Connable Office Inc. Cuts Stake in Houlihan Lokey, Inc. $HLI

Connable Office Inc. lowered its position in shares of Houlihan Lokey, Inc. (NYSE:HLI) by 13.7% during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 5,576 shares of the financial services provider’s stock after selling 884 shares during the period. Connable Office Inc.’s holdings in Houlihan Lokey were worth $1,003,000 at the end of the most recent quarter.

Several other institutional investors have also recently made changes to their positions in the company. Legacy Wealth Asset Management LLC increased its stake in shares of Houlihan Lokey by 3.3% during the second quarter. Legacy Wealth Asset Management LLC now owns 1,916 shares of the financial services provider’s stock valued at $345,000 after buying an additional 61 shares during the period. Bogart Wealth LLC increased its stake in shares of Houlihan Lokey by 111.1% during the first quarter. Bogart Wealth LLC now owns 152 shares of the financial services provider’s stock valued at $25,000 after buying an additional 80 shares during the period. First Horizon Advisors Inc. increased its stake in shares of Houlihan Lokey by 17.5% during the first quarter. First Horizon Advisors Inc. now owns 550 shares of the financial services provider’s stock valued at $89,000 after buying an additional 82 shares during the period. Callan Family Office LLC increased its stake in shares of Houlihan Lokey by 6.2% during the first quarter. Callan Family Office LLC now owns 1,500 shares of the financial services provider’s stock valued at $242,000 after buying an additional 87 shares during the period. Finally, Vista Finance LLC increased its stake in shares of Houlihan Lokey by 4.1% during the second quarter. Vista Finance LLC now owns 2,228 shares of the financial services provider’s stock valued at $401,000 after buying an additional 87 shares during the period. Hedge funds and other institutional investors own 78.07% of the company’s stock.

Houlihan Lokey Stock Performance

Shares of HLI stock opened at $178.22 on Tuesday. Houlihan Lokey, Inc. has a fifty-two week low of $137.99 and a fifty-two week high of $211.78. The firm has a market capitalization of $12.53 billion, a price-to-earnings ratio of 30.00 and a beta of 0.87. The stock’s 50-day simple moving average is $198.45 and its 200-day simple moving average is $186.74.

Houlihan Lokey (NYSE:HLI) last issued its quarterly earnings results on Thursday, October 30th. The financial services provider reported $1.84 earnings per share for the quarter, topping analysts’ consensus estimates of $1.69 by $0.15. Houlihan Lokey had a return on equity of 23.75% and a net margin of 16.46%.The business had revenue of $659.45 million for the quarter, compared to analyst estimates of $639.08 million. During the same quarter in the previous year, the firm earned $1.46 earnings per share. The company’s revenue was up 14.7% on a year-over-year basis. As a group, equities analysts forecast that Houlihan Lokey, Inc. will post 5.98 earnings per share for the current year.

Houlihan Lokey Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, December 15th. Investors of record on Monday, December 1st will be issued a dividend of $0.60 per share. The ex-dividend date of this dividend is Monday, December 1st. This represents a $2.40 dividend on an annualized basis and a dividend yield of 1.3%. Houlihan Lokey’s payout ratio is 38.71%.

Insider Buying and Selling

In related news, General Counsel Christopher M. Crain sold 500 shares of Houlihan Lokey stock in a transaction dated Tuesday, September 2nd. The stock was sold at an average price of $196.22, for a total transaction of $98,110.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Chairman Irwin Gold sold 6,811 shares of Houlihan Lokey stock in a transaction dated Tuesday, September 16th. The stock was sold at an average price of $202.75, for a total value of $1,380,930.25. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 47,311 shares of company stock valued at $9,477,040 over the last quarter. 22.83% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

HLI has been the topic of several analyst reports. Weiss Ratings reiterated a “buy (b-)” rating on shares of Houlihan Lokey in a research note on Wednesday, October 8th. Morgan Stanley lifted their target price on Houlihan Lokey from $192.00 to $213.00 and gave the company an “overweight” rating in a research note on Monday, September 8th. Deutsche Bank Aktiengesellschaft initiated coverage on Houlihan Lokey in a research note on Thursday, October 9th. They issued a “hold” rating and a $210.00 target price on the stock. BMO Capital Markets initiated coverage on Houlihan Lokey in a research note on Friday, October 3rd. They issued an “outperform” rating and a $230.00 target price on the stock. Finally, Keefe, Bruyette & Woods cut their target price on Houlihan Lokey from $232.00 to $226.00 and set a “moderate buy” rating on the stock in a research note on Monday, October 13th. One equities research analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating and four have issued a Hold rating to the company. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $212.43.

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.