Park Place Capital Corp Cuts Stock Holdings in Houlihan Lokey, Inc. (NYSE:HLI)

Park Place Capital Corp trimmed its position in shares of Houlihan Lokey, Inc. (NYSE:HLI) by 38.5% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 690 shares of the financial services provider’s stock after selling 432 shares during the quarter. Park Place Capital Corp’s holdings in Houlihan Lokey were worth $88,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also recently bought and sold shares of HLI. Wellington Management Group LLP boosted its holdings in Houlihan Lokey by 56.1% during the 3rd quarter. Wellington Management Group LLP now owns 2,723,687 shares of the financial services provider’s stock worth $291,761,000 after acquiring an additional 978,776 shares during the last quarter. Norges Bank bought a new stake in shares of Houlihan Lokey during the 4th quarter worth $70,225,000. Capital International Investors raised its stake in shares of Houlihan Lokey by 56.7% during the 4th quarter. Capital International Investors now owns 792,073 shares of the financial services provider’s stock worth $94,977,000 after purchasing an additional 286,746 shares during the period. Sei Investments Co. raised its stake in shares of Houlihan Lokey by 39.1% during the 4th quarter. Sei Investments Co. now owns 693,248 shares of the financial services provider’s stock worth $83,128,000 after purchasing an additional 194,867 shares during the period. Finally, Principal Financial Group Inc. raised its stake in shares of Houlihan Lokey by 819.2% during the 4th quarter. Principal Financial Group Inc. now owns 216,186 shares of the financial services provider’s stock worth $25,923,000 after purchasing an additional 192,668 shares during the period. 78.07% of the stock is owned by hedge funds and other institutional investors.

Houlihan Lokey Stock Up 0.3 %

Houlihan Lokey stock traded up $0.43 during midday trading on Monday, reaching $135.29. The stock had a trading volume of 239,809 shares, compared to its average volume of 340,383. Houlihan Lokey, Inc. has a 12 month low of $94.14 and a 12 month high of $137.92. The firm’s 50-day moving average price is $132.18 and its 200 day moving average price is $126.79. The firm has a market capitalization of $9.28 billion, a PE ratio of 32.81 and a beta of 0.67.

Houlihan Lokey (NYSE:HLI) last announced its quarterly earnings data on Wednesday, May 8th. The financial services provider reported $1.27 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.20 by $0.07. Houlihan Lokey had a return on equity of 18.08% and a net margin of 14.64%. The business had revenue of $520.46 million for the quarter, compared to analysts’ expectations of $508.99 million. During the same period in the previous year, the business posted $1.11 EPS. The firm’s quarterly revenue was up 17.0% compared to the same quarter last year. Equities research analysts expect that Houlihan Lokey, Inc. will post 5.63 EPS for the current year.

Houlihan Lokey Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Saturday, June 15th. Shareholders of record on Monday, June 3rd were issued a dividend of $0.57 per share. This represents a $2.28 dividend on an annualized basis and a yield of 1.69%. The ex-dividend date of this dividend was Monday, June 3rd. This is a positive change from Houlihan Lokey’s previous quarterly dividend of $0.55. Houlihan Lokey’s payout ratio is presently 55.47%.

Analyst Ratings Changes

A number of research firms have recently commented on HLI. JMP Securities reiterated a “market perform” rating on shares of Houlihan Lokey in a research note on Tuesday, April 9th. UBS Group lowered their target price on Houlihan Lokey from $157.00 to $145.00 and set a “buy” rating on the stock in a research note on Tuesday, May 14th.

Insider Buying and Selling at Houlihan Lokey

In other Houlihan Lokey news, insider David A. Preiser sold 20,000 shares of Houlihan Lokey stock in a transaction dated Tuesday, June 4th. The stock was sold at an average price of $133.21, for a total transaction of $2,664,200.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 25.97% of the company’s stock.

Houlihan Lokey Company Profile

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.