JPMorgan Chase & Co. Cuts Houlihan Lokey (NYSE:HLI) Price Target to $129.00

Houlihan Lokey (NYSE:HLI) had its target price cut by investment analysts at JPMorgan Chase & Co. from $132.00 to $129.00 in a report released on Wednesday, Benzinga reports. The brokerage presently has a “neutral” rating on the financial services provider’s stock. JPMorgan Chase & Co.‘s price objective indicates a potential downside of 15.23% from the company’s current price.

Other equities analysts have also recently issued research reports about the stock. Morgan Stanley raised their target price on shares of Houlihan Lokey from $131.00 to $148.00 and gave the stock an “equal weight” rating in a report on Tuesday, July 23rd. JMP Securities restated a “market perform” rating on shares of Houlihan Lokey in a research note on Tuesday, April 9th. Keefe, Bruyette & Woods restated a “market perform” rating and issued a $154.00 price target (up previously from $139.00) on shares of Houlihan Lokey in a research note on Wednesday. Finally, UBS Group raised their price target on shares of Houlihan Lokey from $157.00 to $170.00 and gave the company a “buy” rating in a research note on Wednesday. Five research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and an average price target of $150.25.

Houlihan Lokey Trading Up 2.4 %

NYSE HLI traded up $3.51 during trading hours on Wednesday, reaching $152.17. The company’s stock had a trading volume of 453,124 shares, compared to its average volume of 337,490. The business has a 50-day simple moving average of $136.46 and a 200 day simple moving average of $130.39. Houlihan Lokey has a 52 week low of $94.67 and a 52 week high of $152.56. The stock has a market cap of $10.44 billion, a PE ratio of 36.83 and a beta of 0.67.

Houlihan Lokey (NYSE:HLI) last issued its earnings results on Tuesday, July 30th. The financial services provider reported $1.22 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $1.22. Houlihan Lokey had a net margin of 14.64% and a return on equity of 18.08%. The firm had revenue of $514.00 million for the quarter, compared to analysts’ expectations of $508.70 million. During the same quarter last year, the company posted $0.89 earnings per share. Houlihan Lokey’s revenue was up 23.6% on a year-over-year basis. As a group, equities analysts predict that Houlihan Lokey will post 5.63 EPS for the current year.

Insider Activity at Houlihan Lokey

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

Hedge Funds Weigh In On Houlihan Lokey

Several institutional investors and hedge funds have recently modified their holdings of the stock. Vanguard Group Inc. grew its holdings in shares of Houlihan Lokey by 0.6% during the 1st quarter. Vanguard Group Inc. now owns 5,104,143 shares of the financial services provider’s stock valued at $654,300,000 after acquiring an additional 29,843 shares in the last quarter. Burgundy Asset Management Ltd. grew its holdings in shares of Houlihan Lokey by 2.8% during the 4th quarter. Burgundy Asset Management Ltd. now owns 1,714,480 shares of the financial services provider’s stock valued at $205,583,000 after acquiring an additional 46,443 shares in the last quarter. Fiduciary Management Inc. WI grew its holdings in shares of Houlihan Lokey by 3.4% during the 4th quarter. Fiduciary Management Inc. WI now owns 1,195,597 shares of the financial services provider’s stock valued at $143,364,000 after acquiring an additional 39,705 shares in the last quarter. Capital International Investors grew its holdings in shares of Houlihan Lokey by 56.7% during the 4th quarter. Capital International Investors now owns 792,073 shares of the financial services provider’s stock valued at $94,977,000 after acquiring an additional 286,746 shares in the last quarter. Finally, Sei Investments Co. grew its holdings in shares of Houlihan Lokey by 5.5% during the 1st quarter. Sei Investments Co. now owns 731,130 shares of the financial services provider’s stock valued at $93,723,000 after acquiring an additional 37,882 shares in the last quarter. 78.07% of the stock is currently owned by hedge funds and other institutional investors.

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.