Shares of Houlihan Lokey Inc. (NYSE:HLI) were up 4.4% during mid-day trading on Friday . The company traded as high as $23.48 and last traded at $23.44, with a volume of 80,848 shares. The stock had previously closed at $22.46.

Separately, Zacks Investment Research cut Houlihan Lokey from a “hold” rating to a “sell” rating in a report on Monday, May 30th. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and four have assigned a buy rating to the stock. Houlihan Lokey currently has an average rating of “Hold” and an average price target of $26.38.

The company has a market capitalization of $1.57 billion and a price-to-earnings ratio of 21.31. The stock’s 50-day moving average is $23.22 and its 200 day moving average is $24.06.

Houlihan Lokey (NYSE:HLI) last issued its quarterly earnings data on Wednesday, May 18th. The company reported $0.43 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.45 by $0.02. During the same quarter in the prior year, the company earned $0.41 EPS. The firm earned $183.59 million during the quarter, compared to analyst estimates of $195.85 million. The firm’s quarterly revenue was down 1.5% on a year-over-year basis. On average, equities analysts expect that Houlihan Lokey Inc. will post $1.73 earnings per share for the current fiscal year.

An institutional investor recently bought a new position in Houlihan Lokey stock. Russell Frank Co acquired a new stake in shares of Houlihan Lokey Inc. (NYSE:HLI) during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund acquired 58,010 shares of the company’s stock, valued at approximately $1,478,000. Russell Frank Co owned approximately 0.09% of Houlihan Lokey as of its most recent filing with the SEC.

Houlihan Lokey, Inc (Houlihan Lokey) is an independent investment bank with focus on mergers and acquisitions, financings, financial restructurings and financial advisory services. The Company operates in three segments: Corporate Finance, Financial Restructuring and Financial Advisory Services. Through Corporate Finance segment, it offers mergers and acquisitions, and capital markets advisory services.