Houlihan Lokey (NYSE:HLI) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a note issued to investors on Wednesday. The firm currently has a $56.00 target price on the financial services provider’s stock. Zacks Investment Research‘s target price points to a potential upside of 10.39% from the company’s previous close.
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 a number of other reports. ValuEngine upgraded shares of Houlihan Lokey from a “hold” rating to a “buy” rating in a research report on Wednesday, May 2nd. Buckingham Research initiated coverage on shares of Houlihan Lokey in a research report on Thursday, April 5th. They issued a “buy” rating and a $54.00 price target on the stock. One analyst has rated the stock with a hold rating and seven have issued a buy rating to the stock. Houlihan Lokey has an average rating of “Buy” and a consensus target price of $50.50.
Houlihan Lokey (NYSE:HLI) last released its quarterly earnings results on Wednesday, May 9th. The financial services provider reported $0.65 EPS for the quarter, beating the Zacks’ consensus estimate of $0.58 by $0.07. The firm had revenue of $244.75 million for the quarter, compared to analyst estimates of $236.68 million. Houlihan Lokey had a net margin of 17.88% and a return on equity of 19.69%. The company’s revenue for the quarter was down 4.8% compared to the same quarter last year. During the same period in the previous year, the business earned $0.59 earnings per share. research analysts predict that Houlihan Lokey will post 2.71 earnings per share for the current fiscal year.
In other news, major shareholder Orix Hlhz Holding Llc sold 25,307 shares of the company’s stock in a transaction that occurred on Wednesday, May 16th. The shares were sold at an average price of $1,243,518.00, for a total transaction of $31,469,710,026.00. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, General Counsel Christopher M. Crain sold 655 shares of the company’s stock in a transaction that occurred 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 $32,167.05. The disclosure for this sale can be found here. Insiders have sold 2,940,840 shares of company stock worth $989,723,085,872 over the last quarter. 69.70% of the stock is owned by company insiders.
Several hedge funds have recently made changes to their positions in HLI. Schwab Charles Investment Management Inc. lifted its position in shares of Houlihan Lokey by 8.8% during the fourth quarter. Schwab Charles Investment Management Inc. now owns 131,146 shares of the financial services provider’s stock worth $5,958,000 after purchasing an additional 10,576 shares in the last quarter. Teacher Retirement System of Texas acquired a new position in shares of Houlihan Lokey during the fourth quarter worth approximately $409,000. California Public Employees Retirement System lifted its position in shares of Houlihan Lokey by 12.1% during the fourth quarter. California Public Employees Retirement System now owns 10,205 shares of the financial services provider’s stock worth $464,000 after purchasing an additional 1,100 shares in the last quarter. Swiss National Bank lifted its position in shares of Houlihan Lokey by 26.8% during the fourth quarter. Swiss National Bank now owns 44,936 shares of the financial services provider’s stock worth $2,041,000 after purchasing an additional 9,500 shares in the last quarter. Finally, First Trust Advisors LP acquired a new position in shares of Houlihan Lokey during the fourth quarter worth approximately $6,509,000. Institutional investors own 45.61% of the company’s stock.
Houlihan Lokey Company Profile
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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