Houlihan Lokey, Inc., Share Holding Group Liquidates Stock in Company


 
 
02:57 08/07/2018

Today, August 7th, marks the second sales of stock transaction for one of Houlihan Lokey, Inc.’s HLI  major shareholders, Orix HLHZ Holding LLC. Over the last four trading days the investment firm has sold over 60,512 shares for total value of $2,951,997.00.

Recently, on July 26th, Houlihan Lokey HLI  reported financial results for its first quarter ended June 30, 2018. For the first quarter, revenues increased to $220 million, compared with $217 million for the first quarter ended June 30, 2017.

"We achieved solid first quarter revenues and earnings as we kick off our fiscal 2019 with strong momentum in our business. We are excited about two recent strategic announcements that we believe will contribute to the long term growth of the firm: the acquisition of BearTooth Advisors, which establishes a new Private Funds Group practice; and the formation of HL Finance, LLC to arrange leveraged loans for our financial sponsor-backed, privately held and public company clients. Our management team remains committed to increasing shareholder value by building a highly diversified business model that can be opportunistic in any business environment." stated Scott Beiser, Chief Executive Officer of Houlihan Lokey.

Net income decreased 24% to $30 million, or $0.45 per diluted share, for the first quarter ended June 30, 2018, compared with $39 million, or $0.59 per diluted share, for the first quarter ended June 30, 2017. Adjusted net income for the first quarter ended June 30, 2018 grew 10% to $36 million, or $0.55 per diluted share, compared with $33 million, or $0.50 per diluted share, for the first quarter ended June 30, 2017.

Corporate Finance revenues grew 7% to $133 million, compared with $124 million during the first quarter ended June 30, 2017. The growth in revenues was primarily a result of (i) an increase in the number of transactions that closed during the quarter, and (ii) the recognition of reimbursements of out-of-pocket expenses as revenues. CF closed 69 transactions in the first quarter ended June 30, 2018, versus 52 transactions in the first quarter ended June 30, 2017. The increase in revenues was partially offset by a decrease in the average transaction fee for the quarter versus the same period last year.

Houlihan Lokey (NYSE:HLI) HLI  is a global investment bank with expertise in mergers and acquisitions, capital markets, financial restructuring, valuation, and strategic consulting. The firm serves corporations, institutions, and governments worldwide with offices in the United States, Europe, the Middle East, and the Asia-Pacific region. Independent advice and intellectual rigor are hallmarks of the firm's commitment to client success across its advisory services. Houlihan Lokey is ranked as the No. 1 M&A advisor for all U.S. transactions, the No. 1 global restructuring advisor, and the No. 1 global M&A fairness opinion advisor over the past 20 years, according to Thomson Reuters


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