Richard Bernstein Advisors LLC Cuts Stock Position in Houlihan Lokey, Inc. $HLI

Richard Bernstein Advisors LLC cut its holdings in shares of Houlihan Lokey, Inc. (NYSE:HLI) by 59.4% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 9,459 shares of the financial services provider’s stock after selling 13,836 shares during the quarter. Richard Bernstein Advisors LLC’s holdings in Houlihan Lokey were worth $1,942,000 at the end of the most recent reporting period.

A number of other large investors have also added to or reduced their stakes in HLI. Mayflower Financial Advisors LLC bought a new stake in shares of Houlihan Lokey in the 3rd quarter worth approximately $230,335,000. Norges Bank bought a new position in Houlihan Lokey during the second quarter worth about $126,723,000. Champlain Investment Partners LLC raised its position in shares of Houlihan Lokey by 194.9% in the second quarter. Champlain Investment Partners LLC now owns 546,340 shares of the financial services provider’s stock valued at $98,314,000 after purchasing an additional 361,085 shares during the period. Thrivent Financial for Lutherans grew its stake in Houlihan Lokey by 75.6% in the 3rd quarter. Thrivent Financial for Lutherans now owns 713,494 shares of the financial services provider’s stock valued at $146,495,000 after buying an additional 307,214 shares in the last quarter. Finally, Renaissance Group LLC purchased a new position in shares of Houlihan Lokey in the second quarter valued at $34,115,000. Hedge funds and other institutional investors own 78.07% of the company’s stock.

Houlihan Lokey Price Performance

Shares of HLI stock opened at $147.22 on Tuesday. The business has a 50-day moving average of $173.16 and a 200 day moving average of $183.59. The stock has a market capitalization of $10.27 billion, a PE ratio of 22.61 and a beta of 0.95. Houlihan Lokey, Inc. has a 1-year low of $137.99 and a 1-year high of $211.78.

Houlihan Lokey (NYSE:HLI) last issued its earnings results on Thursday, January 29th. The financial services provider reported $1.94 EPS for the quarter, topping the consensus estimate of $1.85 by $0.09. Houlihan Lokey had a net margin of 16.91% and a return on equity of 24.46%. The company’s revenue was up 13.0% compared to the same quarter last year. During the same period in the prior year, the business earned $1.64 EPS. Analysts anticipate that Houlihan Lokey, Inc. will post 5.98 EPS for the current year.

Houlihan Lokey Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Sunday, March 15th. Shareholders of record on Monday, March 2nd will be given a dividend of $0.60 per share. The ex-dividend date of this dividend is Monday, March 2nd. This represents a $2.40 dividend on an annualized basis and a yield of 1.6%. Houlihan Lokey’s dividend payout ratio is presently 36.87%.

Analysts Set New Price Targets

Several brokerages have commented on HLI. BMO Capital Markets raised their price target on shares of Houlihan Lokey from $209.00 to $211.00 and gave the company an “outperform” rating in a report on Thursday, January 29th. Morgan Stanley decreased their price objective on shares of Houlihan Lokey from $216.00 to $215.00 and set an “overweight” rating on the stock in a research report on Tuesday, January 6th. Weiss Ratings raised shares of Houlihan Lokey from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Friday, February 20th. UBS Group restated a “neutral” rating and set a $196.00 price objective on shares of Houlihan Lokey in a research report on Friday, January 30th. Finally, Keefe, Bruyette & Woods cut their target price on shares of Houlihan Lokey from $218.00 to $214.00 and set an “outperform” rating for the company in a research report on Thursday, January 29th. Five research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $209.17.

Insider Activity at Houlihan Lokey

In other Houlihan Lokey news, General Counsel Christopher M. Crain sold 500 shares of the company’s stock in a transaction on Friday, January 2nd. The shares were sold at an average price of $174.17, for a total value of $87,085.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Robert A. Schriesheim sold 5,000 shares of the stock in a transaction dated Friday, February 6th. The stock was sold at an average price of $170.86, for a total transaction of $854,300.00. Following the completion of the transaction, the director directly owned 27,982 shares of the company’s stock, valued at approximately $4,781,004.52. The trade was a 15.16% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Company insiders own 22.83% of the company’s stock.

About Houlihan Lokey

Houlihan Lokey, Inc is a global investment bank and financial services firm founded in 1972 and headquartered in Los Angeles, California. The company specializes in advisory services across a broad range of transaction types and financial matters. Since its founding, Houlihan Lokey has grown to serve corporations, financial sponsors, and government entities worldwide, providing expertise in complex and high-stakes engagements.

The firm’s core service offerings include mergers and acquisitions advisory, capital markets advisory, financial restructuring and distressed M&A, and valuation and fairness opinions.