Morgan Stanley Boosts Houlihan Lokey (NYSE:HLI) Price Target to $148.00

Houlihan Lokey (NYSE:HLI) had its price objective raised by Morgan Stanley from $131.00 to $148.00 in a research report sent to investors on Tuesday, Benzinga reports. They currently have an equal weight rating on the financial services provider’s stock.

A number of other research firms also recently issued reports on HLI. UBS Group boosted their price objective on shares of Houlihan Lokey from $145.00 to $157.00 and gave the company a buy rating in a report on Tuesday, July 9th. Keefe, Bruyette & Woods boosted their price objective on shares of Houlihan Lokey from $132.00 to $139.00 and gave the company a market perform rating in a report on Friday, July 12th. Finally, JMP Securities reaffirmed a market perform rating on shares of Houlihan Lokey in a report on Tuesday, April 9th. Four investment analysts have rated the stock with a hold rating and one has assigned a buy rating to the stock. According to MarketBeat.com, the stock has an average rating of Hold and an average price target of $148.00.

Houlihan Lokey Stock Performance

Shares of HLI stock traded down $0.72 during midday trading on Tuesday, hitting $143.87. 207,883 shares of the company were exchanged, compared to its average volume of 333,263. The firm has a market capitalization of $9.87 billion, a P/E ratio of 34.78 and a beta of 0.67. The firm’s 50 day moving average price is $135.26 and its two-hundred day moving average price is $129.26. Houlihan Lokey has a 52 week low of $94.67 and a 52 week high of $150.03.

Houlihan Lokey (NYSE:HLI) last posted its quarterly earnings data on Wednesday, May 8th. The financial services provider reported $1.27 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.20 by $0.07. The firm had revenue of $520.46 million during the quarter, compared to the consensus estimate of $508.99 million. Houlihan Lokey had a net margin of 14.64% and a return on equity of 18.08%. The business’s revenue for the quarter was up 17.0% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $1.11 EPS. Analysts expect that Houlihan Lokey will post 5.63 EPS for the current year.

Houlihan Lokey Increases Dividend

The business also recently disclosed 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. This represents a $2.28 dividend on an annualized basis and a yield of 1.58%. This is a boost from Houlihan Lokey’s previous quarterly dividend of $0.55. The ex-dividend date was Monday, June 3rd. Houlihan Lokey’s dividend payout ratio is currently 55.47%.

Insider Buying and Selling

In related news, insider David A. Preiser sold 20,000 shares of the company’s stock in a transaction that occurred on Tuesday, June 4th. The shares were sold at an average price of $133.21, for a total transaction of $2,664,200.00. 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 that occurred on Tuesday, June 4th. The shares were sold at an average price of $133.21, for a total value of $2,664,200.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Chairman Irwin Gold sold 9,902 shares of the company’s stock in a transaction that occurred on 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 owned by corporate insiders.

Hedge Funds Weigh In On Houlihan Lokey

Several institutional investors and hedge funds have recently added to or reduced their stakes in HLI. Norges Bank acquired a new position in Houlihan Lokey in the 4th quarter valued at approximately $70,225,000. Capital International Investors increased its position in Houlihan Lokey by 56.7% in the 4th quarter. Capital International Investors now owns 792,073 shares of the financial services provider’s stock valued at $94,977,000 after acquiring an additional 286,746 shares during the period. Sei Investments Co. boosted its stake in shares of Houlihan Lokey by 39.1% in the 4th quarter. Sei Investments Co. now owns 693,248 shares of the financial services provider’s stock valued at $83,128,000 after purchasing an additional 194,867 shares during the last quarter. Principal Financial Group Inc. boosted its stake in shares of Houlihan Lokey by 819.2% in the 4th quarter. Principal Financial Group Inc. now owns 216,186 shares of the financial services provider’s stock valued at $25,923,000 after purchasing an additional 192,668 shares during the last quarter. Finally, Barlow Wealth Partners Inc. bought a new stake in shares of Houlihan Lokey in the 4th quarter valued at $20,237,000. 78.07% of the stock is currently owned by institutional investors and hedge funds.

Houlihan Lokey Company Profile

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.