Burgundy Asset Management Ltd. Trims Stock Holdings in Houlihan Lokey, Inc. $HLI

Burgundy Asset Management Ltd. trimmed its holdings in shares of Houlihan Lokey, Inc. (NYSE:HLI) by 0.5% during the 3rd quarter, Holdings Channel reports. The institutional investor owned 1,219,617 shares of the financial services provider’s stock after selling 6,349 shares during the quarter. Houlihan Lokey makes up 2.3% of Burgundy Asset Management Ltd.’s holdings, making the stock its 8th biggest holding. Burgundy Asset Management Ltd.’s holdings in Houlihan Lokey were worth $243,009,000 at the end of the most recent reporting period.

Several other large investors also recently added to or reduced their stakes in the stock. Mayflower Financial Advisors LLC bought a new stake in shares of Houlihan Lokey in the 3rd quarter valued at approximately $230,335,000. Norges Bank purchased a new stake in Houlihan Lokey during the 2nd quarter valued at $126,723,000. Champlain Investment Partners LLC raised its holdings in Houlihan Lokey by 194.9% during the 2nd quarter. Champlain Investment Partners LLC now owns 546,340 shares of the financial services provider’s stock valued at $98,314,000 after buying an additional 361,085 shares during the period. Thrivent Financial for Lutherans lifted its position in Houlihan Lokey by 75.6% in the third quarter. Thrivent Financial for Lutherans now owns 713,494 shares of the financial services provider’s stock worth $146,495,000 after buying an additional 307,214 shares during the last quarter. Finally, Renaissance Group LLC purchased a new position in Houlihan Lokey during the second quarter worth $34,115,000. 78.07% of the stock is owned by institutional investors.

Insiders Place Their Bets

In other news, General Counsel Christopher M. Crain sold 500 shares of the company’s stock in a transaction on Friday, January 2nd. The stock was sold at an average price of $174.17, for a total transaction of $87,085.00. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, Director Robert A. Schriesheim sold 5,000 shares of the firm’s stock in a transaction on Friday, February 6th. The stock was sold at an average price of $170.86, for a total value of $854,300.00. Following the completion of the sale, the director directly owned 27,982 shares of the company’s stock, valued at $4,781,004.52. The trade was a 15.16% decrease in their position. The SEC filing for this sale provides additional information. Corporate insiders own 22.83% of the company’s stock.

Houlihan Lokey Price Performance

Shares of HLI stock opened at $161.00 on Thursday. The stock’s 50-day moving average is $174.71 and its 200 day moving average is $184.49. Houlihan Lokey, Inc. has a 1-year low of $137.99 and a 1-year high of $211.78. The company has a market cap of $11.24 billion, a P/E ratio of 24.73 and a beta of 0.95.

Houlihan Lokey (NYSE:HLI) last released its quarterly earnings results on Thursday, January 29th. The financial services provider reported $1.94 EPS for the quarter, beating the consensus estimate of $1.85 by $0.09. Houlihan Lokey had a net margin of 16.91% and a return on equity of 24.46%. During the same quarter last year, the business earned $1.64 earnings per share. The company’s revenue was up 13.0% on a year-over-year basis. On average, analysts anticipate that Houlihan Lokey, Inc. will post 5.98 EPS for the current year.

Houlihan Lokey Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Sunday, March 15th. Shareholders of record on Monday, March 2nd will be issued a $0.60 dividend. This represents a $2.40 annualized dividend and a yield of 1.5%. The ex-dividend date of this dividend is Monday, March 2nd. Houlihan Lokey’s payout ratio is currently 36.87%.

Analysts Set New Price Targets

A number of equities analysts recently commented on HLI shares. BMO Capital Markets lifted their price target on shares of Houlihan Lokey from $209.00 to $211.00 and gave the stock an “outperform” rating in a research note on Thursday, January 29th. Weiss Ratings upgraded Houlihan Lokey from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Friday, February 20th. UBS Group reiterated a “neutral” rating and issued a $196.00 price target on shares of Houlihan Lokey in a report on Friday, January 30th. Morgan Stanley decreased their price target on Houlihan Lokey from $216.00 to $215.00 and set an “overweight” rating for the company in a research note on Tuesday, January 6th. Finally, Keefe, Bruyette & Woods reduced their target price on Houlihan Lokey from $218.00 to $214.00 and set an “outperform” rating on the stock in a research note on Thursday, January 29th. Five investment analysts have rated the stock with a Buy rating and three have issued a Hold rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $209.17.

Houlihan Lokey Profile

Houlihan Lokey, Inc is a global investment bank and financial services firm founded in 1972 and headquartered in Los Angeles, California. The company specializes in advisory services across a broad range of transaction types and financial matters. Since its founding, Houlihan Lokey has grown to serve corporations, financial sponsors, and government entities worldwide, providing expertise in complex and high-stakes engagements.

The firm’s core service offerings include mergers and acquisitions advisory, capital markets advisory, financial restructuring and distressed M&A, and valuation and fairness opinions.