Summit Trail Advisors LLC Cuts Stake in Houlihan Lokey, Inc. (NYSE:HLI)

Summit Trail Advisors LLC lessened its stake in shares of Houlihan Lokey, Inc. (NYSE:HLI) by 3.8% in the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 4,907 shares of the financial services provider’s stock after selling 196 shares during the period. Summit Trail Advisors LLC’s holdings in Houlihan Lokey were worth $775,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Opal Wealth Advisors LLC purchased a new stake in Houlihan Lokey during the 2nd quarter worth approximately $26,000. Crewe Advisors LLC increased its position in shares of Houlihan Lokey by 264.5% during the second quarter. Crewe Advisors LLC now owns 226 shares of the financial services provider’s stock worth $30,000 after purchasing an additional 164 shares in the last quarter. Ashton Thomas Private Wealth LLC acquired a new position in Houlihan Lokey in the 2nd quarter valued at $38,000. Wolff Wiese Magana LLC purchased a new position in Houlihan Lokey in the 3rd quarter valued at $38,000. Finally, First Horizon Advisors Inc. lifted its holdings in Houlihan Lokey by 81.5% in the 3rd quarter. First Horizon Advisors Inc. now owns 441 shares of the financial services provider’s stock valued at $70,000 after purchasing an additional 198 shares in the last quarter. 78.07% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of equities research analysts have recently issued reports on HLI shares. Wells Fargo & Company assumed coverage on shares of Houlihan Lokey in a report on Thursday, September 12th. They set an “underweight” rating and a $149.00 target price for the company. UBS Group upped their price objective on shares of Houlihan Lokey from $170.00 to $190.00 and gave the company a “buy” rating in a research note on Tuesday, October 8th. Morgan Stanley raised their target price on shares of Houlihan Lokey from $146.00 to $163.00 and gave the stock an “equal weight” rating in a research note on Monday, September 23rd. StockNews.com cut Houlihan Lokey from a “buy” rating to a “hold” rating in a report on Wednesday, November 20th. Finally, JPMorgan Chase & Co. cut their price target on Houlihan Lokey from $132.00 to $129.00 and set a “neutral” rating for the company in a report on Wednesday, July 31st. One analyst has rated the stock with a sell rating, five have given a hold rating and one has issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $157.00.

Insiders Place Their Bets

In other Houlihan Lokey news, Director Gillian Beth Zucker sold 200 shares of the company’s stock in a transaction on Friday, September 13th. The stock was sold at an average price of $152.28, for a total transaction of $30,456.00. Following the transaction, the director now directly owns 6,801 shares in the company, valued at $1,035,656.28. This represents a 2.86 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, General Counsel Christopher M. Crain sold 1,000 shares of Houlihan Lokey 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 a total of 1,400 shares of company stock valued at $219,362 over the last 90 days. 23.68% of the stock is owned by company insiders.

Houlihan Lokey Price Performance

Shares of NYSE HLI opened at $190.49 on Tuesday. The company has a market capitalization of $13.24 billion, a P/E ratio of 38.96 and a beta of 0.65. The company has a 50 day simple moving average of $170.99 and a 200-day simple moving average of $152.11. Houlihan Lokey, Inc. has a 1 year low of $104.86 and a 1 year high of $192.10.

Houlihan Lokey (NYSE:HLI) last posted its earnings results on Wednesday, October 30th. The financial services provider reported $1.46 EPS for the quarter, beating analysts’ consensus estimates of $1.31 by $0.15. The company had revenue of $574.96 million for the quarter, compared to the consensus estimate of $537.93 million. Houlihan Lokey had a return on equity of 19.29% and a net margin of 15.77%. The company’s revenue for the quarter was up 23.1% on a year-over-year basis. During the same quarter in the previous year, the business earned $1.11 earnings per share. As a group, research analysts expect that Houlihan Lokey, Inc. will post 5.79 EPS for the current year.

Houlihan Lokey Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Sunday, December 15th. Shareholders of record on Monday, December 2nd will be given a $0.57 dividend. The ex-dividend date of this dividend is Monday, December 2nd. This represents a $2.28 dividend on an annualized basis and a yield of 1.20%. Houlihan Lokey’s payout ratio is currently 46.63%.

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.