Geneos Wealth Management Inc. Trims Holdings in Houlihan Lokey, Inc. (NYSE:HLI)

Posted by Defense World Staff on Jul 11th, 2023

Geneos Wealth Management Inc. cut its holdings in Houlihan Lokey, Inc. (NYSE:HLI – Free Report) by 18.3% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 14,656 shares of the financial services provider’s stock after selling 3,273 shares during the quarter. Geneos Wealth Management Inc.’s holdings in Houlihan Lokey were worth $1,282,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently modified their holdings of HLI. FDx Advisors Inc. boosted its holdings in shares of Houlihan Lokey by 2.6% during the 4th quarter. FDx Advisors Inc. now owns 4,173 shares of the financial services provider’s stock valued at $364,000 after acquiring an additional 107 shares during the last quarter. First Bank & Trust lifted its stake in shares of Houlihan Lokey by 3.2% in the 4th quarter. First Bank & Trust now owns 3,499 shares of the financial services provider’s stock worth $305,000 after purchasing an additional 109 shares during the period. Amalgamated Bank lifted its stake in shares of Houlihan Lokey by 1.4% in the 4th quarter. Amalgamated Bank now owns 8,211 shares of the financial services provider’s stock worth $716,000 after purchasing an additional 116 shares during the period. CWM LLC lifted its stake in shares of Houlihan Lokey by 0.7% in the 4th quarter. CWM LLC now owns 18,877 shares of the financial services provider’s stock worth $1,645,000 after purchasing an additional 134 shares during the period. Finally, Park Avenue Securities LLC lifted its stake in shares of Houlihan Lokey by 1.4% in the 4th quarter. Park Avenue Securities LLC now owns 9,996 shares of the financial services provider’s stock worth $871,000 after purchasing an additional 141 shares during the period.

Insider Activity

In other news, Chairman Irwin Gold sold 10,000 shares of Houlihan Lokey stock in a transaction that occurred on Wednesday, June 7th. The shares were sold at an average price of $91.23, for a total transaction of $912,300.00. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. In other news, General Counsel Christopher M. Crain sold 1,000 shares of Houlihan Lokey stock in a transaction that occurred on Monday, June 5th. The shares were sold at an average price of $90.74, for a total transaction of $90,740.00. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Chairman Irwin Gold sold 10,000 shares of the firm’s stock in a transaction on Wednesday, June 7th. The shares were sold at an average price of $91.23, for a total transaction of $912,300.00. The disclosure for this sale can be found here. Insiders have sold a total of 16,389 shares of company stock worth $1,488,535 over the last quarter. Insiders own 27.90% of the company’s stock.

Houlihan Lokey Trading Up 0.7 %

NYSE HLI opened at $95.89 on Tuesday. Houlihan Lokey, Inc. has a 12 month low of $74.18 and a 12 month high of $102.36. The stock has a market cap of $6.53 billion, a price-to-earnings ratio of 24.59 and a beta of 0.78. The company’s 50 day moving average is $91.39 and its two-hundred day moving average is $92.23.

Houlihan Lokey (NYSE:HLI – Get Free Report) last released its earnings results on Tuesday, May 9th. The financial services provider reported $1.11 EPS for the quarter, topping analysts’ consensus estimates of $0.88 by $0.23. Houlihan Lokey had a net margin of 14.88% and a return on equity of 20.96%. The company had revenue of $444.77 million for the quarter, compared to analysts’ expectations of $423.96 million. During the same quarter last year, the business earned $1.30 EPS. The firm’s revenue was down 5.6% compared to the same quarter last year. Sell-side analysts forecast that Houlihan Lokey, Inc. will post 4.72 EPS for the current year.

Houlihan Lokey Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, June 15th. Stockholders of record on Friday, June 2nd were given a dividend of $0.55 per share. The ex-dividend date of this dividend was Thursday, June 1st. This represents a $2.20 annualized dividend and a dividend yield of 2.29%. This is a boost from Houlihan Lokey’s previous quarterly dividend of $0.53. Houlihan Lokey’s dividend payout ratio (DPR) is presently 56.41%.

Analyst Ratings Changes

Separately, StockNews.com assumed coverage on shares of Houlihan Lokey in a research note on Thursday, May 18th. They issued a “hold” rating on the stock.

About Houlihan Lokey

(Free Report)

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.