Houlihan Lokey (NYSE:HLI) Sets New 52-Week High at $158.06

Houlihan Lokey, Inc. (NYSE:HLI) hit a new 52-week high during trading on Tuesday . The stock traded as high as $158.06 and last traded at $157.35, with a volume of 6387 shares. The stock had previously closed at $156.80.

Wall Street Analysts Forecast Growth

Several brokerages recently commented on HLI. Wells Fargo & Company started coverage on shares of Houlihan Lokey in a research note on Thursday, September 12th. They issued an “underweight” rating and a $149.00 price objective for the company. JPMorgan Chase & Co. cut their price target on shares of Houlihan Lokey from $132.00 to $129.00 and set a “neutral” rating on the stock in a research report on Wednesday, July 31st. Morgan Stanley reduced their price objective on shares of Houlihan Lokey from $148.00 to $146.00 and set an “equal weight” rating for the company in a research report on Wednesday. UBS Group boosted their target price on Houlihan Lokey from $157.00 to $170.00 and gave the company a “buy” rating in a research report on Wednesday, July 31st. Finally, Keefe, Bruyette & Woods restated a “market perform” rating and set a $154.00 price target (up previously from $139.00) on shares of Houlihan Lokey in a research note on Wednesday, July 31st. One research analyst has rated the stock with a sell rating, five have issued a hold rating and one has issued a buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $149.60.

Houlihan Lokey Stock Performance

The company’s 50 day simple moving average is $149.54 and its 200 day simple moving average is $136.90. The stock has a market cap of $10.61 billion, a PE ratio of 37.63 and a beta of 0.67.

Houlihan Lokey (NYSE:HLI) last issued its quarterly earnings results on Tuesday, July 30th. The financial services provider reported $1.22 earnings per share (EPS) for the quarter, hitting the consensus estimate of $1.22. Houlihan Lokey had a net margin of 15.30% and a return on equity of 18.80%. The company had revenue of $514.00 million during the quarter, compared to analyst estimates of $508.70 million. During the same quarter last year, the business posted $0.89 EPS. Houlihan Lokey’s quarterly revenue was up 23.6% compared to the same quarter last year. Equities research analysts expect that Houlihan Lokey, Inc. will post 5.64 earnings per share for the current year.

Houlihan Lokey Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Sunday, September 15th. Shareholders of record on Tuesday, September 3rd were given a dividend of $0.57 per share. The ex-dividend date of this dividend was Tuesday, September 3rd. This represents a $2.28 annualized dividend and a dividend yield of 1.47%. Houlihan Lokey’s dividend payout ratio is currently 55.47%.

Insider Activity

In related news, General Counsel Christopher M. Crain sold 1,000 shares of Houlihan Lokey stock in a transaction on Tuesday, September 3rd. The stock was sold at an average price of $155.29, for a total transaction of $155,290.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In other Houlihan Lokey news, General Counsel Christopher M. Crain sold 1,000 shares of Houlihan Lokey stock in a transaction dated Tuesday, September 3rd. The stock was sold at an average price of $155.29, for a total transaction of $155,290.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Gillian Beth Zucker sold 200 shares of the stock in a transaction that occurred on Tuesday, August 20th. The shares were sold at an average price of $152.49, for a total transaction of $30,498.00. Following the transaction, the director now owns 7,001 shares in the company, valued at $1,067,582.49. The disclosure for this sale can be found here. Insiders have sold a total of 19,619 shares of company stock worth $2,818,759 over the last ninety days. Company insiders own 25.97% of the company’s stock.

Institutional Investors Weigh In On Houlihan Lokey

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in HLI. Norges Bank bought a new position in Houlihan Lokey during the 4th quarter valued at approximately $70,225,000. Millennium Management LLC increased its holdings in shares of Houlihan Lokey by 24,074.0% in the second quarter. Millennium Management LLC now owns 501,610 shares of the financial services provider’s stock worth $67,647,000 after purchasing an additional 499,535 shares during the last quarter. Capital International Investors lifted its holdings in shares of Houlihan Lokey by 56.7% in the 4th quarter. Capital International Investors now owns 792,073 shares of the financial services provider’s stock valued at $94,977,000 after acquiring an additional 286,746 shares during the last quarter. Sei Investments Co. boosted its stake in shares of Houlihan Lokey by 39.1% during the 4th quarter. Sei Investments Co. now owns 693,248 shares of the financial services provider’s stock worth $83,128,000 after purchasing an additional 194,867 shares during the period. Finally, Jennison Associates LLC grew its holdings in shares of Houlihan Lokey by 87.2% in the first quarter. Jennison Associates LLC now owns 347,165 shares of the financial services provider’s stock worth $44,503,000 after purchasing an additional 161,753 shares during the last quarter. 78.07% of the stock is currently owned by institutional investors.

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.