Houlihan Lokey (NYSE:HLI) Hits New 1-Year High – Here’s Why

Houlihan Lokey, Inc. (NYSE:HLI) shares hit a new 52-week high on Thursday . The stock traded as high as $190.81 and last traded at $190.81, with a volume of 91147 shares trading hands. The stock had previously closed at $186.95.

Wall Street Analyst Weigh In

Several research analysts recently issued reports on the company. Wells Fargo & Company started coverage on Houlihan Lokey in a research report on Thursday, September 12th. They set an “underweight” rating and a $149.00 target price for the company. StockNews.com downgraded Houlihan Lokey from a “buy” rating to a “hold” rating in a research note on Wednesday. Morgan Stanley raised their target price on Houlihan Lokey from $146.00 to $163.00 and gave the stock an “equal weight” rating in a research note on Monday, September 23rd. UBS Group increased their price target on Houlihan Lokey from $170.00 to $190.00 and gave the stock a “buy” rating in a report on Tuesday, October 8th. Finally, JPMorgan Chase & Co. cut their target price on shares of Houlihan Lokey from $132.00 to $129.00 and set a “neutral” rating on the stock in a research note on Wednesday, July 31st. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating and one has issued a buy rating to the company. According to data from MarketBeat.com, Houlihan Lokey currently has a consensus rating of “Hold” and an average price target of $157.00.

Houlihan Lokey Stock Up 0.9 %

The firm has a market capitalization of $13.11 billion, a PE ratio of 38.24 and a beta of 0.65. The firm’s 50-day simple moving average is $168.87 and its 200-day simple moving average is $150.82.

Houlihan Lokey (NYSE:HLI) last announced its quarterly earnings results on Wednesday, October 30th. The financial services provider reported $1.46 EPS for the quarter, topping analysts’ consensus estimates of $1.31 by $0.15. Houlihan Lokey had a return on equity of 19.29% and a net margin of 15.77%. The business had revenue of $574.96 million for the quarter, compared to analysts’ expectations of $537.93 million. During the same period in the previous year, the firm earned $1.11 EPS. The business’s quarterly revenue was up 23.1% on a year-over-year basis. On average, equities research analysts forecast that Houlihan Lokey, Inc. will post 5.79 earnings per share for the current year.

Houlihan Lokey Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Sunday, December 15th. Shareholders of record on Monday, December 2nd will be given a $0.57 dividend. This represents a $2.28 dividend on an annualized basis and a dividend yield of 1.21%. The ex-dividend date is Monday, December 2nd. Houlihan Lokey’s payout ratio is 46.63%.

Insiders Place Their Bets

In related news, Director Gillian Beth Zucker sold 200 shares of the firm’s stock in a transaction that occurred on Friday, September 13th. The shares were sold at an average price of $152.28, for a total value of $30,456.00. Following the transaction, the director now owns 6,801 shares of the company’s stock, valued at approximately $1,035,656.28. This trade represents a 2.86 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, General Counsel Christopher M. Crain sold 1,000 shares of the company’s stock in a transaction that occurred on Tuesday, September 3rd. The shares were sold at an average price of $155.29, for a total transaction of $155,290.00. The disclosure for this sale can be found here. In the last ninety days, insiders sold 1,400 shares of company stock worth $219,362. 23.68% of the stock is currently owned by corporate insiders.

Institutional Trading of Houlihan Lokey

A number of hedge funds and other institutional investors have recently bought and sold shares of HLI. Opal Wealth Advisors LLC purchased a new position in shares of Houlihan Lokey in the second quarter valued at about $26,000. Crewe Advisors LLC boosted its stake in Houlihan Lokey by 264.5% in the 2nd quarter. Crewe Advisors LLC now owns 226 shares of the financial services provider’s stock worth $30,000 after purchasing an additional 164 shares during the period. Ashton Thomas Private Wealth LLC purchased a new position in Houlihan Lokey during the second quarter valued at $38,000. Wolff Wiese Magana LLC bought a new stake in shares of Houlihan Lokey in the 3rd quarter worth about $38,000. Finally, First Horizon Advisors Inc. lifted its position in shares of Houlihan Lokey by 81.5% in the 3rd quarter. First Horizon Advisors Inc. now owns 441 shares of the financial services provider’s stock worth $70,000 after purchasing an additional 198 shares during the period. Hedge funds and other institutional investors own 78.07% of the company’s stock.

About Houlihan Lokey

Houlihan Lokey, Inc, an investment banking company, provides merger and acquisition (M&A), capital market, financial restructuring, and financial and valuation advisory services worldwide. It operates in three segments: Corporate Finance, Financial Restructuring, and Financial and Valuation Advisory.