Houlihan Lokey (NYSE:HLI) Downgraded by Zacks Research to “Hold”

Zacks Research cut shares of Houlihan Lokey (NYSE:HLI) from a strong-buy rating to a hold rating in a report issued on Monday,Zacks.com reports.

HLI has been the subject of several other research reports. Keefe, Bruyette & Woods upgraded Houlihan Lokey from a “hold” rating to a “moderate buy” rating and upped their price target for the stock from $185.00 to $232.00 in a research note on Monday, July 14th. Morgan Stanley raised their target price on Houlihan Lokey from $192.00 to $213.00 and gave the stock an “overweight” rating in a research report on Monday, September 8th. Wall Street Zen downgraded Houlihan Lokey from a “buy” rating to a “hold” rating in a research report on Saturday, August 2nd. Finally, Wells Fargo & Company lifted their target price on Houlihan Lokey from $185.00 to $209.00 and gave the company an “overweight” rating in a research note on Friday, July 11th. Three equities research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $210.60.

Houlihan Lokey Stock Performance

HLI opened at $205.56 on Monday. The stock’s fifty day moving average is $197.87 and its 200-day moving average is $180.11. The company has a market capitalization of $14.45 billion, a PE ratio of 34.61 and a beta of 0.86. Houlihan Lokey has a one year low of $137.99 and a one year high of $211.78.

Houlihan Lokey (NYSE:HLI) last announced its earnings results on Tuesday, July 29th. The financial services provider reported $2.14 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.69 by $0.45. Houlihan Lokey had a return on equity of 23.75% and a net margin of 16.46%.The company had revenue of $605.35 million for the quarter, compared to analyst estimates of $573.07 million. During the same period in the previous year, the firm earned $1.22 earnings per share. Houlihan Lokey’s revenue for the quarter was up 17.8% compared to the same quarter last year. On average, equities research analysts forecast that Houlihan Lokey will post 5.98 EPS for the current fiscal year.

Houlihan Lokey Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, September 15th. Shareholders of record on Tuesday, September 2nd were given a dividend of $0.60 per share. This represents a $2.40 dividend on an annualized basis and a yield of 1.2%. The ex-dividend date of this dividend was Tuesday, September 2nd. Houlihan Lokey’s payout ratio is 40.40%.

Insider Activity

In other news, General Counsel Christopher M. Crain sold 500 shares of the stock in a transaction on Tuesday, September 2nd. The stock was sold at an average price of $196.22, for a total value of $98,110.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Chairman Paul Eric Siegert sold 40,000 shares of the stock in a transaction on Wednesday, August 27th. The shares were sold at an average price of $199.95, for a total value of $7,998,000.00. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 47,311 shares of company stock valued at $9,477,040. 22.83% of the stock is owned by insiders.

Institutional Investors Weigh In On Houlihan Lokey

A number of institutional investors and hedge funds have recently made changes to their positions in HLI. Bogart Wealth LLC raised its stake in Houlihan Lokey by 111.1% in the first quarter. Bogart Wealth LLC now owns 152 shares of the financial services provider’s stock worth $25,000 after buying an additional 80 shares in the last quarter. Motco purchased a new position in shares of Houlihan Lokey during the 1st quarter worth $29,000. Brooklyn Investment Group purchased a new position in shares of Houlihan Lokey during the 1st quarter valued at $33,000. Trust Co. of Toledo NA OH purchased a new stake in Houlihan Lokey in the 2nd quarter worth $34,000. Finally, TCTC Holdings LLC raised its position in shares of Houlihan Lokey by 103.5% during the 1st quarter. TCTC Holdings LLC now owns 232 shares of the financial services provider’s stock valued at $37,000 after buying an additional 118 shares in the last quarter. 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.