Houlihan Lokey, Inc. (NYSE: HLI) shares experienced a noteworthy surge of 4.61% during the extended trading session on Friday, reaching $115.00. The stock had concluded the regular trading session at $109.93, reflecting a 2.05% increase. This upward movement in HLI stock coincided with the anticipation of a significant event in which the global investment bank is poised to participate.
Houlihan Lokey (HLI) has disclosed that its Chief Executive Officer, Scott Beiser, and Managing Director and Global Co-Head of Capital Markets, Gregg Newman, are scheduled to deliver a presentation at the Goldman Sachs’ 2023 US Financial Services Conference on Tuesday, December 5, 2023, at 4:20 p.m. Eastern Time.
Furthermore, HLI is set to join the esteemed ranks of the S&P Dow Jones Indices (“S&P DJI”), replacing Topgolf Callaway in the S&P MidCap 400. The changes to the S&P 500, S&P MidCap 400, and S&P SmallCap 600 indices, effective before the opening of trading on Monday, December 18, as part of the quarterly rebalance, will position all newly added companies in the S&P MidCap 400 to be more representative of the mid-cap market space.
In a strategic move, Houlihan Lokey recently welcomed Kartik Sudeep as a Managing Director in its FinTech Group. Based in New York, Mr. Sudeep will spearhead and enhance the firm’s coverage in the payments sector within FinTech. His appointment follows a tenure at Moelis & Company, where he served as a Managing Director and senior coverage officer for FinTech, providing counsel to corporates and financial sponsors on various M&A and financing transactions across the payments sector.
Prior to his role at Moelis, Mr. Sudeep held significant positions in Jefferies’ Technology Investment Banking Group, including that of a senior coverage officer for the financial technology, payments, and software sectors.
Given that the payments sector represents the largest segment within the FinTech landscape, encompassing both pure-play payments companies and numerous software firms incorporating extensive payments capabilities into their core operations, Mr. Sudeep’s profound sector expertise is expected to play a pivotal role in guiding HLI’s global clientele and further enhancing the firm’s established success in the payments sector.
