Zacks Investment Research lowered shares of Houlihan Lokey, Inc. (NYSE:HLI) from a strong-buy rating to a hold rating in a report published on Tuesday morning.
According to Zacks, “Houlihan Lokey, Inc. is an investment bank which focuses on mergers and acquisitions, financings, financial restructurings and financial advisory services. The Company’s operating segments consist of Corporate Finance, encompassing M&A and capital markets advisory; Financial Restructuring both out-of-court and in formal bankruptcy or insolvency proceedings; Financial Advisory Services, including financial opinions and a variety of valuation services; and Strategic Consulting, which advises in the areas of strategy development, operations, and performance improvement. It operates primarily in the United States, Europe, Asia and Australia. Houlihan Lokey, Inc. is headquartered in LOS ANGELES, United States. “
Several other research firms have also issued reports on HLI. Bank of America Corporation lifted their target price on Houlihan Lokey from $40.00 to $44.00 and gave the company a neutral rating in a research note on Wednesday, October 25th. UBS AG lifted their target price on Houlihan Lokey from $44.00 to $47.00 and gave the company a buy rating in a research note on Wednesday, October 25th. Keefe, Bruyette & Woods reiterated a buy rating on shares of Houlihan Lokey in a research note on Tuesday, October 3rd. ValuEngine upgraded Houlihan Lokey from a hold rating to a buy rating in a research note on Friday, September 15th. Finally, J P Morgan Chase & Co initiated coverage on Houlihan Lokey in a research note on Tuesday, September 12th. They issued an overweight rating and a $42.00 target price on the stock. Two research analysts have rated the stock with a hold rating and six have issued a buy rating to the company. The stock has an average rating of Buy and a consensus price target of $42.33.
Shares of Houlihan Lokey (NYSE HLI) traded up $0.04 during trading on Tuesday, hitting $42.41. The stock had a trading volume of 257,985 shares, compared to its average volume of 307,684. The stock has a market capitalization of $2,800.00 and a price-to-earnings ratio of 19.09. The company has a debt-to-equity ratio of 0.02, a quick ratio of 0.92 and a current ratio of 0.92. Houlihan Lokey has a 1 year low of $26.69 and a 1 year high of $44.15.
Houlihan Lokey (NYSE:HLI) last announced its quarterly earnings results on Tuesday, October 24th. The financial services provider reported $0.56 EPS for the quarter, beating the consensus estimate of $0.41 by $0.15. The firm had revenue of $242.20 million for the quarter, compared to analyst estimates of $207.72 million. Houlihan Lokey had a return on equity of 19.71% and a net margin of 14.58%. The business’s revenue for the quarter was up 29.9% on a year-over-year basis. During the same quarter last year, the firm posted $0.37 earnings per share. research analysts forecast that Houlihan Lokey will post 2.1 earnings per share for the current year.
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The business also recently announced a quarterly dividend, which will be paid on Friday, December 15th. Shareholders of record on Monday, December 4th will be paid a $0.20 dividend. The ex-dividend date is Friday, December 1st. This represents a $0.80 annualized dividend and a yield of 1.89%. Houlihan Lokey’s dividend payout ratio (DPR) is presently 37.91%.
In other Houlihan Lokey news, insider Scott Joseph Adelson sold 60,589 shares of Houlihan Lokey stock in a transaction dated Monday, October 30th. The stock was sold at an average price of $41.63, for a total value of $2,522,320.07. Following the transaction, the insider now owns 90,683 shares in the company, valued at $3,775,133.29. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, major shareholder Orix Hlhz Holding Llc sold 686,760 shares of the firm’s stock in a transaction dated Thursday, September 14th. The stock was sold at an average price of $36.26, for a total value of $24,901,917.60. The disclosure for this sale can be found here. Insiders sold 2,807,387 shares of company stock worth $113,183,620 in the last quarter. 69.70% of the stock is owned by insiders.
Hedge funds and other institutional investors have recently modified their holdings of the business. SG Americas Securities LLC acquired a new stake in Houlihan Lokey in the second quarter worth about $105,000. Advisor Group Inc. boosted its holdings in Houlihan Lokey by 2,125.0% in the third quarter. Advisor Group Inc. now owns 2,848 shares of the financial services provider’s stock worth $112,000 after acquiring an additional 2,720 shares in the last quarter. Tower Research Capital LLC TRC boosted its holdings in Houlihan Lokey by 122.9% in the second quarter. Tower Research Capital LLC TRC now owns 4,300 shares of the financial services provider’s stock worth $150,000 after acquiring an additional 2,371 shares in the last quarter. Legal & General Group Plc boosted its holdings in 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 acquiring an additional 1,270 shares in the last quarter. Finally, Victory Capital Management Inc. boosted its holdings in Houlihan Lokey by 17.6% in the second quarter. Victory Capital Management Inc. now owns 5,398 shares of the financial services provider’s stock worth $188,000 after acquiring an additional 808 shares in the last quarter. 32.76% of the stock is owned by institutional investors and hedge funds.
About Houlihan Lokey
Houlihan Lokey, Inc is a global independent investment bank that focuses on mergers and acquisitions (M&A), capital markets, financial restructuring, valuation, and strategic consulting. The Company operates through four segments: Corporate Finance, Financial Restructuring, Financial Advisory Services and Strategic Consulting.
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