Analysts at Buckingham Research began coverage on shares of Houlihan Lokey (NYSE:HLI) in a research note issued to investors on Thursday, Marketbeat Ratings reports. The firm set a “buy” rating and a $54.00 price target on the financial services provider’s stock. Buckingham Research’s target price suggests a potential upside of 23.94% from the company’s previous close.
Other analysts have also issued research reports about the company. Bank of America lifted their price objective on Houlihan Lokey from $50.00 to $52.00 and gave the stock a “neutral” rating in a report on Tuesday, January 30th. Zacks Investment Research raised Houlihan Lokey from a “hold” rating to a “buy” rating and set a $56.00 price objective on the stock in a report on Friday, January 12th. Finally, Keefe, Bruyette & Woods reissued a “buy” rating and set a $49.00 price objective on shares of Houlihan Lokey in a report on Friday, December 22nd. Two research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. The stock has a consensus rating of “Buy” and a consensus target price of $48.43.
Shares of NYSE HLI opened at $43.57 on Thursday. The company has a current ratio of 0.77, a quick ratio of 0.77 and a debt-to-equity ratio of 0.01. The company has a market capitalization of $2,910.53, a price-to-earnings ratio of 23.05, a price-to-earnings-growth ratio of 0.89 and a beta of 0.57. Houlihan Lokey has a 12 month low of $32.08 and a 12 month high of $52.81.
In related news, CEO Scott L. Beiser sold 14,434 shares of the business’s stock in a transaction on Thursday, March 15th. The stock was sold at an average price of $46.75, for a total value of $674,789.50. Following the sale, the chief executive officer now owns 14,434 shares of the company’s stock, valued at approximately $674,789.50. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, General Counsel Christopher M. Crain sold 4,599 shares of the business’s stock in a transaction on Thursday, March 15th. The shares were sold at an average price of $46.75, for a total value of $215,003.25. Following the completion of the sale, the general counsel now directly owns 4,599 shares in the company, valued at approximately $215,003.25. The disclosure for this sale can be found here. In the last ninety days, insiders sold 76,042 shares of company stock worth $3,554,964. 69.70% of the stock is owned by insiders.
A number of hedge funds have recently made changes to their positions in HLI. Envestnet Asset Management Inc. boosted its stake in Houlihan Lokey by 1,374.2% in the 4th quarter. Envestnet Asset Management Inc. now owns 2,624 shares of the financial services provider’s stock valued at $119,000 after buying an additional 2,446 shares in the last quarter. AMP Capital Investors Ltd acquired a new stake in Houlihan Lokey in the 4th quarter valued at $245,000. Robeco Institutional Asset Management B.V. acquired a new stake in Houlihan Lokey in the 4th quarter valued at $261,000. Quadrature Capital Ltd acquired a new stake in Houlihan Lokey in the 4th quarter valued at $297,000. Finally, Koch Industries Inc. acquired a new stake in Houlihan Lokey in the 4th quarter valued at $306,000. 40.66% of the stock is currently owned by institutional investors and hedge funds.
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Houlihan Lokey Company Profile
Houlihan Lokey, Inc, an investment banking company, provides mergers and acquisitions (M&A), financings, financial restructurings, and financial advisory services in the United States, Canada, Europe, Asia, Australia, the Middle East, Latin America, and Africa. Its Corporate Finance segment offers general financial advisory services on M&A and capital markets offerings; advises public and private institutions on buy-side and sell-side transactions, leveraged loans, private mezzanine debt, high-yield debt, initial public offerings, follow-ons, convertibles, equity private placements, private equity, and liability management transactions; and advises financial sponsors on various transactions.
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