Hamilton Lane (HLNE) Rating Increased to Hold at Zacks Investment Research

Hamilton Lane (NASDAQ:HLNE) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a report released on Thursday.

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. “

HLNE has been the topic of several other reports. ValuEngine lowered shares of Hamilton Lane from a “buy” rating to a “hold” rating in a research note on Tuesday, October 2nd. Morgan Stanley cut their target price on shares of Hamilton Lane from $49.00 to $48.00 and set a “hold” rating on the stock in a research note on Tuesday, October 9th. Finally, JPMorgan Chase & Co. lowered shares of Hamilton Lane from an “overweight” rating to a “neutral” rating and cut their target price for the stock from $48.00 to $38.00 in a research note on Thursday, November 1st.

Shares of NASDAQ HLNE opened at $37.79 on Thursday. The firm has a market cap of $1.89 billion, a P/E ratio of 23.04, a P/E/G ratio of 1.54 and a beta of 1.60. Hamilton Lane has a 12-month low of $30.52 and a 12-month high of $54.59. The company has a debt-to-equity ratio of 0.58, a quick ratio of 2.19 and a current ratio of 2.19.

Hamilton Lane (NASDAQ:HLNE) last issued its earnings results on Tuesday, November 6th. The company reported $0.55 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.43 by $0.12. The business had revenue of $55.83 million for the quarter, compared to analyst estimates of $65.90 million. Hamilton Lane had a net margin of 10.41% and a return on equity of 72.00%. Hamilton Lane’s revenue was up 14.6% on a year-over-year basis. During the same period in the prior year, the firm earned $0.27 earnings per share. Equities research analysts predict that Hamilton Lane will post 1.73 earnings per share for the current fiscal year.

In other Hamilton Lane news, Chairman Hartley R. Rogers sold 28,087 shares of the firm’s stock in a transaction on Monday, September 17th. The shares were sold at an average price of $47.26, for a total value of $1,327,391.62. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, major shareholder Oakville Number 2 Trust sold 100,000 shares of the firm’s stock in a transaction on Monday, September 17th. The shares were sold at an average price of $47.26, for a total transaction of $4,726,000.00. The disclosure for this sale can be found here. 53.71% of the stock is currently owned by company insiders.

Several institutional investors have recently added to or reduced their stakes in HLNE. FMR LLC lifted its stake in shares of Hamilton Lane by 366.3% in the second quarter. FMR LLC now owns 2,134,043 shares of the company’s stock valued at $102,370,000 after buying an additional 1,676,343 shares in the last quarter. Renaissance Technologies LLC lifted its stake in shares of Hamilton Lane by 60.4% in the second quarter. Renaissance Technologies LLC now owns 794,400 shares of the company’s stock valued at $38,107,000 after buying an additional 299,000 shares in the last quarter. BlackRock Inc. lifted its stake in shares of Hamilton Lane by 32.4% in the first quarter. BlackRock Inc. now owns 1,012,796 shares of the company’s stock valued at $37,706,000 after buying an additional 247,614 shares in the last quarter. Dimensional Fund Advisors LP bought a new position in shares of Hamilton Lane in the second quarter valued at $7,010,000. Finally, Alliancebernstein L.P. lifted its stake in shares of Hamilton Lane by 11.3% in the third quarter. Alliancebernstein L.P. now owns 964,454 shares of the company’s stock valued at $42,706,000 after buying an additional 98,163 shares in the last quarter. 38.41% of the stock is currently owned by hedge funds and other institutional investors.

Hamilton Lane Company Profile

Hamilton Lane Incorporated is an investment firm specializing in direct and fund of fund investments. It provides following services: separate accounts (customized to each individual client and structured as single client vehicles); specialized strategies (fund-of-funds, secondaries, co-investments, taft-hartley, distribution management); advisory relationships (including due diligence, strategic portfolio planning, monitoring and reporting services); and reporting and analytics solutions.

Featured Story: What is Considered a Good Return on Equity (ROE)?

Get a free copy of the Zacks research report on Hamilton Lane (HLNE)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Receive News & Ratings for Hamilton Lane Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Hamilton Lane and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply