Gillian Beth Zucker, a director at Houlihan Lokey, Inc. (NYSE:HLI), has sold 200 shares of the company's Class A common stock, according to a recent regulatory filing. The transaction, which took place on September 13, 2024, was executed at a price of $152.28 per share, resulting in a total sale value of $30,456.
The sale was conducted under a Rule 10b5-1 trading plan, which Zucker had previously adopted on May 21, 2024. Such plans allow company insiders to set up a predetermined schedule for buying or selling shares at a time when they are not in possession of material, non-public information, to avoid accusations of insider trading.
Following the sale, Zucker's holdings in Houlihan Lokey decreased to 6,801 shares of Class A common stock. The transaction was disclosed in a Form 4 filing with the Securities and Exchange Commission.
Houlihan Lokey, headquartered in Los Angeles, California, is a global investment bank that provides financial advisory services, including mergers and acquisitions, restructuring, and financial restructuring advice. The company's stock is listed on the New York Stock Exchange under the ticker symbol HLI.
In other recent news, Houlihan Lokey has been making significant strides in both personnel and financial growth. The global investment bank recently announced the appointment of Geoff Rhizor as a Managing Director within its Technology Group, following his six-year tenure at Canaccord Genuity (TSX:CF). Similarly, Andrew Atherton, a former Partner at Union Square (NYSE:SQ) Advisors, has joined the firm as a Managing Director for its FinTech Group.
On the financial front, Houlihan Lokey reported a robust start to its fiscal year 2025, with first-quarter revenues reaching $514 million, marking a 24% increase from the previous year. The firm's adjusted earnings per share climbed by 37%, hitting $1.22. The Corporate Finance division spearheaded this growth with a 45% revenue increase.
In terms of future expectations, Houlihan Lokey is optimistic about continued growth quarter-over-quarter, given favorable market conditions. The integration of GCA has bolstered its European operations, and the firm is actively seeking acquisitions or organic hires to address underweighted sectors. However, it expects the tax rate to be at the higher end of the historic range due to operations in higher tax jurisdictions. These are among the recent developments at Houlihan Lokey.
InvestingPro Insights
As Houlihan Lokey, Inc. (NYSE:HLI) continues to navigate the financial advisory landscape, recent data from InvestingPro provides insights into the company's financial health and market performance. With a market capitalization of $10.71 billion, Houlihan Lokey stands as a significant player in the investment banking sector. The company's P/E ratio, a measure of its current share price relative to its per-share earnings, is currently at 32.31, suggesting investors are expecting higher earnings in the future.
InvestingPro Tips highlight that Houlihan Lokey has a history of rewarding its shareholders, having raised its dividend for 9 consecutive years and maintained dividend payments for 10 consecutive years. This consistent return to shareholders is an important consideration for investors looking for stable income streams. Additionally, the company's stock is trading near its 52-week high, with a price that is 97.78% of this peak, indicating strong market confidence.
Moreover, the company has experienced a strong return over the last three months, with a price total return of 18.64%, showcasing robust short-term performance. For investors seeking more comprehensive analysis and additional insights, InvestingPro offers a total of 12 tips on Houlihan Lokey, available at their website.
These financial metrics and InvestingPro Tips can offer investors a more nuanced understanding of Houlihan Lokey's stock performance and potential as the company continues to provide expert financial advisory services to its clients.
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