Hamilton Lane (HLNE) Downgraded by JPMorgan Chase & Co.

JPMorgan Chase & Co. cut shares of Hamilton Lane (NASDAQ:HLNE) from an overweight rating to a neutral rating in a research note released on Thursday, Marketbeat reports. The firm currently has $38.00 price objective on the stock, down from their previous price objective of $48.00.

HLNE has been the topic of several other research reports. Zacks Investment Research downgraded shares of Hamilton Lane from a hold rating to a sell rating in a research report on Thursday, October 11th. ValuEngine downgraded shares of Hamilton Lane from a buy rating to a hold rating in a research report on Tuesday, October 2nd. Finally, Morgan Stanley reduced their price target on shares of Hamilton Lane from $49.00 to $48.00 and set a hold rating on the stock in a research report on Tuesday, October 9th.

NASDAQ HLNE traded up $2.37 on Thursday, hitting $35.41. 905,415 shares of the company were exchanged, compared to its average volume of 265,537. The company has a market cap of $1.73 billion, a price-to-earnings ratio of 20.95, a price-to-earnings-growth ratio of 1.43 and a beta of 1.60. The company has a quick ratio of 2.19, a current ratio of 2.19 and a debt-to-equity ratio of 0.58. Hamilton Lane has a 1-year low of $26.60 and a 1-year high of $54.59.

Hamilton Lane (NASDAQ:HLNE) last issued its quarterly earnings results on Tuesday, August 7th. The company reported $0.38 earnings per share (EPS) for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.38. The business had revenue of $63.36 million for the quarter, compared to the consensus estimate of $57.15 million. Hamilton Lane had a net margin of 8.14% and a return on equity of 63.94%. On average, equities analysts expect that Hamilton Lane will post 1.65 earnings per share for the current year.

In other Hamilton Lane news, Chairman Hartley R. Rogers sold 28,087 shares of the business’s stock in a transaction dated Monday, September 17th. The stock was sold at an average price of $47.26, for a total transaction of $1,327,391.62. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, major shareholder Oakville Number 2 Trust sold 100,000 shares of the business’s stock in a transaction dated Monday, September 17th. The stock was sold at an average price of $47.26, for a total value of $4,726,000.00. The disclosure for this sale can be found here. Insiders own 53.71% of the company’s stock.

A number of large investors have recently made changes to their positions in the business. Oppenheimer Asset Management Inc. raised its holdings in Hamilton Lane by 19.9% during the 3rd quarter. Oppenheimer Asset Management Inc. now owns 10,123 shares of the company’s stock worth $448,000 after purchasing an additional 1,677 shares during the last quarter. Rhumbline Advisers raised its holdings in Hamilton Lane by 19.9% during the 2nd quarter. Rhumbline Advisers now owns 14,467 shares of the company’s stock worth $694,000 after purchasing an additional 2,402 shares during the last quarter. Meeder Asset Management Inc. bought a new stake in Hamilton Lane during the 2nd quarter worth about $127,000. Northern Trust Corp raised its holdings in Hamilton Lane by 2.2% during the 1st quarter. Northern Trust Corp now owns 152,675 shares of the company’s stock worth $5,684,000 after purchasing an additional 3,237 shares during the last quarter. Finally, Massachusetts Financial Services Co. MA raised its holdings in Hamilton Lane by 1.4% during the 2nd quarter. Massachusetts Financial Services Co. MA now owns 250,744 shares of the company’s stock worth $12,028,000 after purchasing an additional 3,486 shares during the last quarter. 38.44% of the stock is 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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