Hamilton Lane (NASDAQ:HLNE) Stock Bumped Down to Hold by Zacks Research

Zacks Research downgraded shares of Hamilton Lane (NASDAQ:HLNE) from a strong-buy rating to a hold rating in a research note issued to investors on Monday morning,Zacks reports.

HLNE has been the topic of several other reports. Morgan Stanley set a $118.00 price objective on Hamilton Lane in a report on Friday. BMO Capital Markets set a $94.00 target price on Hamilton Lane in a research report on Monday, July 13th. Wells Fargo & Company began coverage on shares of Hamilton Lane in a report on Friday, October 2nd. They issued an “overweight” rating and a $103.00 target price for the company. The Goldman Sachs Group reissued a “buy” rating and issued a $117.00 target price on shares of Hamilton Lane in a report on Friday, October 2nd. Finally, UBS Group reduced their price target on shares of Hamilton Lane from $131.00 to $115.00 and set a “buy” rating on the stock in a research report on Tuesday, October 13th. Seven research analysts have rated the stock with a Buy rating and three have given a Hold rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $124.00.

Hamilton Lane Price Performance

NASDAQ:HLNE opened at $83.70 on Monday. The company has a current ratio of 3.49, a quick ratio of 3.49 and a debt-to-equity ratio of 0.16. The company has a market capitalization of $4.65 billion, a P/E ratio of 12.76 and a beta of 1.23. Hamilton Lane has a 12 month low of $71.88 and a 12 month high of $155.66. The business’s 50-day moving average is $94.25 and its 200 day moving average is $90.38.

Hamilton Lane (NASDAQ:HLNE) last announced its quarterly earnings results on Tuesday, August 4th. The company reported $1.94 EPS for the quarter, beating analysts’ consensus estimates of $1.53 by $0.41. The company had revenue of $275.33 million during the quarter, compared to analyst estimates of $221.94 million. Hamilton Lane had a return on equity of 25.10% and a net margin of 32.14%. The firm’s revenue was up 56.5% on a year-over-year basis. During the same period in the prior year, the company earned $1.47 earnings per share. On average, equities research analysts forecast that Hamilton Lane will post 7.54 earnings per share for the current fiscal year.

Hamilton Lane Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, October 6th. Shareholders of record on Monday, September 21st were paid a dividend of $0.60 per share. This represents a $2.40 annualized dividend and a yield of 2.9%. The ex-dividend date of this dividend was Monday, September 21st. Hamilton Lane’s payout ratio is presently 36.59%.

Institutional Investors Weigh In On Hamilton Lane

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in HLNE. Nisa Investment Advisors LLC lifted its stake in shares of Hamilton Lane by 33.2% in the 3rd quarter. Nisa Investment Advisors LLC now owns 1,308 shares of the company’s stock valued at $114,000 after purchasing an additional 326 shares during the last quarter. State of Alaska Department of Revenue increased its position in shares of Hamilton Lane by 35.0% during the 3rd quarter. State of Alaska Department of Revenue now owns 5,407 shares of the company’s stock valued at $468,000 after purchasing an additional 1,403 shares during the last quarter. Fort Washington Investment Advisors Inc. OH bought a new position in shares of Hamilton Lane during the 3rd quarter valued at approximately $27,027,000. Fortitude Family Office LLC bought a new position in shares of Hamilton Lane during the 3rd quarter valued at approximately $51,000. Finally, Copeland Capital Management LLC raised its holdings in Hamilton Lane by 52.5% during the 3rd quarter. Copeland Capital Management LLC now owns 741,678 shares of the company’s stock valued at $64,422,000 after buying an additional 255,238 shares during the period. 97.40% of the stock is currently owned by hedge funds and other institutional investors.

About Hamilton Lane

Hamilton Lane Incorporated (NASDAQ: HLNE) is a global investment management firm specializing in private markets. The company provides investment solutions and advisory services focused on alternative assets, including private equity, private credit, venture capital, growth equity, infrastructure and real assets.

Hamilton Lane serves institutional investors, family offices, financial advisors and high-net-worth individuals. Its offerings include separately managed accounts, customized portfolios, commingled funds, evergreen vehicles and secondary-market strategies.