Houlihan Lokey (NYSE:HLI) Given New $209.00 Price Target at Wells Fargo & Company

Houlihan Lokey (NYSE:HLI - Get Free Report) had its price target upped by stock analysts at Wells Fargo & Company from $185.00 to $209.00 in a research report issued on Friday,Benzinga reports. The brokerage currently has an "overweight" rating on the financial services provider's stock. Wells Fargo & Company's target price suggests a potential upside of 10.34% from the stock's previous close.

Several other analysts also recently issued reports on HLI. Wall Street Zen downgraded Houlihan Lokey from a "buy" rating to a "hold" rating in a report on Friday, June 27th. Keefe, Bruyette & Woods increased their target price on Houlihan Lokey from $183.00 to $185.00 and gave the stock a "market perform" rating in a research report on Monday, May 12th. Finally, Morgan Stanley reissued an "overweight" rating and set a $192.00 price target (up previously from $159.00) on shares of Houlihan Lokey in a report on Monday, June 23rd. Three investment analysts have rated the stock with a hold rating and four have given a buy rating to the company's stock. According to MarketBeat, Houlihan Lokey currently has a consensus rating of "Moderate Buy" and a consensus price target of $197.00.

Houlihan Lokey Stock Down 0.7%

Shares of NYSE:HLI traded down $1.34 on Friday, reaching $189.41. 353,005 shares of the company's stock were exchanged, compared to its average volume of 359,723. The firm has a market capitalization of $13.22 billion, a price-to-earnings ratio of 32.54 and a beta of 0.83. Houlihan Lokey has a fifty-two week low of $137.99 and a fifty-two week high of $192.44. The business's 50-day moving average is $177.06 and its two-hundred day moving average is $170.84.

Houlihan Lokey (NYSE:HLI - Get Free Report) last announced its quarterly earnings data on Wednesday, May 7th. The financial services provider reported $1.96 earnings per share for the quarter, beating analysts' consensus estimates 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 the consensus estimate of $628.25 million. During the same quarter in the prior year, the firm earned $1.27 EPS. The company's revenue for the quarter was up 28.0% compared to the same quarter last year. Analysts predict that Houlihan Lokey will post 5.98 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, Chairman Scott L. Beiser sold 8,008 shares of the stock in a transaction dated Monday, May 19th. The shares were sold at an average price of $178.71, for a total value of $1,431,109.68. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Chairman Irwin Gold sold 5,000 shares of the firm's stock in a transaction dated Monday, June 30th. The shares were sold at an average price of $182.81, for a total transaction of $914,050.00. The disclosure for this sale can be found here. In the last quarter, insiders sold 13,508 shares of company stock worth $2,431,670. 23.68% of the stock is owned by company insiders.

Institutional Trading of Houlihan Lokey

A number of institutional investors have recently made changes to their positions in the stock. GAMMA Investing LLC raised its holdings in Houlihan Lokey by 39,574.9% during the first quarter. GAMMA Investing LLC now owns 686,375 shares of the financial services provider's stock worth $1,108,500,000 after purchasing an additional 684,645 shares in the last quarter. Norges Bank acquired a new position in shares of Houlihan Lokey during the 4th quarter valued at $114,047,000. Invesco Ltd. raised its stake in shares of Houlihan Lokey by 122.7% in the 4th quarter. Invesco Ltd. now owns 1,041,201 shares of the financial services provider's stock worth $180,815,000 after buying an additional 573,745 shares in the last quarter. Congress Asset Management Co. acquired a new stake in shares of Houlihan Lokey in the first quarter valued at $81,420,000. Finally, Prudential Financial Inc. boosted its stake in Houlihan Lokey by 731.6% during the fourth quarter. Prudential Financial Inc. now owns 347,469 shares of the financial services provider's stock valued at $60,341,000 after buying an additional 305,685 shares in the last quarter. 78.07% of the stock is owned by institutional investors and hedge funds.

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.