Hamilton Lane (NASDAQ:HLNE) Upgraded to Outperform at Oppenheimer

Oppenheimer upgraded shares of Hamilton Lane (NASDAQ:HLNE) from a market perform rating to an outperform rating in a report released on Tuesday morning, MarketBeat.com reports. The brokerage currently has $186.00 price objective on the stock.

A number of other research firms have also commented on HLNE. Keefe, Bruyette & Woods cut their price objective on shares of Hamilton Lane from $167.00 to $158.00 and set a “market perform” rating for the company in a research report on Monday, January 13th. UBS Group boosted their price target on shares of Hamilton Lane from $150.00 to $185.00 and gave the company a “neutral” rating in a research report on Tuesday, October 22nd. Morgan Stanley increased their price objective on Hamilton Lane from $182.00 to $190.00 and gave the stock an “equal weight” rating in a research report on Monday, November 11th. Wells Fargo & Company reduced their target price on Hamilton Lane from $194.00 to $163.00 and set an “equal weight” rating for the company in a research report on Tuesday, January 14th. Finally, JPMorgan Chase & Co. upped their target price on Hamilton Lane from $134.00 to $175.00 and gave the stock a “neutral” rating in a research note on Thursday, November 7th. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and one has issued a buy rating to the company. Based on data from MarketBeat, Hamilton Lane currently has an average rating of “Hold” and an average target price of $170.86.

Hamilton Lane Stock Performance

NASDAQ HLNE opened at $159.86 on Tuesday. The firm has a market cap of $8.86 billion, a P/E ratio of 34.68 and a beta of 1.24. The company has a quick ratio of 3.37, a current ratio of 3.37 and a debt-to-equity ratio of 0.24. The company’s 50 day moving average is $166.44 and its 200-day moving average is $161.05. Hamilton Lane has a 12-month low of $103.42 and a 12-month high of $203.72.

Hamilton Lane (NASDAQ:HLNE) last posted its earnings results on Wednesday, November 6th. The company reported $1.07 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.06 by $0.01. Hamilton Lane had a return on equity of 35.59% and a net margin of 28.03%. The firm had revenue of $150.00 million for the quarter, compared to the consensus estimate of $151.55 million. During the same quarter in the prior year, the business posted $0.89 earnings per share. The business’s quarterly revenue was up 18.2% on a year-over-year basis. Sell-side analysts predict that Hamilton Lane will post 4.88 earnings per share for the current year.

Hamilton Lane Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, January 7th. Stockholders of record on Monday, December 16th were paid a $0.49 dividend. This represents a $1.96 dividend on an annualized basis and a dividend yield of 1.23%. The ex-dividend date was Monday, December 16th. Hamilton Lane’s dividend payout ratio (DPR) is presently 42.52%.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the company. State Street Corp boosted its position in shares of Hamilton Lane by 53.7% during the third quarter. State Street Corp now owns 1,401,909 shares of the company’s stock valued at $236,516,000 after purchasing an additional 489,557 shares in the last quarter. Wellington Management Group LLP boosted its holdings in shares of Hamilton Lane by 31.1% during the 3rd quarter. Wellington Management Group LLP now owns 1,743,033 shares of the company’s stock valued at $293,509,000 after buying an additional 413,015 shares in the last quarter. Artemis Investment Management LLP purchased a new stake in shares of Hamilton Lane in the 4th quarter worth about $30,350,000. Barclays PLC increased its stake in shares of Hamilton Lane by 84.5% in the 3rd quarter. Barclays PLC now owns 246,383 shares of the company’s stock worth $41,488,000 after acquiring an additional 112,866 shares in the last quarter. Finally, Principal Financial Group Inc. lifted its position in Hamilton Lane by 20.2% during the 3rd quarter. Principal Financial Group Inc. now owns 583,721 shares of the company’s stock valued at $98,297,000 after acquiring an additional 97,924 shares during the period. Institutional investors own 97.40% of the company’s stock.

About Hamilton Lane

Hamilton Lane Incorporated is a private equity firm specializing in early venture, emerging growth, turnaround, middle market, mature, mid-venture, bridge, buyout, distressed/vulture, loan, mezzanine in growth capital companies. It prefers to invest in energy, industrials, consumer discretionary, health care, real estate, information technology, utilities, and consumer services.