Houlihan Lokey (NYSE:HLI) Price Target Raised to $209.00

Houlihan Lokey (NYSE:HLI - Get Free Report) had its price objective boosted by equities research analysts at Wells Fargo & Company from $185.00 to $209.00 in a note issued to investors on Friday,Benzinga reports. The firm currently has an "overweight" rating on the financial services provider's stock. Wells Fargo & Company's price target points to a potential upside of 7.34% from the company's current price.

HLI has been the topic of a number of other reports. Keefe, Bruyette & Woods raised their price objective on shares of Houlihan Lokey from $183.00 to $185.00 and gave the company a "market perform" rating in a research note on Monday, May 12th. Wall Street Zen downgraded Houlihan Lokey from a "buy" rating to a "hold" rating in a research note on Friday, June 27th. Finally, Morgan Stanley reaffirmed an "overweight" rating and set a $192.00 price objective (up from $159.00) on shares of Houlihan Lokey in a research note on Monday, June 23rd. Two analysts have rated the stock with a hold rating and five have given a buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average target price of $206.40.

Houlihan Lokey Trading Up 2.7%

Shares of Houlihan Lokey stock traded up $5.12 during midday trading on Friday, reaching $194.71. The company had a trading volume of 426,668 shares, compared to its average volume of 360,336. The company has a market capitalization of $13.59 billion, a price-to-earnings ratio of 33.46 and a beta of 0.83. The stock has a fifty day simple moving average of $177.06 and a 200 day simple moving average of $170.77. Houlihan Lokey has a 1-year low of $137.99 and a 1-year high of $195.61.

Houlihan Lokey (NYSE:HLI - Get Free Report) last announced its quarterly earnings data on Wednesday, May 7th. The financial services provider reported $1.96 EPS for the quarter, topping analysts' consensus estimates of $1.61 by $0.35. Houlihan Lokey had a return on equity of 21.61% and a net margin of 16.73%. The firm had revenue of $666.42 million during the quarter, compared to analyst estimates of $628.25 million. During the same period last year, the company earned $1.27 earnings per share. The company's revenue was up 28.0% on a year-over-year basis. Sell-side analysts expect that Houlihan Lokey will post 5.98 earnings per share for the current year.

Insider Transactions at Houlihan Lokey

In other Houlihan Lokey news, Chairman Scott L. Beiser sold 8,008 shares of the business's 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 legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, General Counsel Christopher M. Crain sold 500 shares of the stock in a transaction dated Monday, June 2nd. The stock was 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 have sold a total of 13,508 shares of company stock valued at $2,431,670 over the last three months. 23.68% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Houlihan Lokey

Several institutional investors have recently modified their holdings of HLI. Elevation Point Wealth Partners LLC bought a new stake in Houlihan Lokey during the 1st quarter worth approximately $619,000. QRG Capital Management Inc. increased its position in shares of Houlihan Lokey by 9.7% during the first quarter. QRG Capital Management Inc. now owns 4,987 shares of the financial services provider's stock worth $805,000 after acquiring an additional 439 shares in the last quarter. New York State Teachers Retirement System raised its holdings in shares of Houlihan Lokey by 1.1% during the first quarter. New York State Teachers Retirement System now owns 17,926 shares of the financial services provider's stock worth $2,895,000 after acquiring an additional 200 shares during the period. GAMMA Investing LLC lifted its position in Houlihan Lokey by 145.7% in the 1st quarter. GAMMA Investing LLC now owns 4,250 shares of the financial services provider's stock valued at $686,000 after acquiring an additional 2,520 shares in the last quarter. Finally, Cambridge Investment Research Advisors Inc. boosted its stake in Houlihan Lokey by 129.1% in the 1st quarter. Cambridge Investment Research Advisors Inc. now owns 3,613 shares of the financial services provider's stock worth $583,000 after purchasing an additional 2,036 shares during the period. Institutional investors own 78.07% of the company's stock.

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.