NEW YORK - Houlihan Lokey, Inc. (NYSE:HLI), a prominent global investment bank, has announced the appointment of Michael Schwartz as a Managing Director in its Capital Markets Group. Schwartz, with a robust background in private financing, joins the New York office to bolster the firm's private capital financing initiatives across various industries.
Schwartz's transition to Houlihan Lokey follows a seven-year tenure at Lazard (NYSE:LAZ), where he served as a Managing Director and led the Private Financing Group. His experience also includes a significant period at Cowen and Company, where he was a Managing Director in the Debt Capital Markets group.
Anthony Martino, Managing Director and Global Co-Head of Houlihan Lokey's Capital Markets Group, expressed enthusiasm over Schwartz's addition, citing his deep client relationships and industry expertise as valuable assets to the team. Schwartz's role is expected to support Houlihan Lokey's commitment to delivering successful financial outcomes globally.
The hire of Schwartz comes on the heels of the firm's recent onboarding of Brent Shepherd and Michael Hommeyer as managing directors, signaling a strategic expansion of the Capital Markets team. This group, which has over 90 dedicated finance professionals spread across international offices, has been instrumental in navigating the surge in private capital markets.
In 2023, the Capital Markets Group at Houlihan Lokey facilitated and advised on capital transactions totaling approximately $14 billion, spanning around 100 deals with nearly 65 different financial sponsors.
Houlihan Lokey's reputation in the investment banking sector is well-established, with a history of topping global M&A transaction rankings and holding the No. 1 position for M&A advisory in the U.S. for nine consecutive years, as well as leading in global restructuring for ten years in a row, according to data from LSEG.
This news is based on a press release statement from Houlihan Lokey, Inc.
InvestingPro Insights
As Houlihan Lokey, Inc. (NYSE:HLI) continues to strengthen its Capital Markets Group with strategic hires, the firm's financial standing remains a key point of interest for investors. With Michael Schwartz's appointment potentially enhancing the company's private capital financing capabilities, it's timely to consider Houlihan Lokey's financial metrics and market performance.
InvestingPro data highlights that Houlihan Lokey has a market capitalization of approximately $9.08 billion, reflecting the firm's substantial presence in the investment banking sector. The company's P/E ratio stands at 32.21, which may suggest that the stock is trading at a high earnings multiple. This is further emphasized by an adjusted P/E ratio for the last twelve months as of Q3 2024 at 35.29, indicating a premium valuation relative to near-term earnings growth.
Moreover, Houlihan Lokey has a solid track record of dividend payments, with a current dividend yield of 1.69%. The firm has raised its dividend for 9 consecutive years and has maintained dividend payments for 10 consecutive years. This consistency in rewarding shareholders is a testament to the company's financial health and commitment to returning value to investors.
InvestingPro Tips reveal that while Houlihan Lokey is trading at a high P/E ratio relative to near-term earnings growth, analysts predict the company will be profitable this year, which could be a positive signal for potential investors. Additionally, the firm's stock is trading near its 52-week high, with a price that is 97.48% of the peak, possibly indicating strong investor confidence in its market position and future prospects.
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