Hamilton Lane Inc. (HLNE) Upgraded to “Hold” at Zacks Investment Research
Hamilton Lane Inc. (NASDAQ:HLNE) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a research note issued to investors 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 subject of several other reports. Keefe, Bruyette & Woods restated a “hold” rating and set a $21.00 target price on shares of Hamilton Lane in a research report on Friday, April 28th. Morgan Stanley restated an “overweight” rating and set a $23.00 target price (up from $21.00) on shares of Hamilton Lane in a research report on Friday, June 16th. Four equities research analysts have rated the stock with a hold rating and two have given a buy rating to the company. The stock has a consensus rating of “Hold” and an average price target of $21.80.
Shares of Hamilton Lane (NASDAQ HLNE) traded down 0.67% during mid-day trading on Thursday, hitting $22.33. The company had a trading volume of 125,918 shares. The company’s 50-day moving average is $22.15 and its 200 day moving average is $20.24. The company has a market capitalization of $401.52 million and a PE ratio of 66.07. Hamilton Lane has a one year low of $17.32 and a one year high of $24.00.
Hamilton Lane (NASDAQ:HLNE) last announced its quarterly earnings results on Tuesday, August 8th. The company reported $0.33 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.26 by $0.07. The company had revenue of $52.70 million during the quarter, compared to analysts’ expectations of $50.69 million. Hamilton Lane’s revenue for the quarter was up 33.2% compared to the same quarter last year. During the same quarter last year, the firm posted $0.30 earnings per share. On average, equities research analysts forecast that Hamilton Lane will post $1.07 EPS for the current fiscal year.
A number of institutional investors have recently bought and sold shares of HLNE. Emerald Advisers Inc. PA acquired a new position in Hamilton Lane during the first quarter valued at approximately $388,000. Emerald Mutual Fund Advisers Trust acquired a new position in Hamilton Lane during the first quarter valued at approximately $4,449,000. Henderson Group PLC acquired a new position in Hamilton Lane during the first quarter valued at approximately $117,000. Point72 Asia Hong Kong Ltd acquired a new position in Hamilton Lane during the first quarter valued at approximately $202,000. Finally, Wells Fargo & Company MN acquired a new position in Hamilton Lane during the first quarter valued at approximately $131,000. Institutional investors and hedge funds own 61.74% of the company’s stock.
About Hamilton Lane
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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