SummitTX Capital L.P. Has $1.95 Million Stock Holdings in Houlihan Lokey, Inc. $HLI

SummitTX Capital L.P. raised its holdings in shares of Houlihan Lokey, Inc. (NYSE:HLI) by 91.2% in the 1st quarter, according to its most recent 13F filing with the SEC. The fund owned 13,590 shares of the financial services provider’s stock after acquiring an additional 6,481 shares during the period. SummitTX Capital L.P.’s holdings in Houlihan Lokey were worth $1,952,000 at the end of the most recent reporting period.

Other large investors also recently made changes to their positions in the company. Royal Bank of Canada boosted its position in shares of Houlihan Lokey by 362.1% in the 4th quarter. Royal Bank of Canada now owns 1,703,369 shares of the financial services provider’s stock worth $296,706,000 after purchasing an additional 1,334,769 shares during the last quarter. Bank of Montreal Can increased its holdings in Houlihan Lokey by 2,723.2% in the fourth quarter. Bank of Montreal Can now owns 1,199,459 shares of the financial services provider’s stock valued at $208,934,000 after purchasing an additional 1,156,973 shares during the last quarter. Norges Bank bought a new stake in Houlihan Lokey in the fourth quarter valued at about $115,478,000. Vaughan Nelson Investment Management L.P. acquired a new position in Houlihan Lokey in the first quarter valued at about $35,728,000. Finally, Qube Research & Technologies Ltd lifted its stake in Houlihan Lokey by 153.8% in the second quarter. Qube Research & Technologies Ltd now owns 274,387 shares of the financial services provider’s stock valued at $49,376,000 after buying an additional 166,285 shares during the period. Institutional investors and hedge funds own 78.07% of the company’s stock.

Analyst Ratings Changes

A number of brokerages have issued reports on HLI. UBS Group raised their target price on Houlihan Lokey from $160.00 to $161.00 and gave the stock a “neutral” rating in a report on Wednesday, July 8th. Wolfe Research upgraded shares of Houlihan Lokey from an “underperform” rating to a “peer perform” rating in a research report on Thursday, July 9th. Bank of America initiated coverage on shares of Houlihan Lokey in a research report on Friday, July 10th. They issued a “buy” rating and a $164.00 price target on the stock. The Goldman Sachs Group set a $164.00 price objective on shares of Houlihan Lokey in a research note on Friday, July 10th. Finally, Keefe, Bruyette & Woods lowered their target price on shares of Houlihan Lokey from $172.00 to $160.00 and set an “outperform” rating for the company in a research note on Friday, July 10th. Five investment analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $180.50.

Insider Buying and Selling at Houlihan Lokey

In other news, Chairman Scott L. Beiser sold 6,265 shares of the company’s stock in a transaction that occurred on Thursday, May 21st. The shares were sold at an average price of $150.26, for a total value of $941,378.90. Following the completion of the transaction, the chairman owned 6,265 shares in the company, valued at $941,378.90. This represents a 50.00% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 22.83% of the stock is owned by company insiders.

Houlihan Lokey Price Performance

Shares of Houlihan Lokey stock opened at $145.32 on Wednesday. Houlihan Lokey, Inc. has a 1 year low of $130.72 and a 1 year high of $211.78. The business has a 50-day moving average of $140.59 and a two-hundred day moving average of $153.00. The company has a market capitalization of $10.04 billion, a P/E ratio of 23.36, a price-to-earnings-growth ratio of 1.20 and a beta of 0.95.

Houlihan Lokey (NYSE:HLI) last released its quarterly earnings data 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 net margin of 16.26% and a return on equity of 22.88%. The business had revenue of $635.64 million for the quarter, compared to the consensus estimate of $679.22 million. During the same quarter last year, the firm earned $1.96 EPS. The company’s revenue for the quarter was down 4.6% on a year-over-year basis. On average, equities analysts anticipate that Houlihan Lokey, Inc. will post 7.91 EPS for the current fiscal year.

Houlihan Lokey Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, June 15th. Shareholders of record on Monday, June 1st were paid a $0.70 dividend. The ex-dividend date of this dividend was Monday, June 1st. This is an increase from Houlihan Lokey’s previous quarterly dividend of $0.60. This represents a $2.80 dividend on an annualized basis and a yield of 1.9%. Houlihan Lokey’s payout ratio is presently 45.02%.

Houlihan Lokey Company Profile

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.