Hamilton Lane Inc. (HLNE) Stock Rating Lowered by Morgan Stanley
Hamilton Lane Inc. (NASDAQ:HLNE) was downgraded by equities research analysts at Morgan Stanley from an “overweight” rating to an “equal weight” rating in a report issued on Thursday, Marketbeat reports. They presently have a $28.00 price target on the stock, up from their previous price target of $25.00. Morgan Stanley’s price target indicates a potential upside of 5.82% from the company’s previous close.
HLNE has been the subject of a number of other research reports. Zacks Investment Research raised Hamilton Lane from a “sell” rating to a “hold” rating in a research report on Thursday, August 10th. Keefe, Bruyette & Woods reaffirmed a “hold” rating and set a $24.00 price target on shares of Hamilton Lane in a research report on Thursday, September 28th. Five investment analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. The company currently has an average rating of “Hold” and a consensus price target of $23.80.
Hamilton Lane (NASDAQ:HLNE) traded down 2.43% during mid-day trading on Thursday, hitting $26.46. 335,057 shares of the company traded hands. The company has a market capitalization of $509.78 million and a price-to-earnings ratio of 80.18. Hamilton Lane has a one year low of $17.74 and a one year high of $28.34. The company’s 50-day moving average price is $25.08 and its 200 day moving average price is $25.08.
Hamilton Lane (NASDAQ:HLNE) last released its quarterly earnings results on Tuesday, August 8th. The company reported $0.33 earnings per share for the quarter, topping analysts’ consensus estimates 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 last year, the company earned $0.30 EPS. The company’s revenue was up 33.2% compared to the same quarter last year. On average, analysts anticipate that Hamilton Lane will post $1.08 earnings per share for the current fiscal year.
A number of large investors have recently added to or reduced their stakes in the business. Nationwide Fund Advisors boosted its position in Hamilton Lane by 84.5% during the 2nd quarter. Nationwide Fund Advisors now owns 8,099 shares of the company’s stock worth $178,000 after acquiring an additional 3,710 shares during the last quarter. Wells Fargo & Company MN acquired a new position in Hamilton Lane during the 1st quarter worth approximately $131,000. SG Americas Securities LLC acquired a new position in Hamilton Lane during the 1st quarter worth approximately $194,000. Royce & Associates LP boosted its position in Hamilton Lane by 7.1% during the 2nd 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 during the last quarter. Finally, Point72 Asia Hong Kong Ltd acquired a new position in Hamilton Lane during the 1st quarter worth approximately $202,000. 27.21% of the stock is owned by hedge funds and other institutional investors.
Hamilton Lane Company Profile
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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