Bridges Investment Management Inc. Invests $619,000 in Houlihan Lokey, Inc. (NYSE:HLI)

Bridges Investment Management Inc. purchased a new stake in shares of Houlihan Lokey, Inc. (NYSE:HLI) during the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund purchased 4,591 shares of the financial services provider’s stock, valued at approximately $619,000.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in HLI. Opal Wealth Advisors LLC bought a new stake in shares of Houlihan Lokey during the 2nd quarter valued at $26,000. Crewe Advisors LLC boosted its stake in 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 acquiring an additional 164 shares in the last quarter. Ashton Thomas Private Wealth LLC purchased a new stake in Houlihan Lokey in the second quarter worth about $38,000. Accent Capital Management LLC bought a new position in shares of Houlihan Lokey during the fourth quarter valued at approximately $42,000. Finally, Benjamin F. Edwards & Company Inc. lifted its holdings in shares of Houlihan Lokey by 194.9% during the first quarter. Benjamin F. Edwards & Company Inc. now owns 401 shares of the financial services provider’s stock valued at $52,000 after purchasing an additional 265 shares during the last quarter. 78.07% of the stock is owned by hedge funds and other institutional investors.

Houlihan Lokey Stock Performance

Shares of NYSE:HLI opened at $160.30 on Friday. The firm has a market cap of $10.99 billion, a price-to-earnings ratio of 39.00 and a beta of 0.67. The business has a 50-day simple moving average of $150.66 and a two-hundred day simple moving average of $137.50. Houlihan Lokey, Inc. has a fifty-two week low of $94.67 and a fifty-two week high of $160.89.

Houlihan Lokey (NYSE:HLI) last released its quarterly earnings data on Tuesday, July 30th. The financial services provider reported $1.22 earnings per share for the quarter, meeting the consensus estimate of $1.22. Houlihan Lokey had a net margin of 15.30% and a return on equity of 18.80%. The firm had revenue of $514.00 million during the quarter, compared to analysts’ expectations of $508.70 million. During the same period in the previous year, the company earned $0.89 earnings per share. The firm’s quarterly revenue was up 23.6% on a year-over-year basis. As a group, research analysts predict that Houlihan Lokey, Inc. will post 5.64 earnings per share for the current year.

Houlihan Lokey Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Sunday, September 15th. Stockholders of record on Tuesday, September 3rd were issued a dividend of $0.57 per share. The ex-dividend date of this dividend was Tuesday, September 3rd. This represents a $2.28 annualized dividend and a dividend yield of 1.42%. Houlihan Lokey’s payout ratio is 55.47%.

Analyst Upgrades and Downgrades

HLI has been the topic of several recent research reports. Wells Fargo & Company began coverage on Houlihan Lokey in a research note on Thursday, September 12th. They issued an “underweight” rating and a $149.00 price target on the stock. Morgan Stanley cut their target price on Houlihan Lokey from $148.00 to $146.00 and set an “equal weight” rating on the stock in a research note on Wednesday. Keefe, Bruyette & Woods reiterated a “market perform” rating and issued a $154.00 price target (up previously from $139.00) on shares of Houlihan Lokey in a research note on Wednesday, July 31st. UBS Group increased their price objective on shares of Houlihan Lokey from $157.00 to $170.00 and gave the company a “buy” rating in a research report on Wednesday, July 31st. Finally, JPMorgan Chase & Co. dropped 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 note on Wednesday, July 31st. One research analyst has rated the stock with a sell rating, five have given a hold rating and one has given a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $149.60.

Insider Transactions at Houlihan Lokey

In other Houlihan Lokey news, Director Gillian Beth Zucker sold 200 shares of the stock in a transaction dated Friday, September 13th. The stock was sold at an average price of $152.28, for a total value of $30,456.00. Following the transaction, the director now owns 6,801 shares of the company’s stock, valued at $1,035,656.28. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. In other news, Chairman Scott L. Beiser sold 8,317 shares of the business’s stock in a transaction 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 sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Gillian Beth Zucker sold 200 shares of the firm’s stock in a transaction on Friday, September 13th. The stock was sold at an average price of $152.28, for a total value of $30,456.00. Following the completion of the transaction, the director now directly owns 6,801 shares in the company, valued at $1,035,656.28. The disclosure for this sale can be found here. Insiders have sold a total of 19,619 shares of company stock worth $2,818,759 in the last ninety days. Insiders own 25.97% of the company’s stock.

Houlihan Lokey Company 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.