Fmr LLC cut its stake in Houlihan Lokey, Inc. (NYSE:HLI) by 69.4% during the first quarter, Holdings Channel reports. The firm owned 36,700 shares of the financial services provider’s stock after selling 83,276 shares during the period. Fmr LLC’s holdings in Houlihan Lokey were worth $1,264,000 as of its most recent SEC filing.

A number of other hedge funds have also modified their holdings of the company. JPMorgan Chase & Co. boosted its stake in shares of Houlihan Lokey by 144.6% in the first quarter. JPMorgan Chase & Co. now owns 349,067 shares of the financial services provider’s stock valued at $12,026,000 after buying an additional 206,370 shares during the period. Wells Fargo & Company MN boosted its stake in shares of Houlihan Lokey by 626.5% in the first quarter. Wells Fargo & Company MN now owns 233,665 shares of the financial services provider’s stock valued at $8,050,000 after buying an additional 201,501 shares during the period. Clinton Group Inc. boosted its stake in shares of Houlihan Lokey by 128.5% in the first quarter. Clinton Group Inc. now owns 35,734 shares of the financial services provider’s stock valued at $1,231,000 after buying an additional 20,095 shares during the period. State Street Corp boosted its stake in shares of Houlihan Lokey by 9.3% in the fourth quarter. State Street Corp now owns 185,431 shares of the financial services provider’s stock valued at $5,773,000 after buying an additional 15,820 shares during the period. Finally, Swiss National Bank boosted its stake in shares of Houlihan Lokey by 73.4% in the first quarter. Swiss National Bank now owns 35,436 shares of the financial services provider’s stock valued at $1,221,000 after buying an additional 15,000 shares during the period. Institutional investors and hedge funds own 32.33% of the company’s stock.

Shares of Houlihan Lokey, Inc. (NYSE HLI) opened at 36.39 on Friday. The firm has a market cap of $2.44 billion, a PE ratio of 18.86 and a beta of 0.31. The firm has a 50-day moving average of $35.93 and a 200 day moving average of $33.64. Houlihan Lokey, Inc. has a 52 week low of $23.19 and a 52 week high of $39.68.

Houlihan Lokey (NYSE:HLI) last issued its earnings results on Tuesday, July 25th. The financial services provider reported $0.50 earnings per share for the quarter, topping analysts’ consensus estimates of $0.44 by $0.06. The firm had revenue of $217 million during the quarter, compared to analyst estimates of $203.21 million. Houlihan Lokey had a net margin of 14.10% and a return on equity of 18.94%. The company’s quarterly revenue was up 19.9% on a year-over-year basis. During the same quarter last year, the business earned $0.35 earnings per share. Equities research analysts predict that Houlihan Lokey, Inc. will post $2.05 EPS for the current fiscal year.

The firm also recently announced a quarterly dividend, which will be paid on Friday, September 15th. Shareholders of record on Friday, September 1st will be given a dividend of $0.20 per share. The ex-dividend date of this dividend is Wednesday, August 30th. This represents a $0.80 dividend on an annualized basis and a yield of 2.20%. Houlihan Lokey’s dividend payout ratio is presently 41.67%.

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Several analysts have weighed in on HLI shares. Zacks Investment Research cut shares of Houlihan Lokey from a “hold” rating to a “sell” rating in a research note on Tuesday, April 18th. Keefe, Bruyette & Woods reiterated a “buy” rating and issued a $40.00 price objective on shares of Houlihan Lokey in a research note on Thursday, July 27th. UBS AG reiterated a “buy” rating and issued a $42.00 price objective (up previously from $40.00) on shares of Houlihan Lokey in a research note on Wednesday, July 26th. Bank of America Corporation cut shares of Houlihan Lokey from a “buy” rating to a “neutral” rating and lifted their price objective for the stock from $36.00 to $38.00 in a research note on Thursday, May 11th. They noted that the move was a valuation call. Finally, BidaskClub cut shares of Houlihan Lokey from a “strong-buy” rating to a “buy” rating in a research note on Tuesday, July 25th. Three research analysts have rated the stock with a hold rating and four have given a buy rating to the stock. The stock currently has a consensus rating of “Buy” and an average price target of $39.40.

Houlihan Lokey Company Profile

Houlihan Lokey, Inc is a global independent investment bank that focuses on mergers and acquisitions (M&A), financings, financial restructurings and financial advisory services. The Company operates through three segments: Corporate Finance, Financial Restructuring and Financial Advisory Services. The Company serves a set of clients across the world, including corporations, financial sponsors and government agencies.

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

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