Nordea Investment Management AB Cuts Stock Position in Houlihan Lokey, Inc. $HLI

Nordea Investment Management AB lessened its position in Houlihan Lokey, Inc. (NYSE:HLI) by 54.2% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 74,469 shares of the financial services provider’s stock after selling 88,235 shares during the quarter. Nordea Investment Management AB owned approximately 0.11% of Houlihan Lokey worth $13,494,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently bought and sold shares of HLI. Bogart Wealth LLC grew its stake in Houlihan Lokey by 111.1% during the 1st quarter. Bogart Wealth LLC now owns 152 shares of the financial services provider’s stock worth $25,000 after purchasing an additional 80 shares in the last quarter. Motco acquired a new position in Houlihan Lokey during the 1st quarter worth $29,000. Brooklyn Investment Group acquired a new position in Houlihan Lokey during the 1st quarter worth $33,000. Trust Co. of Toledo NA OH acquired a new position in Houlihan Lokey during the 2nd quarter worth $34,000. Finally, TCTC Holdings LLC grew its stake in Houlihan Lokey by 103.5% during the 1st quarter. TCTC Holdings LLC now owns 232 shares of the financial services provider’s stock worth $37,000 after purchasing an additional 118 shares in the last quarter. 78.07% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several research analysts recently commented on HLI shares. BMO Capital Markets started coverage on Houlihan Lokey in a research note on Friday, October 3rd. They set an “outperform” rating and a $230.00 target price for the company. Zacks Research cut Houlihan Lokey from a “strong-buy” rating to a “hold” rating in a research note on Monday, September 29th. Deutsche Bank Aktiengesellschaft started coverage on Houlihan Lokey in a research note on Thursday, October 9th. They set a “hold” rating and a $210.00 target price for the company. Keefe, Bruyette & Woods lowered their price objective on Houlihan Lokey from $232.00 to $226.00 and set a “moderate buy” rating for the company in a research report on Monday, October 13th. Finally, Morgan Stanley upped their price objective on Houlihan Lokey from $192.00 to $213.00 and gave the stock an “overweight” rating in a research report on Monday, September 8th. One investment analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating and four have assigned a Hold rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $212.43.

Houlihan Lokey Stock Performance

NYSE:HLI opened at $190.36 on Monday. The stock has a 50-day simple moving average of $198.26 and a 200-day simple moving average of $183.09. The stock has a market cap of $13.38 billion, a P/E ratio of 32.05 and a beta of 0.87. Houlihan Lokey, Inc. has a 1 year low of $137.99 and a 1 year high of $211.78.

Houlihan Lokey (NYSE:HLI) last released its quarterly earnings data on Tuesday, July 29th. The financial services provider reported $2.14 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.69 by $0.45. The business had revenue of $605.35 million during the quarter, compared to analysts’ expectations of $573.07 million. Houlihan Lokey had a return on equity of 23.75% and a net margin of 16.46%.The business’s quarterly revenue was up 17.8% compared to the same quarter last year. During the same period in the prior year, the firm posted $1.22 EPS. On average, equities research analysts predict that Houlihan Lokey, Inc. will post 5.98 EPS for the current year.

Houlihan Lokey Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, September 15th. Investors of record on Tuesday, September 2nd were given a $0.60 dividend. The ex-dividend date of this dividend was Tuesday, September 2nd. This represents a $2.40 dividend on an annualized basis and a dividend yield of 1.3%. Houlihan Lokey’s dividend payout ratio is 40.40%.

Insider Activity at Houlihan Lokey

In related news, General Counsel Christopher M. Crain sold 500 shares of the company’s stock in a transaction dated Tuesday, September 2nd. The stock was sold at an average price of $196.22, for a total value of $98,110.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Chairman Irwin Gold sold 6,811 shares of the company’s stock in a transaction dated Tuesday, September 16th. The shares were sold at an average price of $202.75, for a total value of $1,380,930.25. The disclosure for this sale can be found here. Insiders sold a total of 47,311 shares of company stock valued at $9,477,040 in the last three months. 22.83% of the stock is currently owned by company 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.