DAVENPORT & Co LLC Sells 717 Shares of Houlihan Lokey, Inc. (NYSE:HLI)

DAVENPORT & Co LLC lowered its holdings in Houlihan Lokey, Inc. (NYSE:HLI) by 3.5% in the fourth quarter, Holdings Channel reports. The firm owned 19,663 shares of the financial services provider’s stock after selling 717 shares during the quarter. DAVENPORT & Co LLC’s holdings in Houlihan Lokey were worth $3,415,000 as of its most recent SEC filing.

A number of other hedge funds have also added to or reduced their stakes in the business. State Street Corp grew its position in Houlihan Lokey by 1.3% in the third quarter. State Street Corp now owns 1,615,467 shares of the financial services provider’s stock valued at $255,276,000 after purchasing an additional 21,106 shares in the last quarter. Geode Capital Management LLC grew its position in Houlihan Lokey by 2.8% in the third quarter. Geode Capital Management LLC now owns 970,559 shares of the financial services provider’s stock valued at $153,405,000 after purchasing an additional 26,564 shares in the last quarter. Eagle Asset Management Inc. grew its position in Houlihan Lokey by 23.6% in the third quarter. Eagle Asset Management Inc. now owns 693,109 shares of the financial services provider’s stock valued at $109,525,000 after purchasing an additional 132,516 shares in the last quarter. Charles Schwab Investment Management Inc. grew its position in Houlihan Lokey by 33.0% in the third quarter. Charles Schwab Investment Management Inc. now owns 601,025 shares of the financial services provider’s stock valued at $94,974,000 after purchasing an additional 149,114 shares in the last quarter. Finally, Natixis Advisors LLC grew its position in Houlihan Lokey by 2.5% in the third quarter. Natixis Advisors LLC now owns 399,388 shares of the financial services provider’s stock valued at $63,111,000 after purchasing an additional 9,768 shares in the last quarter. Institutional investors own 78.07% of the company’s stock.

Houlihan Lokey Stock Performance

NYSE HLI opened at $180.24 on Wednesday. The firm has a 50-day moving average of $178.39 and a 200-day moving average of $167.81. The stock has a market cap of $12.53 billion, a PE ratio of 34.40 and a beta of 0.69. Houlihan Lokey, Inc. has a 52-week low of $121.81 and a 52-week high of $192.10.

Houlihan Lokey (NYSE:HLI) last posted its earnings results on Tuesday, January 28th. The financial services provider reported $1.64 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.51 by $0.13. Houlihan Lokey had a net margin of 16.00% and a return on equity of 20.04%. As a group, analysts predict that Houlihan Lokey, Inc. will post 5.91 EPS for the current fiscal year.

Houlihan Lokey Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Saturday, March 15th. Stockholders of record on Monday, March 3rd will be paid a dividend of $0.57 per share. This represents a $2.28 dividend on an annualized basis and a dividend yield of 1.26%. The ex-dividend date of this dividend is Monday, March 3rd. Houlihan Lokey’s dividend payout ratio is presently 43.51%.

Analyst Ratings Changes

A number of research analysts recently weighed in on the stock. JPMorgan Chase & Co. decreased their target price on shares of Houlihan Lokey from $172.00 to $169.00 and set a “neutral” rating for the company in a research report on Wednesday, January 29th. UBS Group lifted their price objective on shares of Houlihan Lokey from $229.00 to $230.00 and gave the company a “buy” rating in a research report on Wednesday, January 29th. StockNews.com downgraded shares of Houlihan Lokey from a “buy” rating to a “hold” rating in a research report on Wednesday. JMP Securities reissued a “market perform” rating on shares of Houlihan Lokey in a research report on Wednesday, January 29th. Finally, Wells Fargo & Company lifted their price objective on shares of Houlihan Lokey from $178.00 to $180.00 and gave the company an “underweight” rating in a research report on Wednesday, January 29th. Two analysts have rated the stock with a sell rating, four have issued a hold rating and one has issued a buy rating to the company’s stock. According to MarketBeat, Houlihan Lokey has a consensus rating of “Hold” and an average price target of $194.40.

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.