Van ECK Associates Corp Purchases 176 Shares of Houlihan Lokey, Inc. (NYSE:HLI)

Posted by Defense World Staff on May 18th, 2023

Van ECK Associates Corp increased its position in shares of Houlihan Lokey, Inc. (NYSE:HLI – Get Rating) by 9.8% in the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,979 shares of the financial services provider’s stock after acquiring an additional 176 shares during the quarter. Van ECK Associates Corp’s holdings in Houlihan Lokey were worth $172,000 as of its most recent SEC filing.

Several other large investors have also recently modified their holdings of HLI. JPMorgan Chase & Co. raised its stake in shares of Houlihan Lokey by 16.8% during the 1st quarter. JPMorgan Chase & Co. now owns 117,793 shares of the financial services provider’s stock worth $10,342,000 after acquiring an additional 16,957 shares in the last quarter. American Century Companies Inc. grew its position in Houlihan Lokey by 57.5% during the 1st quarter. American Century Companies Inc. now owns 18,165 shares of the financial services provider’s stock worth $1,595,000 after purchasing an additional 6,633 shares during the last quarter. Bank of Montreal Can grew its position in Houlihan Lokey by 6.0% during the 1st quarter. Bank of Montreal Can now owns 18,962 shares of the financial services provider’s stock worth $1,777,000 after purchasing an additional 1,078 shares during the last quarter. MetLife Investment Management LLC grew its position in Houlihan Lokey by 54.8% during the 1st quarter. MetLife Investment Management LLC now owns 27,261 shares of the financial services provider’s stock worth $2,394,000 after purchasing an additional 9,655 shares during the last quarter. Finally, Panagora Asset Management Inc. purchased a new stake in Houlihan Lokey during the 1st quarter worth approximately $1,135,000. Institutional investors own 70.74% of the company’s stock.

Analyst Upgrades and Downgrades

Separately, StockNews.com began coverage on shares of Houlihan Lokey in a report on Thursday. They issued a “hold” rating on the stock. One analyst has rated the stock with a sell rating, three have issued a hold rating and two have issued a buy rating to the stock. According to data from MarketBeat.com, Houlihan Lokey currently has an average rating of “Hold” and a consensus price target of $89.60.

Houlihan Lokey Stock Performance

NYSE:HLI opened at $89.46 on Thursday. The company has a fifty day moving average of $89.36 and a two-hundred day moving average of $92.98. The stock has a market capitalization of $6.14 billion, a PE ratio of 22.94 and a beta of 0.76. Houlihan Lokey, Inc. has a fifty-two week low of $74.18 and a fifty-two week high of $102.36.

Houlihan Lokey (NYSE:HLI – Get Rating) last posted its quarterly earnings data on Tuesday, May 9th. The financial services provider reported $1.11 earnings per share for the quarter, topping analysts’ consensus estimates of $0.88 by $0.23. The company had revenue of $444.77 million during the quarter, compared to analysts’ expectations of $423.96 million. Houlihan Lokey had a net margin of 14.88% and a return on equity of 21.48%. The firm’s revenue for the quarter was down 5.6% on a year-over-year basis. During the same period in the prior year, the business posted $1.30 earnings per share. Research analysts forecast that Houlihan Lokey, Inc. will post 4.74 earnings per share for the current year.

Houlihan Lokey Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, June 15th. Shareholders of record on Friday, June 2nd will be given a dividend of $0.55 per share. The ex-dividend date is Thursday, June 1st. This is a boost from Houlihan Lokey’s previous quarterly dividend of $0.53. This represents a $2.20 dividend on an annualized basis and a yield of 2.46%. Houlihan Lokey’s dividend payout ratio is currently 54.36%.

Houlihan Lokey Profile

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Houlihan Lokey, Inc engages in the provision of investment banking services. It operates through the following segments: Corporate Finance, Financial Restructuring and Financial and Valuation Advisory. The Corporate Finance segment provides general financial advisory services in addition to advice on mergers and acquisitions and capital markets offering.