Houlihan Lokey Amends and Restates Class B Voting Trust

Houlihan Lokey ( (HLI) ) has provided an announcement.

On December 30, 2025, Houlihan Lokey, Inc. entered into an amended and restated voting trust agreement that replaces its prior 2015 voting trust structure governing Class B common stock. The revised agreement updates termination triggers, including ending the trust 10 years after the date on which all Class B shares convert into Class A or once the trust’s holdings fall below 5% of outstanding common stock, and introduces a requirement that any trust-held stake above 30% of the company’s outstanding shares after that conversion be voted proportionally with other shareholders. It also broadens employee flexibility by allowing former employees (no longer employed for at least 12 months) to have their shares released from the trust after the final conversion date and by expanding circumstances under which employees can withdraw shares for certain pledging, hedging, monetization, or similar transactions, subject to the company’s insider trading policy. Because some directors serve as trustees and hold Class B shares subject to the trust, a special committee of disinterested directors was formed to review and negotiate the new agreement, and, after consulting independent advisors and management, the committee unanimously approved the amended and restated voting trust agreement and authorized officers to execute it, clarifying governance and voting mechanics for major shareholders and employees.

The most recent analyst rating on (HLI) stock is a Buy with a $228.00 price target. To see the full list of analyst forecasts on Houlihan Lokey stock, see the HLI Stock Forecast page.

Spark’s Take on HLI Stock

According to Spark, TipRanks’ AI Analyst, HLI is a Outperform.

Houlihan Lokey’s strong financial performance and positive earnings call sentiment are the primary drivers of its overall score. However, bearish technical indicators and a relatively high P/E ratio temper the outlook. The company’s robust cash flows and conservative leverage profile provide a solid foundation, but market sentiment and valuation concerns warrant caution.

To see Spark’s full report on HLI stock, click here.

More about Houlihan Lokey

Houlihan Lokey, Inc. is a global investment bank and financial services firm that provides advisory services including mergers and acquisitions, capital markets, financial restructuring, and financial and valuation advisory to corporate clients, financial sponsors, and other institutions.

Average Trading Volume: 444,500

Technical Sentiment Signal: Buy

Current Market Cap: $12.44B

See more insights into HLI stock on TipRanks’ Stock Analysis page.