability management, fairness opinions, solvency analysis, financial reporting valuations, and transaction opinions.

Founded in 1972, Houlihan Lokey serves clients through offices across North America, Europe, the Asia-Pacific region and the Middle East.