Hamilton Lane Inc. (HLNE) Lifted to Buy at Zacks Investment Research
Hamilton Lane Inc. (NASDAQ:HLNE) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a report issued on Saturday. The brokerage currently has a $26.00 target price on the stock. Zacks Investment Research‘s price target would indicate a potential upside of 15.30% from the stock’s current price.
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 issued a $23.00 price objective (down from $24.00) on shares of Hamilton Lane in a research note on Monday, July 10th. Three analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. The company presently has a consensus rating of “Buy” and an average price target of $22.20.
Hamilton Lane (NASDAQ:HLNE) opened at 22.55 on Friday. The firm has a market cap of $434.43 million and a P/E ratio of 71.59. The company’s 50-day moving average is $22.63 and its 200 day moving average is $20.65. Hamilton Lane has a 12 month low of $17.32 and a 12 month high of $24.00.
Hamilton Lane (NASDAQ:HLNE) last announced its quarterly earnings results on Tuesday, August 8th. The company reported $0.33 EPS for the quarter, beating the Zacks’ consensus estimate of $0.26 by $0.07. The firm had revenue of $52.70 million for the quarter, compared to analyst estimates of $50.69 million. During the same period in the previous year, the business posted $0.30 earnings per share. The business’s revenue for the quarter was up 33.2% compared to the same quarter last year. Equities research analysts expect that Hamilton Lane will post $1.08 EPS for the current fiscal year.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Henderson Group PLC bought a new stake in shares of Hamilton Lane during the first quarter valued at approximately $117,000. Wells Fargo & Company MN purchased a new position in shares of Hamilton Lane during the first quarter valued at approximately $131,000. Nationwide Fund Advisors boosted its position in shares of Hamilton Lane by 84.5% during the second quarter. Nationwide Fund Advisors now owns 8,099 shares of the company’s stock valued at $178,000 after buying an additional 3,710 shares during the last quarter. SG Americas Securities LLC purchased a new position in shares of Hamilton Lane during the first quarter valued at approximately $194,000. Finally, Point72 Asia Hong Kong Ltd purchased a new position in shares of Hamilton Lane during the first quarter valued at approximately $202,000. Hedge funds and other institutional investors 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.
For more information about research offerings from Zacks Investment Research, visit Zacks.com
Receive News & Ratings for Hamilton Lane Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Hamilton Lane Inc. and related companies with MarketBeat.com's FREE daily email newsletter.