Houlihan Lokey, Inc. (NYSE:HLI) Sees Large Decline in Short Interest

Houlihan Lokey, Inc. (NYSE:HLIGet Rating) was the recipient of a large decline in short interest during the month of April. As of April 30th, there was short interest totalling 1,490,000 shares, a decline of 19.9% from the April 15th total of 1,860,000 shares. Currently, 3.0% of the company’s stock are short sold. Based on an average daily volume of 448,200 shares, the days-to-cover ratio is currently 3.3 days.

Shares of NYSE HLI traded up $1.76 during mid-day trading on Tuesday, hitting $87.42. The company had a trading volume of 417,457 shares, compared to its average volume of 453,319. The company has a market capitalization of $5.89 billion, a price-to-earnings ratio of 13.41 and a beta of 0.65. Houlihan Lokey has a 1 year low of $71.04 and a 1 year high of $122.62. The stock’s 50-day moving average price is $88.23 and its 200-day moving average price is $101.08.

The company also recently declared a quarterly dividend, which will be paid on Wednesday, June 15th. Shareholders of record on Thursday, June 2nd will be paid a dividend of $0.53 per share. The ex-dividend date of this dividend is Wednesday, June 1st. This represents a $2.12 annualized dividend and a yield of 2.43%. This is a positive change from Houlihan Lokey’s previous quarterly dividend of $0.43. Houlihan Lokey’s payout ratio is 26.83%.

In other Houlihan Lokey news, Director Paul Andrew Zuber sold 2,000 shares of the business’s stock in a transaction that occurred on Friday, February 25th. The stock was sold at an average price of $103.40, for a total transaction of $206,800.00. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. 26.02% of the stock is owned by insiders.

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Walleye Capital LLC purchased a new position in Houlihan Lokey during the 1st quarter valued at about $277,000. Jane Street Group LLC bought a new position in Houlihan Lokey in the 1st quarter valued at approximately $462,000. Dynamic Technology Lab Private Ltd lifted its position in Houlihan Lokey by 907.6% in the 1st quarter. Dynamic Technology Lab Private Ltd now owns 27,680 shares of the financial services provider’s stock valued at $2,430,000 after acquiring an additional 24,933 shares in the last quarter. Eaton Vance Management lifted its holdings in shares of Houlihan Lokey by 8.3% during the 1st quarter. Eaton Vance Management now owns 245,973 shares of the financial services provider’s stock valued at $21,596,000 after buying an additional 18,764 shares during the period. Finally, Ensign Peak Advisors Inc lifted its holdings in shares of Houlihan Lokey by 344.7% during the 1st quarter. Ensign Peak Advisors Inc now owns 11,540 shares of the financial services provider’s stock valued at $1,013,000 after buying an additional 8,945 shares during the period. 74.34% of the stock is owned by institutional investors.

Several analysts recently issued reports on HLI shares. StockNews.com upgraded Houlihan Lokey from a “hold” rating to a “buy” rating in a research note on Wednesday, May 11th. Morgan Stanley cut their target price on Houlihan Lokey from $97.00 to $95.00 and set an “underweight” rating for the company in a research report on Friday, March 25th. Zacks Investment Research downgraded Houlihan Lokey from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, March 23rd. Piper Sandler downgraded Houlihan Lokey from a “neutral” rating to an “underweight” rating and dropped their price objective for the stock from $92.00 to $76.00 in a research report on Thursday, April 7th. Finally, The Goldman Sachs Group dropped their price objective on Houlihan Lokey from $127.00 to $111.00 and set a “buy” rating for the company in a research report on Tuesday, April 12th. Two analysts have rated the stock with a sell rating, three have given a hold rating and four have assigned a buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $105.83.

About Houlihan Lokey (Get Rating)

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.

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