AE Wealth Management LLC Raises Stake in Houlihan Lokey, Inc. (NYSE:HLI)

Posted by Defense World Staff on Oct 3rd, 2023

AE Wealth Management LLC grew its stake in shares of Houlihan Lokey, Inc. (NYSE:HLI – Free Report) by 5.1% during the 2nd quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 2,847 shares of the financial services provider’s stock after purchasing an additional 138 shares during the period. AE Wealth Management LLC’s holdings in Houlihan Lokey were worth $280,000 at the end of the most recent reporting period.

Several other institutional investors also recently made changes to their positions in the stock. SG Americas Securities LLC boosted its position in shares of Houlihan Lokey by 7.0% during the 2nd quarter. SG Americas Securities LLC now owns 1,733 shares of the financial services provider’s stock worth $170,000 after purchasing an additional 113 shares in the last quarter. Fulton Bank N.A. boosted its position in shares of Houlihan Lokey by 8.8% in the 2nd quarter. Fulton Bank N.A. now owns 5,419 shares of the financial services provider’s stock worth $533,000 after buying an additional 440 shares in the last quarter. State Board of Administration of Florida Retirement System boosted its position in shares of Houlihan Lokey by 2.4% in the 1st quarter. State Board of Administration of Florida Retirement System now owns 17,272 shares of the financial services provider’s stock worth $1,511,000 after buying an additional 400 shares in the last quarter. Macquarie Group Ltd. boosted its position in shares of Houlihan Lokey by 89.9% in the 1st quarter. Macquarie Group Ltd. now owns 366,880 shares of the financial services provider’s stock worth $32,098,000 after buying an additional 173,663 shares in the last quarter. Finally, Ameriprise Financial Inc. boosted its position in shares of Houlihan Lokey by 27.0% in the 1st quarter. Ameriprise Financial Inc. now owns 955,048 shares of the financial services provider’s stock worth $83,557,000 after buying an additional 203,035 shares in the last quarter. 98.87% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several brokerages recently weighed in on HLI. StockNews.com began coverage on shares of Houlihan Lokey in a research note on Thursday, August 17th. They issued a “hold” rating for the company. Morgan Stanley upped their price objective on shares of Houlihan Lokey from $81.00 to $101.00 in a research note on Wednesday, July 12th.

Get Our Latest Report on HLI

Insiders Place Their Bets

In other Houlihan Lokey news, General Counsel Christopher M. Crain sold 1,000 shares of the company’s stock in a transaction that occurred on Wednesday, August 16th. The stock was sold at an average price of $100.66, for a total value of $100,660.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. 25.97% of the stock is owned by company insiders.

Houlihan Lokey Price Performance

NYSE HLI opened at $105.53 on Tuesday. The company has a 50-day moving average of $104.08 and a 200-day moving average of $96.31. The company has a market cap of $7.32 billion, a P/E ratio of 27.99 and a beta of 0.77. Houlihan Lokey, Inc. has a 12 month low of $74.51 and a 12 month high of $110.94.

Houlihan Lokey (NYSE:HLI – Get Free Report) last posted its earnings results on Thursday, July 27th. The financial services provider reported $0.89 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.02 by ($0.13). The business had revenue of $415.83 million for the quarter, compared to analyst estimates of $438.00 million. Houlihan Lokey had a return on equity of 19.40% and a net margin of 14.38%. The firm’s revenue for the quarter was down .7% compared to the same quarter last year. During the same period last year, the company posted $1.10 EPS. As a group, equities research analysts anticipate that Houlihan Lokey, Inc. will post 4.4 EPS for the current year.

Houlihan Lokey Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, September 15th. Investors of record on Friday, September 1st were given a dividend of $0.55 per share. This represents a $2.20 dividend on an annualized basis and a yield of 2.08%. The ex-dividend date was Thursday, August 31st. Houlihan Lokey’s dividend payout ratio (DPR) is presently 58.36%.

Houlihan Lokey Company Profile

(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.