Hamilton Lane Inc. (NASDAQ:HLNE) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research note issued on Saturday. The brokerage currently has a $26.00 target price on the stock. Zacks Investment Research‘s price objective indicates a potential upside of 15.30% from the stock’s current price.
According to Zacks, “Hamilton Lane is an affiliate of Hamilton Lane Advisors, L.L.C. is an investment management firm which provide private market solutions. It operates primarily in U.S., Europe, Asia, Latin America and the Middle East. Hamilton Lane is based in Bala Cynwyd, United States. “
Separately, Morgan Stanley restated an “overweight” rating and set a $23.00 target price (down from $24.00) on shares of Hamilton Lane in a research note on Monday, July 10th. Three research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. The company currently has a consensus rating of “Buy” and an average price target of $22.20.
Hamilton Lane (HLNE) opened at 22.55 on Friday. The company has a market cap of $434.43 million and a P/E ratio of 71.59. The company’s 50 day moving average price is $22.63 and its 200 day moving average price is $20.65. Hamilton Lane has a 52-week low of $17.32 and a 52-week high of $24.00.
Hamilton Lane (NASDAQ:HLNE) last released its earnings results on Tuesday, August 8th. The company reported $0.33 earnings per share for the quarter, topping the consensus estimate of $0.26 by $0.07. The business had revenue of $52.70 million for the quarter, compared to the consensus estimate of $50.69 million. During the same quarter in the previous year, the company earned $0.30 earnings per share. The firm’s revenue for the quarter was up 33.2% on a year-over-year basis. Equities research analysts anticipate that Hamilton Lane will post $1.08 EPS for the current fiscal year.
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Several institutional investors and hedge funds have recently made changes to their positions in the company. TimesSquare Capital Management LLC lifted its stake in shares of Hamilton Lane by 15.7% in the 2nd quarter. TimesSquare Capital Management LLC now owns 1,534,585 shares of the company’s stock valued at $33,746,000 after acquiring an additional 208,240 shares during the last quarter. TPG Group Holdings SBS Advisors Inc. lifted its stake in shares of Hamilton Lane by 7.6% in the 2nd quarter. TPG Group Holdings SBS Advisors Inc. now owns 1,229,600 shares of the company’s stock valued at $27,039,000 after acquiring an additional 86,659 shares during the last quarter. Alliancebernstein L.P. lifted its stake in shares of Hamilton Lane by 3.2% in the 2nd quarter. Alliancebernstein L.P. now owns 670,861 shares of the company’s stock valued at $14,752,000 after acquiring an additional 20,546 shares during the last quarter. Massachusetts Financial Services Co. MA bought a new position in shares of Hamilton Lane in the 1st quarter valued at $9,153,000. Finally, Wellington Management Group LLP bought a new position in shares of Hamilton Lane in the 1st quarter valued at $7,615,000. Institutional investors own 66.67% of the company’s stock.
Hamilton Lane Company Profile
Hamilton Lane Incorporated is a global private markets investment solutions provider. The Company works with its clients to conceive, structure, build out, manage and monitor portfolios of private markets funds and direct investments, and it helps them access a set of such investment opportunities around the world.
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