10,570 Shares in Houlihan Lokey, Inc. (HLI) Acquired by Sawgrass Asset Management LLC
Sawgrass Asset Management LLC acquired a new stake in Houlihan Lokey, Inc. (NYSE:HLI) during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund acquired 10,570 shares of the financial services provider’s stock, valued at approximately $369,000.
A number of other institutional investors and hedge funds have also recently made changes to their positions in the business. Vanguard Group Inc. increased its stake in Houlihan Lokey by 3.6% in the 2nd quarter. Vanguard Group Inc. now owns 1,661,986 shares of the financial services provider’s stock valued at $58,003,000 after buying an additional 58,257 shares during the period. Northern Trust Corp increased its stake in Houlihan Lokey by 66.9% in the 2nd quarter. Northern Trust Corp now owns 297,145 shares of the financial services provider’s stock valued at $10,371,000 after buying an additional 119,118 shares during the period. GSA Capital Partners LLP increased its stake in Houlihan Lokey by 3.5% in the 2nd quarter. GSA Capital Partners LLP now owns 49,601 shares of the financial services provider’s stock valued at $1,731,000 after buying an additional 1,691 shares during the period. Menta Capital LLC increased its stake in Houlihan Lokey by 2.8% in the 2nd quarter. Menta Capital LLC now owns 99,657 shares of the financial services provider’s stock valued at $3,478,000 after buying an additional 2,698 shares during the period. Finally, New York State Common Retirement Fund increased its stake in Houlihan Lokey by 91.9% in the 2nd quarter. New York State Common Retirement Fund now owns 23,800 shares of the financial services provider’s stock valued at $831,000 after buying an additional 11,399 shares during the period. 32.17% of the stock is currently owned by institutional investors.
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In other Houlihan Lokey news, major shareholder Orix Hlhz Holding Llc sold 686,760 shares of the firm’s stock in a transaction on Thursday, September 14th. The stock was sold at an average price of $36.26, for a total value of $24,901,917.60. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Company insiders own 69.70% of the company’s stock.
Several equities analysts have issued reports on the stock. BidaskClub cut shares of Houlihan Lokey from a “buy” rating to a “hold” rating in a research note on Thursday, August 10th. J P Morgan Chase & Co assumed coverage on shares of Houlihan Lokey in a research note on Tuesday, September 12th. They issued an “overweight” rating and a $42.00 price objective on the stock. ValuEngine raised shares of Houlihan Lokey from a “hold” rating to a “buy” rating in a research note on Friday, September 15th. TheStreet raised shares of Houlihan Lokey from a “c” rating to a “b-” rating in a research note on Monday, August 14th. Finally, Keefe, Bruyette & Woods reissued a “buy” rating and issued a $38.00 price objective on shares of Houlihan Lokey in a research note on Wednesday, June 14th. Two equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. Houlihan Lokey currently has a consensus rating of “Buy” and an average price target of $39.83.
Houlihan Lokey, Inc. (NYSE HLI) opened at 38.07 on Friday. Houlihan Lokey, Inc. has a 52 week low of $23.19 and a 52 week high of $39.68. The firm has a market capitalization of $2.55 billion, a PE ratio of 19.74 and a beta of 0.34. The firm has a 50-day moving average of $36.00 and a 200 day moving average of $34.74.
Houlihan Lokey (NYSE:HLI) last posted its earnings results on Tuesday, July 25th. The financial services provider reported $0.50 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.44 by $0.06. The company had revenue of $217.00 million for the quarter, compared to analysts’ expectations of $203.21 million. Houlihan Lokey had a return on equity of 18.63% and a net margin of 14.10%. The firm’s quarterly revenue was up 19.9% compared to the same quarter last year. During the same period last year, the business posted $0.35 earnings per share. Analysts predict that Houlihan Lokey, Inc. will post $2.04 earnings per share for the current year.
The business also recently announced a quarterly dividend, which was paid on Friday, September 15th. Shareholders of record on Friday, September 1st were paid a $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a yield of 2.10%. The ex-dividend date of this dividend was Wednesday, August 30th. Houlihan Lokey’s payout ratio is 41.67%.
About Houlihan Lokey
Houlihan Lokey, Inc is a global independent investment bank that focuses on mergers and acquisitions (M&A), capital markets, financial restructuring, valuation, and strategic consulting. The Company operates through four segments: Corporate Finance, Financial Restructuring, Financial Advisory Services and Strategic Consulting.
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