Houlihan Lokey, Inc. (HLI) Downgraded to “Hold” at Zacks Investment Research
Zacks Investment Research downgraded shares of Houlihan Lokey, Inc. (NYSE:HLI) from a strong-buy rating to a hold rating in a report issued on Tuesday morning.
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 subject of several other research reports. ValuEngine raised shares of Houlihan Lokey from a hold rating to a buy rating in a research note on Friday, September 15th. UBS AG lifted their price objective on shares of Houlihan Lokey from $44.00 to $47.00 and gave the company a buy rating in a report on Wednesday, October 25th. J P Morgan Chase & Co started coverage on shares of Houlihan Lokey in a report on Tuesday, September 12th. They set an overweight rating and a $42.00 price objective on the stock. Keefe, Bruyette & Woods reissued a buy rating and set a $40.00 price objective on shares of Houlihan Lokey in a report on Sunday, August 27th. Finally, Bank of America Corporation lifted their price objective on shares of Houlihan Lokey from $40.00 to $44.00 and gave the company a neutral rating in a report on Wednesday, October 25th. Two analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. The company currently has a consensus rating of Buy and an average target price of $42.33.
Houlihan Lokey (HLI) traded up $0.29 during trading on Tuesday, hitting $42.38. 245,800 shares of the stock traded hands, compared to its average volume of 252,624. 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 1 year low of $24.33 and a 1 year high of $44.15. The company has a market capitalization of $2,806.10, a P/E ratio of 18.96, a PEG ratio of 2.80 and a beta of 0.38.
Houlihan Lokey (NYSE:HLI) last posted its quarterly earnings results on Tuesday, October 24th. The financial services provider reported $0.56 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.41 by $0.15. Houlihan Lokey had a net margin of 14.58% and a return on equity of 19.71%. The firm had revenue of $242.20 million during the quarter, compared to the consensus estimate of $207.72 million. During the same quarter in the previous year, the firm posted $0.37 earnings per share. The company’s revenue was up 29.9% on a year-over-year basis. research analysts expect that Houlihan Lokey will post 2.1 earnings per share for the current year.
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The firm also recently disclosed a quarterly dividend, which will be paid on Friday, December 15th. Investors of record on Monday, December 4th will be issued a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a yield of 1.89%. The ex-dividend date is Friday, December 1st. Houlihan Lokey’s payout ratio is 37.91%.
In other Houlihan Lokey news, major shareholder Orix Hlhz Holding Llc sold 686,760 shares of Houlihan Lokey stock in a transaction on Thursday, September 14th. The shares were sold at an average price of $36.26, for a total value of $24,901,917.60. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, CEO Scott L. Beiser sold 63,688 shares of Houlihan Lokey stock in a transaction on Monday, October 30th. The stock was sold at an average price of $41.63, for a total transaction of $2,651,331.44. Following the completion of the transaction, the chief executive officer now directly owns 78,108 shares in the company, valued at $3,251,636.04. The disclosure for this sale can be found here. Over the last three months, insiders have sold 2,807,387 shares of company stock worth $113,183,620. 69.70% of the stock is currently owned by corporate insiders.
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in HLI. Vanguard Group Inc. grew its holdings in Houlihan Lokey by 75.5% in the first quarter. Vanguard Group Inc. now owns 1,603,729 shares of the financial services provider’s stock worth $55,249,000 after purchasing an additional 690,029 shares during the last quarter. Neuberger Berman Group LLC grew its holdings in Houlihan Lokey by 122.1% in the second quarter. Neuberger Berman Group LLC now owns 1,193,275 shares of the financial services provider’s stock worth $41,645,000 after purchasing an additional 655,940 shares during the last quarter. Teachers Advisors LLC grew its holdings in Houlihan Lokey by 419.5% in the second quarter. Teachers Advisors LLC now owns 297,165 shares of the financial services provider’s stock worth $10,371,000 after purchasing an additional 239,964 shares during the last quarter. Dimensional Fund Advisors LP grew its holdings in Houlihan Lokey by 108.3% in the third quarter. Dimensional Fund Advisors LP now owns 329,233 shares of the financial services provider’s stock worth $12,883,000 after purchasing an additional 171,153 shares during the last quarter. Finally, Geode Capital Management LLC grew its holdings in Houlihan Lokey by 157.3% in the first quarter. Geode Capital Management LLC now owns 250,638 shares of the financial services provider’s stock worth $8,634,000 after purchasing an additional 153,218 shares during the last quarter. 32.76% of the stock is currently owned by institutional investors and hedge funds.
Houlihan Lokey Company Profile
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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