Houlihan Lokey (NYSE:HLI) Sets New 1-Year High - What's Next?
Houlihan Lokey (NYSE:HLI) reached a new 52-week high of $208.76, closing at $206.97. Analysts have raised price targets, with Wells Fargo setting it at $209 and Morgan Stanley at $213. The company reported $2.14 EPS, exceeding estimates, and a revenue increase of 17.8% year-over-year. A quarterly dividend of $0.60 was recently paid, yielding 1.2%. Insider selling activity was noted, with 22.83% of shares held by insiders. Institutional investors own 78.07% of the stock, indicating strong institutional interest.
Houlihan Lokey, Inc. (NYSE:HLI - Get Free Report)'s share price reached a new 52-week high during trading on Thursday . The company traded as high as $208.76 and last traded at $206.97, with a volume of 32010 shares traded. The stock had previously closed at $204.41.
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Wall Street Analyst Weigh In
A number of research firms have commented on HLI. Wells Fargo & Company lifted their price objective on shares of Houlihan Lokey from $185.00 to $209.00 and gave the stock an "overweight" rating in a report on Friday, July 11th. Keefe, Bruyette & Woods raised shares of Houlihan Lokey from a "hold" rating to a "moderate buy" rating and lifted their price objective for the stock from $185.00 to $232.00 in a report on Monday, July 14th. Morgan Stanley lifted their price objective on shares of Houlihan Lokey from $192.00 to $213.00 and gave the stock an "overweight" rating in a report on Monday, September 8th. Finally, Wall Street Zen cut Houlihan Lokey from a "buy" rating to a "hold" rating in a research note on Saturday, August 2nd. Three investment analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company's stock. Based on data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $210.60.
View Our Latest Stock Analysis on Houlihan Lokey
Houlihan Lokey Stock Up 1.7%
The company has a market capitalization of $14.61 billion, a P/E ratio of 34.98 and a beta of 0.86. The business has a 50 day simple moving average of $195.49 and a 200-day simple moving average of $176.99.
Houlihan Lokey (NYSE:HLI - Get Free Report) last issued its quarterly earnings data on Tuesday, July 29th. The financial services provider reported $2.14 earnings per share for the quarter, beating analysts' consensus estimates of $1.69 by $0.45. Houlihan Lokey had a net margin of 16.46% and a return on equity of 23.75%. The business had revenue of $605.35 million for the quarter, compared to analysts' expectations of $573.07 million. During the same period in the previous year, the business earned $1.22 earnings per share. The company's revenue was up 17.8% on a year-over-year basis. Equities analysts forecast that Houlihan Lokey, Inc. will post 5.98 EPS for the current fiscal year.
Houlihan Lokey Dividend Announcement
The business also recently disclosed a quarterly dividend, which was paid on Monday, September 15th. Investors of record on Tuesday, September 2nd were paid a dividend of $0.60 per share. This represents a $2.40 dividend on an annualized basis and a dividend yield of 1.2%. The ex-dividend date was Tuesday, September 2nd. Houlihan Lokey's payout ratio is currently 40.40%.
Insider Activity at Houlihan Lokey
In related news, General Counsel Christopher M. Crain sold 500 shares of Houlihan Lokey stock in a transaction dated Tuesday, September 2nd. The shares were sold at an average price of $196.22, for a total transaction of $98,110.00. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Chairman Irwin Gold sold 5,000 shares of Houlihan Lokey stock in a transaction dated Monday, June 30th. The shares were sold at an average price of $182.81, for a total transaction of $914,050.00. The disclosure for this sale can be found here. Insiders have sold a total of 45,500 shares of company stock worth $9,010,160 over the last ninety days. 22.83% of the stock is currently owned by corporate insiders.
Hedge Funds Weigh In On Houlihan Lokey
A number of institutional investors have recently bought and sold shares of HLI. Norges Bank purchased a new position in Houlihan Lokey in the 2nd quarter worth about $126,723,000. GAMMA Investing LLC increased its stake in Houlihan Lokey by 39,574.9% in the 1st quarter. GAMMA Investing LLC now owns 686,375 shares of the financial services provider's stock worth $1,108,500,000 after purchasing an additional 684,645 shares in the last quarter. Congress Asset Management Co. purchased a new position in Houlihan Lokey in the 1st quarter worth about $81,420,000. Champlain Investment Partners LLC increased its stake in Houlihan Lokey by 194.9% in the 2nd quarter. Champlain Investment Partners LLC now owns 546,340 shares of the financial services provider's stock worth $98,314,000 after purchasing an additional 361,085 shares in the last quarter. Finally, Westfield Capital Management Co. LP purchased a new position in Houlihan Lokey in the 1st quarter worth about $46,236,000. Hedge funds and other institutional investors own 78.07% of the company's stock.
About Houlihan Lokey
(Get Free Report)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.
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