Jennison Associates LLC cut its stake in Houlihan Lokey, Inc. (NYSE:HLI - Free Report) by 44.5% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 69,689 shares of the financial services provider's stock after selling 55,865 shares during the period. Jennison Associates LLC owned about 0.10% of Houlihan Lokey worth $11,012,000 at the end of the most recent quarter.
Several other institutional investors also recently added to or reduced their stakes in the stock. PNC Financial Services Group Inc. grew its stake in Houlihan Lokey by 2.9% in the 3rd quarter. PNC Financial Services Group Inc. now owns 13,945 shares of the financial services provider's stock worth $2,204,000 after acquiring an additional 387 shares in the last quarter. OneAscent Financial Services LLC purchased a new stake in shares of Houlihan Lokey in the third quarter valued at approximately $332,000. Pathstone Holdings LLC grew its stake in Houlihan Lokey by 0.5% in the third quarter. Pathstone Holdings LLC now owns 21,787 shares of the financial services provider's stock worth $3,443,000 after purchasing an additional 115 shares in the last quarter. OneAscent Wealth Management LLC purchased a new position in Houlihan Lokey during the 3rd quarter worth $330,000. Finally, Quest Partners LLC bought a new stake in Houlihan Lokey during the 3rd quarter valued at $92,000. Hedge funds and other institutional investors own 78.07% of the company's stock.
A number of equities analysts have recently issued reports on the company. UBS Group increased their price target on Houlihan Lokey from $170.00 to $190.00 and gave the stock a "buy" rating in a research report on Tuesday, October 8th. JPMorgan Chase & Co. cut their target price on shares of Houlihan Lokey from $132.00 to $129.00 and set a "neutral" rating on the stock in a research report on Wednesday, July 31st. StockNews.com cut shares of Houlihan Lokey from a "buy" rating to a "hold" rating in a research report on Wednesday. Morgan Stanley lifted their price objective on shares of Houlihan Lokey from $146.00 to $163.00 and gave the company an "equal weight" rating in a report on Monday, September 23rd. Finally, Keefe, Bruyette & Woods restated a "market perform" rating and set a $154.00 target price (up previously from $139.00) on shares of Houlihan Lokey in a report on Wednesday, July 31st. One analyst has rated the stock with a sell rating, five have assigned a hold rating and one has assigned a buy rating to the company's stock. According to data from MarketBeat, the company presently has a consensus rating of "Hold" and a consensus price target of $157.00.
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Shares of Houlihan Lokey stock opened at $188.77 on Friday. The company has a market cap of $13.12 billion, a P/E ratio of 38.60 and a beta of 0.65. Houlihan Lokey, Inc. has a 52-week low of $104.86 and a 52-week high of $191.39. The firm's 50 day moving average price is $169.62 and its 200-day moving average price is $151.09.
Houlihan Lokey (NYSE:HLI - Get Free Report) last issued its quarterly earnings data on Wednesday, October 30th. The financial services provider reported $1.46 EPS for the quarter, beating the consensus estimate of $1.31 by $0.15. Houlihan Lokey had a return on equity of 19.29% and a net margin of 15.77%. The firm had revenue of $574.96 million during the quarter, compared to analyst estimates of $537.93 million. During the same quarter in the prior year, the business posted $1.11 EPS. The business's revenue for the quarter was up 23.1% compared to the same quarter last year. As a group, equities research analysts forecast that Houlihan Lokey, Inc. will post 5.79 EPS for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Sunday, December 15th. Stockholders of record on Monday, December 2nd will be paid a dividend of $0.57 per share. The ex-dividend date is Monday, December 2nd. This represents a $2.28 dividend on an annualized basis and a dividend yield of 1.21%. Houlihan Lokey's payout ratio is 46.63%.
In other news, Director Gillian Beth Zucker sold 200 shares of Houlihan Lokey stock in a transaction on Friday, September 13th. The shares were sold at an average price of $152.28, for a total transaction of $30,456.00. Following the completion of the sale, the director now directly owns 6,801 shares in the company, valued at approximately $1,035,656.28. The trade was a 2.86 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, General Counsel Christopher M. Crain sold 1,000 shares of the company's stock in a transaction on Tuesday, September 3rd. The shares were sold at an average price of $155.29, for a total value of $155,290.00. The disclosure for this sale can be found here. Insiders sold 1,400 shares of company stock valued at $219,362 in the last three months. 23.68% of the stock is owned by insiders.
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.
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