Zacks Investment Research upgraded shares of Houlihan Lokey (NYSE:HLI) from a hold rating to a strong-buy rating in a research note released on Wednesday morning, Zacks.com reports. The firm currently has $50.00 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. “
A number of other research analysts also recently weighed in on the stock. Goldman Sachs Group restated a sell rating and set a $45.00 price objective on shares of Intel in a research report on Wednesday, April 3rd. JMP Securities lowered their price objective on shares of BioCryst Pharmaceuticals from $18.00 to $10.00 and set an outperform rating on the stock in a research report on Thursday, May 23rd. Finally, ValuEngine downgraded shares of Intersect ENT from a buy rating to a hold rating in a research report on Monday, July 8th. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating, five have issued a buy rating and one has given a strong buy rating to the company’s stock. The stock presently has an average rating of Buy and a consensus price target of $50.08.
Houlihan Lokey (NYSE:HLI) last posted its quarterly earnings results on Wednesday, May 8th. The financial services provider reported $0.86 EPS for the quarter, beating the Zacks’ consensus estimate of $0.69 by $0.17. The firm had revenue of $291.40 million for the quarter, compared to analysts’ expectations of $266.26 million. Houlihan Lokey had a net margin of 14.67% and a return on equity of 22.31%. The business’s revenue for the quarter was up 19.0% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.65 earnings per share. On average, sell-side analysts forecast that Houlihan Lokey will post 2.99 EPS for the current year.
The firm also recently declared a quarterly dividend, which was paid on Friday, June 14th. Shareholders of record on Monday, June 3rd were given a $0.31 dividend. The ex-dividend date of this dividend was Friday, May 31st. This is an increase from Houlihan Lokey’s previous quarterly dividend of $0.27. This represents a $1.24 annualized dividend and a yield of 2.85%. Houlihan Lokey’s dividend payout ratio (DPR) is presently 43.21%.
In other Houlihan Lokey news, major shareholder Orix Hlhz Holding Llc sold 3,000,000 shares of the stock in a transaction that occurred on Tuesday, May 28th. The shares were sold at an average price of $45.52, for a total value of $136,560,000.00. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. 80.50% of the stock is currently owned by company insiders.
Hedge funds have recently made changes to their positions in the company. Advisory Services Network LLC raised its position in shares of Houlihan Lokey by 253.2% during the 4th quarter. Advisory Services Network LLC now owns 1,939 shares of the financial services provider’s stock valued at $71,000 after purchasing an additional 1,390 shares during the period. Private Capital Group LLC grew its stake in Houlihan Lokey by 259.0% during the first quarter. Private Capital Group LLC now owns 2,014 shares of the financial services provider’s stock valued at $92,000 after acquiring an additional 1,453 shares in the last quarter. SG Americas Securities LLC purchased a new position in Houlihan Lokey during the first quarter valued at $126,000. Advisor Group Inc. grew its stake in Houlihan Lokey by 41.8% during the fourth quarter. Advisor Group Inc. now owns 4,094 shares of the financial services provider’s stock valued at $151,000 after acquiring an additional 1,207 shares in the last quarter. Finally, Hsbc Holdings PLC grew its stake in Houlihan Lokey by 13.6% during the fourth quarter. Hsbc Holdings PLC now owns 6,055 shares of the financial services provider’s stock valued at $222,000 after acquiring an additional 725 shares in the last quarter. Hedge funds and other institutional investors own 58.04% of the company’s stock.
Houlihan Lokey Company Profile
Houlihan Lokey, Inc, an investment banking company, provides merger and acquisition (M&A), financing, financial restructuring, and financial advisory services worldwide. It operates in three segments: Corporate Finance, Financial Restructuring, and Financial Advisory Services. The Corporate Finance segment offers general financial advisory services; and 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, as well as financial sponsors on various transactions.
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