Houlihan Lokey (NYSE:HLI) Reaches New 1-Year High - Here's What Happened

Houlihan Lokey, Inc. (NYSE:HLI - Get Free Report) reached a new 52-week high during trading on Tuesday . The company traded as high as $163.18 and last traded at $163.08, with a volume of 11072 shares. The stock had previously closed at $160.81.

Analysts Set New Price Targets

Several research analysts have weighed in on HLI shares. Keefe, Bruyette & Woods restated a "market perform" rating and issued a $154.00 price target (up from $139.00) on shares of Houlihan Lokey in a research note on Wednesday, July 31st. Morgan Stanley raised their target price on shares of Houlihan Lokey from $146.00 to $163.00 and gave the company an "equal weight" rating in a research note on Monday, September 23rd. Wells Fargo & Company assumed coverage on shares of Houlihan Lokey in a research note on Thursday, September 12th. They issued an "underweight" rating and a $149.00 price target on the stock. UBS Group raised their price objective on Houlihan Lokey from $170.00 to $190.00 and gave the company a "buy" rating in a research report on Tuesday. Finally, JPMorgan Chase & Co. reduced their target price on Houlihan Lokey from $132.00 to $129.00 and set a "neutral" rating on the stock in a report on Wednesday, July 31st. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and one has given a buy rating to the company's stock. According to data from MarketBeat.com, the company presently has an average rating of "Hold" and a consensus target price of $157.00.

Houlihan Lokey Price Performance

The company's 50-day simple moving average is $153.64 and its 200 day simple moving average is $140.34. The firm has a market cap of $11.24 billion, a P/E ratio of 39.88 and a beta of 0.66.

Houlihan Lokey (NYSE:HLI - Get Free Report) last announced its quarterly earnings results on Tuesday, July 30th. The financial services provider reported $1.22 EPS for the quarter, meeting analysts' consensus estimates of $1.22. Houlihan Lokey had a net margin of 15.30% and a return on equity of 18.80%. The firm had revenue of $514.00 million during the quarter, compared to the consensus estimate of $508.70 million. During the same quarter last year, the firm earned $0.89 EPS. The firm's revenue for the quarter was up 23.6% compared to the same quarter last year. Analysts anticipate that Houlihan Lokey, Inc. will post 5.54 EPS for the current fiscal year.

Houlihan Lokey Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Sunday, September 15th. Stockholders of record on Tuesday, September 3rd were given a dividend of $0.57 per share. This represents a $2.28 annualized dividend and a dividend yield of 1.39%. The ex-dividend date was Tuesday, September 3rd. Houlihan Lokey's dividend payout ratio is currently 55.47%.

Insider Activity at Houlihan Lokey

In related news, Chairman Scott L. Beiser sold 8,317 shares of Houlihan Lokey stock in a transaction dated Friday, August 16th. The shares were sold at an average price of $151.89, for a total transaction of $1,263,269.13. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In other news, Director Gillian Beth Zucker sold 200 shares of the stock in a transaction that occurred on Tuesday, August 20th. The stock was sold at an average price of $152.49, for a total value of $30,498.00. Following the sale, the director now directly owns 7,001 shares in the company, valued at approximately $1,067,582.49. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Chairman Scott L. Beiser sold 8,317 shares of the business's stock in a transaction on Friday, August 16th. The shares were sold at an average price of $151.89, for a total value of $1,263,269.13. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 9,717 shares of company stock worth $1,479,513. Company insiders own 25.97% of the company's stock.

Institutional Trading of Houlihan Lokey

Hedge funds and other institutional investors have recently bought and sold shares of the business. Vanguard Group Inc. increased its stake in Houlihan Lokey by 0.6% in the 1st quarter. Vanguard Group Inc. now owns 5,104,143 shares of the financial services provider's stock worth $654,300,000 after buying an additional 29,843 shares during the period. Earnest Partners LLC raised its position in Houlihan Lokey by 1.9% during the 2nd quarter. Earnest Partners LLC now owns 3,273,818 shares of the financial services provider's stock valued at $441,507,000 after purchasing an additional 62,314 shares in the last quarter. Kayne Anderson Rudnick Investment Management LLC lifted its holdings in shares of Houlihan Lokey by 1.3% in the 2nd quarter. Kayne Anderson Rudnick Investment Management LLC now owns 3,087,898 shares of the financial services provider's stock worth $416,434,000 after buying an additional 38,155 shares during the period. Fiduciary Management Inc. WI grew its position in shares of Houlihan Lokey by 3.4% during the 4th quarter. Fiduciary Management Inc. WI now owns 1,195,597 shares of the financial services provider's stock worth $143,364,000 after buying an additional 39,705 shares in the last quarter. Finally, Sei Investments Co. increased its stake in shares of Houlihan Lokey by 6.2% during the second quarter. Sei Investments Co. now owns 776,335 shares of the financial services provider's stock valued at $104,697,000 after buying an additional 45,205 shares during the period. Hedge funds and other institutional investors own 78.07% of the company's stock.

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.