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Fly Intel: After-Hours Movers » 18:3201/3101/31/23
CACC, OI, SYK, EW, AMD, MDLZ, JSPR, SNAP, HA, EA, MTCH, WDC, VREX, JNPR, SMCI, ASH, HLI, TSHA, PSTX
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Houlihan Lokey reports Q3 adjusted EPS $1.14, consensus $1.15 » 16:1701/3101/31/23
Reports Q3 revenue $456M,…
Reports Q3 revenue $456M, consensus $479.19M. "Houlihan Lokey continues to operate in a challenging M&A environment, which negatively impacted our third quarter fiscal 2023 results. However, once again the firm distinguished itself in the industry in calendar year 2022. I am proud to announce that in 2022 we were recognized as the #1 M&A advisor globally based on number of completed transactions, the #1 restructuring advisor globally based on both the number of completed transactions and value, and the #1 most active fairness opinion advisor by volume for the past 25 years, per Refinitiv. The firm is well poised to continue its long term growth profile when the market dynamics improve." stated Scott Beiser, Chief Executive Officer of Houlihan Lokey.
Houlihan Lokey price target raised to $95 from $90 at Keefe Bruyette » 20:5401/0201/02/23
Keefe Bruyette analyst…
Keefe Bruyette analyst Matthew Moon raised the firm's price target on Houlihan Lokey to $95 from $90 and keeps a Market Perform rating on the shares after taking over coverage of the name. The analyst is entering 2023 with a market-weight position on the M&A independents group. He sees near-term value in companies with higher relative exposure to hi top three identified themes: U.S.-based M&A, restructuring, and strategically rather than sponsor driven deals. Against this backdrop, Moon's top picks for the space are Evercore and PJT Partners (PJT). Alternatively, Lazard's (LAZ) higher relative European M&A exposure as well as continued concerns on its asset management business, Moelis' (MC) high sponsor exposure, and Greenhill & Co.'s (GHL) continued comp and headcount pressure warrant Underperform ratings, Moon tells investors in a research note. The analyst also offers a "tactical pair-trade idea" of overweight PJT, underweight Perella Weinberg Partners (PWP).
|Over a quarter ago|
Houlihan Lokey has agreed to acquire independent advisory firm Oakley Advisory » 08:0511/1411/14/22
Houlihan Lokey has…
Houlihan Lokey has agreed to acquire Oakley Advisory, an independent advisory firm that provides a range of services to clients across the digital infrastructure, communications services, and cloud landscape. This transaction adds substantially to Houlihan Lokey's global coverage of the digital infrastructure sector and significantly augments the existing sector coverage in Europe. Oakley Advisory was formed in 2015 by Managing Partners Chris Godsmark and Christian Maher, who for the previous eight years had built up the firm as Oakley Capital Corporate Finance. The Oakley Advisory team has an industry heritage of more than two decades and provides clients with a full suite of sector specialist services, including private and public company M&A, equity and debt fundraisings, and IPO advisory. To date, the team has completed more than 150 transactions with a combined deal value of over GBP 35 billion and has a large international network of client relationships with corporates, listed companies, private equity funds, infrastructure funds, and family offices. As part of this transaction, Chris Godsmark and Christian Maher join Houlihan Lokey as Managing Directors to spearhead the expansion of the firm's market-leading digital infrastructure coverage into Europe.
Houlihan Lokey CEO Beiser sells $1.5M in company shares » 17:1811/0911/09/22
CEO of Houlihan Loke…
CEO of Houlihan Loke Scott Beiser sold 16,367 shares of company stock at $93.28 per share on November 7, for a total transaction amount of $1,526,714.
Houlihan Lokey reports Q2 adjusted EPS $1.19, consensus $1.03 » 16:2210/2710/27/22
Reports Q2 revenue…
Reports Q2 revenue $489.54M, consensus $432.65M. "Our second quarter results reflect the benefit of our diversified business model. In a challenging market environment, growth in Financial Restructuring and Financial and Valuation Advisory partly offset headwinds in our Corporate Finance business. We are proud to note that our Financial and Valuation Advisory business recorded its second-best quarter ever, as we continue to grow that business across all service lines. Market conditions for Financial Restructuring continue to improve and we see potential that this cycle may produce an elevated level of restructuring revenues over an extended period of time. In Corporate Finance, despite difficult year-over-year comparisons, we are starting to see an increase in deal closings leading into the second half of the fiscal year, and the quality of our new deal activity continues to improve. We remain confident the Firm is well positioned across various types of macro-economic environments" stated Scott Beiser, CEO of Houlihan Lokey.
Bausch Health taps advisers to help it map out future, WSJ reports » 17:0008/2208/22/22
Bausch Health (BHC) has…
Bausch Health (BHC) has tapped advisers to help it figure out the future of the company after it lost a major patent dispute and has attracted controversy over the recent spinoff of its eye-care unit, the Wall Street Journal's Alexander Saeedy reports. The company has retained law firm White & Case LLP and investment bank Houlihan Lokey (HLI) to advise it on strategic options going forward, the author notes. Reference Link
Houlihan Lokey reports Q1 EPS $1.03, consensus 94c » 16:2607/2807/28/22
Reports Q1 revenue…
Reports Q1 revenue $418.6M, consensus $396.9M. "We had a solid first fiscal quarter and our diversified business model is performing as we would expect it to in the face of current market conditions. We are seeing a slowdown in global M&A closings; however, new business activity in both our corporate finance and financial and valuation advisory business segments remains healthy. Furthermore, we are beginning to experience a meaningful increase in distressed business opportunities. Regardless of the business environment we encounter in the coming quarters, we believe we are well positioned to successfully address a variety of market conditions," stated Scott Beiser, CEO.
Street Wrap: Today's Top 15 Upgrades, Downgrades, Initiations » 10:0007/1807/18/22
YUM, JPM, BWA, HLI, EXFY, GM, GT, PARA, FOXA, FOX, EAT, CMG, MC, BL, KHC, PEN, DICE, CVRX, OYST
Houlihan Lokey upgraded to Equal Weight from Underweight at Morgan Stanley » 07:0907/1807/18/22
Morgan Stanley analyst…
Morgan Stanley analyst Manan Gosalia upgraded Houlihan Lokey to Equal Weight from Underweight with a price target of $82, down from $95. Houlihan Lokey's multiple has held up better than peers during prior recession fears as a skew to the counter-cyclical restructuring business and less volatile Financial & Valuation Advisory business makes them a more defensive play, said Gosalia, who expects "this time should be no different." Houlihan Lokey also typically sees more opportunity to acquire smaller boutique advisors during downturns, which drives more revenue upside when the cycle turns, the analyst added.