Houlihan Lokey Inc. (NYSE: HLI) recently completed its initial public offering (IPO). We now have a view of how analysts are rating the firm since the underwriters’ imposed quiet period has now expired.
On August 12 Houlihan Lokey announced the pricing of its IPO. Some 10,500,000 Class A shares were sold at a public offering price of $21.00 per share.
All the shares were being offered by an affiliate of ORIX USA and certain of the company’s employees and members of management. Houlihan Lokey said at the time that it would not receive any proceeds from the offering, including from any exercise by the underwriters of their option to purchase additional shares.
Houlihan Lokey official ratings were featured as follows:
- UBS started it as Buy with a $25.00 price target.
- Goldman Sachs started it as Neutral with a $25.00 price target.
- JMP Securities started it as Market Perform with a $27.00 price target.
- Keefe Bruyette & Woods started it as Outperform with a $28.00 price target.
- Bank of America Merrill Lynch started it as Buy with a $26.00 price objective.
Houlihan Lokey closed at $22.35 on Friday, and it has a post-IPO range of $18.22 to $23.10. Despite a strong market on Tuesday, the shares were down 1.4% at $22.03, and its post-IPO trading range has been $18.22 to $23.10. Houlihan Lokey has a market cap of roughly $1.4 billion.
Another disappointment would be that this stock has traded only about 100,000 shares, with about two hours until the close of trading. Its volume was 4.71 million shares on the opening day of August 13, and trading volume has tapered off since.
ALSO READ: 3 Stocks to Buy That Got Hit Despite Great Earnings and Prospects
Take Charge of Your Retirement In Just A Few Minutes (Sponsor)
Retirement planning doesn’t have to feel overwhelming. The key is finding expert guidance—and SmartAsset’s made it easier than ever for you to connect with a vetted financial advisor.
Here’s how it works:
- Answer a Few Simple Questions. Tell us a bit about your goals and preferences—it only takes a few minutes!
- Get Matched with Vetted Advisors Our smart tool matches you with up to three pre-screened, vetted advisors who serve your area and are held to a fiduciary standard to act in your best interests. Click here to begin
- Choose Your Fit Review their profiles, schedule an introductory call (or meet in person), and select the advisor who feel is right for you.
Why wait? Start building the retirement you’ve always dreamed of. Click here to get started today!
Thank you for reading! Have some feedback for us?
Contact the 24/7 Wall St. editorial team.
Latest from 24/7
Our expert who first called NVIDIA in 2009 is predicting 2025 will see a historic AI breakthrough.
You can follow him investing $500,000 of his own money on our top AI stocks for free.