Charles Schwab Investment Management Inc. Buys 149,114 Shares of Houlihan Lokey, Inc. (NYSE:HLI)

Charles Schwab Investment Management Inc. grew its stake in shares of Houlihan Lokey, Inc. (NYSE:HLI) by 33.0% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 601,025 shares of the financial services provider’s stock after buying an additional 149,114 shares during the period. Charles Schwab Investment Management Inc. owned approximately 0.86% of Houlihan Lokey worth $94,974,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors also recently modified their holdings of the company. Lazard Asset Management LLC bought a new position in Houlihan Lokey during the 1st quarter worth approximately $127,000. Price T Rowe Associates Inc. MD grew its stake in Houlihan Lokey by 6.5% in the first quarter. Price T Rowe Associates Inc. MD now owns 26,709 shares of the financial services provider’s stock valued at $3,424,000 after acquiring an additional 1,631 shares during the period. Janus Henderson Group PLC increased its holdings in shares of Houlihan Lokey by 27.1% in the first quarter. Janus Henderson Group PLC now owns 30,656 shares of the financial services provider’s stock worth $3,927,000 after acquiring an additional 6,535 shares in the last quarter. Tidal Investments LLC raised its position in shares of Houlihan Lokey by 201.5% during the first quarter. Tidal Investments LLC now owns 11,093 shares of the financial services provider’s stock worth $1,422,000 after purchasing an additional 7,414 shares during the period. Finally, Cetera Investment Advisers grew its position in shares of Houlihan Lokey by 604.4% in the 1st quarter. Cetera Investment Advisers now owns 13,525 shares of the financial services provider’s stock valued at $1,734,000 after purchasing an additional 11,605 shares during the period. 78.07% of the stock is currently owned by institutional investors and hedge funds.

Houlihan Lokey Price Performance

Houlihan Lokey stock opened at $190.08 on Wednesday. The company has a market cap of $13.21 billion, a price-to-earnings ratio of 38.87 and a beta of 0.65. The firm has a 50-day moving average of $170.99 and a 200-day moving average of $152.11. Houlihan Lokey, Inc. has a one year low of $104.86 and a one year high of $192.10.

Houlihan Lokey (NYSE:HLI) last issued its quarterly earnings results on Wednesday, October 30th. The financial services provider reported $1.46 EPS for the quarter, beating the consensus estimate of $1.31 by $0.15. The firm 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 quarterly revenue was up 23.1% compared to the same quarter last year. During the same period in the prior year, the firm posted $1.11 earnings per share. As a group, sell-side analysts expect that Houlihan Lokey, Inc. will post 5.79 earnings per share for the current year.

Houlihan Lokey Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Sunday, December 15th. Shareholders of record on Monday, December 2nd will be given a dividend of $0.57 per share. This represents a $2.28 annualized dividend and a yield of 1.20%. The ex-dividend date of this dividend is Monday, December 2nd. Houlihan Lokey’s dividend payout ratio (DPR) is currently 46.63%.

Analysts Set New Price Targets

Several research analysts have recently weighed in on HLI shares. JPMorgan Chase & Co. reduced their price target on shares of Houlihan Lokey from $132.00 to $129.00 and set a “neutral” rating for the company in a report on Wednesday, July 31st. StockNews.com cut shares of Houlihan Lokey from a “buy” rating to a “hold” rating in a research report on Wednesday, November 20th. Keefe, Bruyette & Woods reiterated a “market perform” rating and set a $154.00 target price (up previously from $139.00) on shares of Houlihan Lokey in a report on Wednesday, July 31st. Morgan Stanley boosted their price target on Houlihan Lokey from $146.00 to $163.00 and gave the company an “equal weight” rating in a report on Monday, September 23rd. Finally, Wells Fargo & Company initiated coverage on Houlihan Lokey in a report on Thursday, September 12th. They set an “underweight” rating and a $149.00 price objective for the company. One analyst has rated the stock with a sell rating, five have issued a hold rating and one has given a buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $157.00.

Insider Buying and Selling at Houlihan Lokey

In other Houlihan Lokey news, Director Gillian Beth Zucker sold 200 shares of the company’s stock in a transaction 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 transaction, the director now directly owns 6,601 shares in the company, valued at $1,109,496.08. The trade was a 2.94 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, General Counsel Christopher M. Crain sold 1,000 shares of the firm’s stock in a transaction dated Tuesday, September 3rd. The stock was sold at an average price of $155.29, for a total transaction of $155,290.00. The disclosure for this sale can be found here. Insiders sold a total of 1,400 shares of company stock worth $219,362 over the last quarter. 23.68% of the stock is currently owned by insiders.

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.