Houlihan Lokey (NYSE:HLI) Hits New 52-Week High - Here's What Happened

Houlihan Lokey, Inc. (NYSE:HLI - Get Free Report) hit a new 52-week high during mid-day trading on Thursday . The company traded as high as $198.06 and last traded at $195.84, with a volume of 32171 shares traded. The stock had previously closed at $194.50.

Analyst Ratings Changes

Several brokerages have recently commented on HLI. Wall Street Zen raised Houlihan Lokey from a "hold" rating to a "buy" rating in a report on Saturday, July 12th. Keefe, Bruyette & Woods upgraded shares of Houlihan Lokey from a "hold" rating to a "moderate buy" rating and upped their price objective for the company from $185.00 to $232.00 in a research report on Monday, July 14th. Morgan Stanley restated an "overweight" rating and issued a $192.00 price objective (up previously from $159.00) on shares of Houlihan Lokey in a research report on Monday, June 23rd. Finally, Wells Fargo & Company increased their target price on Houlihan Lokey from $185.00 to $209.00 and gave the stock an "overweight" rating in a report on Friday, July 11th. Two investment analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. According to MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $206.40.

Houlihan Lokey Stock Down 0.7%

The firm's fifty day moving average price is $179.71 and its 200 day moving average price is $171.51. The stock has a market cap of $13.69 billion, a PE ratio of 33.69 and a beta of 0.83.

Houlihan Lokey (NYSE:HLI - Get Free Report) last released its quarterly earnings results on Wednesday, May 7th. The financial services provider reported $1.96 EPS for the quarter, beating the consensus estimate of $1.61 by $0.35. Houlihan Lokey had a net margin of 16.73% and a return on equity of 21.61%. The business had revenue of $666.42 million during the quarter, compared to analyst estimates of $628.25 million. During the same period in the prior year, the firm posted $1.27 earnings per share. The company's quarterly revenue was up 28.0% on a year-over-year basis. As a group, analysts anticipate that Houlihan Lokey, Inc. will post 5.98 earnings per share for the current fiscal year.

Houlihan Lokey Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Sunday, June 15th. Stockholders of record on Monday, June 2nd were paid a dividend of $0.60 per share. This represents a $2.40 annualized dividend and a dividend yield of 1.22%. The ex-dividend date was Monday, June 2nd. This is a boost from Houlihan Lokey's previous quarterly dividend of $0.57. Houlihan Lokey's dividend payout ratio is 41.24%.

Insider Activity

In other news, Chairman Scott L. Beiser sold 8,008 shares of Houlihan Lokey stock in a transaction dated Monday, May 19th. The stock was sold at an average price of $178.71, for a total value of $1,431,109.68. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, General Counsel Christopher M. Crain sold 500 shares of the business's stock in a transaction that occurred on Monday, June 2nd. The shares were sold at an average price of $173.02, for a total value of $86,510.00. The disclosure for this sale can be found here. Insiders sold a total of 13,508 shares of company stock worth $2,431,670 over the last 90 days. 23.68% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of HLI. Bogart Wealth LLC increased its stake in shares of Houlihan Lokey by 111.1% during the first quarter. Bogart Wealth LLC now owns 152 shares of the financial services provider's stock worth $25,000 after purchasing an additional 80 shares during the period. Motco bought a new position in shares of Houlihan Lokey in the 1st quarter worth about $29,000. Brooklyn Investment Group purchased a new position in shares of Houlihan Lokey in the 1st quarter worth approximately $33,000. TCTC Holdings LLC increased its holdings in shares of Houlihan Lokey by 103.5% in the first quarter. TCTC Holdings LLC now owns 232 shares of the financial services provider's stock worth $37,000 after purchasing an additional 118 shares during the period. Finally, Caitong International Asset Management Co. Ltd increased its stake in Houlihan Lokey by 3,714.3% in the first quarter. Caitong International Asset Management Co. Ltd now owns 267 shares of the financial services provider's stock valued at $43,000 after acquiring an additional 260 shares during the last quarter. 78.07% of the stock is 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.