Houlihan Lokey, Inc. (HLI) Rating Lowered to Buy at BidaskClub

Houlihan Lokey, Inc. (NYSE:HLI) was downgraded by equities researchers at BidaskClub from a “strong-buy” rating to a “buy” rating in a research report issued to clients and investors on Tuesday.

HLI has been the subject of a number of other research reports. Zacks Investment Research lowered shares of Houlihan Lokey from a “buy” rating to a “hold” rating in a report on Wednesday, April 5th. JMP Securities reiterated an “outperform” rating and issued a $36.00 price objective (up previously from $34.00) on shares of Houlihan Lokey in a report on Friday, April 7th. Bank of America Corporation lowered shares of Houlihan Lokey from a “buy” rating to a “neutral” rating and raised their price objective for the company from $36.00 to $38.00 in a report on Thursday, May 11th. They noted that the move was a valuation call. Finally, Keefe, Bruyette & Woods reiterated a “buy” rating and issued a $38.00 price objective on shares of Houlihan Lokey in a report on Wednesday, June 14th. Three investment analysts have rated the stock with a hold rating and four have given a buy rating to the stock. Houlihan Lokey currently has an average rating of “Buy” and a consensus target price of $36.00.

Shares of Houlihan Lokey (NYSE:HLI) traded up 2.78% during midday trading on Tuesday, hitting $37.76. 116,250 shares of the stock traded hands. Houlihan Lokey has a 52 week low of $22.61 and a 52 week high of $37.81. The firm’s 50-day moving average is $35.27 and its 200 day moving average is $33.35. The company has a market capitalization of $2.53 billion, a price-to-earnings ratio of 23.17 and a beta of 0.30.

Houlihan Lokey (NYSE:HLI) last posted its earnings results on Tuesday, May 9th. The financial services provider reported $0.59 EPS for the quarter, topping analysts’ consensus estimates of $0.45 by $0.14. The firm had revenue of $257.10 million during the quarter, compared to analysts’ expectations of $207.02 million. Houlihan Lokey had a net margin of 12.42% and a return on equity of 17.83%. The business’s revenue for the quarter was up 40.0% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.43 earnings per share. Equities analysts forecast that Houlihan Lokey will post $1.95 earnings per share for the current year.

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A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Victory Capital Management Inc. raised its position in shares of Houlihan Lokey by 9.1% in the first quarter. Victory Capital Management Inc. now owns 4,590 shares of the financial services provider’s stock worth $158,000 after buying an additional 381 shares during the period. Legal & General Group Plc raised its position in shares of Houlihan Lokey by 37.8% in the first quarter. Legal & General Group Plc now owns 4,628 shares of the financial services provider’s stock worth $159,000 after buying an additional 1,270 shares during the period. O Shaughnessy Asset Management LLC acquired a new position in shares of Houlihan Lokey during the first quarter worth about $182,000. Jane Street Group LLC acquired a new position in shares of Houlihan Lokey during the first quarter worth about $205,000. Finally, American International Group Inc. raised its position in shares of Houlihan Lokey by 7.1% in the first quarter. American International Group Inc. now owns 7,512 shares of the financial services provider’s stock worth $259,000 after buying an additional 497 shares during the period. Institutional investors and hedge funds own 32.65% of the company’s stock.

Houlihan Lokey Company Profile

Houlihan Lokey, Inc is a global independent investment bank that focuses on mergers and acquisitions (M&A), financings, financial restructurings and financial advisory services. The Company operates through three segments: Corporate Finance, Financial Restructuring and Financial Advisory Services. The Company serves a set of clients across the world, including corporations, financial sponsors and government agencies.