J Lindsey Alley Sells 13,538 Shares of Houlihan Lokey, Inc. (HLI) Stock
Houlihan Lokey, Inc. (NYSE:HLI) CFO J Lindsey Alley sold 13,538 shares of the business’s stock in a transaction that occurred on Monday, October 30th. The shares were sold at an average price of $41.63, for a total value of $563,586.94. Following the completion of the sale, the chief financial officer now directly owns 17,369 shares in the company, valued at approximately $723,071.47. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website.
Houlihan Lokey (NYSE:HLI) last posted its quarterly earnings results on Tuesday, October 24th. The financial services provider reported $0.56 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.41 by $0.15. The company had revenue of $242.20 million for the quarter, compared to the consensus estimate of $207.72 million. Houlihan Lokey had a net margin of 14.58% and a return on equity of 20.05%. Houlihan Lokey’s revenue was up 29.9% on a year-over-year basis. During the same quarter last year, the firm posted $0.37 earnings per share.
The firm also recently announced a quarterly dividend, which will be paid on Friday, December 15th. Stockholders of record on Monday, December 4th will be paid a $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a dividend yield of 1.92%. The ex-dividend date is Friday, December 1st. Houlihan Lokey’s dividend payout ratio is presently 37.91%.
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Several hedge funds have recently modified their holdings of the company. Principal Financial Group Inc. raised its stake in shares of Houlihan Lokey by 2.3% in the 3rd quarter. Principal Financial Group Inc. now owns 211,600 shares of the financial services provider’s stock valued at $8,280,000 after acquiring an additional 4,700 shares during the period. Smith Asset Management Group LP purchased a new position in shares of Houlihan Lokey in the 3rd quarter valued at $3,490,000. Prudential Financial Inc. raised its stake in shares of Houlihan Lokey by 25.5% in the 3rd quarter. Prudential Financial Inc. now owns 225,610 shares of the financial services provider’s stock valued at $8,828,000 after acquiring an additional 45,770 shares during the period. IndexIQ Advisors LLC raised its stake in shares of Houlihan Lokey by 83.1% in the 3rd quarter. IndexIQ Advisors LLC now owns 25,157 shares of the financial services provider’s stock valued at $984,000 after acquiring an additional 11,415 shares during the period. Finally, American Century Companies Inc. raised its stake in shares of Houlihan Lokey by 4.9% in the 3rd quarter. American Century Companies Inc. now owns 191,565 shares of the financial services provider’s stock valued at $7,496,000 after acquiring an additional 9,008 shares during the period. 32.27% of the stock is currently owned by institutional investors and hedge funds.
A number of analysts have issued reports on HLI shares. Zacks Investment Research raised Houlihan Lokey from a “sell” rating to a “hold” rating and set a $41.00 target price on the stock in a research report on Wednesday, July 12th. BidaskClub lowered Houlihan Lokey from a “strong-buy” rating to a “buy” rating in a research report on Tuesday, July 25th. UBS AG reissued a “buy” rating and issued a $42.00 target price (up previously from $40.00) on shares of Houlihan Lokey in a research report on Wednesday, July 26th. Keefe, Bruyette & Woods reissued a “buy” rating and issued a $40.00 target price on shares of Houlihan Lokey in a research report on Thursday, July 27th. Finally, TheStreet raised Houlihan Lokey from a “c” rating to a “b-” rating in a research report on Monday, August 14th. 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. Houlihan Lokey has a consensus rating of “Buy” and an average target price of $42.33.
About Houlihan Lokey
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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