Hamilton Lane (NASDAQ:HLNE) Rating Lowered to Sell at Zacks Investment Research

Hamilton Lane (NASDAQ:HLNE) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a research note issued on Tuesday, Zacks.com reports.

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. Morgan Stanley boosted their price target on shares of Hamilton Lane from $56.00 to $60.00 and gave the stock an “overweight” rating in a research note on Friday, May 31st. Keefe, Bruyette & Woods downgraded shares of Hamilton Lane from a “market perform” rating to an “underperform” rating and boosted their price target for the stock from $49.00 to $53.00 in a research note on Thursday, July 11th. They noted that the move was a valuation call. CIBC began coverage on shares of Hamilton Lane in a research note on Tuesday, June 25th. They issued a “market perform” rating for the company. Finally, Oppenheimer began coverage on shares of Hamilton Lane in a research note on Tuesday, June 25th. They issued a “market perform” rating for the company. They noted that the move was a valuation call. Two investment analysts have rated the stock with a sell rating, four have given a hold rating and two have issued a buy rating to the company’s stock. The stock has an average rating of “Hold” and a consensus price target of $51.00.

Hamilton Lane stock opened at $56.56 on Tuesday. 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 company has a market capitalization of $2.82 billion, a PE ratio of 29.61, a P/E/G ratio of 1.80 and a beta of 1.01. The firm has a fifty day simple moving average of $57.92 and a two-hundred day simple moving average of $50.41. Hamilton Lane has a twelve month low of $31.81 and a twelve month high of $62.38.

Hamilton Lane (NASDAQ:HLNE) last posted its quarterly earnings results on Tuesday, August 6th. The company reported $0.45 earnings per share for the quarter, missing the consensus estimate of $0.50 by ($0.05). The business had revenue of $65.00 million during the quarter, compared to the consensus estimate of $71.21 million. Hamilton Lane had a return on equity of 61.94% and a net margin of 14.24%. The business’s revenue for the quarter was up 2.6% on a year-over-year basis. During the same period in the prior year, the firm earned $0.38 earnings per share. As a group, equities analysts expect that Hamilton Lane will post 2.05 earnings per share for the current fiscal year.

In other Hamilton Lane news, major shareholder Michael John Kelly sold 3,792 shares of the business’s stock in a transaction dated Wednesday, June 5th. The shares were sold at an average price of $52.79, for a total value of $200,179.68. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. 43.91% of the stock is currently owned by insiders.

Hedge funds have recently added to or reduced their stakes in the business. Marshall Wace LLP purchased a new position in shares of Hamilton Lane in the first quarter valued at about $970,000. OppenheimerFunds Inc. increased its position in shares of Hamilton Lane by 12.4% during the first quarter. OppenheimerFunds Inc. now owns 605,973 shares of the company’s stock valued at $26,409,000 after buying an additional 66,823 shares during the period. Rhumbline Advisers increased its position in shares of Hamilton Lane by 4.5% during the first quarter. Rhumbline Advisers now owns 21,280 shares of the company’s stock valued at $927,000 after buying an additional 908 shares during the period. Bank of America Corp DE increased its position in shares of Hamilton Lane by 12.0% during the fourth quarter. Bank of America Corp DE now owns 110,347 shares of the company’s stock valued at $4,083,000 after buying an additional 11,852 shares during the period. Finally, Millennium Management LLC purchased a new position in shares of Hamilton Lane during the fourth quarter valued at about $455,000. Hedge funds and other institutional investors own 44.50% of the company’s stock.

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.

Further Reading: The Discount Rate – What You Need to Know

Get a free copy of the Zacks research report on Hamilton Lane (HLNE)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

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.