Brookstone Capital Management Sells 229 Shares of Houlihan Lokey, Inc. $HLI

Brookstone Capital Management trimmed its stake in Houlihan Lokey, Inc. (NYSE:HLI) by 5.6% in the 2nd quarter, Holdings Channel.com reports. The firm owned 3,846 shares of the financial services provider’s stock after selling 229 shares during the period. Brookstone Capital Management’s holdings in Houlihan Lokey were worth $692,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently modified their holdings of HLI. Westfield Capital Management Co. LP bought a new stake in shares of Houlihan Lokey during the 1st quarter worth approximately $46,236,000. Jacobs Levy Equity Management Inc. lifted its stake in shares of Houlihan Lokey by 1,168.0% during the 1st quarter. Jacobs Levy Equity Management Inc. now owns 239,522 shares of the financial services provider’s stock worth $38,683,000 after acquiring an additional 220,632 shares during the last quarter. Champlain Investment Partners LLC bought a new stake in shares of Houlihan Lokey during the 1st quarter worth approximately $29,919,000. Assenagon Asset Management S.A. bought a new stake in shares of Houlihan Lokey during the 2nd quarter worth approximately $32,882,000. Finally, Nuveen LLC bought a new stake in shares of Houlihan Lokey during the 1st quarter worth approximately $23,478,000. 78.07% of the stock is owned by institutional investors.

Insider Activity

In other news, Chairman Paul Eric Siegert sold 40,000 shares of Houlihan Lokey stock in a transaction on Wednesday, August 27th. The stock was sold at an average price of $199.95, for a total value of $7,998,000.00. The sale was disclosed in a filing with the SEC, which is available through this link. Also, General Counsel Christopher M. Crain sold 500 shares of Houlihan Lokey stock in a transaction on Tuesday, September 2nd. The shares were sold at an average price of $196.22, for a total value of $98,110.00. The disclosure for this sale can be found here. In the last three months, insiders have sold 47,311 shares of company stock worth $9,477,040. 22.83% of the stock is currently owned by company insiders.

Houlihan Lokey Trading Up 1.3%

Shares of NYSE:HLI opened at $199.49 on Monday. Houlihan Lokey, Inc. has a 12-month low of $137.99 and a 12-month high of $211.78. The business’s fifty day simple moving average is $198.49 and its 200-day simple moving average is $184.82. The company has a market capitalization of $14.03 billion, a PE ratio of 33.58 and a beta of 0.87.

Houlihan Lokey (NYSE:HLI) last announced its quarterly 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. Houlihan Lokey had a return on equity of 23.75% and a net margin of 16.46%.The business had revenue of $605.35 million for the quarter, compared to the consensus estimate of $573.07 million. During the same period last year, the business posted $1.22 EPS. The business’s revenue was up 17.8% compared to the same quarter last year. Research analysts predict that Houlihan Lokey, Inc. will post 5.98 EPS for the current year.

Houlihan Lokey Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, September 15th. Stockholders of record on Tuesday, September 2nd were issued a $0.60 dividend. The ex-dividend date was Tuesday, September 2nd. This represents a $2.40 dividend on an annualized basis and a dividend yield of 1.2%. Houlihan Lokey’s dividend payout ratio (DPR) is currently 40.40%.

Wall Street Analysts Forecast Growth

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

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.