Houlihan Lokey (HLI) Stock Surged on Better Than Expected Quarterly Results

Baron Funds, an investment management company, released its “Baron FinTech Fund” fourth quarter 2022 investor letter. A copy of the same can be downloaded here. In the fourth quarter, the fund gained 4.98% (Institutional Shares) compared to a 7.56% gain for the S&P 500 benchmark index and a 3.91% return for the FactSet Global FinTech Index. Favorable stock selection in Information Services, Payments, and Capital Markets contributed to the gains of the fund in the quarter. In addition, please check the fund’s top five holdings to know its best picks in 2022.

Baron FinTech Fund highlighted stocks like Houlihan Lokey, Inc. (NYSE:HLI) in its Q4 2022 investor letter. Headquartered in Los Angeles, California, Houlihan Lokey, Inc. (NYSE:HLI) is an investment banking company. On February 17, 2023, Houlihan Lokey, Inc. (NYSE:HLI) stock closed at $99.17 per share. One-month return of Houlihan Lokey, Inc. (NYSE:HLI) was 2.23% and its shares lost 8.46% of their value over the last 52 weeks. Houlihan Lokey, Inc. (NYSE:HLI) has a market capitalization of $6.805 billion.

Baron FinTech Fund made the following comment about Houlihan Lokey, Inc. (NYSE:HLI) in its Q4 2022 investor letter:

“Global investment bank Houlihan Lokey, Inc. (NYSE:HLI) also provided a lift to performance after reporting better-than-expected quarterly results despite challenging market conditions. M&A activity should pick up from depressed levels, and the pipeline for restructuring mandates is growing quickly.”

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Houlihan Lokey, Inc. (NYSE:HLI) is not on our list of 30 Most Popular Stocks Among Hedge Funds. As per our database, 22 hedge fund portfolios held Houlihan Lokey, Inc. (NYSE:HLI) at the end of the third quarter, which was 18 in the previous quarter.

We discussed Houlihan Lokey, Inc. (NYSE:HLI) in another article and shared the list of best dividend growth stocks to buy. In addition, please check out our hedge fund investor letters Q4 2022 page for more investor letters from hedge funds and other leading investors.

 

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Disclosure: None. This article is originally published at Insider Monkey.