Houlihan Lokey, Inc. (NYSE:HLI) was downgraded by Zacks Investment Research from a “strong-buy” rating to a “hold” rating in a report released on Tuesday.
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. “
Other research analysts also recently issued reports about the stock. BidaskClub downgraded shares of Houlihan Lokey from a “strong-buy” rating to a “buy” rating in a research note on Tuesday, July 25th. ValuEngine raised shares of Houlihan Lokey from a “hold” rating to a “buy” rating in a report on Friday, September 15th. UBS AG reissued a “buy” rating and set a $42.00 target price (up from $40.00) on shares of Houlihan Lokey in a report on Wednesday, July 26th. TheStreet raised shares of Houlihan Lokey from a “c” rating to a “b-” rating in a report on Monday, August 14th. Finally, Bank of America Corporation increased their target price on shares of Houlihan Lokey from $40.00 to $44.00 and gave the stock a “neutral” rating in a report on Wednesday, October 25th. Two investment analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. The company presently has an average rating of “Buy” and a consensus target price of $42.33.
Houlihan Lokey (HLI) opened at $42.40 on Tuesday. Houlihan Lokey has a 52 week low of $24.84 and a 52 week high of $44.15. The company has a current ratio of 0.92, a quick ratio of 0.92 and a debt-to-equity ratio of 0.02. The company has a market cap of $2,825.43, a price-to-earnings ratio of 19.09, a price-to-earnings-growth ratio of 2.82 and a beta of 0.38.
Houlihan Lokey (NYSE:HLI) last posted its quarterly earnings data on Tuesday, October 24th. The financial services provider reported $0.56 EPS for the quarter, beating the Zacks’ consensus estimate of $0.41 by $0.15. Houlihan Lokey had a net margin of 14.58% and a return on equity of 19.71%. The firm had revenue of $242.20 million for the quarter, compared to the consensus estimate of $207.72 million. During the same period in the prior year, the firm posted $0.37 EPS. The firm’s revenue was up 29.9% compared to the same quarter last year. equities research analysts predict that Houlihan Lokey will post 2.1 earnings per share for the current fiscal year.
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In related news, major shareholder Orix Hlhz Holding Llc sold 686,760 shares of the stock in a transaction dated Thursday, September 14th. The shares were sold at an average price of $36.26, for a total value of $24,901,917.60. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, Chairman Irwin Gold sold 91,453 shares of the stock in a transaction dated Monday, October 30th. The stock was sold at an average price of $41.63, for a total transaction of $3,807,188.39. Following the completion of the sale, the chairman now directly owns 102,314 shares in the company, valued at approximately $4,259,331.82. The disclosure for this sale can be found here. Insiders have sold 2,807,387 shares of company stock worth $113,183,620 over the last three months. 69.70% of the stock is owned by corporate insiders.
Several hedge funds have recently added to or reduced their stakes in the stock. Alps Advisors Inc. increased its holdings in shares of Houlihan Lokey by 0.3% in the 2nd quarter. Alps Advisors Inc. now owns 14,945 shares of the financial services provider’s stock worth $522,000 after acquiring an additional 39 shares during the period. American International Group Inc. increased its holdings in shares of Houlihan Lokey by 7.1% in the 1st quarter. American International Group Inc. now owns 7,512 shares of the financial services provider’s stock worth $259,000 after acquiring an additional 497 shares during the period. Legal & General Group Plc increased its holdings in shares of Houlihan Lokey by 12.3% in the 2nd quarter. Legal & General Group Plc now owns 5,198 shares of the financial services provider’s stock worth $182,000 after acquiring an additional 570 shares during the period. Victory Capital Management Inc. increased its stake in Houlihan Lokey by 17.6% during the 2nd quarter. Victory Capital Management Inc. now owns 5,398 shares of the financial services provider’s stock valued at $188,000 after buying an additional 808 shares during the period. Finally, GSA Capital Partners LLP increased its stake in Houlihan Lokey by 3.5% during the 2nd quarter. GSA Capital Partners LLP now owns 49,601 shares of the financial services provider’s stock valued at $1,731,000 after buying an additional 1,691 shares during the period. 32.76% of the stock is currently 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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