Axxcess Wealth Management LLC Makes New Investment in Houlihan Lokey, Inc. (NYSE:HLI)

Axxcess Wealth Management LLC purchased a new position in Houlihan Lokey, Inc. (NYSE:HLI) in the 3rd quarter, HoldingsChannel.com reports. The institutional investor purchased 1,608 shares of the financial services provider’s stock, valued at approximately $254,000.

Several other institutional investors have also added to or reduced their stakes in HLI. Atria Investments Inc raised its stake in shares of Houlihan Lokey by 3.7% in the third quarter. Atria Investments Inc now owns 22,497 shares of the financial services provider’s stock worth $3,555,000 after purchasing an additional 809 shares during the last quarter. Bridges Investment Management Inc. raised its stake in shares of Houlihan Lokey by 3.6% in the third quarter. Bridges Investment Management Inc. now owns 4,758 shares of the financial services provider’s stock worth $752,000 after purchasing an additional 167 shares during the last quarter. Assetmark Inc. raised its stake in shares of Houlihan Lokey by 2,482.4% in the third quarter. Assetmark Inc. now owns 9,813 shares of the financial services provider’s stock worth $1,551,000 after purchasing an additional 9,433 shares during the last quarter. Fiera Capital Corp raised 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 purchasing an additional 246,705 shares during the last quarter. Finally, Portside Wealth Group LLC raised its stake in shares of Houlihan Lokey by 10.4% in the third quarter. Portside Wealth Group LLC now owns 2,456 shares of the financial services provider’s stock worth $388,000 after purchasing an additional 232 shares during the last quarter. Institutional investors and hedge funds own 78.07% of the company’s stock.

Houlihan Lokey Trading Down 0.8 %

Shares of HLI stock opened at $184.15 on Friday. The stock has a 50 day moving average of $166.18 and a 200 day moving average of $149.11. The stock has a market cap of $12.80 billion, a P/E ratio of 37.66 and a beta of 0.65. Houlihan Lokey, Inc. has a twelve month low of $102.29 and a twelve month high of $190.66.

Houlihan Lokey (NYSE:HLI) last posted its quarterly earnings data on Wednesday, October 30th. The financial services provider reported $1.46 EPS for the quarter, beating analysts’ consensus estimates of $1.31 by $0.15. The business had revenue of $574.96 million during the quarter, compared to analysts’ expectations of $537.93 million. Houlihan Lokey had a return on equity of 19.29% and a net margin of 15.77%. The business’s revenue was up 23.1% compared to the same quarter last year. During the same period in the previous year, the business earned $1.11 earnings per share. On average, research analysts predict that Houlihan Lokey, Inc. will post 5.79 earnings per share 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. Stockholders of record on Monday, December 2nd will be given a $0.57 dividend. This represents a $2.28 dividend on an annualized basis and a dividend yield of 1.24%. The ex-dividend date of this dividend is Monday, December 2nd. Houlihan Lokey’s dividend payout ratio (DPR) is presently 46.63%.

Analyst Ratings Changes

Several research analysts have recently issued reports on HLI shares. Wells Fargo & Company started coverage on Houlihan Lokey in a research note on Thursday, September 12th. They issued an “underweight” rating and a $149.00 price objective for the company. UBS Group raised their price objective on Houlihan Lokey from $170.00 to $190.00 and gave the stock a “buy” rating in a research note on Tuesday, October 8th. JPMorgan Chase & Co. reduced their price objective on Houlihan Lokey from $132.00 to $129.00 and set a “neutral” rating for the company in a research note on Wednesday, July 31st. StockNews.com upgraded Houlihan Lokey from a “hold” rating to a “buy” rating in a research report on Tuesday. Finally, Keefe, Bruyette & Woods reiterated a “market perform” rating and set a $154.00 price target (up from $139.00) on shares of Houlihan Lokey in a research report on Wednesday, July 31st. One analyst has rated the stock with a sell rating, four have given a hold rating and two have assigned a buy rating to the company’s stock. Based on data from MarketBeat, Houlihan Lokey currently has an average rating of “Hold” and an average target price of $157.00.

Insider Activity

In other news, General Counsel Christopher M. Crain sold 1,000 shares of the business’s stock in a transaction that occurred on Tuesday, September 3rd. The stock was sold at an average price of $155.29, for a total value of $155,290.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Gillian Beth Zucker sold 200 shares of the business’s stock in a transaction that occurred on Monday, October 14th. The shares were sold at an average price of $168.08, for a total value of $33,616.00. Following the completion of the sale, the director now owns 6,601 shares of the company’s stock, valued at $1,109,496.08. This trade represents a 2.94 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 1,600 shares of company stock worth $249,860 over the last three months. 23.68% of the stock is currently owned by corporate insiders.

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.