Houlihan Lokey (HLI) to Repurchase $50 million in Shares

Houlihan Lokey (NYSE:HLI) declared that its board has initiated a stock buyback program, which permits the company to buyback $50 million in outstanding shares on Monday, February 6th, EventVestor reports. This buyback authorization permits the financial services provider to reacquire up to 2.3% of its shares through open market purchases. Shares buyback programs are generally an indication that the company’s management believes its shares are undervalued.

Houlihan Lokey (NYSE:HLI) traded up 1.27% during midday trading on Thursday, reaching $33.41. The company’s stock had a trading volume of 185,053 shares. The company has a 50 day moving average of $33.01 and a 200-day moving average of $29.82. Houlihan Lokey has a 1-year low of $20.96 and a 1-year high of $34.95. The company has a market capitalization of $2.23 billion, a P/E ratio of 22.91 and a beta of 0.38.

Houlihan Lokey (NYSE:HLI) last announced its quarterly earnings results on Wednesday, February 1st. The financial services provider reported $0.57 EPS for the quarter, topping analysts’ consensus estimates of $0.50 by $0.07. The firm earned $248 million during the quarter, compared to analysts’ expectations of $225.36 million. Houlihan Lokey had a net margin of 12.15% and a return on equity of 16.62%. The company’s revenue for the quarter was up 20.5% compared to the same quarter last year. During the same quarter last year, the company earned $0.47 earnings per share. Equities research analysts anticipate that Houlihan Lokey will post $1.75 earnings per share for the current fiscal year.

Several equities analysts recently issued reports on the company. Zacks Investment Research lowered Houlihan Lokey from a “buy” rating to a “hold” rating in a research note on Tuesday, March 14th. JMP Securities reaffirmed an “outperform” rating and issued a $36.00 price target (up previously from $34.00) on shares of Houlihan Lokey in a research report on Friday, April 7th. One analyst has rated the stock with a sell rating, one has given a hold rating and three have given a buy rating to the stock. Houlihan Lokey presently has a consensus rating of “Hold” and an average price target of $33.33.

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In other Houlihan Lokey news, insider David A. Preiser sold 6,711 shares of the firm’s stock in a transaction dated Wednesday, March 15th. The shares were sold at an average price of $29.05, for a total transaction of $194,954.55. Following the completion of the transaction, the insider now owns 6,711 shares in the company, valued at $194,954.55. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Robert A. Schriesheim acquired 4,870 shares of the company’s stock in a transaction dated Monday, February 13th. The shares were purchased at an average cost of $30.73 per share, with a total value of $149,655.10. Following the acquisition, the director now owns 16,361 shares of the company’s stock, valued at approximately $502,773.53. The disclosure for this purchase can be found here. 60.40% of the stock is owned by company insiders.

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.

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