Kayne Anderson Rudnick Investment Management LLC Buys 38,155 Shares of Houlihan Lokey, Inc. (NYSE:HLI)

Kayne Anderson Rudnick Investment Management LLC grew its stake in Houlihan Lokey, Inc. (NYSE:HLI) by 1.3% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 3,087,898 shares of the financial services provider’s stock after buying an additional 38,155 shares during the period. Kayne Anderson Rudnick Investment Management LLC owned approximately 4.50% of Houlihan Lokey worth $416,434,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently made changes to their positions in HLI. Opal Wealth Advisors LLC purchased a new position in Houlihan Lokey in the second quarter worth $26,000. Crewe Advisors LLC boosted its holdings in shares of Houlihan Lokey by 264.5% in the 2nd 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 purchased a new position in shares of Houlihan Lokey in the 2nd quarter worth about $38,000. Accent Capital Management LLC bought a new position in shares of Houlihan Lokey during the 4th quarter valued at about $42,000. Finally, Benjamin F. Edwards & Company Inc. raised its holdings in shares of Houlihan Lokey by 194.9% during the 1st quarter. Benjamin F. Edwards & Company Inc. now owns 401 shares of the financial services provider’s stock valued at $52,000 after buying an additional 265 shares in the last quarter. Institutional investors own 78.07% of the company’s stock.

Analyst Ratings Changes

Several analysts have issued reports on HLI shares. Wells Fargo & Company assumed coverage on Houlihan Lokey in a research note on Thursday, September 12th. They issued an “underweight” rating and a $149.00 target price for the company. Morgan Stanley cut their price objective on shares of Houlihan Lokey from $148.00 to $146.00 and set an “equal weight” rating for the company in a research note on Wednesday. Keefe, Bruyette & Woods reiterated a “market perform” rating and issued a $154.00 target price (up previously from $139.00) on shares of Houlihan Lokey in a research report on Wednesday, July 31st. UBS Group boosted their price target on shares of Houlihan Lokey from $157.00 to $170.00 and gave the stock a “buy” rating in a research note on Wednesday, July 31st. Finally, JPMorgan Chase & Co. reduced their price objective on 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 issued a hold rating and one has given a buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $149.60.

Insider Activity at Houlihan Lokey

In related 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 value of $1,339,245.50. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. In other Houlihan Lokey news, Director Gillian Beth Zucker sold 200 shares of the company’s stock in a transaction that occurred 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 owns 6,801 shares in the company, valued at approximately $1,035,656.28. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Chairman Irwin Gold sold 9,902 shares of the firm’s stock in a transaction that occurred on Friday, June 28th. The shares were sold at an average price of $135.25, for a total value of $1,339,245.50. The disclosure for this sale can be found here. Insiders sold a total of 19,619 shares of company stock worth $2,818,759 over the last quarter. 25.97% of the stock is owned by corporate insiders.

Houlihan Lokey Stock Up 1.2 %

Shares of HLI opened at $160.20 on Friday. The stock has a market capitalization of $10.99 billion, a P/E ratio of 38.98 and a beta of 0.67. Houlihan Lokey, Inc. has a twelve month low of $94.67 and a twelve month high of $160.89. The firm has a fifty day simple moving average of $150.66 and a two-hundred day simple moving average of $137.41.

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

Houlihan Lokey Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Sunday, September 15th. Stockholders of record on Tuesday, September 3rd were paid 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 dividend payout ratio (DPR) is presently 55.47%.

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.