Houlihan Lokey (HLI) Raised to “Buy” at Zacks Investment Research

Zacks Investment Research upgraded shares of Houlihan Lokey (NYSE:HLI) from a hold rating to a buy rating in a research report released on Friday morning. They currently have $56.00 target price 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. “

HLI has been the topic of several other reports. ValuEngine raised Houlihan Lokey from a hold rating to a buy rating in a research note on Friday, September 15th. UBS Group boosted 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. Bank of America boosted 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. Finally, Keefe, Bruyette & Woods reaffirmed a buy rating and issued a $52.00 price target on shares of Houlihan Lokey in a research note on Thursday, January 11th. One investment analyst has rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. The company has a consensus rating of Buy and an average price target of $46.17.

Shares of Houlihan Lokey (HLI) traded up $0.63 during mid-day trading on Friday, reaching $50.25. The company’s stock had a trading volume of 304,700 shares, compared to its average volume of 204,444. The company has a quick ratio of 0.92, a current ratio of 0.92 and a debt-to-equity ratio of 0.02. Houlihan Lokey has a 12-month low of $29.51 and a 12-month high of $50.71. The company has a market capitalization of $3,370.00 and a P/E ratio of 23.82.

Houlihan Lokey (NYSE:HLI) last posted its earnings results on Tuesday, October 24th. The financial services provider reported $0.56 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.41 by $0.15. Houlihan Lokey had a return on equity of 19.71% and a net margin of 14.58%. The firm had revenue of $242.20 million for the quarter, compared to analysts’ expectations of $207.72 million. During the same period in the previous year, the firm earned $0.37 earnings per share. The business’s revenue was up 29.9% compared to the same quarter last year. equities analysts forecast that Houlihan Lokey will post 2.17 EPS for the current year.

In related news, CEO Scott L. Beiser sold 63,688 shares of the company’s stock in a transaction on Monday, October 30th. The stock was sold at an average price of $41.63, for a total value of $2,651,331.44. Following the sale, the chief executive officer now directly owns 78,108 shares of the company’s stock, valued at $3,251,636.04. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, General Counsel Christopher M. Crain sold 4,014 shares of the company’s stock in a transaction on Monday, October 30th. The stock was sold at an average price of $41.63, for a total value of $167,102.82. Following the completion of the sale, the general counsel now directly owns 6,063 shares in the company, valued at $252,402.69. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 2,120,627 shares of company stock worth $88,281,702. 69.70% of the stock is owned by insiders.

A number of hedge funds have recently modified their holdings of HLI. Schwab Charles Investment Management Inc. grew its stake in Houlihan Lokey by 133.3% in the second quarter. Schwab Charles Investment Management Inc. now owns 46,900 shares of the financial services provider’s stock worth $1,637,000 after purchasing an additional 26,800 shares during the period. Rhumbline Advisers boosted its holdings in Houlihan Lokey by 100.4% in the second quarter. Rhumbline Advisers now owns 25,109 shares of the financial services provider’s stock worth $876,000 after acquiring an additional 12,581 shares in the last quarter. SG Americas Securities LLC bought a new stake in Houlihan Lokey in the second quarter worth $105,000. Bank of New York Mellon Corp boosted its holdings in Houlihan Lokey by 3.2% in the second quarter. Bank of New York Mellon Corp now owns 137,759 shares of the financial services provider’s stock worth $4,808,000 after acquiring an additional 4,238 shares in the last quarter. Finally, Legal & General Group Plc boosted its holdings in Houlihan Lokey by 12.3% in the second 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 in the last quarter. 34.61% of the stock is currently owned by institutional investors.

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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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