Weil Company Inc. Acquires 5,081 Shares of Houlihan Lokey, Inc. (NYSE:HLI)

Weil Company Inc. increased its holdings in shares of Houlihan Lokey, Inc. (NYSE:HLI) by 14.7% during the second quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 39,577 shares of the financial services provider’s stock after acquiring an additional 5,081 shares during the quarter. Houlihan Lokey comprises about 1.9% of Weil Company Inc.’s investment portfolio, making the stock its 14th largest holding. Weil Company Inc. owned approximately 0.06% of Houlihan Lokey worth $5,337,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also bought and sold shares of the business. Arizona State Retirement System boosted its stake in shares of Houlihan Lokey by 2.5% in the second quarter. Arizona State Retirement System now owns 14,590 shares of the financial services provider’s stock valued at $1,968,000 after buying an additional 360 shares during the period. Chase Investment Counsel Corp bought a new stake in shares of Houlihan Lokey during the 2nd quarter valued at $3,260,000. TD Asset Management Inc grew its holdings in shares of Houlihan Lokey by 204.3% during the 2nd quarter. TD Asset Management Inc now owns 7,000 shares of the financial services provider’s stock worth $944,000 after purchasing an additional 4,700 shares in the last quarter. FineMark National Bank & Trust increased its position in shares of Houlihan Lokey by 2.3% in the second quarter. FineMark National Bank & Trust now owns 48,800 shares of the financial services provider’s stock worth $6,581,000 after purchasing an additional 1,076 shares during the period. Finally, Pzena Investment Management LLC lifted its position in Houlihan Lokey by 82.4% during the second quarter. Pzena Investment Management LLC now owns 3,463 shares of the financial services provider’s stock worth $467,000 after purchasing an additional 1,564 shares during the period. Institutional investors and hedge funds own 78.07% of the company’s stock.

Insider Buying and Selling at Houlihan Lokey

In other news, Chairman Irwin Gold sold 9,902 shares of Houlihan Lokey stock in a transaction on Friday, June 28th. The shares were sold at an average price of $135.25, for a total transaction of $1,339,245.50. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. In other Houlihan Lokey news, Chairman Scott L. Beiser sold 8,317 shares of the stock in a transaction that occurred on Friday, August 16th. The shares were sold at an average price of $151.89, for a total transaction of $1,263,269.13. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Chairman Irwin Gold sold 9,902 shares of the firm’s stock in a transaction that occurred on Friday, June 28th. The stock was sold at an average price of $135.25, for a total transaction of $1,339,245.50. The disclosure for this sale can be found here. In the last ninety days, insiders sold 19,419 shares of company stock worth $2,788,303. 25.97% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

Several equities analysts have commented on the stock. JPMorgan Chase & Co. decreased their target price on shares of Houlihan Lokey from $132.00 to $129.00 and set a “neutral” rating on the stock in a report on Wednesday, July 31st. Keefe, Bruyette & Woods reaffirmed a “market perform” rating and issued a $154.00 price objective (up from $139.00) on shares of Houlihan Lokey in a research note on Wednesday, July 31st. Morgan Stanley boosted their target price on Houlihan Lokey from $131.00 to $148.00 and gave the stock an “equal weight” rating in a research note on Tuesday, July 23rd. Finally, UBS Group increased their target price on shares of Houlihan Lokey from $157.00 to $170.00 and gave the stock a “buy” rating in a report on Wednesday, July 31st. Five investment analysts have rated the stock with a hold rating and one has given a buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $150.25.

Houlihan Lokey Stock Down 2.0 %

NYSE HLI opened at $148.90 on Friday. The company has a market cap of $10.21 billion, a price-to-earnings ratio of 36.23 and a beta of 0.67. Houlihan Lokey, Inc. has a twelve month low of $94.67 and a twelve month high of $157.58. The business’s fifty day moving average is $146.86 and its 200 day moving average is $135.62.

Houlihan Lokey (NYSE:HLI) last announced its quarterly earnings results on Tuesday, July 30th. The financial services provider reported $1.22 EPS for the quarter, meeting analysts’ consensus estimates of $1.22. Houlihan Lokey had a return on equity of 18.80% and a net margin of 15.30%. The firm had revenue of $514.00 million for the quarter, compared to analyst estimates of $508.70 million. During the same period last year, the firm posted $0.89 earnings per share. The business’s revenue for the quarter was up 23.6% on a year-over-year basis. On average, research analysts anticipate that Houlihan Lokey, Inc. will post 5.64 earnings per share for the current fiscal year.

Houlihan Lokey Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Sunday, September 15th. Shareholders of record on Tuesday, September 3rd will be issued a dividend of $0.57 per share. This represents a $2.28 dividend on an annualized basis and a yield of 1.53%. The ex-dividend date is Tuesday, September 3rd. Houlihan Lokey’s payout ratio is 55.47%.

Houlihan Lokey 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.