Oppenheimer Asset Management Inc. Increases Position in Houlihan Lokey, Inc. (NYSE:HLI)

Oppenheimer Asset Management Inc. grew its holdings in Houlihan Lokey, Inc. (NYSE:HLI) by 28.8% in the first quarter, according to its most recent disclosure with the SEC. The fund owned 36,688 shares of the financial services provider’s stock after buying an additional 8,198 shares during the period. Oppenheimer Asset Management Inc.’s holdings in Houlihan Lokey were worth $5,925,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also made changes to their positions in the business. Private Trust Co. NA purchased a new position in Houlihan Lokey during the fourth quarter worth about $29,000. Thurston Springer Miller Herd & Titak Inc. purchased a new position in Houlihan Lokey during the first quarter worth about $54,000. Versant Capital Management Inc raised its holdings in Houlihan Lokey by 744.2% during the first quarter. Versant Capital Management Inc now owns 363 shares of the financial services provider’s stock worth $59,000 after purchasing an additional 320 shares in the last quarter. Kapitalo Investimentos Ltda purchased a new position in Houlihan Lokey during the fourth quarter worth about $105,000. Finally, Brown Brothers Harriman & Co. raised its holdings in Houlihan Lokey by 374.6% during the fourth quarter. Brown Brothers Harriman & Co. now owns 655 shares of the financial services provider’s stock worth $114,000 after purchasing an additional 517 shares in the last quarter. 78.07% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several research analysts recently issued reports on the stock. Wells Fargo & Company increased their price target on shares of Houlihan Lokey from $170.00 to $185.00 and gave the stock an “overweight” rating in a report on Thursday, May 8th. Keefe, Bruyette & Woods upped their target price on shares of Houlihan Lokey from $183.00 to $185.00 and gave the stock a “market perform” rating in a research report on Monday, May 12th. Morgan Stanley upped their target price on shares of Houlihan Lokey from $159.00 to $192.00 and gave the stock an “overweight” rating in a research report on Monday. Finally, Wall Street Zen upgraded shares of Houlihan Lokey from a “hold” rating to a “buy” rating in a research report on Thursday, May 22nd. Three equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. According to MarketBeat.com, Houlihan Lokey currently has a consensus rating of “Moderate Buy” and a consensus price target of $192.20.

Insider Activity

In other news, General Counsel Christopher M. Crain sold 500 shares of the stock in a transaction that occurred on Monday, June 2nd. The shares were sold at an average price of $173.02, for a total value of $86,510.00. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, Chairman Scott L. Beiser sold 8,008 shares of the stock in a transaction that occurred on Monday, May 19th. The shares were sold at an average price of $178.71, for a total transaction of $1,431,109.68. The disclosure for this sale can be found here. Company insiders own 23.68% of the company’s stock.

Houlihan Lokey Trading Up 1.6%

Shares of HLI opened at $179.91 on Wednesday. The firm’s 50-day moving average is $170.14 and its two-hundred day moving average is $170.06. Houlihan Lokey, Inc. has a twelve month low of $129.32 and a twelve month high of $192.10. The firm has a market capitalization of $12.56 billion, a P/E ratio of 30.91 and a beta of 0.83.

Houlihan Lokey (NYSE:HLI) last issued its earnings results on Wednesday, May 7th. The financial services provider reported $1.96 earnings per share for the quarter, topping the consensus estimate of $1.61 by $0.35. The company had revenue of $666.42 million for the quarter, compared to analyst estimates of $628.25 million. Houlihan Lokey had a net margin of 16.73% and a return on equity of 21.61%. The firm’s revenue for the quarter was up 28.0% compared to the same quarter last year. During the same period in the prior year, the business posted $1.27 earnings per share. Analysts predict that Houlihan Lokey, Inc. will post 5.98 EPS for the current year.

Houlihan Lokey Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Sunday, June 15th. Stockholders of record on Monday, June 2nd were given a $0.60 dividend. The ex-dividend date of this dividend was Monday, June 2nd. This is a positive change from Houlihan Lokey’s previous quarterly dividend of $0.57. This represents a $2.40 annualized dividend and a dividend yield of 1.33%. Houlihan Lokey’s dividend payout ratio is currently 41.24%.

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.