Hsbc Holdings PLC Reduces Stake in Houlihan Lokey, Inc. $HLI

Hsbc Holdings PLC reduced its holdings in Houlihan Lokey, Inc. (NYSE:HLI) by 28.7% during the first quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 18,295 shares of the financial services provider’s stock after selling 7,381 shares during the quarter. Hsbc Holdings PLC’s holdings in Houlihan Lokey were worth $2,635,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. Royal Bank of Canada boosted its holdings in Houlihan Lokey by 14.4% in the first quarter. Royal Bank of Canada now owns 49,584 shares of the financial services provider’s stock valued at $8,008,000 after acquiring an additional 6,253 shares in the last quarter. AQR Capital Management LLC lifted its position in shares of Houlihan Lokey by 50.0% in the 1st quarter. AQR Capital Management LLC now owns 29,654 shares of the financial services provider’s stock worth $4,598,000 after purchasing an additional 9,891 shares during the period. Millennium Management LLC bought a new stake in shares of Houlihan Lokey during the 1st quarter valued at about $18,964,000. Goldman Sachs Group Inc. increased its position in shares of Houlihan Lokey by 5.7% during the first quarter. Goldman Sachs Group Inc. now owns 415,743 shares of the financial services provider’s stock valued at $67,143,000 after buying an additional 22,553 shares during the period. Finally, Arrowstreet Capital Limited Partnership purchased a new position in shares of Houlihan Lokey during the second quarter valued at about $1,033,000. Institutional investors own 78.07% of the company’s stock.

Insider Transactions at Houlihan Lokey

In other Houlihan Lokey news, Chairman Scott L. Beiser sold 6,265 shares of the business’s stock in a transaction on Thursday, May 21st. The shares were sold at an average price of $150.26, for a total transaction of $941,378.90. Following the completion of the sale, the chairman directly owned 6,265 shares in the company, valued at approximately $941,378.90. The trade was a 50.00% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 22.83% of the company’s stock.

Houlihan Lokey Stock Up 1.7%

Shares of NYSE HLI opened at $140.17 on Friday. The company has a 50 day moving average of $140.85 and a 200 day moving average of $153.78. Houlihan Lokey, Inc. has a twelve month low of $130.72 and a twelve month high of $211.78. The firm has a market cap of $9.68 billion, a P/E ratio of 22.54, a PEG ratio of 1.19 and a beta of 0.95.

Houlihan Lokey (NYSE:HLI) last posted its quarterly earnings results on Wednesday, May 6th. The financial services provider reported $1.63 earnings per share for the quarter, missing the consensus estimate of $1.79 by ($0.16). Houlihan Lokey had a return on equity of 22.88% and a net margin of 16.26%.The business had revenue of $635.64 million during the quarter, compared to analysts’ expectations of $679.22 million. During the same quarter in the prior year, the firm earned $1.96 EPS. The firm’s revenue for the quarter was down 4.6% compared to the same quarter last year. As a group, equities analysts expect that Houlihan Lokey, Inc. will post 7.91 earnings per share for the current fiscal year.

Houlihan Lokey Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, June 15th. Investors of record on Monday, June 1st were given a dividend of $0.70 per share. This represents a $2.80 dividend on an annualized basis and a yield of 2.0%. This is a positive change from Houlihan Lokey’s previous quarterly dividend of $0.60. The ex-dividend date was Monday, June 1st. Houlihan Lokey’s payout ratio is currently 45.02%.

Wall Street Analysts Forecast Growth

A number of research analysts have weighed in on HLI shares. Zacks Research upgraded Houlihan Lokey from a “strong sell” rating to a “hold” rating in a report on Thursday, June 11th. Weiss Ratings restated a “hold (c)” rating on shares of Houlihan Lokey in a research report on Friday, July 17th. US Capital Advisors set a $187.00 target price on shares of Houlihan Lokey in a research report on Thursday, July 9th. Morgan Stanley decreased their price target on shares of Houlihan Lokey from $193.00 to $187.00 and set an “overweight” rating for the company in a research note on Thursday, July 9th. Finally, The Goldman Sachs Group set a $164.00 price target on shares of Houlihan Lokey in a research report on Friday, July 10th. Five research analysts have rated the stock with a Buy rating and five have given a Hold rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $180.50.

About Houlihan Lokey

Houlihan Lokey, Inc is a global investment bank and financial services firm founded in 1972 and headquartered in Los Angeles, California. The company specializes in advisory services across a broad range of transaction types and financial matters. Since its founding, Houlihan Lokey has grown to serve corporations, financial sponsors, and government entities worldwide, providing expertise in complex and high-stakes engagements.

The firm’s core service offerings include mergers and acquisitions advisory, capital markets advisory, financial restructuring and distressed M&A, and valuation and fairness opinions.