Houlihan Lokey, Inc., an investment banking company, provides merger and acquisition (M&A), capital market, financial restructuring, and financial and valuation advisory services worldwide. It operates in three segments: Corporate Finance, Financial Restructuring, and Financial and Valuation Advisory. The Corporate Finance segment offers general financial advisory services; and advises public and private institutions on buy-side and sell-side transactions, leveraged loans, private mezzanine debt, high-yield debt, initial public offerings, follow-ons, convertibles, equity private placements, private equity, and liability management transactions, as well as financial sponsors on various transactions. It also provides financing solutions and capital-raising advisory services for publicly-held and multinational corporations, financial sponsors, and privately-held companies. The Financial Restructuring segment advises debtors, creditors, and other parties-in-interest related to recapitalization/deleveraging transactions. It also provides a range of advisory services, including structuring, negotiation, and confirmation of plans of reorganization; structuring and analysis of exchange offers; corporate viability assessment; dispute resolution and expert testimony; and procuring debtor-in-possession financing. The Financial and Valuation Advisory segment offers valuations of various assets, such as companies, illiquid debt and equity securities, and intellectual property. It also provides fairness opinions in connection with M&A and other transactions, and solvency opinions in connection with corporate spin-offs and dividend recapitalizations; and other types of financial opinions. In addition, this segment offers dispute resolution consulting services. It serves corporations, financial sponsors, and government agencies. The company was founded in 1972 and is headquartered in Los Angeles, California.
IPO Year: 2015
Exchange: NYSE
Website: hl.com
| Date | Price Target | Rating | Analyst |
|---|---|---|---|
| 12/9/2024 | $171.00 → $200.00 | Equal-Weight → Underweight | Morgan Stanley |
| 9/12/2024 | $149.00 | Underweight | Wells Fargo |
| 1/29/2024 | Mkt Perform | Keefe Bruyette | |
| 7/18/2022 | $95.00 → $82.00 | Underweight → Equal-Weight | Morgan Stanley |
| 4/7/2022 | $92.00 → $76.00 | Neutral → Underweight | Piper Sandler |
| 3/9/2022 | $122.00 → $106.00 | Neutral | Piper Sandler |
| 3/8/2022 | $106.00 → $97.00 | Underweight | Morgan Stanley |
| 2/9/2022 | $101.00 → $106.00 | Underweight | Morgan Stanley |
| 1/11/2022 | $97.00 → $101.00 | Underweight | Morgan Stanley |
| 1/6/2022 | $116.00 → $126.00 | Neutral → Buy | Goldman Sachs |
10-Q - HOULIHAN LOKEY, INC. (0001302215) (Filer)
8-K - HOULIHAN LOKEY, INC. (0001302215) (Filer)
424B7 - HOULIHAN LOKEY, INC. (0001302215) (Filer)
144 - HOULIHAN LOKEY, INC. (0001302215) (Subject)
8-K - HOULIHAN LOKEY, INC. (0001302215) (Filer)
424B7 - HOULIHAN LOKEY, INC. (0001302215) (Filer)
10-Q - HOULIHAN LOKEY, INC. (0001302215) (Filer)
8-K - HOULIHAN LOKEY, INC. (0001302215) (Filer)
8-K - HOULIHAN LOKEY, INC. (0001302215) (Filer)
8-K/A - HOULIHAN LOKEY, INC. (0001302215) (Filer)
4 - HOULIHAN LOKEY, INC. (0001302215) (Issuer)
4 - HOULIHAN LOKEY, INC. (0001302215) (Issuer)
4 - HOULIHAN LOKEY, INC. (0001302215) (Issuer)
4/A - HOULIHAN LOKEY, INC. (0001302215) (Issuer)
4 - HOULIHAN LOKEY, INC. (0001302215) (Issuer)
4 - HOULIHAN LOKEY, INC. (0001302215) (Issuer)
4 - HOULIHAN LOKEY, INC. (0001302215) (Issuer)
4 - HOULIHAN LOKEY, INC. (0001302215) (Issuer)
4 - HOULIHAN LOKEY, INC. (0001302215) (Issuer)
4 - HOULIHAN LOKEY, INC. (0001302215) (Issuer)
– Third Quarter Fiscal 2025 Revenues of $634 million – – Third Quarter Fiscal 2025 Diluted EPS of $1.39 – – Adjusted Third Quarter Fiscal 2025 Diluted EPS of $1.64 – – Announces Dividend of $0.57 per Share for Fourth Quarter Fiscal 2025 – Houlihan Lokey, Inc. (NYSE:HLI) ("Houlihan Lokey" or the "Company") today reported financial results for its third quarter ended December 31, 2024. For the third quarter ended December 31, 2024, revenues were $634 million, compared with $511 million for the third quarter ended December 31, 2023. Net income was $95 million, or $1.39 per diluted share, for the third quarter ended December 31, 2024, compared with $71 million, or $1.04 per diluted share, f
