Irwin Gold Sells 91,453 Shares of Houlihan Lokey, Inc. (HLI) Stock
Houlihan Lokey, Inc. (NYSE:HLI) Chairman Irwin Gold sold 91,453 shares of the business’s stock in a transaction that occurred on Monday, October 30th. The stock was sold at an average price of $41.63, for a total value of $3,807,188.39. Following the sale, the chairman now owns 102,314 shares of the company’s stock, valued at $4,259,331.82. The transaction was disclosed in a legal filing with the SEC, which is available at this link.
Houlihan Lokey (NYSE:HLI) last announced its earnings results on Tuesday, October 24th. The financial services provider reported $0.56 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.41 by $0.15. Houlihan Lokey had a net margin of 14.58% and a return on equity of 20.05%. The firm had revenue of $242.20 million for the quarter, compared to analyst estimates of $207.72 million. During the same quarter last year, the business earned $0.37 earnings per share. Houlihan Lokey’s revenue was up 29.9% compared to the same quarter last year.
The company also recently announced a quarterly dividend, which will be paid on Friday, December 15th. Investors of record on Monday, December 4th will be given a dividend of $0.20 per share. The ex-dividend date of this dividend is Friday, December 1st. This represents a $0.80 dividend on an annualized basis and a yield of 1.92%. Houlihan Lokey’s dividend payout ratio (DPR) is currently 37.91%.
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Several research firms have commented on HLI. ValuEngine upgraded Houlihan Lokey from a “hold” rating to a “buy” rating in a research note on Friday, September 15th. UBS AG boosted their target price on Houlihan Lokey from $44.00 to $47.00 and gave the stock a “buy” rating in a report on Wednesday, October 25th. J P Morgan Chase & Co initiated coverage on Houlihan Lokey in a report on Tuesday, September 12th. They set an “overweight” rating and a $42.00 target price on the stock. Zacks Investment Research upgraded Houlihan Lokey from a “hold” rating to a “strong-buy” rating and set a $45.00 target price on the stock in a report on Thursday, October 12th. Finally, Keefe, Bruyette & Woods restated a “buy” rating and set a $40.00 target price on shares of Houlihan Lokey in a report on Sunday, August 27th. One investment analyst has rated the stock with a hold rating, six have issued a buy rating and one has given a strong buy rating to the company’s stock. The company currently has an average rating of “Buy” and an average price target of $42.33.
Several institutional investors and hedge funds have recently made changes to their positions in HLI. Bank of New York Mellon Corp boosted its holdings in shares of Houlihan Lokey by 34.7% in the 1st quarter. Bank of New York Mellon Corp now owns 133,521 shares of the financial services provider’s stock valued at $4,600,000 after purchasing an additional 34,396 shares during the last quarter. Swiss National Bank boosted its holdings in shares of Houlihan Lokey by 73.4% in the 1st quarter. Swiss National Bank now owns 35,436 shares of the financial services provider’s stock valued at $1,221,000 after purchasing an additional 15,000 shares during the last quarter. American International Group Inc. boosted its holdings in shares of Houlihan Lokey by 7.1% in the 1st quarter. American International Group Inc. now owns 7,512 shares of the financial services provider’s stock valued at $259,000 after purchasing an additional 497 shares during the last quarter. Teachers Advisors LLC boosted its holdings in shares of Houlihan Lokey by 126.6% in the 1st quarter. Teachers Advisors LLC now owns 57,201 shares of the financial services provider’s stock valued at $1,971,000 after purchasing an additional 31,959 shares during the last quarter. Finally, TIAA CREF Investment Management LLC boosted its holdings in shares of Houlihan Lokey by 84.3% in the 1st quarter. TIAA CREF Investment Management LLC now owns 149,237 shares of the financial services provider’s stock valued at $5,141,000 after purchasing an additional 68,246 shares during the last quarter. Institutional investors own 32.27% of the company’s stock.
Houlihan Lokey Company Profile
Houlihan Lokey, Inc is a global independent investment bank that focuses on mergers and acquisitions (M&A), capital markets, financial restructuring, valuation, and strategic consulting. The Company operates through four segments: Corporate Finance, Financial Restructuring, Financial Advisory Services and Strategic Consulting.
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