New York State Teachers Retirement System Acquires 100 Shares of Houlihan Lokey, Inc. (NYSE:HLI)

New York State Teachers Retirement System boosted its holdings in Houlihan Lokey, Inc. (NYSE:HLI) by 0.6% in the third quarter, HoldingsChannel reports. The firm owned 17,238 shares of the financial services provider’s stock after purchasing an additional 100 shares during the period. New York State Teachers Retirement System’s holdings in Houlihan Lokey were worth $2,724,000 at the end of the most recent quarter.

A number of other hedge funds have also added to or reduced their stakes in HLI. Millennium Management LLC boosted its position in shares of Houlihan Lokey by 24,074.0% during the 2nd quarter. Millennium Management LLC now owns 501,610 shares of the financial services provider’s stock worth $67,647,000 after purchasing an additional 499,535 shares in the last quarter. PineStone Asset Management Inc. acquired a new position in Houlihan Lokey during the 2nd quarter worth approximately $10,141,000. Earnest Partners LLC boosted its holdings in Houlihan Lokey by 1.9% in the second quarter. Earnest Partners LLC now owns 3,273,818 shares of the financial services provider’s stock worth $441,507,000 after acquiring an additional 62,314 shares in the last quarter. Sei Investments Co. grew its stake in Houlihan Lokey by 6.2% in the second quarter. Sei Investments Co. now owns 776,335 shares of the financial services provider’s stock valued at $104,697,000 after acquiring an additional 45,205 shares during the period. Finally, Kayne Anderson Rudnick Investment Management LLC increased its holdings in shares of Houlihan Lokey by 1.3% during the second quarter. Kayne Anderson Rudnick Investment Management LLC now owns 3,087,898 shares of the financial services provider’s stock valued at $416,434,000 after acquiring an additional 38,155 shares in the last quarter. 78.07% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of brokerages recently issued reports on HLI. JPMorgan Chase & Co. cut their target price on Houlihan Lokey from $132.00 to $129.00 and set a “neutral” rating on the stock in a report on Wednesday, July 31st. Wells Fargo & Company initiated coverage on shares of Houlihan Lokey in a research note on Thursday, September 12th. They issued an “underweight” rating and a $149.00 price objective on the stock. Keefe, Bruyette & Woods reissued a “market perform” rating and set a $154.00 target price (up from $139.00) on shares of Houlihan Lokey in a research report on Wednesday, July 31st. UBS Group raised their price target on shares of Houlihan Lokey from $170.00 to $190.00 and gave the company a “buy” rating in a research report on Tuesday, October 8th. Finally, Morgan Stanley boosted their price objective on Houlihan Lokey from $146.00 to $163.00 and gave the stock an “equal weight” rating in a report on Monday, September 23rd. One analyst has rated the stock with a sell rating, four have given a hold rating and one has issued a buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $157.00.

Insider Buying and Selling at Houlihan Lokey

In other news, Chairman Scott L. Beiser sold 8,317 shares of Houlihan Lokey stock in a transaction on Friday, August 16th. The stock was sold at an average price of $151.89, for a total transaction of $1,263,269.13. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In related news, Chairman Scott L. Beiser sold 8,317 shares of the firm’s stock in a transaction dated Friday, August 16th. The shares were sold at an average price of $151.89, for a total transaction of $1,263,269.13. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Gillian Beth Zucker sold 200 shares of the business’s stock in a transaction dated Monday, October 14th. The shares were sold at an average price of $168.08, for a total transaction of $33,616.00. Following the completion of the transaction, the director now owns 6,601 shares in the company, valued at approximately $1,109,496.08. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 9,917 shares of company stock worth $1,513,129 in the last quarter. 23.68% of the stock is currently owned by company insiders.

Houlihan Lokey Price Performance

HLI opened at $183.60 on Friday. Houlihan Lokey, Inc. has a fifty-two week low of $100.92 and a fifty-two week high of $189.17. The firm has a market capitalization of $12.77 billion, a P/E ratio of 37.55 and a beta of 0.65. The company’s 50-day moving average is $162.90 and its 200 day moving average is $147.08.

Houlihan Lokey (NYSE:HLI) last posted its earnings results on Wednesday, October 30th. The financial services provider reported $1.46 EPS for the quarter, topping the consensus estimate of $1.31 by $0.15. The firm had revenue of $574.96 million for the quarter, compared to analysts’ expectations of $537.93 million. Houlihan Lokey had a net margin of 15.77% and a return on equity of 19.29%. The company’s quarterly revenue was up 23.1% compared to the same quarter last year. During the same quarter last year, the firm earned $1.11 EPS. On average, equities research analysts expect that Houlihan Lokey, Inc. will post 5.79 earnings per share for the current year.

Houlihan Lokey Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Sunday, December 15th. Shareholders of record on Monday, December 2nd will be given a $0.57 dividend. The ex-dividend date of this dividend is Monday, December 2nd. This represents a $2.28 annualized dividend and a yield of 1.24%. Houlihan Lokey’s dividend payout ratio is currently 46.63%.

About Houlihan Lokey

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.