Houlihan Lokey, Inc. (NYSE:HLI), the global investment bank, today announced that it will release its third quarter results for the 2025 fiscal year on Tuesday, January 28, 2025, after the close of trading on the New York Stock Exchange. Houlihan Lokey will host a conference call at 5:00 p.m. (ET) that same day to review the results. On the call, Scott Adelson, Chief Executive Officer, and Lindsey Alley, Chief Financial Officer, will discuss the fiscal 2025 third quarter results and provide commentary on business performance. A question and answer session with analysts and investors will follow the prepared remarks. Access to the live conference call will be available via telephone or a
– Second Quarter Fiscal 2025 Revenues of $575 million – – Second Quarter Fiscal 2025 Diluted EPS of $1.37 – – Adjusted Second Quarter Fiscal 2025 Diluted EPS of $1.46 – – Announces Dividend of $0.57 per Share for Third Quarter Fiscal 2025 – Houlihan Lokey, Inc. (NYSE:HLI) ("Houlihan Lokey" or the "Company") today reported financial results for its second quarter ended September 30, 2024. For the second quarter ended September 30, 2024, revenues were $575 million, compared with $467 million for the second quarter ended September 30, 2023. Net income was $94 million, or $1.37 per diluted share, for the second quarter ended September 30, 2024, compared with $67 million, or $0.99 per diluted
Houlihan Lokey, Inc. (NYSE:HLI), the global investment bank, today announced that it will release its second quarter results for the 2025 fiscal year on Wednesday, October 30, 2024, after the close of trading on the New York Stock Exchange. Houlihan Lokey will host a conference call at 5:00 p.m. (ET) that same day to review the results. On the call, Scott Adelson, Chief Executive Officer, and Lindsey Alley, Chief Financial Officer, will discuss the fiscal 2025 second quarter results and provide commentary on business performance. A question and answer session with analysts and investors will follow the prepared remarks. Access to the live conference call will be available via telephone or
– First Quarter Fiscal 2025 Revenues of $514 million – – First Quarter Fiscal 2025 Diluted EPS of $1.30 – – Adjusted First Quarter Fiscal 2025 Diluted EPS of $1.22 – – Announces Dividend of $0.57 per Share for Second Quarter Fiscal 2025 – Houlihan Lokey, Inc. (NYSE:HLI) ("Houlihan Lokey" or the "Company") today reported financial results for its first quarter ended June 30, 2024. For the first quarter ended June 30, 2024, revenues were $514 million, compared with $416 million for the first quarter ended June 30, 2023. Net income was $89 million, or $1.30 per diluted share, for the first quarter ended June 30, 2024, compared with $61 million, or $0.90 per diluted share, for the fir
Houlihan Lokey, Inc. (NYSE:HLI), the global investment bank, today announced that it will release its first quarter results for the 2025 fiscal year on Tuesday, July 30, 2024, after the close of trading on the New York Stock Exchange. Houlihan Lokey will host a conference call at 5:00 p.m. (ET) that same day to review the results. On the call, Scott Adelson, Chief Executive Officer, and Lindsey Alley, Chief Financial Officer, will discuss the fiscal 2025 first quarter results and provide commentary on business performance. A question and answer session with analysts and investors will follow the prepared remarks. Access to the live conference call will be available via telephone or audi
– Fiscal Year 2024 Revenues of $1.91 billion – – Fiscal Year 2024 Diluted EPS of $4.11 – – Adjusted Fiscal Year 2024 Diluted EPS of $4.49 – – Fourth Quarter Fiscal 2024 Revenues of $520 million – – Fourth Quarter Fiscal 2024 Diluted EPS of $1.18 – – Adjusted Fourth Quarter Fiscal 2024 Diluted EPS of $1.27 – – Announces an Increase in the Quarterly Dividend to $0.57 per Share – Houlihan Lokey, Inc. (NYSE:HLI) ("Houlihan Lokey" or the "Company") today reported financial results for its fiscal year and fourth quarter ended March 31, 2024. For the fiscal year, revenues were $1.91 billion, compared with $1.81 billion for the fiscal year ended March 31, 2023. For the fourth quarter ended Ma
