State of New Jersey Common Pension Fund D Sells 4,064 Shares of Houlihan Lokey, Inc. (NYSE:HLI)

State of New Jersey Common Pension Fund D cut its position in shares of Houlihan Lokey, Inc. (NYSE:HLI) by 19.1% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 17,169 shares of the financial services provider’s stock after selling 4,064 shares during the period. State of New Jersey Common Pension Fund D’s holdings in Houlihan Lokey were worth $2,713,000 as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in the company. Crossmark Global Holdings Inc. boosted its position in shares of Houlihan Lokey by 25.2% during the 3rd quarter. Crossmark Global Holdings Inc. now owns 4,688 shares of the financial services provider’s stock valued at $741,000 after acquiring an additional 944 shares during the last quarter. Montanaro Asset Management Ltd raised its stake in Houlihan Lokey by 3.2% during the third quarter. Montanaro Asset Management Ltd now owns 151,000 shares of the financial services provider’s stock valued at $23,861,000 after purchasing an additional 4,750 shares in the last quarter. Axxcess Wealth Management LLC bought a new position in Houlihan Lokey during the third quarter valued at $254,000. Atria Investments Inc grew its stake in shares of Houlihan Lokey by 3.7% in the 3rd quarter. Atria Investments Inc now owns 22,497 shares of the financial services provider’s stock worth $3,555,000 after buying an additional 809 shares in the last quarter. Finally, Bridges Investment Management Inc. increased its holdings in shares of Houlihan Lokey by 3.6% in the 3rd quarter. Bridges Investment Management Inc. now owns 4,758 shares of the financial services provider’s stock worth $752,000 after buying an additional 167 shares during the last quarter. Hedge funds and other institutional investors own 78.07% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts recently commented on the stock. Keefe, Bruyette & Woods reaffirmed a “market perform” rating and issued a $154.00 price target (up previously 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 research note on Thursday, September 12th. They issued an “underweight” rating and a $149.00 price objective for the company. 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 research report on Wednesday, July 31st. Morgan Stanley raised their price target on Houlihan Lokey from $146.00 to $163.00 and gave the stock an “equal weight” rating in a research report on Monday, September 23rd. Finally, UBS Group boosted their price objective 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. One research analyst has rated the stock with a sell rating, four have given a hold rating and two have issued a buy rating to the company. According to data from MarketBeat.com, Houlihan Lokey presently has an average rating of “Hold” and an average price target of $157.00.

Insider Transactions at Houlihan Lokey

In related news, Chairman Scott L. Beiser sold 8,317 shares of the business’s stock in a transaction that occurred on Friday, August 16th. The stock was sold at an average price of $151.89, for a total value of $1,263,269.13. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. In related news, Chairman Scott L. Beiser sold 8,317 shares of Houlihan Lokey stock in a transaction dated Friday, August 16th. The stock was sold at an average price of $151.89, for a total value of $1,263,269.13. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Gillian Beth Zucker sold 200 shares of the stock in a transaction dated Monday, October 14th. The stock was sold at an average price of $168.08, for a total transaction of $33,616.00. Following 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. Over the last three months, insiders have sold 9,917 shares of company stock valued at $1,513,129. 23.68% of the stock is currently owned by company insiders.

Houlihan Lokey Stock Performance

Shares of HLI stock opened at $185.66 on Thursday. The stock has a 50 day moving average price of $165.53 and a 200 day moving average price of $148.87. Houlihan Lokey, Inc. has a 52-week low of $102.29 and a 52-week high of $190.66. The firm has a market capitalization of $12.91 billion, a P/E ratio of 37.97 and a beta of 0.65.

Houlihan Lokey (NYSE:HLI) last released its earnings results on Wednesday, October 30th. The financial services provider reported $1.46 earnings per share for the quarter, topping the consensus estimate of $1.31 by $0.15. The business had revenue of $574.96 million during the quarter, compared to the consensus estimate 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 for the quarter was up 23.1% compared to the same quarter last year. During the same period last year, the company earned $1.11 earnings per share. As a group, sell-side analysts forecast that Houlihan Lokey, Inc. will post 5.79 EPS for the current year.

Houlihan Lokey Dividend Announcement

The business 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 1.23%. Houlihan Lokey’s dividend payout ratio (DPR) is 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.