Houlihan Lokey, Inc. (NYSE:HLI) Shares Sold by Jennison Associates LLC

Jennison Associates LLC reduced its stake in Houlihan Lokey, Inc. (NYSE:HLI) by 44.5% during the 3rd quarter, Holdings Channel reports. The institutional investor owned 69,689 shares of the financial services provider’s stock after selling 55,865 shares during the period. Jennison Associates LLC’s holdings in Houlihan Lokey were worth $11,012,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in HLI. PNC Financial Services Group Inc. raised its stake in shares of Houlihan Lokey by 2.9% in the third quarter. PNC Financial Services Group Inc. now owns 13,945 shares of the financial services provider’s stock valued at $2,204,000 after acquiring an additional 387 shares in the last quarter. OneAscent Financial Services LLC purchased a new stake in shares of Houlihan Lokey in the third quarter valued at about $332,000. Pathstone Holdings LLC boosted its holdings in shares of Houlihan Lokey by 0.5% in the third quarter. Pathstone Holdings LLC now owns 21,787 shares of the financial services provider’s stock valued at $3,443,000 after acquiring an additional 115 shares in the last quarter. OneAscent Wealth Management LLC purchased a new position in shares of Houlihan Lokey during the 3rd quarter worth approximately $330,000. Finally, Quest Partners LLC acquired a new stake in shares of Houlihan Lokey in the third quarter valued at about $92,000. Hedge funds and other institutional investors own 78.07% of the company’s stock.

Insider Buying and Selling at Houlihan Lokey

In related news, General Counsel Christopher M. Crain sold 1,000 shares of Houlihan Lokey stock in a transaction on Tuesday, September 3rd. The shares were sold at an average price of $155.29, for a total value of $155,290.00. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Gillian Beth Zucker sold 200 shares of the business’s stock in a transaction on 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 directly owns 6,601 shares of the company’s stock, valued at approximately $1,109,496.08. This represents a 2.94 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 1,400 shares of company stock worth $219,362 over the last three months. Corporate insiders own 23.68% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts have weighed in on HLI shares. StockNews.com downgraded shares of Houlihan Lokey from a “buy” rating to a “hold” rating in a report on Wednesday. JPMorgan Chase & Co. cut their target price on shares of Houlihan Lokey from $132.00 to $129.00 and set a “neutral” rating on the stock in a research note on Wednesday, July 31st. Morgan Stanley boosted their price objective on shares of Houlihan Lokey from $146.00 to $163.00 and gave the stock an “equal weight” rating in a report on Monday, September 23rd. UBS Group increased their price objective on shares of Houlihan Lokey from $170.00 to $190.00 and gave the company a “buy” rating in a research note on Tuesday, October 8th. Finally, Keefe, Bruyette & Woods reiterated a “market perform” rating and issued a $154.00 price target (up from $139.00) on shares of Houlihan Lokey in a report on Wednesday, July 31st. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and one has issued a buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Hold” and an average target price of $157.00.

Houlihan Lokey Stock Up 0.1 %

Houlihan Lokey stock opened at $188.77 on Friday. The stock has a market cap of $13.12 billion, a P/E ratio of 38.60 and a beta of 0.65. Houlihan Lokey, Inc. has a 12 month low of $104.86 and a 12 month high of $191.39. The company’s fifty day simple moving average is $169.62 and its 200-day simple moving average is $151.09.

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

Houlihan Lokey Dividend Announcement

The firm also recently announced 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 1.21%. The ex-dividend date is Monday, December 2nd. Houlihan Lokey’s payout ratio is 46.63%.

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.