704,214 Shares in Houlihan Lokey, Inc. $HLI Bought by Norges Bank

Norges Bank acquired a new position in Houlihan Lokey, Inc. (NYSE:HLI) in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund acquired 704,214 shares of the financial services provider’s stock, valued at approximately $126,723,000.

A number of other institutional investors and hedge funds also recently modified their holdings of HLI. Trust Co. of Toledo NA OH bought a new position in shares of Houlihan Lokey in the 2nd quarter worth about $34,000. Brooklyn Investment Group acquired a new stake in Houlihan Lokey during the first quarter worth about $33,000. Caitong International Asset Management Co. Ltd lifted its holdings in Houlihan Lokey by 3,714.3% in the first quarter. Caitong International Asset Management Co. Ltd now owns 267 shares of the financial services provider’s stock worth $43,000 after acquiring an additional 260 shares during the last quarter. MAI Capital Management lifted its holdings in Houlihan Lokey by 268.0% in the second quarter. MAI Capital Management now owns 368 shares of the financial services provider’s stock worth $66,000 after acquiring an additional 268 shares during the last quarter. Finally, BI Asset Management Fondsmaeglerselskab A S acquired a new position in Houlihan Lokey in the first quarter valued at approximately $81,000. 78.07% of the stock is owned by institutional investors and hedge funds.

Houlihan Lokey Trading Up 0.7%

HLI stock opened at $174.89 on Wednesday. The firm’s 50-day moving average is $188.04 and its two-hundred day moving average is $188.36. The company has a market capitalization of $12.25 billion, a price-to-earnings ratio of 29.44 and a beta of 0.88. Houlihan Lokey, Inc. has a 52 week low of $137.99 and a 52 week high of $211.78.

Houlihan Lokey (NYSE:HLI) last posted its quarterly earnings data on Thursday, October 30th. The financial services provider reported $1.84 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.69 by $0.15. Houlihan Lokey had a net margin of 16.46% and a return on equity of 23.75%. The business had revenue of $659.45 million during the quarter, compared to analysts’ expectations of $639.08 million. During the same period last year, the firm posted $1.46 earnings per share. The business’s revenue was up 14.7% on a year-over-year basis. On average, equities research analysts predict that Houlihan Lokey, Inc. will post 5.98 earnings per share for the current year.

Houlihan Lokey Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, December 15th. Stockholders of record on Monday, December 1st will be given a dividend of $0.60 per share. The ex-dividend date is Monday, December 1st. This represents a $2.40 annualized dividend and a dividend yield of 1.4%. Houlihan Lokey’s dividend payout ratio (DPR) is 38.71%.

Insider Activity at Houlihan Lokey

In related news, Chairman Irwin Gold sold 6,811 shares of the firm’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 sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 22.83% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts recently issued reports on HLI shares. Keefe, Bruyette & Woods cut their price target on Houlihan Lokey from $232.00 to $226.00 and set a “moderate buy” rating on the stock in a report on Monday, October 13th. Zacks Research lowered Houlihan Lokey from a “strong-buy” rating to a “hold” rating in a research report on Monday, September 29th. Weiss Ratings reissued a “buy (b-)” rating on shares of Houlihan Lokey in a report on Monday. Deutsche Bank Aktiengesellschaft started coverage on shares of Houlihan Lokey in a research report on Thursday, October 9th. They set a “hold” rating and a $210.00 price target for the company. Finally, BMO Capital Markets began coverage on shares of Houlihan Lokey in a research report on Friday, October 3rd. They issued an “outperform” rating and a $230.00 price objective on the stock. 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. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average 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.