State of New Jersey Common Pension Fund D Trims Stock Position in Houlihan Lokey, Inc. (NYSE:HLI)

State of New Jersey Common Pension Fund D trimmed its holdings in Houlihan Lokey, Inc. (NYSE:HLI) by 19.1% during the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 17,169 shares of the financial services provider’s stock after selling 4,064 shares during the quarter. State of New Jersey Common Pension Fund D’s holdings in Houlihan Lokey were worth $2,713,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. Vanguard Group Inc. lifted its stake in shares of Houlihan Lokey by 0.6% in the 1st quarter. Vanguard Group Inc. now owns 5,104,143 shares of the financial services provider’s stock valued at $654,300,000 after purchasing an additional 29,843 shares during the period. Janus Henderson Group PLC boosted its stake in shares of Houlihan Lokey by 27.1% during the 1st quarter. Janus Henderson Group PLC now owns 30,656 shares of the financial services provider’s stock worth $3,927,000 after acquiring an additional 6,535 shares in the last quarter. SG Americas Securities LLC acquired a new stake in shares of Houlihan Lokey during the 2nd quarter valued at about $1,844,000. Dynasty Wealth Management LLC acquired a new stake in shares of Houlihan Lokey during the 1st quarter valued at about $495,000. Finally, Bridges Investment Management Inc. purchased a new position in shares of Houlihan Lokey in the 2nd quarter valued at about $619,000. 78.07% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several brokerages have commented on HLI. Wells Fargo & Company initiated coverage on Houlihan Lokey in a report on Thursday, September 12th. They issued an “underweight” rating and a $149.00 price objective on the stock. UBS Group lifted their price target 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 upped their price objective on shares of Houlihan Lokey from $146.00 to $163.00 and gave the stock an “equal weight” rating in a research report on Monday, September 23rd. 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. Finally, JPMorgan Chase & Co. reduced their price target on shares of Houlihan Lokey from $132.00 to $129.00 and set a “neutral” rating for the company in a research report on Wednesday, July 31st. One investment analyst has rated the stock with a sell rating, four have given a hold rating and two have issued a buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $157.00.

Houlihan Lokey Stock Down 0.5 %

Shares of NYSE:HLI opened at $185.66 on Thursday. The business has a fifty day moving average of $165.53 and a two-hundred day moving average of $148.87. The stock has a market cap of $12.91 billion, a P/E ratio of 37.97 and a beta of 0.65. Houlihan Lokey, Inc. has a 52-week low of $102.29 and a 52-week high of $190.66.

Houlihan Lokey (NYSE:HLI) last released its quarterly earnings data 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. 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 for the quarter, compared to analysts’ expectations of $537.93 million. During the same period in the prior year, the firm posted $1.11 earnings per share. The firm’s quarterly revenue was up 23.1% on a year-over-year basis. On average, equities analysts anticipate that Houlihan Lokey, Inc. will post 5.79 earnings per share for the current year.

Houlihan Lokey Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Sunday, December 15th. Investors of record on Monday, December 2nd will be issued a $0.57 dividend. The ex-dividend date of this dividend is Monday, December 2nd. This represents a $2.28 annualized dividend and a yield of 1.23%. Houlihan Lokey’s dividend payout ratio (DPR) is currently 46.63%.

Insiders Place Their Bets

In other news, Chairman Scott L. Beiser sold 8,317 shares of the business’s stock in a transaction that occurred on Friday, August 16th. The shares were sold at an average price of $151.89, for a total value of $1,263,269.13. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. In other news, Director Gillian Beth Zucker sold 200 shares of the firm’s stock in a transaction on Tuesday, August 20th. The stock was sold at an average price of $152.49, for a total transaction of $30,498.00. Following the completion of the transaction, the director now directly owns 7,001 shares in the company, valued at $1,067,582.49. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, 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 value of $1,263,269.13. The disclosure for this sale can be found here. Insiders sold a total of 9,917 shares of company stock valued at $1,513,129 over the last 90 days. 23.68% of the stock is owned by company insiders.

About Houlihan Lokey

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.