Zacks Investment Research lowered shares of Hamilton Lane Inc. (NASDAQ:HLNE) from a buy rating to a hold rating in a research note released on Tuesday.
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 reaffirmed an overweight rating and set a $23.00 price objective (down from $24.00) on shares of Hamilton Lane in a research report on Monday, July 10th. Four investment analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. Hamilton Lane currently has a consensus rating of Hold and a consensus price target of $22.20.
Hamilton Lane (NASDAQ HLNE) opened at 23.04 on Tuesday. Hamilton Lane has a 52-week low of $17.74 and a 52-week high of $23.07. The firm has a market cap of $443.87 million and a price-to-earnings ratio of 73.14. The company has a 50 day moving average price of $22.80 and a 200-day moving average price of $19.44.
Hamilton Lane (NASDAQ:HLNE) last posted its earnings results on Tuesday, August 8th. The company reported $0.33 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.26 by $0.07. The business had revenue of $52.70 million during the quarter, compared to analyst estimates of $50.69 million. During the same period in the previous year, the firm posted $0.30 earnings per share. The firm’s revenue 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 year.
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The business also recently announced a quarterly dividend, which will be paid on Monday, October 2nd. Investors of record on Friday, September 15th will be issued a dividend of $0.175 per share. The ex-dividend date is Thursday, September 14th. This represents a $0.70 annualized dividend and a yield of 3.04%.
A number of institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Nationwide Fund Advisors raised its holdings in Hamilton Lane by 84.5% during the second quarter. Nationwide Fund Advisors now owns 8,099 shares of the company’s stock worth $178,000 after acquiring an additional 3,710 shares in the last quarter. Henderson Group PLC bought a new stake in Hamilton Lane during the first quarter worth about $117,000. Wells Fargo & Company MN bought a new stake in Hamilton Lane during the first quarter worth about $131,000. SG Americas Securities LLC bought a new stake in Hamilton Lane during the first quarter worth about $194,000. Finally, Royce & Associates LP raised its holdings in Hamilton Lane by 7.1% during the second quarter. Royce & Associates LP now owns 161,716 shares of the company’s stock worth $3,556,000 after acquiring an additional 10,788 shares in the last quarter. Institutional investors and hedge funds own 66.67% 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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