Hamilton Lane (NASDAQ:HLNE) Upgraded to “Buy” at BidaskClub

BidaskClub upgraded shares of Hamilton Lane (NASDAQ:HLNE) from a hold rating to a buy rating in a report published on Wednesday, BidAskClub reports.

HLNE has been the subject of several other reports. Keefe, Bruyette & Woods downgraded Hamilton Lane from a market perform rating to an underperform rating and increased their price objective for the company from $49.00 to $53.00 in a report on Thursday, July 11th. They noted that the move was a valuation call. Oppenheimer started coverage on Hamilton Lane in a report on Tuesday, June 25th. They issued a market perform rating for the company. They noted that the move was a valuation call. Wells Fargo & Co increased their price objective on Hamilton Lane from $58.00 to $60.00 and gave the company a market perform rating in a report on Thursday, September 12th. CIBC started coverage on Hamilton Lane in a report on Tuesday, June 25th. They issued a market perform rating for the company. Finally, ValuEngine downgraded Hamilton Lane from a hold rating to a sell rating in a report on Wednesday, October 2nd. Three equities research analysts have rated the stock with a sell rating, four have given a hold rating and three have assigned a buy rating to the company’s stock. The company currently has a consensus rating of Hold and an average price target of $52.80.

Hamilton Lane stock traded down $0.07 during mid-day trading on Wednesday, hitting $58.64. The company had a trading volume of 66,500 shares, compared to its average volume of 152,106. The stock has a market cap of $3.01 billion, a price-to-earnings ratio of 30.69, a PEG ratio of 1.94 and a beta of 0.96. Hamilton Lane has a 1 year low of $31.81 and a 1 year high of $64.64. The company has a quick ratio of 2.35, a current ratio of 2.35 and a debt-to-equity ratio of 0.46. The business has a fifty day moving average of $58.75 and a 200 day moving average of $55.07.

Hamilton Lane (NASDAQ:HLNE) last posted its quarterly earnings data on Tuesday, August 6th. The company reported $0.45 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.50 by ($0.05). The firm had revenue of $65.00 million during the quarter, compared to analyst estimates of $71.21 million. Hamilton Lane had a net margin of 14.24% and a return on equity of 61.94%. Hamilton Lane’s revenue was up 2.6% compared to the same quarter last year. During the same period in the previous year, the company posted $0.38 earnings per share. Equities analysts anticipate that Hamilton Lane will post 2.04 earnings per share for the current year.

The company also recently disclosed a quarterly dividend, which was paid on Friday, October 4th. Stockholders of record on Monday, September 16th were issued a $0.275 dividend. This represents a $1.10 annualized dividend and a dividend yield of 1.88%. The ex-dividend date was Friday, September 13th. Hamilton Lane’s payout ratio is currently 57.59%.

In other news, major shareholder Hartley R. Rogers sold 78,456 shares of the stock in a transaction that occurred on Thursday, September 12th. The stock was sold at an average price of $60.01, for a total value of $4,708,144.56. 43.91% of the stock is currently owned by corporate insiders.

Several hedge funds have recently bought and sold shares of HLNE. Advisor Group Inc. lifted its holdings in shares of Hamilton Lane by 578.4% during the second quarter. Advisor Group Inc. now owns 1,133 shares of the company’s stock worth $65,000 after purchasing an additional 966 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank acquired a new stake in shares of Hamilton Lane during the second quarter worth $78,000. Bank of Montreal Can acquired a new stake in shares of Hamilton Lane during the second quarter worth $110,000. SG Americas Securities LLC lifted its holdings in shares of Hamilton Lane by 29.9% during the second quarter. SG Americas Securities LLC now owns 3,264 shares of the company’s stock worth $186,000 after purchasing an additional 752 shares during the period. Finally, GSA Capital Partners LLP acquired a new stake in shares of Hamilton Lane during the second quarter worth $229,000. 46.49% of the stock is owned by institutional investors and hedge funds.

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: Understanding the different types of bonds

Analyst Recommendations for Hamilton Lane (NASDAQ:HLNE)

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.