Houlihan Lokey, Inc. (HLI) Holdings Lessened by Convergence Investment Partners LLC
Convergence Investment Partners LLC lessened its holdings in shares of Houlihan Lokey, Inc. (NYSE:HLI) by 71.0% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 5,625 shares of the financial services provider’s stock after selling 13,800 shares during the period. Convergence Investment Partners LLC’s holdings in Houlihan Lokey were worth $220,000 at the end of the most recent reporting period.
Several other large investors have also made changes to their positions in the business. OxFORD Asset Management LLP boosted its position in shares of Houlihan Lokey by 4.8% during the third quarter. OxFORD Asset Management LLP now owns 98,705 shares of the financial services provider’s stock valued at $3,856,000 after buying an additional 4,534 shares during the period. Dimensional Fund Advisors LP boosted its position in shares of Houlihan Lokey by 108.3% during the third quarter. Dimensional Fund Advisors LP now owns 329,233 shares of the financial services provider’s stock valued at $12,883,000 after buying an additional 171,153 shares during the period. Hillsdale Investment Management Inc. purchased a new position in shares of Houlihan Lokey during the third quarter valued at approximately $1,287,000. Schwab Charles Investment Management Inc. boosted its position in shares of Houlihan Lokey by 157.1% during the third quarter. Schwab Charles Investment Management Inc. now owns 120,570 shares of the financial services provider’s stock valued at $4,718,000 after buying an additional 73,670 shares during the period. Finally, Wells Fargo & Company MN boosted its holdings in shares of Houlihan Lokey by 53.9% in the third quarter. Wells Fargo & Company MN now owns 354,501 shares of the financial services provider’s stock valued at $13,871,000 after purchasing an additional 124,177 shares during the period. Institutional investors and hedge funds own 34.63% of the company’s stock.
Shares of Houlihan Lokey, Inc. (NYSE:HLI) opened at $44.79 on Friday. The company has a current ratio of 0.92, a quick ratio of 0.92 and a debt-to-equity ratio of 0.02. The firm has a market capitalization of $2,914.92, a price-to-earnings ratio of 19.94, a price-to-earnings-growth ratio of 2.95 and a beta of 0.42. Houlihan Lokey, Inc. has a twelve month low of $29.51 and a twelve month high of $45.14.
Houlihan Lokey (NYSE:HLI) last issued its quarterly earnings results on Tuesday, October 24th. The financial services provider reported $0.56 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.41 by $0.15. The business had revenue of $242.20 million for the quarter, compared to the consensus estimate of $207.72 million. Houlihan Lokey had a return on equity of 19.71% and a net margin of 14.58%. The business’s quarterly revenue was up 29.9% on a year-over-year basis. During the same period in the prior year, the firm posted $0.37 earnings per share. equities analysts forecast that Houlihan Lokey, Inc. will post 2.1 EPS for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Friday, December 15th. Stockholders of record on Monday, December 4th will be given a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a dividend yield of 1.79%. The ex-dividend date of this dividend is Friday, December 1st. Houlihan Lokey’s payout ratio is presently 37.91%.
In related news, CEO Scott L. Beiser sold 63,688 shares of the company’s stock in a transaction on Monday, October 30th. The stock was sold at an average price of $41.63, for a total value of $2,651,331.44. Following the transaction, the chief executive officer now directly owns 78,108 shares of the company’s stock, valued at approximately $3,251,636.04. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, major shareholder Orix Hlhz Holding Llc sold 686,760 shares of the company’s stock in a transaction on Thursday, September 14th. The shares were sold at an average price of $36.26, for a total value of $24,901,917.60. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 2,807,387 shares of company stock worth $113,183,620. Insiders own 69.70% of the company’s stock.
A number of analysts recently issued reports on HLI shares. Zacks Investment Research upgraded Houlihan Lokey from a “hold” rating to a “strong-buy” rating and set a $45.00 price target for the company in a report on Thursday, October 12th. BidaskClub upgraded Houlihan Lokey from a “hold” rating to a “buy” rating in a report on Saturday, August 26th. UBS boosted their price target on Houlihan Lokey from $44.00 to $47.00 and gave the company a “buy” rating in a report on Wednesday, October 25th. ValuEngine upgraded Houlihan Lokey from a “hold” rating to a “buy” rating in a report on Friday, September 15th. Finally, J P Morgan Chase & Co began coverage on Houlihan Lokey in a report on Tuesday, September 12th. They set an “overweight” rating and a $42.00 target price for the company. Two analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and a consensus target price of $42.33.
Houlihan Lokey Profile
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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