Stock Alert: Houlihan Lokey Shares Retreat After Hitting New All-time High

(RTTNews) - Shares of Houlihan Lokey, Inc. (HLI) set a new all-time high of $59.36 today, riding a strong third-quarter. The stock broke through resistance around $51-$52 levels to hit a new high, but has retreated now to $55.86, which is still 6.56% higher than yesterday's close. Current trading volume is 406k shares vs. average trading volume of 247k.

The investment banking company reported better-than-expected Q3 results, after the bell yesterday. Q4 eps was $0.88 per share vs. year-ago number and consensus of $0.77. Revenues rose 11.9% to $333.52 million from $298.01 million last year. Analysts were modeling revenues of $296.4 million.

Scott Beiser, CEO of Houlihan Lokey, commented, "Houlihan Lokey had a strong fiscal third quarter and we enter the new decade with good momentum across all three of our product lines."