Houlihan Lokey, Inc. (NYSE:HLI) Shares Sold by Eventide Asset Management LLC

Eventide Asset Management LLC reduced its holdings in Houlihan Lokey, Inc. (NYSE:HLI) by 28.1% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 168,910 shares of the financial services provider’s stock after selling 65,970 shares during the period. Eventide Asset Management LLC owned about 0.24% of Houlihan Lokey worth $26,691,000 at the end of the most recent quarter.

Several other institutional investors also recently bought and sold shares of HLI. Millennium Management LLC boosted its stake in shares of Houlihan Lokey by 24,074.0% in the second quarter. Millennium Management LLC now owns 501,610 shares of the financial services provider’s stock worth $67,647,000 after acquiring an additional 499,535 shares during the last quarter. Fiera Capital Corp boosted its stake in shares of Houlihan Lokey by 666.8% in the third quarter. Fiera Capital Corp now owns 283,702 shares of the financial services provider’s stock worth $44,831,000 after acquiring an additional 246,705 shares during the last quarter. Charles Schwab Investment Management Inc. boosted its stake in shares of Houlihan Lokey by 33.0% in the third quarter. Charles Schwab Investment Management Inc. now owns 601,025 shares of the financial services provider’s stock worth $94,974,000 after acquiring an additional 149,114 shares during the last quarter. Eagle Asset Management Inc. boosted its stake in shares of Houlihan Lokey by 23.6% in the third quarter. Eagle Asset Management Inc. now owns 693,109 shares of the financial services provider’s stock worth $109,525,000 after acquiring an additional 132,516 shares during the last quarter. Finally, PineStone Asset Management Inc. acquired a new stake in shares of Houlihan Lokey in the second quarter worth approximately $10,141,000. 78.07% of the stock is owned by institutional investors and hedge funds.

Houlihan Lokey Stock Performance

Shares of Houlihan Lokey stock opened at $187.43 on Friday. Houlihan Lokey, Inc. has a one year low of $104.86 and a one year high of $192.10. The company has a market cap of $13.03 billion, a price-to-earnings ratio of 38.33 and a beta of 0.65. The business’s 50 day moving average price is $172.84 and its 200 day moving average price is $152.98.

Houlihan Lokey (NYSE:HLI) last announced its quarterly earnings data on Wednesday, October 30th. The financial services provider reported $1.46 EPS for the quarter, topping analysts’ consensus estimates of $1.31 by $0.15. Houlihan Lokey had a return on equity of 19.29% and a net margin of 15.77%. The firm had revenue of $574.96 million for the quarter, compared to the consensus estimate of $537.93 million. During the same quarter last year, the business posted $1.11 earnings per share. The firm’s revenue was up 23.1% compared to the same quarter last year. On average, analysts predict that Houlihan Lokey, Inc. will post 5.79 EPS for the current fiscal year.

Houlihan Lokey Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Sunday, December 15th. Investors of record on Monday, December 2nd will be given a dividend of $0.57 per share. This represents a $2.28 dividend on an annualized basis and a dividend yield of 1.22%. The ex-dividend date is Monday, December 2nd. Houlihan Lokey’s payout ratio is 46.63%.

Insider Activity at Houlihan Lokey

In other news, Director Gillian Beth Zucker sold 200 shares of the firm’s stock in a transaction on Friday, September 13th. The stock was sold at an average price of $152.28, for a total transaction of $30,456.00. Following the completion of the transaction, the director now directly owns 6,801 shares in the company, valued at $1,035,656.28. This trade represents a 2.86 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, General Counsel Christopher M. Crain sold 1,000 shares of Houlihan Lokey stock in a transaction on Tuesday, September 3rd. The shares were sold at an average price of $155.29, for a total value of $155,290.00. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 1,400 shares of company stock worth $219,362. Company insiders own 23.68% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts have recently issued reports on the company. Morgan Stanley lifted their price target on Houlihan Lokey from $146.00 to $163.00 and gave the stock an “equal weight” rating in a research note on Monday, September 23rd. Wells Fargo & Company assumed coverage on Houlihan Lokey in a research note on Thursday, September 12th. They issued an “underweight” rating and a $149.00 price target on the stock. UBS Group lifted their price target on Houlihan Lokey from $170.00 to $190.00 and gave the stock a “buy” rating in a research note on Tuesday, October 8th. Finally, StockNews.com lowered Houlihan Lokey from a “buy” rating to a “hold” rating in a research note on Wednesday, November 20th. One analyst has rated the stock with a sell rating, five have given a hold rating and one has issued a buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $157.00.

Houlihan Lokey Profile

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.