Houlihan Lokey (NYSE:HLI) Reaches New 52-Week High on Analyst Upgrade

Houlihan Lokey, Inc. (NYSE:HLIGet Free Report)’s stock price hit a new 52-week high during 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 trading hands. The stock had previously closed at $135.02.

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

Check Out Our Latest Report on Houlihan Lokey

Insiders Place Their Bets

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

Institutional Investors Weigh In On Houlihan Lokey

Institutional investors and hedge funds have recently modified their holdings of the company. Vanguard Group Inc. boosted its position in Houlihan Lokey by 0.6% during the first quarter. Vanguard Group Inc. now owns 5,104,143 shares of the financial services provider’s stock worth $654,300,000 after purchasing an additional 29,843 shares in the last quarter. Wellington Management Group LLP grew its stake in Houlihan Lokey by 56.1% in the 3rd quarter. Wellington Management Group LLP now owns 2,723,687 shares of the financial services provider’s stock valued at $291,761,000 after acquiring an additional 978,776 shares during the last quarter. Burgundy Asset Management Ltd. increased its holdings in Houlihan Lokey by 2.8% during the 4th quarter. Burgundy Asset Management Ltd. now owns 1,714,480 shares of the financial services provider’s stock valued at $205,583,000 after acquiring an additional 46,443 shares in the last quarter. Fiduciary Management Inc. WI raised its position in Houlihan Lokey by 3.4% during the fourth quarter. Fiduciary Management Inc. WI now owns 1,195,597 shares of the financial services provider’s stock worth $143,364,000 after acquiring an additional 39,705 shares during the last quarter. Finally, Capital International Investors lifted its holdings in shares of Houlihan Lokey by 56.7% in the fourth quarter. Capital International Investors now owns 792,073 shares of the financial services provider’s stock valued at $94,977,000 after purchasing an additional 286,746 shares in the last quarter. Institutional investors and hedge funds own 78.07% of the company’s stock.

Houlihan Lokey Stock Up 1.9 %

The firm’s fifty day simple moving average is $133.36 and its 200-day simple moving average is $127.58. The company has a market cap of $9.43 billion, a PE ratio of 33.46 and a beta of 0.67.

Houlihan Lokey (NYSE:HLIGet Free Report) last released its quarterly earnings results on Wednesday, May 8th. The financial services provider reported $1.27 earnings per share for the quarter, topping the consensus estimate of $1.20 by $0.07. Houlihan Lokey had a return on equity of 18.08% and a net margin of 14.64%. The company had revenue of $520.46 million during the quarter, compared to the consensus estimate of $508.99 million. During the same quarter last year, the business posted $1.11 earnings per share. Houlihan Lokey’s revenue was up 17.0% compared to the same quarter last year. On average, analysts predict that Houlihan Lokey, Inc. will post 5.63 earnings per share for the current year.

Houlihan Lokey Increases Dividend

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

About Houlihan Lokey

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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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