Shares of Houlihan Lokey, Inc. (NYSE:HLI – Get Free Report) hit a new 52-week low during mid-day trading on Thursday . The company traded as low as $134.06 and last traded at $134.3360, with a volume of 37203 shares traded. The stock had previously closed at $135.96.
Analyst Ratings Changes
A number of equities research analysts have weighed in on HLI shares. The Goldman Sachs Group lowered their price target on Houlihan Lokey from $210.00 to $184.00 and set a “buy” rating on the stock in a research report on Wednesday, April 1st. Morgan Stanley cut their target price on Houlihan Lokey from $205.00 to $193.00 and set an “overweight” rating on the stock in a research note on Thursday, April 9th. Zacks Research cut Houlihan Lokey from a “hold” rating to a “strong sell” rating in a research note on Wednesday, May 13th. Weiss Ratings cut Houlihan Lokey from a “hold (c+)” rating to a “hold (c)” rating in a research report on Tuesday, April 21st. Finally, UBS Group set a $160.00 price objective on Houlihan Lokey in a research report on Thursday, May 7th. Five research analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $191.29.
Read Our Latest Stock Analysis on HLI
Houlihan Lokey Stock Performance
Houlihan Lokey (NYSE:HLI – Get Free Report) last issued its quarterly earnings results on Wednesday, May 6th. The financial services provider reported $1.63 EPS for the quarter, missing analysts’ consensus estimates of $1.79 by ($0.16). Houlihan Lokey had a return on equity of 22.88% and a net margin of 16.26%.The company had revenue of $635.64 million during the quarter, compared to the consensus estimate of $679.22 million. During the same period in the prior year, the firm earned $1.96 earnings per share. The business’s revenue for the quarter was down 4.6% compared to the same quarter last year. As a group, research analysts forecast that Houlihan Lokey, Inc. will post 8.54 earnings per share for the current fiscal year.
Houlihan Lokey Increases Dividend
The business also recently declared a quarterly dividend, which will be paid on Monday, June 15th. Stockholders of record on Monday, June 1st will be given a $0.70 dividend. The ex-dividend date of this dividend is Monday, June 1st. This represents a $2.80 dividend on an annualized basis and a dividend yield of 2.1%. This is an increase from Houlihan Lokey’s previous quarterly dividend of $0.60. Houlihan Lokey’s payout ratio is presently 45.02%.
Insider Buying and Selling
In other news, General Counsel Christopher M. Crain sold 500 shares of the business’s stock in a transaction that occurred on Wednesday, April 1st. The stock was sold at an average price of $143.40, for a total value of $71,700.00. Following the sale, the general counsel directly owned 500 shares of the company’s stock, valued at $71,700. The trade was a 50.00% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Chairman Scott L. Beiser sold 6,265 shares of the business’s stock in a transaction that occurred on Thursday, May 21st. The stock was sold at an average price of $150.26, for a total value of $941,378.90. Following the completion of the sale, the chairman directly owned 6,265 shares in the company, valued at approximately $941,378.90. This represents a 50.00% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders own 22.83% of the company’s stock.
Hedge Funds Weigh In On Houlihan Lokey
Hedge funds have recently added to or reduced their stakes in the company. Flagship Harbor Advisors LLC purchased a new position in Houlihan Lokey in the 4th quarter worth approximately $26,000. Oakworth Capital Inc. purchased a new position in Houlihan Lokey in the 4th quarter worth approximately $29,000. Core Wealth Advisors LLC purchased a new position in Houlihan Lokey in the 4th quarter worth approximately $32,000. Eurizon Capital SGR S.p.A. purchased a new position in Houlihan Lokey in the 4th quarter worth approximately $33,000. Finally, Strategic Wealth Investment Group LLC purchased a new position in Houlihan Lokey in the 2nd quarter worth approximately $39,000. 78.07% of the stock is currently owned by hedge funds and other institutional investors.
About Houlihan Lokey
Houlihan Lokey, Inc is a global investment bank and financial services firm founded in 1972 and headquartered in Los Angeles, California. The company specializes in advisory services across a broad range of transaction types and financial matters. Since its founding, Houlihan Lokey has grown to serve corporations, financial sponsors, and government entities worldwide, providing expertise in complex and high-stakes engagements.
The firm’s core service offerings include mergers and acquisitions advisory, capital markets advisory, financial restructuring and distressed M&A, and valuation and fairness opinions.
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