Houlihan Lokey, Inc. (NYSE:HLI), the global investment bank, today announced that it will release its fourth quarter and full year results for the 2024 fiscal year on Wednesday, May 8, 2024, after the close of trading on the New York Stock Exchange. Houlihan Lokey will host a conference call at 5:00 p.m. (ET) that same day to review the results. On the call, Scott Beiser, Chief Executive Officer, Scott Adelson, Co-President and Co-Head of Corporate Finance, and Lindsey Alley, Chief Financial Officer, will discuss the fiscal 2024 fourth quarter and full year results and provide commentary on business performance. A question and answer session with analysts and investors will follow the pre
– Third Quarter Fiscal 2024 Revenues of $511 million – – Third Quarter Fiscal 2024 Diluted EPS of $1.04 – – Adjusted Third Quarter Fiscal 2024 Diluted EPS of $1.22 – – Announces Dividend of $0.55 per Share for Fourth Quarter Fiscal 2024 – Houlihan Lokey, Inc. (NYSE:HLI) ("Houlihan Lokey" or the "Company") today reported financial results for its third quarter ended December 31, 2023. For the third quarter ended December 31, 2023, revenues were $511 million, compared with $456 million for the third quarter ended December 31, 2022. Net income was $71 million, or $1.04 per diluted share, for the third quarter ended December 31, 2023, compared with $63 million, or $0.90 per diluted share, f
Houlihan Lokey, Inc. (NYSE:HLI), the global investment bank, today announced that it will release its third quarter results for the 2024 fiscal year on Thursday, February 1, 2024, after the close of trading on the New York Stock Exchange. Houlihan Lokey will host a conference call at 5:00 p.m. (ET) that same day to review the results. On the call, Scott Beiser, Chief Executive Officer, and Lindsey Alley, Chief Financial Officer, will discuss the fiscal 2024 third quarter results and provide commentary on business performance. A question and answer session with analysts and investors will follow the prepared remarks. Access to the live conference call will be available via telephone or a
Carle Felton Joins as a Managing Director in Atlanta Houlihan Lokey, Inc. (NYSE:HLI), the global investment bank, announced today that Carle Felton has joined as a Managing Director in its Capital Markets Group. Mr. Felton is based in Atlanta and will further strengthen the firm's private capital financing capabilities for its global client base. "The extraordinary growth of alternative capital has opened up countless financing opportunities for our clients, but achieving superior outcomes with customized and often complex financing solutions requires both deep expertise and trusted relationships among capital providers. Carle is an outstanding advisor in these respects, and his experienc
Angela Hu Joins as a Managing Director in the Financial Sponsors Group Houlihan Lokey, Inc. (NYSE:HLI), the global investment bank, announced today that Angela Hu has joined the firm as a Managing Director in the Financial Sponsors Group, based in Hong Kong SAR. Ms. Hu brings more than 20 years of investment banking expertise, 16 of which have been spent in Hong Kong SAR, most recently leading financial sponsor coverage for Barclays in Greater China. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20250210393435/en/Angela Hu, Houlihan Lokey (Photo: Business Wire) "We are delighted to welcome Angela to the Houlihan Lokey team," sa
– Third Quarter Fiscal 2025 Revenues of $634 million – – Third Quarter Fiscal 2025 Diluted EPS of $1.39 – – Adjusted Third Quarter Fiscal 2025 Diluted EPS of $1.64 – – Announces Dividend of $0.57 per Share for Fourth Quarter Fiscal 2025 – Houlihan Lokey, Inc. (NYSE:HLI) ("Houlihan Lokey" or the "Company") today reported financial results for its third quarter ended December 31, 2024. For the third quarter ended December 31, 2024, revenues were $634 million, compared with $511 million for the third quarter ended December 31, 2023. Net income was $95 million, or $1.39 per diluted share, for the third quarter ended December 31, 2024, compared with $71 million, or $1.04 per diluted share, f
Bill Scheuerer Joins as a Managing Director in New York Houlihan Lokey, Inc. (NYSE:HLI), the global investment bank, announced today that Bill Scheuerer has joined as a Managing Director in its Capital Markets Group. Based in New York, Mr. Scheuerer will support the firm's private capital financing efforts across all industry verticals. Mr. Scheuerer joins following eight years at Lazard, where he most recently was a Managing Director in its Capital Solutions Group, focused on advising private-equity-owned, family-owned, and public companies on debt and equity financing transactions. Prior to Lazard, he was in the Debt Capital Markets Group at Cowen and Company. "We're excited to brin
