NewEdge Advisors LLC Decreases Stock Position in Houlihan Lokey, Inc. $HLI

NewEdge Advisors LLC decreased its position in Houlihan Lokey, Inc. (NYSE:HLI) by 64.5% in the 1st quarter, Holdings Channel reports. The fund owned 7,651 shares of the financial services provider’s stock after selling 13,915 shares during the period. NewEdge Advisors LLC’s holdings in Houlihan Lokey were worth $1,099,000 as of its most recent SEC filing.

A number of other hedge funds also recently made changes to their positions in the company. Pier Capital LLC increased its stake in Houlihan Lokey by 62.3% during the 4th quarter. Pier Capital LLC now owns 44,000 shares of the financial services provider’s stock worth $7,664,000 after buying an additional 16,894 shares during the period. M&T Bank Corp purchased a new position in Houlihan Lokey in the 4th quarter valued at about $4,467,000. Fideuram Intesa Sanpaolo Private Banking S.P.A. acquired a new stake in shares of Houlihan Lokey during the fourth quarter valued at about $1,942,000. New Age Alpha Advisors LLC grew its stake in shares of Houlihan Lokey by 169.1% during the fourth quarter. New Age Alpha Advisors LLC now owns 30,856 shares of the financial services provider’s stock valued at $5,375,000 after acquiring an additional 19,388 shares in the last quarter. Finally, Fenimore Asset Management Inc increased its position in shares of Houlihan Lokey by 16.2% during the fourth quarter. Fenimore Asset Management Inc now owns 123,672 shares of the financial services provider’s stock worth $21,542,000 after acquiring an additional 17,199 shares during the last quarter. Hedge funds and other institutional investors own 78.07% of the company’s stock.

Insider Buying and Selling

In other Houlihan Lokey news, Chairman Scott L. Beiser sold 6,265 shares of Houlihan Lokey stock in a transaction on Thursday, May 21st. The shares were sold at an average price of $150.26, for a total value of $941,378.90. Following the completion of the transaction, the chairman owned 6,265 shares of the company’s stock, valued at $941,378.90. The trade was a 50.00% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this link. 22.53% of the stock is currently owned by corporate insiders.

Houlihan Lokey Stock Performance

NYSE:HLI opened at $125.64 on Tuesday. The company has a market capitalization of $8.68 billion, a price-to-earnings ratio of 21.12, a price-to-earnings-growth ratio of 1.46 and a beta of 0.95. Houlihan Lokey, Inc. has a one year low of $112.83 and a one year high of $211.78. The stock has a 50-day simple moving average of $135.89 and a 200 day simple moving average of $147.29.

Houlihan Lokey (NYSE:HLI) last released 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). The firm had revenue of $511.00 million for the quarter, compared to the consensus estimate of $602.38 million. Houlihan Lokey had a return on equity of 20.20% and a net margin of 16.10%.The company’s quarterly revenue was down 15.6% on a year-over-year basis. During the same period in the prior year, the business earned $2.14 EPS. On average, equities research analysts forecast that Houlihan Lokey, Inc. will post 7.01 EPS for the current fiscal year.

Houlihan Lokey Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 15th. Investors of record on Tuesday, September 1st will be paid a dividend of $0.70 per share. The ex-dividend date is Tuesday, September 1st. This represents a $2.80 annualized dividend and a yield of 2.2%. Houlihan Lokey’s dividend payout ratio (DPR) is 47.06%.

Wall Street Analysts Forecast Growth

A number of research analysts recently commented on the company. Zacks Research raised Houlihan Lokey from a “strong sell” rating to a “hold” rating in a report on Thursday, June 11th. Bank of America began coverage on Houlihan Lokey in a report on Friday, July 10th. They set a “buy” rating and a $164.00 price objective on the stock. US Capital Advisors set a $187.00 target price on Houlihan Lokey in a research report on Thursday, July 9th. UBS Group reduced their target price on Houlihan Lokey from $161.00 to $147.00 and set a “neutral” rating for the company in a research note on Thursday, July 30th. Finally, Wall Street Zen downgraded shares of Houlihan Lokey from a “hold” rating to a “sell” rating in a research report on Saturday, August 8th. Five research analysts have rated the stock with a Buy rating and five have given a Hold rating to the company. Based on data from MarketBeat.com, Houlihan Lokey has an average rating of “Moderate Buy” and an average target price of $166.38.

About Houlihan Lokey

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.