Raymond James & Associates Reduces Stock Position in Houlihan Lokey, Inc. (NYSE:HLI)

Raymond James & Associates cut its stake in Houlihan Lokey, Inc. (NYSE:HLI – Get Rating) by 1.4% in the 4th quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 69,635 shares of the financial services provider’s stock after selling 956 shares during the quarter. Raymond James & Associates’ holdings in Houlihan Lokey were worth $6,069,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently made changes to their positions in HLI. Ellevest Inc. grew its holdings in Houlihan Lokey by 155.2% during the 4th quarter. Ellevest Inc. now owns 296 shares of the financial services provider’s stock valued at $26,000 after buying an additional 180 shares in the last quarter. Belpointe Asset Management LLC purchased a new stake in Houlihan Lokey in the 4th quarter worth approximately $26,000. Bessemer Group Inc. bought a new position in Houlihan Lokey in the 3rd quarter valued at $31,000. UMB Bank n.a. raised its position in shares of Houlihan Lokey by 332.9% in the fourth quarter. UMB Bank n.a. now owns 645 shares of the financial services provider’s stock worth $56,000 after buying an additional 496 shares in the last quarter. Finally, Van ECK Associates Corp increased its stake in Houlihan Lokey by 9.8% in the 4th quarter. Van ECK Associates Corp now owns 1,979 shares of the financial services provider’s stock worth $172,000 after acquiring an additional 176 shares during the last quarter. 70.74% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Separately, StockNews.com began coverage on shares of Houlihan Lokey in a research report on Thursday. They issued a “hold” rating on the stock. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and two have given a buy rating to the company. Based on data from MarketBeat.com, Houlihan Lokey presently has a consensus rating of “Hold” and an average price target of $89.60.

Houlihan Lokey Trading Down 1.2 %

HLI opened at $87.74 on Monday. The stock has a market capitalization of $6.02 billion, a P/E ratio of 22.50 and a beta of 0.76. Houlihan Lokey, Inc. has a 12-month low of $74.18 and a 12-month high of $102.36. The stock has a 50-day moving average price of $89.34 and a 200-day moving average price of $92.97.

Houlihan Lokey (NYSE:HLI – Get Rating) last issued its quarterly earnings results on Tuesday, May 9th. The financial services provider reported $1.11 EPS for the quarter, beating analysts’ consensus estimates of $0.88 by $0.23. The business had revenue of $444.77 million for the quarter, compared to analysts’ expectations of $423.96 million. Houlihan Lokey had a net margin of 14.88% and a return on equity of 21.48%. The business’s quarterly revenue was down 5.6% on a year-over-year basis. During the same period last year, the business earned $1.30 earnings per share. On average, equities research analysts predict that Houlihan Lokey, Inc. will post 4.74 EPS for the current year.

Houlihan Lokey Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, June 15th. Shareholders of record on Friday, June 2nd will be paid a $0.55 dividend. The ex-dividend date of this dividend is Thursday, June 1st. This is an increase from Houlihan Lokey’s previous quarterly dividend of $0.53. This represents a $2.20 annualized dividend and a yield of 2.51%. Houlihan Lokey’s payout ratio is currently 54.36%.

Houlihan Lokey Profile

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Houlihan Lokey, Inc engages in the provision of investment banking services. It operates through the following segments: Corporate Finance, Financial Restructuring and Financial and Valuation Advisory. The Corporate Finance segment provides general financial advisory services in addition to advice on mergers and acquisitions and capital markets offering.