Legacy Wealth Asset Management LLC Has $345,000 Stake in Houlihan Lokey, Inc. $HLI

Legacy Wealth Asset Management LLC increased its position in shares of Houlihan Lokey, Inc. (NYSE:HLI) by 3.3% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 1,916 shares of the financial services provider’s stock after buying an additional 61 shares during the period. Legacy Wealth Asset Management LLC’s holdings in Houlihan Lokey were worth $345,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also added to or reduced their stakes in HLI. Bogart Wealth LLC increased its holdings in shares of Houlihan Lokey by 111.1% in the first quarter. Bogart Wealth LLC now owns 152 shares of the financial services provider’s stock valued at $25,000 after purchasing an additional 80 shares during the last quarter. First Horizon Advisors Inc. increased its holdings in shares of Houlihan Lokey by 17.5% in the first quarter. First Horizon Advisors Inc. now owns 550 shares of the financial services provider’s stock valued at $89,000 after purchasing an additional 82 shares during the last quarter. Callan Family Office LLC increased its holdings in shares of Houlihan Lokey by 6.2% in the first quarter. Callan Family Office LLC now owns 1,500 shares of the financial services provider’s stock valued at $242,000 after purchasing an additional 87 shares during the last quarter. Vista Finance LLC increased its holdings in shares of Houlihan Lokey by 4.1% in the second quarter. Vista Finance LLC now owns 2,228 shares of the financial services provider’s stock valued at $401,000 after purchasing an additional 87 shares during the last quarter. Finally, Assetmark Inc. increased its holdings in shares of Houlihan Lokey by 0.9% in the first quarter. Assetmark Inc. now owns 10,653 shares of the financial services provider’s stock valued at $1,720,000 after purchasing an additional 93 shares during the last quarter. 78.07% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, Chairman Paul Eric Siegert sold 40,000 shares of the company’s stock in a transaction dated Wednesday, August 27th. The shares were sold at an average price of $199.95, for a total transaction of $7,998,000.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, Chairman Irwin Gold sold 6,811 shares of the company’s stock in a transaction dated Tuesday, September 16th. The stock was sold at an average price of $202.75, for a total transaction of $1,380,930.25. The disclosure for this sale can be found here. Insiders sold 47,311 shares of company stock valued at $9,477,040 over the last quarter. 22.83% of the stock is owned by company insiders.

Houlihan Lokey Stock Performance

Shares of Houlihan Lokey stock opened at $193.03 on Wednesday. The firm has a 50-day moving average of $198.30 and a 200-day moving average of $183.48. The stock has a market cap of $13.57 billion, a PE ratio of 32.50 and a beta of 0.87. Houlihan Lokey, Inc. has a 52-week low of $137.99 and a 52-week high of $211.78.

Houlihan Lokey (NYSE:HLI) last announced its earnings results on Tuesday, July 29th. The financial services provider reported $2.14 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.69 by $0.45. The company had revenue of $605.35 million during the quarter, compared to analysts’ expectations of $573.07 million. Houlihan Lokey had a net margin of 16.46% and a return on equity of 23.75%. Houlihan Lokey’s quarterly revenue was up 17.8% on a year-over-year basis. During the same quarter in the previous year, the business posted $1.22 earnings per share. Equities research analysts predict that Houlihan Lokey, Inc. will post 5.98 earnings per share for the current fiscal year.

Houlihan Lokey Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, September 15th. Investors of record on Tuesday, September 2nd were given a dividend of $0.60 per share. The ex-dividend date of this dividend was Tuesday, September 2nd. This represents a $2.40 annualized dividend and a yield of 1.2%. Houlihan Lokey’s dividend payout ratio is currently 40.40%.

Analysts Set New Price Targets

Several equities analysts have commented on the stock. Keefe, Bruyette & Woods decreased their price objective on shares of Houlihan Lokey from $232.00 to $226.00 and set a “moderate buy” rating on the stock in a report on Monday, October 13th. Wall Street Zen downgraded shares of Houlihan Lokey from a “buy” rating to a “hold” rating in a report on Saturday, August 2nd. BMO Capital Markets assumed coverage on shares of Houlihan Lokey in a report on Friday, October 3rd. They issued an “outperform” rating and a $230.00 price objective on the stock. Wells Fargo & Company upped their price objective on shares of Houlihan Lokey from $185.00 to $209.00 and gave the company an “overweight” rating in a report on Friday, July 11th. Finally, Weiss Ratings reiterated a “buy (b-)” rating on shares of Houlihan Lokey in a report on Wednesday, October 8th. One equities research analyst has rated the stock with a Strong Buy rating, five have given a Buy rating and four have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, Houlihan Lokey currently has an average rating of “Moderate Buy” and a consensus target price of $212.43.

Houlihan Lokey Company 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.