Franklin Parlapiano Turner & Welch LLC Sells 2,278 Shares of Houlihan Lokey, Inc. (NYSE:HLI)

Franklin Parlapiano Turner & Welch LLC cut its position in shares of Houlihan Lokey, Inc. (NYSE:HLI) by 3.3% in the 3rd quarter, HoldingsChannel.com reports. The firm owned 65,733 shares of the financial services provider’s stock after selling 2,278 shares during the period. Houlihan Lokey accounts for 2.7% of Franklin Parlapiano Turner & Welch LLC’s holdings, making the stock its 8th biggest position. Franklin Parlapiano Turner & Welch LLC’s holdings in Houlihan Lokey were worth $10,387,000 at the end of the most recent quarter.

Other institutional investors also recently bought and sold shares of the company. Millennium Management LLC increased its stake in shares of Houlihan Lokey by 24,074.0% during the 2nd quarter. Millennium Management LLC now owns 501,610 shares of the financial services provider’s stock worth $67,647,000 after purchasing an additional 499,535 shares in the last quarter. Jennison Associates LLC lifted its position in shares of Houlihan Lokey by 87.2% in the first quarter. Jennison Associates LLC now owns 347,165 shares of the financial services provider’s stock valued at $44,503,000 after acquiring an additional 161,753 shares in the last quarter. PineStone Asset Management Inc. purchased a new position in Houlihan Lokey in the 2nd quarter valued at about $10,141,000. Earnest Partners LLC lifted its stake in shares of Houlihan Lokey by 1.9% during the second quarter. Earnest Partners LLC now owns 3,273,818 shares of the financial services provider’s stock valued at $441,507,000 after buying an additional 62,314 shares during the period. Finally, Nordea Investment Management AB boosted its position in Houlihan Lokey by 10.7% during the first quarter. Nordea Investment Management AB now owns 475,312 shares of the financial services provider’s stock worth $61,011,000 after acquiring an additional 46,067 shares during the last quarter. 78.07% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several equities analysts recently commented on HLI shares. Wells Fargo & Company initiated coverage on Houlihan Lokey in a research note on Thursday, September 12th. They issued an “underweight” rating and a $149.00 target price for the company. UBS Group upped their price target on shares of Houlihan Lokey from $170.00 to $190.00 and gave the stock a “buy” rating in a research report on Tuesday, October 8th. JPMorgan Chase & Co. dropped their target price on Houlihan Lokey from $132.00 to $129.00 and set a “neutral” rating on the stock in a report on Wednesday, July 31st. Keefe, Bruyette & Woods reiterated a “market perform” rating and set a $154.00 price objective (up previously from $139.00) on shares of Houlihan Lokey in a research note on Wednesday, July 31st. Finally, Morgan Stanley raised their target price on Houlihan Lokey from $146.00 to $163.00 and gave the company an “equal weight” rating in a research note on Monday, September 23rd. One analyst has rated the stock with a sell rating, four have issued a hold rating and one has given a buy rating to the stock. According to data from MarketBeat, Houlihan Lokey has a consensus rating of “Hold” and a consensus price target of $157.00.

Insider Activity at Houlihan Lokey

In other Houlihan Lokey news, Chairman Scott L. Beiser sold 8,317 shares of the company’s stock in a transaction on Friday, August 16th. The stock was sold at an average price of $151.89, for a total value of $1,263,269.13. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. In other Houlihan Lokey news, Chairman Scott L. Beiser sold 8,317 shares of the company’s stock in a transaction dated Friday, August 16th. The shares were sold at an average price of $151.89, for a total transaction of $1,263,269.13. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Gillian Beth Zucker sold 200 shares of the business’s stock in a transaction on Tuesday, August 20th. The shares were sold at an average price of $152.49, for a total transaction of $30,498.00. Following the sale, the director now directly owns 7,001 shares in the company, valued at approximately $1,067,582.49. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 9,917 shares of company stock valued at $1,513,129 over the last 90 days. 25.97% of the stock is currently owned by corporate insiders.

Houlihan Lokey Stock Performance

Shares of NYSE:HLI opened at $166.07 on Thursday. The company’s fifty day moving average is $158.78 and its two-hundred day moving average is $143.71. Houlihan Lokey, Inc. has a 1-year low of $94.67 and a 1-year high of $175.21. The stock has a market capitalization of $11.39 billion, a price-to-earnings ratio of 40.41 and a beta of 0.66.

Houlihan Lokey (NYSE:HLI) last announced its quarterly earnings results on Tuesday, July 30th. The financial services provider reported $1.22 earnings per share (EPS) for the quarter, meeting the consensus estimate of $1.22. The company had revenue of $514.00 million during the quarter, compared to the consensus estimate of $508.70 million. Houlihan Lokey had a net margin of 15.30% and a return on equity of 18.80%. The company’s revenue for the quarter was up 23.6% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.89 earnings per share. Sell-side analysts expect that Houlihan Lokey, Inc. will post 5.64 EPS for the current fiscal year.

Houlihan Lokey Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Sunday, September 15th. Investors of record on Tuesday, September 3rd were given a $0.57 dividend. The ex-dividend date of this dividend was Tuesday, September 3rd. This represents a $2.28 dividend on an annualized basis and a yield of 1.37%. Houlihan Lokey’s dividend payout ratio is presently 55.47%.

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.