Zacks Investment Research upgraded shares of Houlihan Lokey, Inc. (NYSE:HLI) from a sell rating to a hold rating in a research report released on Monday.

According to Zacks, “Houlihan Lokey, Inc. is an investment bank which focuses on mergers and acquisitions, financings, financial restructurings and financial advisory services. The Company’s operating segment consists of Corporate Finance, encompassing M&A and capital markets advisory; Financial Restructuring both out-of-court and in formal bankruptcy or insolvency proceedings and Financial Advisory Services, including financial opinions and a variety of valuation and financial consulting services. It operates primarily in the United States, Europe, Asia and Australia. Houlihan Lokey, Inc. is based in LOS ANGELES, United States. “

HLI has been the topic of several other research reports. Keefe, Bruyette & Woods reissued a buy rating and set a $38.00 target price on shares of Houlihan Lokey in a research note on Wednesday, June 14th. JMP Securities restated an outperform rating and set a $36.00 price target (up previously from $34.00) on shares of Houlihan Lokey in a report on Friday, April 7th. Finally, Bank of America Corporation cut Houlihan Lokey from a buy rating to a neutral rating and raised their price target for the company from $36.00 to $38.00 in a report on Thursday, May 11th. They noted that the move was a valuation call. Three investment analysts have rated the stock with a hold rating and two have given a buy rating to the stock. The stock currently has an average rating of Hold and an average target price of $37.00.

Shares of Houlihan Lokey (HLI) traded down 0.66% on Monday, hitting $34.67. The stock had a trading volume of 17,937 shares. The firm has a 50-day moving average price of $34.10 and a 200-day moving average price of $32.51. The stock has a market capitalization of $2.33 billion, a P/E ratio of 21.27 and a beta of 0.30. Houlihan Lokey has a 52 week low of $20.96 and a 52 week high of $36.65.

Houlihan Lokey (NYSE:HLI) last issued its earnings results on Tuesday, May 9th. The financial services provider reported $0.59 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.45 by $0.14. The company had revenue of $257.10 million for the quarter, compared to the consensus estimate of $207.02 million. Houlihan Lokey had a return on equity of 17.83% and a net margin of 12.42%. The firm’s quarterly revenue was up 40.0% on a year-over-year basis. During the same quarter last year, the company earned $0.43 EPS. Equities analysts expect that Houlihan Lokey will post $1.94 earnings per share for the current fiscal year.

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The company also recently declared a quarterly dividend, which was paid on Thursday, June 15th. Shareholders of record on Friday, June 2nd were issued a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a yield of 2.29%. The ex-dividend date was Wednesday, May 31st. Houlihan Lokey’s dividend payout ratio is presently 49.38%.

A number of institutional investors have recently added to or reduced their stakes in HLI. Victory Capital Management Inc. boosted its position in Houlihan Lokey by 9.1% in the first quarter. Victory Capital Management Inc. now owns 4,590 shares of the financial services provider’s stock valued at $158,000 after buying an additional 381 shares in the last quarter. Legal & General Group Plc boosted its position in Houlihan Lokey by 37.8% in the first quarter. Legal & General Group Plc now owns 4,628 shares of the financial services provider’s stock valued at $159,000 after buying an additional 1,270 shares in the last quarter. O Shaughnessy Asset Management LLC purchased a new position in Houlihan Lokey during the first quarter valued at $182,000. Jane Street Group LLC purchased a new position in Houlihan Lokey during the first quarter valued at $205,000. Finally, Trexquant Investment LP purchased a new position in Houlihan Lokey during the fourth quarter valued at $214,000. Institutional investors and hedge funds own 33.11% of the company’s stock.

About Houlihan Lokey

Houlihan Lokey, Inc is a global independent investment bank that focuses on mergers and acquisitions (M&A), financings, financial restructurings and financial advisory services. The Company operates through three segments: Corporate Finance, Financial Restructuring and Financial Advisory Services. The Company serves a set of clients across the world, including corporations, financial sponsors and government agencies.

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