Zacks Investment Research upgraded shares of Houlihan Lokey (NYSE:HLI) from a hold rating to a buy rating in a research note published on Wednesday. Zacks Investment Research currently has $58.00 price target on the financial services provider’s stock.
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 have also issued research reports about the company. ValuEngine upgraded Houlihan Lokey from a hold rating to a buy rating in a report on Wednesday, May 2nd. Buckingham Research began coverage on Houlihan Lokey in a report on Thursday, April 5th. They issued a buy rating and a $54.00 price objective on the stock. Finally, Bank of America lifted their price target on Houlihan Lokey from $50.00 to $55.00 and gave the stock a neutral rating in a report on Tuesday. One equities research analyst has rated the stock with a hold rating and seven have given a buy rating to the stock. The stock presently has a consensus rating of Buy and an average target price of $51.33.
Shares of Houlihan Lokey opened at $51.22 on Wednesday, MarketBeat Ratings reports. The company has a debt-to-equity ratio of 0.01, a quick ratio of 0.72 and a current ratio of 0.72. The firm has a market capitalization of $3.40 billion, a price-to-earnings ratio of 21.43, a PEG ratio of 1.29 and a beta of 0.61. Houlihan Lokey has a fifty-two week low of $34.41 and a fifty-two week high of $52.86.
Houlihan Lokey (NYSE:HLI) last announced its quarterly earnings data on Wednesday, May 9th. The financial services provider reported $0.65 earnings per share for the quarter, beating analysts’ consensus estimates of $0.58 by $0.07. The company had revenue of $244.75 million for the quarter, compared to analyst estimates of $236.68 million. Houlihan Lokey had a return on equity of 19.69% and a net margin of 17.88%. The firm’s revenue for the quarter was down 4.8% on a year-over-year basis. During the same quarter last year, the firm posted $0.59 EPS. sell-side analysts expect that Houlihan Lokey will post 2.71 EPS for the current year.
The business also recently declared a quarterly dividend, which was paid on Friday, June 15th. Stockholders of record on Monday, June 4th were issued a dividend of $0.27 per share. This represents a $1.08 annualized dividend and a dividend yield of 2.11%. The ex-dividend date of this dividend was Friday, June 1st. This is a positive change from Houlihan Lokey’s previous quarterly dividend of $0.20. Houlihan Lokey’s payout ratio is currently 45.19%.
In other news, General Counsel Christopher M. Crain sold 655 shares of Houlihan Lokey stock in a transaction on Monday, June 4th. The stock was sold at an average price of $49.11, for a total transaction of $32,167.05. Following the transaction, the general counsel now owns 655 shares in the company, valued at approximately $32,167.05. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, major shareholder Orix Hlhz Holding Llc sold 218,000 shares of Houlihan Lokey stock in a transaction on Friday, May 18th. The stock was sold at an average price of $4,395,050.00, for a total value of $958,120,900,000.00. The disclosure for this sale can be found here. In the last quarter, insiders have sold 2,940,840 shares of company stock worth $989,723,085,872. Insiders own 69.70% of the company’s stock.
A number of institutional investors and hedge funds have recently modified their holdings of the stock. Principal Financial Group Inc. raised its holdings in Houlihan Lokey by 0.7% in the 1st quarter. Principal Financial Group Inc. now owns 262,907 shares of the financial services provider’s stock valued at $11,725,000 after buying an additional 1,874 shares during the period. Navellier & Associates Inc purchased a new stake in Houlihan Lokey in the 1st quarter valued at about $323,000. WINTON GROUP Ltd purchased a new stake in Houlihan Lokey in the 1st quarter valued at about $1,159,000. Royal Bank of Canada raised its holdings in Houlihan Lokey by 126.5% in the 1st quarter. Royal Bank of Canada now owns 11,391 shares of the financial services provider’s stock valued at $507,000 after buying an additional 6,362 shares during the period. Finally, Millennium Management LLC raised its holdings in Houlihan Lokey by 401.2% in the 1st quarter. Millennium Management LLC now owns 872,930 shares of the financial services provider’s stock valued at $38,933,000 after buying an additional 698,759 shares during the period. Hedge funds and other institutional investors own 46.09% of the company’s stock.
About Houlihan Lokey
Houlihan Lokey, Inc, an investment banking company, provides mergers and acquisitions (M&A), financings, financial restructurings, and financial advisory services in the United States, Canada, Europe, Asia, Australia, the Middle East, Latin America, and Africa. Its Corporate Finance segment offers general financial advisory services on M&A and capital markets offerings; advises public and private institutions on buy-side and sell-side transactions, leveraged loans, private mezzanine debt, high-yield debt, initial public offerings, follow-ons, convertibles, equity private placements, private equity, and liability management transactions; and advises financial sponsors on various transactions.
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