Truist Financial Corp Trims Position in Houlihan Lokey, Inc. (NYSE:HLI)

Truist Financial Corp decreased its position in shares of Houlihan Lokey, Inc. (NYSE:HLI) by 10.2% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 40,318 shares of the financial services provider’s stock after selling 4,556 shares during the quarter. Truist Financial Corp owned approximately 0.06% of Houlihan Lokey worth $4,835,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also recently modified their holdings of the company. Yousif Capital Management LLC acquired a new stake in Houlihan Lokey during the fourth quarter worth $2,960,000. Raymond James & Associates raised its holdings in Houlihan Lokey by 14.6% in the 4th quarter. Raymond James & Associates now owns 137,643 shares of the financial services provider’s stock valued at $16,505,000 after buying an additional 17,544 shares during the period. Nordea Investment Management AB lifted its position in Houlihan Lokey by 3.6% in the third quarter. Nordea Investment Management AB now owns 427,325 shares of the financial services provider’s stock valued at $46,121,000 after buying an additional 14,893 shares during the last quarter. Assenagon Asset Management S.A. purchased a new position in Houlihan Lokey during the fourth quarter worth about $1,358,000. Finally, Wellington Management Group LLP increased its position in shares of Houlihan Lokey by 56.1% during the third quarter. Wellington Management Group LLP now owns 2,723,687 shares of the financial services provider’s stock valued at $291,761,000 after acquiring an additional 978,776 shares during the last quarter. Hedge funds and other institutional investors own 78.07% of the company’s stock.

Insiders Place Their Bets

In other news, General Counsel Christopher M. Crain sold 1,000 shares of Houlihan Lokey stock in a transaction dated Friday, March 1st. The stock was sold at an average price of $128.94, for a total value of $128,940.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 25.97% of the stock is owned by company insiders.

Analysts Set New Price Targets

A number of research firms recently weighed in on HLI. Keefe, Bruyette & Woods reaffirmed a “market perform” rating and set a $127.00 price objective on shares of Houlihan Lokey in a research report on Monday, January 29th. JMP Securities reaffirmed a “market perform” rating on shares of Houlihan Lokey in a research note on Tuesday, April 9th. Finally, UBS Group increased their target price on Houlihan Lokey from $136.00 to $142.00 and gave the stock a “buy” rating in a research note on Friday, February 2nd.

Houlihan Lokey Stock Up 1.0 %

Shares of HLI opened at $131.90 on Monday. The company has a market cap of $9.12 billion, a P/E ratio of 32.73 and a beta of 0.67. Houlihan Lokey, Inc. has a fifty-two week low of $84.89 and a fifty-two week high of $133.80. The firm’s 50 day moving average price is $126.78 and its 200 day moving average price is $119.01.

Houlihan Lokey (NYSE:HLI) last posted its quarterly earnings data on Thursday, February 1st. The financial services provider reported $1.22 earnings per share for the quarter, topping analysts’ consensus estimates of $1.12 by $0.10. The business had revenue of $511.30 million for the quarter, compared to analyst estimates of $493.02 million. Houlihan Lokey had a return on equity of 18.06% and a net margin of 14.90%. The company’s revenue was up 12.0% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.14 earnings per share. Research analysts forecast that Houlihan Lokey, Inc. will post 4.42 earnings per share for the current year.

Houlihan Lokey 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.