Hamilton Lane (NASDAQ:HLNE) Upgraded by JPMorgan Chase & Co. to Overweight

JPMorgan Chase & Co. upgraded shares of Hamilton Lane (NASDAQ:HLNE – Get Rating) from a neutral rating to an overweight rating in a report released on Wednesday morning, Marketbeat Ratings reports. They currently have $85.00 price objective on the stock.

Several other brokerages have also recently commented on HLNE. Morgan Stanley boosted their target price on Hamilton Lane from $72.00 to $78.00 and gave the stock an equal weight rating in a report on Thursday, February 9th. The Goldman Sachs Group upped their price target on Hamilton Lane from $70.00 to $80.00 and gave the company a neutral rating in a report on Thursday, February 9th. Finally, Wells Fargo & Company upped their price target on Hamilton Lane from $69.00 to $75.00 and gave the company an equal weight rating in a report on Wednesday, February 8th. Four equities research analysts have rated the stock with a hold rating and one has given a buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of Hold and an average price target of $77.20.

Hamilton Lane Stock Performance

Shares of NASDAQ HLNE opened at $68.86 on Wednesday. The company has a current ratio of 2.16, a quick ratio of 2.16 and a debt-to-equity ratio of 0.38. The stock has a 50 day simple moving average of $75.24 and a 200-day simple moving average of $69.75. The company has a market cap of $3.71 billion, a PE ratio of 26.69 and a beta of 1.07. Hamilton Lane has a 12-month low of $55.81 and a 12-month high of $81.23.

Hamilton Lane (NASDAQ:HLNE – Get Rating) last issued its quarterly earnings data on Tuesday, February 7th. The company reported $0.43 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.82 by ($0.39). Hamilton Lane had a return on equity of 37.41% and a net margin of 20.14%. The business had revenue of $127.07 million for the quarter, compared to analyst estimates of $120.66 million. During the same quarter in the prior year, the firm posted $1.27 earnings per share. The business’s quarterly revenue was up 38.6% on a year-over-year basis. On average, equities research analysts forecast that Hamilton Lane will post 3.58 EPS for the current year.

Hamilton Lane Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, April 6th. Investors of record on Wednesday, March 15th will be given a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a yield of 2.32%. The ex-dividend date of this dividend is Tuesday, March 14th. Hamilton Lane’s payout ratio is 62.02%.

Insiders Place Their Bets

In other Hamilton Lane news, major shareholder Oakville Number 2 Trust sold 100,000 shares of the firm’s stock in a transaction dated Thursday, March 9th. The stock was sold at an average price of $76.41, for a total transaction of $7,641,000.00. Following the completion of the sale, the insider now directly owns 535,015 shares in the company, valued at approximately $40,880,496.15. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Corporate insiders own 27.30% of the company’s stock.

Institutional Investors Weigh In On Hamilton Lane

A number of institutional investors have recently bought and sold shares of the business. Bank of New York Mellon Corp raised its stake in shares of Hamilton Lane by 1.8% during the 1st quarter. Bank of New York Mellon Corp now owns 187,549 shares of the company’s stock worth $14,494,000 after purchasing an additional 3,340 shares in the last quarter. American Century Companies Inc. raised its stake in shares of Hamilton Lane by 13.8% during the 1st quarter. American Century Companies Inc. now owns 5,518 shares of the company’s stock worth $426,000 after purchasing an additional 670 shares in the last quarter. US Bancorp DE raised its stake in shares of Hamilton Lane by 373.9% during the 1st quarter. US Bancorp DE now owns 3,109 shares of the company’s stock worth $241,000 after purchasing an additional 2,453 shares in the last quarter. PNC Financial Services Group Inc. raised its stake in shares of Hamilton Lane by 321.4% during the 1st quarter. PNC Financial Services Group Inc. now owns 611 shares of the company’s stock worth $48,000 after purchasing an additional 466 shares in the last quarter. Finally, Natixis Advisors L.P. purchased a new stake in shares of Hamilton Lane during the 1st quarter worth about $805,000. 63.52% of the stock is currently owned by institutional investors and hedge funds.

About Hamilton Lane

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Hamilton Lane, Inc is a holding company, which engages in the provision of private markets investment solutions. The firm works with clients to conceive, structure, build out, manage, and monitor portfolios of private markets funds and direct investments. It also offers the following solutions: customized separate accounts, specialized funds, advisory services, distribution management, and reporting, monitoring, data, and analytics.