Riccardo Cazzoli Joins Consumer Group as a Managing Director Houlihan Lokey, Inc. (NYSE:HLI), the global investment bank, announced today that Riccardo Cazzoli has joined the Consumer Group as a Managing Director, focused on the firm's consumer health efforts. He is based in New York. Mr. Cazzoli joins from Lincoln International, where he was a Managing Director and Head of Consumer Healthcare, responsible for M&A and financing transactions for clients in the OTC, VMS, medical nutrition, and personal care sectors. His prior experience also includes roles at Sawaya Partners, where he was a Managing Director in the Consumer Group with a focus on the health and wellness sector, and at Barc
Houlihan Lokey, Inc. (NYSE:HLI), the global investment bank, today announced that it will release its third quarter results for the 2025 fiscal year on Tuesday, January 28, 2025, after the close of trading on the New York Stock Exchange. Houlihan Lokey will host a conference call at 5:00 p.m. (ET) that same day to review the results. On the call, Scott Adelson, Chief Executive Officer, and Lindsey Alley, Chief Financial Officer, will discuss the fiscal 2025 third quarter results and provide commentary on business performance. A question and answer session with analysts and investors will follow the prepared remarks. Access to the live conference call will be available via telephone or a
Houlihan Lokey, Inc. (NYSE:HLI), the global investment bank, today announced that Scott Adelson, Chief Executive Officer, and Eric Siegert, Co-Chairman of Houlihan Lokey and Global Co-Head of the firm's Financial Restructuring Group, are scheduled to participate in a fireside chat at the Goldman Sachs 2024 US Financial Services Conference on Tuesday, December 10, 2024 at 1:40 p.m. EST. Access to a live webcast of the presentation in listen-only mode will be available through the "Investor Relations" section of the Company's website, www.hl.com. A replay of the webcast will also be archived on the Company's website. About Houlihan Lokey Houlihan Lokey (NYSE:HLI) is a global investment
Brad Boggess Joins as a Managing Director Houlihan Lokey, Inc. (NYSE:HLI), the global investment bank, announced today that Brad Boggess has joined as a Managing Director in its Capital Markets Group. Based in Atlanta, Mr. Boggess will leverage his deep finance and operational expertise as well as his senior-level relationships with countless private equity and private credit managers for the benefit of the firm. Mr. Boggess joins the firm after spending the past six years at Blackstone as Head of Asset Management for Blackstone Credit and Insurance. While there, he was responsible for driving operational improvement in the portfolio, overseeing the most challenged investments, and moni
Nana Kyei Joins Technology Group as a Managing Director Houlihan Lokey, Inc. (NYSE:HLI), the global investment bank, announced today that Nana Kyei has joined the firm's Technology Group as a Managing Director. Mr. Kyei is based in New York and will focus on education technology within the Software practice, partnering with the firm's Training & Education team to further enhance client service across the sector. Mr. Kyei joins after more than a decade at Jefferies, where he was most recently a Managing Director in its Technology Group, leading the company's education technology and tech-enabled services coverage efforts. Prior experience also includes roles at J.P. Morgan and Merrill Lync
Acquisition Bolsters Firm's Financial and Valuation Advisory Business With Advanced Machine Learning Capabilities Houlihan Lokey, Inc. (NYSE:HLI), the global investment bank, has acquired Prytania Solutions Ltd. (PSL), a leading provider of technology-driven valuation and analytic services, as it continues to strengthen its market-leading Financial and Valuation Advisory business and offer clients a differentiated experience using data-driven deliverables. The acquisition connects PSL's advanced machine learning technology and market-leading tools with Houlihan Lokey's structured products valuation clients, further enhancing the capabilities and global reach of Houlihan Lokey's Portfolio
