Jennison Associates LLC Has $120.95 Million Stock Position in Houlihan Lokey, Inc. $HLI

Jennison Associates LLC increased its stake in shares of Houlihan Lokey, Inc. (NYSE:HLI) by 25.4% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 589,093 shares of the financial services provider’s stock after buying an additional 119,440 shares during the quarter. Jennison Associates LLC owned about 0.84% of Houlihan Lokey worth $120,953,000 at the end of the most recent reporting period.

Other large investors have also made changes to their positions in the company. Burgundy Asset Management Ltd. lifted its stake in shares of Houlihan Lokey by 3.0% in the 2nd quarter. Burgundy Asset Management Ltd. now owns 1,225,966 shares of the financial services provider’s stock valued at $220,613,000 after acquiring an additional 36,144 shares during the last quarter. Mayflower Financial Advisors LLC acquired a new stake in Houlihan Lokey during the 3rd quarter valued at approximately $230,335,000. Bank of America Corp DE raised its holdings in Houlihan Lokey by 4.1% during the 2nd quarter. Bank of America Corp DE now owns 1,041,990 shares of the financial services provider’s stock worth $187,506,000 after purchasing an additional 41,470 shares during the last quarter. Geode Capital Management LLC lifted its holdings in Houlihan Lokey by 2.1% in the second quarter. Geode Capital Management LLC now owns 1,041,590 shares of the financial services provider’s stock valued at $187,462,000 after buying an additional 21,132 shares during the period. Finally, Raymond James Financial Inc. grew its stake in Houlihan Lokey by 10.4% during the second quarter. Raymond James Financial Inc. now owns 874,078 shares of the financial services provider’s stock worth $157,291,000 after purchasing an additional 82,002 shares during the period. Institutional investors and hedge funds own 78.07% of the company’s stock.

Insider Buying and Selling

In other Houlihan Lokey news, General Counsel Christopher M. Crain sold 500 shares of the business’s stock in a transaction dated Friday, January 2nd. The stock was sold at an average price of $174.17, for a total value of $87,085.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 22.83% of the company’s stock.

Analyst Ratings Changes

HLI has been the topic of a number of recent research reports. BMO Capital Markets started coverage on shares of Houlihan Lokey in a research note on Friday, October 3rd. They issued an “outperform” rating and a $230.00 price objective on the stock. Zacks Research downgraded Houlihan Lokey from a “strong-buy” rating to a “hold” rating in a research note on Monday, September 29th. Weiss Ratings cut Houlihan Lokey from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Monday, January 12th. Morgan Stanley dropped their price target on shares of Houlihan Lokey from $216.00 to $215.00 and set an “overweight” rating on the stock in a research note on Tuesday, January 6th. Finally, Deutsche Bank Aktiengesellschaft initiated coverage on Houlihan Lokey in a research report on Thursday, October 9th. They set a “hold” rating and a $210.00 target price on the stock. One analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating and six have issued a Hold rating to the stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $206.29.

Houlihan Lokey Stock Down 3.1%

Shares of NYSE:HLI opened at $186.14 on Friday. The company’s fifty day moving average is $179.14 and its 200 day moving average is $189.25. Houlihan Lokey, Inc. has a 52 week low of $137.99 and a 52 week high of $211.78. The stock has a market cap of $13.04 billion, a PE ratio of 30.02 and a beta of 0.95.

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, beating the consensus estimate of $1.69 by $0.15. The company had revenue of $659.45 million for the quarter, compared to analysts’ expectations of $639.08 million. Houlihan Lokey had a net margin of 16.62% and a return on equity of 24.17%. Houlihan Lokey’s quarterly revenue was up 14.7% on a year-over-year basis. During the same quarter in the previous year, the company earned $1.46 earnings per share. Sell-side analysts anticipate that Houlihan Lokey, Inc. will post 5.98 EPS for the current year.

Houlihan Lokey Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, December 15th. Stockholders of record on Monday, December 1st were issued a dividend of $0.60 per share. This represents a $2.40 dividend on an annualized basis and a dividend yield of 1.3%. The ex-dividend date of this dividend was Monday, December 1st. Houlihan Lokey’s dividend payout ratio is presently 38.71%.

Houlihan Lokey Company 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.