FineMark National Bank & Trust Cuts Stake in Houlihan Lokey, Inc. (NYSE:HLI)

FineMark National Bank & Trust lessened its holdings in Houlihan Lokey, Inc. (NYSE:HLI) by 28.0% during the fourth quarter, Holdings Channel.com reports. The firm owned 34,928 shares of the financial services provider’s stock after selling 13,555 shares during the quarter. FineMark National Bank & Trust’s holdings in Houlihan Lokey were worth $6,066,000 at the end of the most recent quarter.

Other hedge funds have also added to or reduced their stakes in the company. CIBC Asset Management Inc raised its holdings in shares of Houlihan Lokey by 5.0% during the fourth quarter. CIBC Asset Management Inc now owns 1,617 shares of the financial services provider’s stock valued at $281,000 after acquiring an additional 77 shares in the last quarter. M&T Bank Corp increased its position in Houlihan Lokey by 2.5% during the 4th quarter. M&T Bank Corp now owns 3,771 shares of the financial services provider’s stock valued at $655,000 after purchasing an additional 92 shares during the period. Atria Wealth Solutions Inc. raised its holdings in Houlihan Lokey by 6.2% in the 4th quarter. Atria Wealth Solutions Inc. now owns 1,625 shares of the financial services provider’s stock worth $282,000 after purchasing an additional 95 shares in the last quarter. State of Michigan Retirement System boosted its stake in shares of Houlihan Lokey by 0.8% during the 4th quarter. State of Michigan Retirement System now owns 12,700 shares of the financial services provider’s stock valued at $2,205,000 after purchasing an additional 100 shares in the last quarter. Finally, Pathstone Holdings LLC boosted its stake in shares of Houlihan Lokey by 0.5% during the 3rd quarter. Pathstone Holdings LLC now owns 21,787 shares of the financial services provider’s stock valued at $3,443,000 after purchasing an additional 115 shares in the last quarter. 78.07% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several analysts have commented on HLI shares. JMP Securities restated a “market perform” rating on shares of Houlihan Lokey in a report on Wednesday, January 29th. StockNews.com cut Houlihan Lokey from a “buy” rating to a “hold” rating in a research note on Tuesday, February 25th. JPMorgan Chase & Co. reduced their price target on Houlihan Lokey from $172.00 to $169.00 and set a “neutral” rating on the stock in a research note on Wednesday, January 29th. Morgan Stanley raised Houlihan Lokey from an “underweight” rating to an “overweight” rating and lowered their price objective for the company from $201.00 to $190.00 in a research report on Thursday, March 13th. Finally, Keefe, Bruyette & Woods reaffirmed a “market perform” rating and issued a $192.00 target price (up from $170.00) on shares of Houlihan Lokey in a research report on Wednesday, January 29th. Four investment analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to data from MarketBeat, Houlihan Lokey has an average rating of “Hold” and an average target price of $192.00.

Houlihan Lokey Price Performance

Shares of Houlihan Lokey stock opened at $166.89 on Tuesday. Houlihan Lokey, Inc. has a 1 year low of $122.14 and a 1 year high of $192.10. The firm’s 50-day moving average is $173.15 and its 200 day moving average is $172.45. The stock has a market cap of $11.71 billion, a price-to-earnings ratio of 31.85 and a beta of 0.72.

Houlihan Lokey (NYSE:HLI) last posted its quarterly earnings results on Tuesday, January 28th. The financial services provider reported $1.64 EPS for the quarter, beating analysts’ consensus estimates of $1.51 by $0.13. Houlihan Lokey had a net margin of 16.00% and a return on equity of 20.04%. On average, equities analysts expect that Houlihan Lokey, Inc. will post 5.98 EPS for the current fiscal year.

Houlihan Lokey Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Saturday, March 15th. Stockholders of record on Monday, March 3rd were issued a dividend of $0.57 per share. This represents a $2.28 dividend on an annualized basis and a dividend yield of 1.37%. The ex-dividend date of this dividend was Monday, March 3rd. Houlihan Lokey’s payout ratio is currently 43.51%.

About Houlihan Lokey

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.