Morgan Stanley Cuts Houlihan Lokey (NYSE:HLI) Price Target to $146.00

Houlihan Lokey (NYSE:HLI) had its target price trimmed by Morgan Stanley from $148.00 to $146.00 in a research report report published on Wednesday, Benzinga reports. The brokerage currently has an equal weight rating on the financial services provider’s stock.

A number of other analysts have also weighed in on HLI. JPMorgan Chase & Co. cut their target price on shares of Houlihan Lokey from $132.00 to $129.00 and set a neutral rating on the stock in a research note on Wednesday, July 31st. Wells Fargo & Company began coverage on shares of Houlihan Lokey in a research report on Thursday, September 12th. They issued an underweight rating and a $149.00 price objective on the stock. UBS Group boosted their target price on shares of Houlihan Lokey from $157.00 to $170.00 and gave the stock a buy rating in a research note on Wednesday, July 31st. Finally, Keefe, Bruyette & Woods reaffirmed a market perform rating and set a $154.00 price target (up from $139.00) on shares of Houlihan Lokey in a report on Wednesday, July 31st. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and one has issued a buy rating to the company. Based on data from MarketBeat, the company has an average rating of Hold and an average target price of $149.60.

Houlihan Lokey Stock Up 1.2 %

NYSE:HLI opened at $160.20 on Wednesday. Houlihan Lokey has a 52 week low of $94.67 and a 52 week high of $160.89. The company has a fifty day simple moving average of $150.28 and a two-hundred day simple moving average of $137.17. The company has a market cap of $10.99 billion, a price-to-earnings ratio of 38.98 and a beta of 0.67.

Houlihan Lokey (NYSE:HLI) last released its earnings results on Tuesday, July 30th. The financial services provider reported $1.22 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $1.22. Houlihan Lokey had a return on equity of 18.80% and a net margin of 15.30%. The firm had revenue of $514.00 million during the quarter, compared to analyst estimates of $508.70 million. During the same period last year, the business posted $0.89 earnings per share. Houlihan Lokey’s revenue was up 23.6% compared to the same quarter last year. On average, analysts expect that Houlihan Lokey will post 5.64 EPS for the current year.

Houlihan Lokey Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Sunday, September 15th. Investors of record on Tuesday, September 3rd were paid a dividend of $0.57 per share. The ex-dividend date of this dividend was Tuesday, September 3rd. This represents a $2.28 annualized dividend and a yield of 1.42%. Houlihan Lokey’s dividend payout ratio is currently 55.47%.

Insider Buying and Selling at Houlihan Lokey

In related news, General Counsel Christopher M. Crain sold 1,000 shares of the company’s stock in a transaction dated Tuesday, September 3rd. The stock was sold at an average price of $155.29, for a total value of $155,290.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In related news, General Counsel Christopher M. Crain sold 1,000 shares of the company’s stock in a transaction on Tuesday, September 3rd. The shares were sold at an average price of $155.29, for a total value of $155,290.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Chairman Irwin Gold sold 9,902 shares of the stock in a transaction on Friday, June 28th. The stock was 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. Insiders sold 19,619 shares of company stock worth $2,818,759 over the last 90 days. Corporate insiders own 25.97% of the company’s stock.

Institutional Trading of Houlihan Lokey

Several institutional investors and hedge funds have recently added to or reduced their stakes in HLI. Opal Wealth Advisors LLC acquired a new position in shares of Houlihan Lokey in the second quarter valued at approximately $26,000. Crewe Advisors LLC increased its stake in Houlihan Lokey by 264.5% in the 2nd quarter. Crewe Advisors LLC now owns 226 shares of the financial services provider’s stock valued at $30,000 after buying an additional 164 shares during the period. Ashton Thomas Private Wealth LLC purchased a new position in Houlihan Lokey during the 2nd quarter worth $38,000. Accent Capital Management LLC purchased a new stake in shares of Houlihan Lokey in the fourth quarter valued at about $42,000. Finally, Benjamin F. Edwards & Company Inc. raised its holdings in Houlihan Lokey by 194.9% during the first quarter. Benjamin F. Edwards & Company Inc. now owns 401 shares of the financial services provider’s stock worth $52,000 after purchasing an additional 265 shares in the last quarter. 78.07% of the stock is owned by hedge funds and other institutional investors.

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.