SC 13D/A - HOULIHAN LOKEY, INC. (0001302215) (Subject)
SC 13D/A - HOULIHAN LOKEY, INC. (0001302215) (Subject)
SC 13D/A - HOULIHAN LOKEY, INC. (0001302215) (Subject)
SC 13G/A - HOULIHAN LOKEY, INC. (0001302215) (Subject)
SC 13G/A - HOULIHAN LOKEY, INC. (0001302215) (Subject)
SC 13G/A - HOULIHAN LOKEY, INC. (0001302215) (Subject)
SC 13G/A - HOULIHAN LOKEY, INC. (0001302215) (Subject)
SC 13D/A - HOULIHAN LOKEY, INC. (0001302215) (Subject)
SC 13D/A - HOULIHAN LOKEY, INC. (0001302215) (Subject)
SC 13G/A - HOULIHAN LOKEY, INC. (0001302215) (Subject)
Morgan Stanley downgraded Houlihan Lokey from Equal-Weight to Underweight and set a new price target of $200.00 from $171.00 previously
Wells Fargo initiated coverage of Houlihan Lokey with a rating of Underweight and set a new price target of $149.00
Keefe Bruyette resumed coverage of Houlihan Lokey with a rating of Mkt Perform
Morgan Stanley upgraded Houlihan Lokey from Underweight to Equal-Weight and set a new price target of $82.00 from $95.00 previously
Piper Sandler downgraded Houlihan Lokey from Neutral to Underweight and set a new price target of $76.00 from $92.00 previously
Piper Sandler reiterated coverage of Houlihan Lokey with a rating of Neutral and set a new price target of $106.00 from $122.00 previously
Morgan Stanley reiterated coverage of Houlihan Lokey with a rating of Underweight and set a new price target of $97.00 from $106.00 previously
Morgan Stanley reiterated coverage of Houlihan Lokey with a rating of Underweight and set a new price target of $106.00 from $101.00 previously
Morgan Stanley reiterated coverage of Houlihan Lokey with a rating of Underweight and set a new price target of $101.00 from $97.00 previously
Goldman Sachs upgraded Houlihan Lokey from Neutral to Buy and set a new price target of $126.00 from $116.00 previously
Angela Hu Joins as a Managing Director in the Financial Sponsors Group Houlihan Lokey, Inc. (NYSE:HLI), the global investment bank, announced today that Angela Hu has joined the firm as a Managing Director in the Financial Sponsors Group, based in Hong Kong SAR. Ms. Hu brings more than 20 years of investment banking expertise, 16 of which have been spent in Hong Kong SAR, most recently leading financial sponsor coverage for Barclays in Greater China. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20250210393435/en/Angela Hu, Houlihan Lokey (Photo: Business Wire) "We are delighted to welcome Angela to the Houlihan Lokey team," sa
Riccardo Cazzoli Joins Consumer Group as a Managing Director Houlihan Lokey, Inc. (NYSE:HLI), the global investment bank, announced today that Riccardo Cazzoli has joined the Consumer Group as a Managing Director, focused on the firm's consumer health efforts. He is based in New York. Mr. Cazzoli joins from Lincoln International, where he was a Managing Director and Head of Consumer Healthcare, responsible for M&A and financing transactions for clients in the OTC, VMS, medical nutrition, and personal care sectors. His prior experience also includes roles at Sawaya Partners, where he was a Managing Director in the Consumer Group with a focus on the health and wellness sector, and at Barc
Nana Kyei Joins Technology Group as a Managing Director Houlihan Lokey, Inc. (NYSE:HLI), the global investment bank, announced today that Nana Kyei has joined the firm's Technology Group as a Managing Director. Mr. Kyei is based in New York and will focus on education technology within the Software practice, partnering with the firm's Training & Education team to further enhance client service across the sector. Mr. Kyei joins after more than a decade at Jefferies, where he was most recently a Managing Director in its Technology Group, leading the company's education technology and tech-enabled services coverage efforts. Prior experience also includes roles at J.P. Morgan and Merrill Lync
Acquisition Bolsters Firm's Financial and Valuation Advisory Business With Advanced Machine Learning Capabilities Houlihan Lokey, Inc. (NYSE:HLI), the global investment bank, has acquired Prytania Solutions Ltd. (PSL), a leading provider of technology-driven valuation and analytic services, as it continues to strengthen its market-leading Financial and Valuation Advisory business and offer clients a differentiated experience using data-driven deliverables. The acquisition connects PSL's advanced machine learning technology and market-leading tools with Houlihan Lokey's structured products valuation clients, further enhancing the capabilities and global reach of Houlihan Lokey's Portfolio
