Houlihan Lokey, Inc. (NYSE:HLI) Shares Sold by Pictet Asset Management SA

Pictet Asset Management SA reduced its holdings in shares of Houlihan Lokey, Inc. (NYSE:HLIGet Rating) by 45.8% in the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 21,967 shares of the financial services provider’s stock after selling 18,553 shares during the quarter. Pictet Asset Management SA’s holdings in Houlihan Lokey were worth $1,734,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also made changes to their positions in HLI. Flputnam Investment Management Co. boosted its position in shares of Houlihan Lokey by 1.8% in the 2nd quarter. Flputnam Investment Management Co. now owns 183,443 shares of the financial services provider’s stock valued at $14,479,000 after purchasing an additional 3,310 shares during the period. TownSquare Capital LLC acquired a new stake in shares of Houlihan Lokey in the 2nd quarter valued at about $243,000. Keybank National Association OH acquired a new stake in shares of Houlihan Lokey in the 2nd quarter valued at about $422,000. Riverwater Partners LLC acquired a new stake in shares of Houlihan Lokey in the 2nd quarter valued at about $205,000. Finally, Illinois Municipal Retirement Fund boosted its position in shares of Houlihan Lokey by 72.3% in the 2nd quarter. Illinois Municipal Retirement Fund now owns 18,964 shares of the financial services provider’s stock valued at $1,497,000 after purchasing an additional 7,955 shares during the period.

Analyst Upgrades and Downgrades

A number of analysts recently issued reports on HLI shares. UBS Group decreased their target price on Houlihan Lokey from $105.00 to $102.00 and set a “buy” rating for the company in a research report on Friday, July 29th. Morgan Stanley upped their price objective on Houlihan Lokey from $75.00 to $78.00 and gave the company an “equal weight” rating in a research note on Monday, October 31st. Finally, StockNews.com began coverage on Houlihan Lokey in a research note on Wednesday, October 12th. They set a “hold” rating for the company. One analyst has rated the stock with a sell rating, two have issued a hold rating and three have given a buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $88.25.

Houlihan Lokey Trading Up 0.4 %

Shares of HLI stock opened at $97.54 on Tuesday. The company has a market cap of $6.70 billion, a price-to-earnings ratio of 18.03 and a beta of 0.72. The stock has a 50 day simple moving average of $84.54 and a 200-day simple moving average of $82.90. Houlihan Lokey, Inc. has a 12-month low of $74.18 and a 12-month high of $122.62.

Houlihan Lokey (NYSE:HLIGet Rating) last issued its earnings results on Thursday, October 27th. The financial services provider reported $1.19 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.04 by $0.15. The business had revenue of $489.54 million during the quarter, compared to the consensus estimate of $427.32 million. Houlihan Lokey had a return on equity of 30.44% and a net margin of 16.33%. On average, equities analysts forecast that Houlihan Lokey, Inc. will post 4.6 earnings per share for the current fiscal year.

Houlihan Lokey Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, December 15th. Stockholders of record on Friday, December 2nd will be paid a dividend of $0.53 per share. This represents a $2.12 dividend on an annualized basis and a dividend yield of 2.17%. The ex-dividend date is Thursday, December 1st. Houlihan Lokey’s dividend payout ratio (DPR) is 39.19%.

Insider Transactions at Houlihan Lokey

In related news, CEO Scott L. Beiser sold 16,367 shares of the company’s stock in a transaction that occurred on Monday, November 7th. The stock was sold at an average price of $93.28, for a total value of $1,526,713.76. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Company insiders own 27.90% of the company’s stock.

About Houlihan Lokey

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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.

Further Reading

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Institutional Ownership by Quarter for Houlihan Lokey (NYSE:HLI)

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