Houlihan Lokey (NYSE:HLI) Price Target Cut to $129.00 by Analysts at JPMorgan Chase & Co.

Houlihan Lokey (NYSE:HLI) had its price objective lowered by JPMorgan Chase & Co. from $132.00 to $129.00 in a research note released on Wednesday morning, Benzinga reports. The firm currently has a neutral rating on the financial services provider’s stock.

Other equities analysts have also recently issued reports about the company. Keefe, Bruyette & Woods reiterated 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. JMP Securities reissued a market perform rating on shares of Houlihan Lokey in a research note on Tuesday, April 9th. Morgan Stanley increased their target price on Houlihan Lokey from $131.00 to $148.00 and gave the stock an equal weight rating in a research note on Tuesday, July 23rd. Finally, UBS Group increased their price target on Houlihan Lokey from $157.00 to $170.00 and gave the company a buy rating in a research report on Wednesday. Five analysts have rated the stock with a hold rating and one has assigned a buy rating to the stock. According to MarketBeat.com, Houlihan Lokey presently has an average rating of Hold and a consensus price target of $150.25.

Houlihan Lokey Trading Down 1.3 %

NYSE HLI opened at $145.55 on Wednesday. The stock has a market cap of $9.98 billion, a PE ratio of 35.41 and a beta of 0.67. Houlihan Lokey has a twelve month low of $94.67 and a twelve month high of $153.08. The stock has a fifty day simple moving average of $137.23 and a 200-day simple moving average of $130.96.

Houlihan Lokey (NYSE:HLI) last released its quarterly earnings results on Tuesday, July 30th. The financial services provider reported $1.22 earnings per share for the quarter, hitting analysts’ consensus estimates of $1.22. The business had revenue of $514.00 million during the quarter, compared to analysts’ expectations of $508.70 million. Houlihan Lokey had a return on equity of 18.80% and a net margin of 15.30%. The company’s revenue was up 23.6% compared to the same quarter last year. During the same period in the prior year, the business posted $0.89 EPS. Research analysts predict that Houlihan Lokey will post 5.67 EPS for the current year.

Houlihan Lokey Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Sunday, September 15th. Shareholders of record on Tuesday, September 3rd will be given a $0.57 dividend. This represents a $2.28 dividend on an annualized basis and a yield of 1.57%. The ex-dividend date of this dividend is Tuesday, September 3rd. Houlihan Lokey’s dividend payout ratio is currently 55.47%.

Insider Activity

In other news, insider David A. Preiser sold 20,000 shares of the stock in a transaction dated Tuesday, June 4th. The stock was sold at an average price of $133.21, for a total value of $2,664,200.00. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. In other news, Chairman Irwin Gold sold 9,902 shares of the stock in a transaction dated Friday, June 28th. The stock was sold at an average price of $135.25, for a total value of $1,339,245.50. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, insider David A. Preiser sold 20,000 shares of the stock in a transaction dated Tuesday, June 4th. The shares were sold at an average price of $133.21, for a total value of $2,664,200.00. The disclosure for this sale can be found here. Company insiders own 25.97% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in HLI. Opal Wealth Advisors LLC purchased a new position in shares of Houlihan Lokey in the 2nd quarter valued at approximately $26,000. Crewe Advisors LLC grew its stake in shares of 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 purchasing an additional 164 shares during the last quarter. Accent Capital Management LLC purchased a new position in shares of Houlihan Lokey in the 4th quarter valued at approximately $42,000. Benjamin F. Edwards & Company Inc. grew its stake in shares of Houlihan Lokey by 194.9% in the 1st quarter. Benjamin F. Edwards & Company Inc. now owns 401 shares of the financial services provider’s stock valued at $52,000 after purchasing an additional 265 shares during the last quarter. Finally, Mather Group LLC. purchased a new position in shares of Houlihan Lokey in the 1st quarter valued at approximately $74,000. Hedge funds and other 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.