Hamilton Lane (NASDAQ:HLNE) Price Target Raised to $60.00 at Wells Fargo & Co

Hamilton Lane (NASDAQ:HLNE) had its price objective boosted by Wells Fargo & Co from $58.00 to $60.00 in a report released on Thursday, BenzingaRatingsTable reports. The brokerage currently has a market perform rating on the stock.

Several other research firms also recently commented on HLNE. Zacks Investment Research downgraded shares of Hamilton Lane from a hold rating to a sell rating in a report on Tuesday, August 20th. Oppenheimer began coverage on shares of Hamilton Lane in a report on Tuesday, June 25th. They set a market perform rating on the stock. They noted that the move was a valuation call. Keefe, Bruyette & Woods lowered shares of Hamilton Lane from a market perform rating to an underperform rating and lifted their price target for the stock from $49.00 to $53.00 in a report on Thursday, July 11th. They noted that the move was a valuation call. CIBC began coverage on shares of Hamilton Lane in a research note on Tuesday, June 25th. They set a market perform rating for the company. Finally, Morgan Stanley boosted their target price on shares of Hamilton Lane from $56.00 to $60.00 and gave the company an overweight rating in a research report on Friday, May 31st. Two research analysts have rated the stock with a sell rating, five have assigned a hold rating and two have assigned a buy rating to the stock. Hamilton Lane currently has a consensus rating of Hold and an average target price of $52.80.

HLNE stock traded up $0.86 during midday trading on Thursday, hitting $60.49. The company’s stock had a trading volume of 344,991 shares, compared to its average volume of 150,799. The firm’s 50-day moving average is $58.63 and its 200-day moving average is $52.30. The company has a market cap of $2.93 billion, a PE ratio of 31.69, a P/E/G ratio of 1.87 and a beta of 0.99. The company has a current ratio of 2.35, a quick ratio of 2.35 and a debt-to-equity ratio of 0.46. Hamilton Lane has a 12 month low of $31.81 and a 12 month high of $64.64.

Hamilton Lane (NASDAQ:HLNE) last posted its quarterly earnings data on Tuesday, August 6th. The company reported $0.45 EPS for the quarter, missing the consensus estimate of $0.50 by ($0.05). Hamilton Lane had a return on equity of 61.94% and a net margin of 14.24%. The company had revenue of $65.00 million during the quarter, compared to analysts’ expectations of $71.21 million. During the same quarter last year, the company earned $0.38 earnings per share. The company’s revenue for the quarter was up 2.6% on a year-over-year basis. Analysts expect that Hamilton Lane will post 2.05 earnings per share for the current year.

The company also recently disclosed a quarterly dividend, which will be paid on Friday, October 4th. Shareholders of record on Monday, September 16th will be given a $0.275 dividend. This represents a $1.10 dividend on an annualized basis and a dividend yield of 1.82%. The ex-dividend date of this dividend is Friday, September 13th. Hamilton Lane’s dividend payout ratio is presently 57.59%.

Several hedge funds and other institutional investors have recently bought and sold shares of HLNE. Marshall Wace LLP acquired a new stake in shares of Hamilton Lane in the first quarter valued at about $970,000. OppenheimerFunds Inc. grew its holdings in Hamilton Lane by 12.4% in the first quarter. OppenheimerFunds Inc. now owns 605,973 shares of the company’s stock valued at $26,409,000 after purchasing an additional 66,823 shares during the period. Rhumbline Advisers grew its holdings in Hamilton Lane by 4.5% in the first quarter. Rhumbline Advisers now owns 21,280 shares of the company’s stock valued at $927,000 after purchasing an additional 908 shares during the period. Foresters Investment Management Company Inc. lifted its position in Hamilton Lane by 47.3% during the second quarter. Foresters Investment Management Company Inc. now owns 272,900 shares of the company’s stock valued at $15,572,000 after buying an additional 87,650 shares in the last quarter. Finally, First Trust Advisors LP lifted its position in shares of Hamilton Lane by 117.5% during the second quarter. First Trust Advisors LP now owns 64,636 shares of the company’s stock worth $3,688,000 after purchasing an additional 34,917 shares in the last quarter. 47.68% of the stock is currently owned by hedge funds and other institutional investors.

About Hamilton Lane

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.

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