Group 1 - Houlihan Lokey (NYSE: HLI) operates in the US-listed independent advisor space, which is characterized by a strong focus on mergers and acquisitions (M&A) [1] - The company's business model is divided into three segments: corporate finance (including M&A advisory and capital markets), financial restructuring (covering bankruptcy filings and liability management), and financial & valuation [1]

Core Viewpoint - Moelis & Company (NYSE: MC) stock has experienced a significant rebound, although it has not fully matched the performance of other U.S.-listed independent advisors since the previous analysis [1]. Group 1 - The stock of Moelis & Company has been on a positive trend following a prior selloff [1].