Argent Capital Management LLC Trims Stock Position in Houlihan Lokey, Inc. (NYSE:HLI)

Argent Capital Management LLC lowered its stake in shares of Houlihan Lokey, Inc. (NYSE:HLI) by 1.2% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 240,813 shares of the financial services provider’s stock after selling 3,031 shares during the quarter. Argent Capital Management LLC owned about 0.35% of Houlihan Lokey worth $38,053,000 at the end of the most recent quarter.

Other large investors have also modified their holdings of the company. Quantbot Technologies LP lifted its stake in shares of Houlihan Lokey by 624.8% in the 1st quarter. Quantbot Technologies LP now owns 7,270 shares of the financial services provider’s stock valued at $932,000 after purchasing an additional 6,267 shares in the last quarter. Vanguard Group Inc. increased its position in shares of Houlihan Lokey by 0.6% in the first quarter. Vanguard Group Inc. now owns 5,104,143 shares of the financial services provider’s stock worth $654,300,000 after acquiring an additional 29,843 shares in the last quarter. Sei Investments Co. increased its position in shares of Houlihan Lokey by 5.5% in the first quarter. Sei Investments Co. now owns 731,130 shares of the financial services provider’s stock worth $93,723,000 after acquiring an additional 37,882 shares in the last quarter. Duality Advisers LP purchased a new position in shares of Houlihan Lokey in the 1st quarter valued at $690,000. Finally, Janus Henderson Group PLC lifted its holdings in shares of Houlihan Lokey by 27.1% during the 1st quarter. Janus Henderson Group PLC now owns 30,656 shares of the financial services provider’s stock valued at $3,927,000 after acquiring an additional 6,535 shares in the last quarter. 78.07% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In related news, General Counsel Christopher M. Crain sold 1,000 shares of the firm’s stock in a transaction on Tuesday, September 3rd. The stock was sold at an average price of $155.29, for a total transaction of $155,290.00. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In related news, Chairman Scott L. Beiser sold 8,317 shares of the firm’s stock in a transaction that occurred 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 sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, General Counsel Christopher M. Crain sold 1,000 shares of the business’s stock in a transaction that occurred on Tuesday, September 3rd. The shares were sold at an average price of $155.29, for a total value of $155,290.00. The disclosure for this sale can be found here. In the last ninety days, insiders sold 9,917 shares of company stock worth $1,513,129. 25.97% of the stock is currently owned by insiders.

Analyst Ratings Changes

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

Houlihan Lokey Price Performance

Shares of NYSE:HLI traded up $1.04 during midday trading on Thursday, reaching $167.18. The company had a trading volume of 60,884 shares, compared to its average volume of 319,136. The stock has a market capitalization of $11.47 billion, a P/E ratio of 40.71 and a beta of 0.66. The stock’s fifty day moving average price is $158.78 and its 200-day moving average price is $143.71. Houlihan Lokey, Inc. has a one year low of $94.67 and a one year high of $175.21.

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

Houlihan Lokey Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Sunday, September 15th. Shareholders of record on Tuesday, September 3rd were issued a dividend of $0.57 per share. This represents a $2.28 dividend on an annualized basis and a yield of 1.36%. The ex-dividend date of this dividend was Tuesday, September 3rd. Houlihan Lokey’s dividend payout ratio is presently 55.47%.

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.