Texas Permanent School Fund Corp Sells 6,605 Shares of Houlihan Lokey, Inc. (NYSE:HLI)

Texas Permanent School Fund Corp reduced its holdings in Houlihan Lokey, Inc. (NYSE:HLI) by 14.5% in the 2nd quarter, Holdings Channel reports. The fund owned 39,009 shares of the financial services provider’s stock after selling 6,605 shares during the quarter. Texas Permanent School Fund Corp’s holdings in Houlihan Lokey were worth $5,261,000 at the end of the most recent quarter.

Several other large investors also recently modified their holdings of the business. Ameritas Investment Partners Inc. increased its holdings in shares of Houlihan Lokey by 0.5% in the first quarter. Ameritas Investment Partners Inc. now owns 18,293 shares of the financial services provider’s stock worth $2,345,000 after acquiring an additional 97 shares in the last quarter. Private Advisor Group LLC increased its holdings in shares of Houlihan Lokey by 3.3% in the fourth quarter. Private Advisor Group LLC now owns 3,198 shares of the financial services provider’s stock worth $383,000 after acquiring an additional 102 shares in the last quarter. Park Avenue Securities LLC increased its holdings in shares of Houlihan Lokey by 1.4% in the second quarter. Park Avenue Securities LLC now owns 8,532 shares of the financial services provider’s stock worth $1,151,000 after acquiring an additional 120 shares in the last quarter. EverSource Wealth Advisors LLC increased its holdings in shares of Houlihan Lokey by 12.1% in the fourth quarter. EverSource Wealth Advisors LLC now owns 1,139 shares of the financial services provider’s stock worth $137,000 after acquiring an additional 123 shares in the last quarter. Finally, Portside Wealth Group LLC increased its holdings in shares of Houlihan Lokey by 6.3% in the second quarter. Portside Wealth Group LLC now owns 2,224 shares of the financial services provider’s stock worth $300,000 after acquiring an additional 131 shares in the last quarter. 78.07% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several equities research analysts have issued reports on the company. Morgan Stanley increased their price target on Houlihan Lokey from $131.00 to $148.00 and gave the stock an “equal weight” rating in a report on Tuesday, July 23rd. Keefe, Bruyette & Woods reiterated a “market perform” rating and set a $154.00 price objective (up from $139.00) on shares of Houlihan Lokey in a report on Wednesday, July 31st. Wells Fargo & Company assumed coverage on Houlihan Lokey in a report on Thursday. They set an “underweight” rating and a $149.00 price objective for the company. UBS Group increased their price objective on Houlihan Lokey from $157.00 to $170.00 and gave the stock a “buy” rating in a report on Wednesday, July 31st. Finally, JPMorgan Chase & Co. decreased their price objective on Houlihan Lokey from $132.00 to $129.00 and set a “neutral” rating for the company in a report on Wednesday, July 31st. One analyst has rated the stock with a sell rating, five have assigned a hold rating and one has assigned a buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $150.00.

Houlihan Lokey Stock Performance

Shares of NYSE HLI opened at $151.45 on Friday. The stock has a 50 day moving average price of $148.25 and a 200 day moving average price of $136.21. Houlihan Lokey, Inc. has a 52 week low of $94.67 and a 52 week high of $157.58. The stock has a market capitalization of $10.39 billion, a PE ratio of 36.85 and a beta of 0.67.

Houlihan Lokey (NYSE:HLI) last issued its quarterly earnings results on Tuesday, July 30th. The financial services provider reported $1.22 EPS for the quarter, meeting the consensus estimate of $1.22. Houlihan Lokey had a return on equity of 18.80% and a net margin of 15.30%. The firm had revenue of $514.00 million during the quarter, compared to analysts’ expectations of $508.70 million. During the same period in the prior year, the firm posted $0.89 earnings per share. The business’s quarterly revenue was up 23.6% compared to the same quarter last year. As a group, research analysts forecast that Houlihan Lokey, Inc. will post 5.64 EPS for the current year.

Houlihan Lokey Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Sunday, September 15th. Investors of record on Tuesday, September 3rd will be given a dividend of $0.57 per share. The ex-dividend date is Tuesday, September 3rd. This represents a $2.28 annualized dividend and a yield of 1.51%. Houlihan Lokey’s dividend payout ratio (DPR) is presently 55.47%.

Insider Activity

In other news, Chairman Irwin Gold sold 9,902 shares of the firm’s stock in a transaction that occurred on Friday, June 28th. The stock was sold at an average price of $135.25, for a total value of $1,339,245.50. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In other news, Chairman Irwin Gold sold 9,902 shares of the firm’s stock in a transaction that occurred on Friday, June 28th. The stock was sold at an average price of $135.25, for a total value of $1,339,245.50. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Chairman Scott L. Beiser sold 8,317 shares of the firm’s stock in a transaction that occurred on Friday, August 16th. The shares were sold at an average price of $151.89, for a total value of $1,263,269.13. The disclosure for this sale can be found here. Insiders sold a total of 19,419 shares of company stock valued at $2,788,303 over the last three months. Insiders own 25.97% of the company’s stock.

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.