StockNews.com Downgrades Houlihan Lokey (NYSE:HLI) to Hold

Houlihan Lokey (NYSE:HLI – Get Rating) was downgraded by StockNews.com from a “buy” rating to a “hold” rating in a research note issued on Thursday.

HLI has been the topic of a number of other reports. The Goldman Sachs Group lowered their price objective on shares of Houlihan Lokey from $127.00 to $111.00 and set a “buy” rating on the stock in a report on Tuesday, April 12th. Zacks Investment Research cut shares of Houlihan Lokey from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, March 23rd. Morgan Stanley decreased their target price on shares of Houlihan Lokey from $97.00 to $95.00 and set an “underweight” rating for the company in a research note on Friday, March 25th. Finally, Piper Sandler cut shares of Houlihan Lokey from a “neutral” rating to an “underweight” rating and decreased their target price for the company from $92.00 to $76.00 in a research note on Thursday, April 7th. Two research analysts have rated the stock with a sell rating, four have assigned a hold rating and three have assigned a buy rating to the stock. According to MarketBeat.com, Houlihan Lokey currently has an average rating of “Hold” and a consensus target price of $105.83.

Shares of Houlihan Lokey stock opened at $85.05 on Thursday. The business’s 50 day simple moving average is $88.02 and its 200 day simple moving average is $100.98. Houlihan Lokey has a 52-week low of $71.04 and a 52-week high of $122.62. The firm has a market cap of $5.73 billion, a PE ratio of 13.27 and a beta of 0.65.

In other Houlihan Lokey news, Director Paul Andrew Zuber sold 2,000 shares of Houlihan Lokey stock in a transaction on Friday, February 25th. The shares were sold at an average price of $103.40, for a total transaction of $206,800.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 26.02% of the company’s stock.

Hedge funds have recently added to or reduced their stakes in the business. Alliancebernstein L.P. boosted its position in shares of Houlihan Lokey by 54.1% in the fourth quarter. Alliancebernstein L.P. now owns 2,452,504 shares of the financial services provider’s stock valued at $253,883,000 after acquiring an additional 860,727 shares during the period. Norges Bank bought a new stake in shares of Houlihan Lokey in the fourth quarter valued at about $46,198,000. Federated Hermes Inc. boosted its position in shares of Houlihan Lokey by 139.1% in the first quarter. Federated Hermes Inc. now owns 445,846 shares of the financial services provider’s stock valued at $39,146,000 after acquiring an additional 259,359 shares during the period. Acadian Asset Management LLC boosted its position in shares of Houlihan Lokey by 478.9% in the fourth quarter. Acadian Asset Management LLC now owns 163,345 shares of the financial services provider’s stock valued at $16,898,000 after acquiring an additional 135,129 shares during the period. Finally, Geode Capital Management LLC boosted its position in shares of Houlihan Lokey by 13.8% in the third quarter. Geode Capital Management LLC now owns 979,992 shares of the financial services provider’s stock valued at $90,257,000 after acquiring an additional 118,907 shares during the period. 74.34% of the stock is owned by hedge funds and other institutional investors.

Houlihan Lokey Company Profile (Get Rating)

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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