Houlihan Lokey (NYSE:HLI) Hits New 12-Month High Following Analyst Upgrade

Houlihan Lokey, Inc. (NYSE:HLI)’s stock price reached a new 52-week high during mid-day trading on Wednesday after UBS Group raised their price target on the stock from $145.00 to $157.00. UBS Group currently has a buy rating on the stock. Houlihan Lokey traded as high as $137.95 and last traded at $137.47, with a volume of 272000 shares changing hands. The stock had previously closed at $135.02.

Separately, JMP Securities reaffirmed a “market perform” rating on shares of Houlihan Lokey in a research report on Tuesday, April 9th.

Insider Buying and Selling

In other Houlihan Lokey news, Chairman Irwin Gold sold 9,902 shares of the company’s stock in a transaction that occurred on Friday, June 28th. The stock was sold at an average price of $135.25, for a total value of $1,339,245.50. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. In related news, Chairman Irwin Gold sold 9,902 shares of the business’s stock in a transaction that occurred on Friday, June 28th. The stock was sold at an average price of $135.25, for a total transaction of $1,339,245.50. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider David A. Preiser sold 20,000 shares of the firm’s stock in a transaction on Tuesday, June 4th. The shares were sold at an average price of $133.21, for a total value of $2,664,200.00. The disclosure for this sale can be found here. 25.97% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the stock. Wellington Management Group LLP grew its position in shares of Houlihan Lokey by 56.1% in the third quarter. Wellington Management Group LLP now owns 2,723,687 shares of the financial services provider’s stock valued at $291,761,000 after purchasing an additional 978,776 shares during the last quarter. Norges Bank bought a new position in Houlihan Lokey during the 4th quarter worth $70,225,000. Capital International Investors lifted its holdings in shares of Houlihan Lokey by 56.7% during the fourth quarter. Capital International Investors now owns 792,073 shares of the financial services provider’s stock worth $94,977,000 after buying an additional 286,746 shares in the last quarter. Sei Investments Co. lifted its holdings in shares of Houlihan Lokey by 39.1% during the fourth quarter. Sei Investments Co. now owns 693,248 shares of the financial services provider’s stock worth $83,128,000 after buying an additional 194,867 shares in the last quarter. Finally, Principal Financial Group Inc. boosted its position in shares of Houlihan Lokey by 819.2% in the fourth quarter. Principal Financial Group Inc. now owns 216,186 shares of the financial services provider’s stock valued at $25,923,000 after acquiring an additional 192,668 shares during the period. Institutional investors and hedge funds own 78.07% of the company’s stock.

Houlihan Lokey Stock Up 1.8 %

The company’s 50 day moving average is $133.16 and its 200 day moving average is $127.51. The firm has a market capitalization of $9.43 billion, a price-to-earnings ratio of 33.54 and a beta of 0.67.

Houlihan Lokey (NYSE:HLI) last announced its quarterly earnings data on Wednesday, May 8th. The financial services provider reported $1.27 EPS for the quarter, beating the consensus estimate of $1.20 by $0.07. Houlihan Lokey had a net margin of 14.64% and a return on equity of 18.08%. The business had revenue of $520.46 million during the quarter, compared to the consensus estimate of $508.99 million. During the same period in the previous year, the business earned $1.11 earnings per share. The company’s revenue was up 17.0% on a year-over-year basis. On average, analysts expect that Houlihan Lokey, Inc. will post 5.63 EPS for the current year.

Houlihan Lokey Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Saturday, June 15th. Investors of record on Monday, June 3rd were issued a dividend of $0.57 per share. This is an increase from Houlihan Lokey’s previous quarterly dividend of $0.55. The ex-dividend date of this dividend was Monday, June 3rd. This represents a $2.28 annualized dividend and a dividend yield of 1.66%. Houlihan Lokey’s dividend payout ratio (DPR) is 55.47%.

Houlihan Lokey Company Profile

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.