Andrew Atherton Joins FinTech Group as a Managing Director Houlihan Lokey, Inc. (NYSE:HLI), the global investment bank, announced today that Andrew Atherton has joined the firm's FinTech Group as a Managing Director. Mr. Atherton is based in San Francisco and will cover multiple FinTech sectors as well as FinTech-adjacent enterprise software companies, working closely with his colleagues in both the FinTech and Technology groups to ensure seamless coverage across the firm's client base. Alec Ellison, Global Head of FinTech at Houlihan Lokey, said, "We are absolutely delighted to have Andrew join our leading FinTech Group and add to our coverage capabilities in this dynamic sector. His d
Ryan Lund Joins as Co-Head of U.S. Technology and Global Co-Head of Software; Vikram Kaushik and Ted Sullivan Join to Further Bolster Software Team Houlihan Lokey (NYSE:HLI), the global investment bank, announced today that Ryan Lund has joined the firm's global Technology Group as a Managing Director. Mr. Lund has been appointed Co-Head of U.S. Technology alongside John Lambros and Jason Hill and Global Co-Head of Software with Sascha Pfeiffer. He is based in Miami. Mr. Lund joins from UBS, where he was a Managing Director and Global Head of Software Investment Banking. Prior to UBS, Mr. Lund was Global Head of Software for RBC Capital Markets and spent more than 20 years at Raymond Ja
Team of Four Managing Directors, Led by Industry Veteran Tom Donovan, Join From Greenhill & Co. to Drive U.S. Primary Practice Houlihan Lokey, Inc. (NYSE:HLI), the global investment bank, today announced an additional expansion of its Private Funds Group (PFG) with the appointment of a team of four managing directors from Greenhill & Co. to significantly strengthen its U.S. Primary practice. The additions establish Houlihan Lokey as one of the only investment banks in the industry with a single integrated team focused on primary capital raising, secondary capital advisory, direct equity fundraising, and GP stakes advisory. These hires follow the announcement in December 2023 of the acqu
Starboard Value LP (together with its affiliates, "Starboard" or "we") is the largest shareholder of Algonquin Power & Utilities Corp. (NYSE:AQN) (TSE: AQN) ("Algonquin" or the "Company") with an ownership stake of approximately 9.0%. Today, Starboard announced that it has nominated three highly qualified candidates (the "Starboard Nominees") for election to the Company's Board of Directors (the "Board") at the 2024 Annual General Meeting of Shareholders (the "Annual Meeting"), which has been scheduled for June 4, 2024. The Starboard Nominees are Brett Carter, Chris Lopez and Rob Schriesheim. In connection with its nominations, Starboard sent the below letter to the members of the Board.
Experienced Technology Leader and Entrepreneur to Assist Firm's Technology Clients in Brazil Houlihan Lokey, Inc. (NYSE:HLI), the global investment bank, announced today that Rafael Pereira has been appointed as a Senior Advisor to assist the firm with its expansion in Brazil. Mr. Pereira has more than two decades of experience as a tech entrepreneur and executive, building and growing technology-based businesses from spearheading startups to publicly listed companies. Mr. Pereira co-founded Open Co, Brazil's leading consumer financing FinTech that democratizes access to affordable credit products to families and small businesses across the country through cutting-edge technologies, r
NEW YORK, Dec. 1, 2023 /PRNewswire/ -- S&P Dow Jones Indices ("S&P DJI") will make the following changes to the S&P 500, S&P MidCap 400, and S&P SmallCap 600 indices effective prior to the open of trading on Monday, December 18, to coincide with the quarterly rebalance. The changes ensure each index is more representative of its market capitalization range. All companies being added to the S&P 500 are more representative of the large-cap market space, all companies being added to the S&P MidCap 400 are more representative of the mid-cap market space, and all companies being added to the S&P SmallCap 600 are more representative of the small-cap market space. The companies being removed from t