Hamilton Lane Inc (NASDAQ:HLNE) Given Average Recommendation of “Hold” by Brokerages
Shares of Hamilton Lane Inc (NASDAQ:HLNE) have received a consensus recommendation of “Hold” from the nine research firms that are presently covering the company, Marketbeat.com reports. Two analysts have rated the stock with a sell recommendation, four have given a hold recommendation and two have issued a buy recommendation on the company. The average 1-year price target among brokerages that have issued a report on the stock in the last year is $50.33.
Several equities research analysts have recently issued reports on HLNE shares. Zacks Investment Research cut shares of Hamilton Lane from a “hold” rating to a “sell” rating in a research report on Saturday, August 10th. Morgan Stanley lifted their price objective on shares of Hamilton Lane from $56.00 to $60.00 and gave the stock an “overweight” rating in a research report on Friday, May 31st. CIBC started coverage on shares of Hamilton Lane in a research report on Tuesday, June 25th. They set a “market perform” rating for the company. Keefe, Bruyette & Woods cut shares of Hamilton Lane from a “market perform” rating to an “underperform” rating and lifted their price objective for the stock from $49.00 to $53.00 in a research report on Thursday, July 11th. They noted that the move was a valuation call. Finally, Oppenheimer started coverage on shares of Hamilton Lane in a research report on Tuesday, June 25th. They set a “market perform” rating for the company. They noted that the move was a valuation call.
Shares of Hamilton Lane stock traded up $0.47 during trading on Wednesday, hitting $55.98. 9,062 shares of the stock were exchanged, compared to its average volume of 131,516. The stock has a market cap of $2.81 billion, a price-to-earnings ratio of 29.43, a price-to-earnings-growth ratio of 1.79 and a beta of 1.01. The firm’s 50-day moving average price is $58.05 and its 200 day moving average price is $50.13. Hamilton Lane has a 12-month low of $31.81 and a 12-month high of $62.38. The company has a debt-to-equity ratio of 0.46, a current ratio of 2.35 and a quick ratio of 1.92.
The business also recently declared a quarterly dividend, which will be paid on Friday, October 4th. Investors of record on Monday, September 16th will be given a $0.275 dividend. The ex-dividend date is Friday, September 13th. This represents a $1.10 dividend on an annualized basis and a yield of 1.96%. Hamilton Lane’s dividend payout ratio (DPR) is presently 57.59%.
In related news, major shareholder Michael John Kelly sold 3,792 shares of the business’s stock in a transaction on Wednesday, June 5th. The shares were sold at an average price of $52.79, for a total value of $200,179.68. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 43.91% of the stock is owned by insiders.
A number of institutional investors and hedge funds have recently made changes to their positions in HLNE. Advisor Group Inc. grew its holdings in Hamilton Lane by 578.4% during the 2nd quarter. Advisor Group Inc. now owns 1,133 shares of the company’s stock worth $65,000 after acquiring an additional 966 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank acquired a new position in Hamilton Lane during the 2nd quarter worth $78,000. Legal & General Group Plc grew its holdings in Hamilton Lane by 16.1% during the 4th quarter. Legal & General Group Plc now owns 2,589 shares of the company’s stock worth $96,000 after acquiring an additional 359 shares in the last quarter. SG Americas Securities LLC acquired a new position in Hamilton Lane during the 1st quarter worth $109,000. Finally, Bank of Montreal Can acquired a new position in Hamilton Lane during the 2nd quarter worth $110,000. 44.50% of the stock is owned by hedge funds and other institutional investors.
About Hamilton Lane
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.
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