Hamilton Lane (NASDAQ:HLNE) Shares Down 7.4%
Hamilton Lane Inc (NASDAQ:HLNE)’s stock price was down 7.4% during mid-day trading on Tuesday . The stock traded as low as $57.33 and last traded at $57.64, approximately 961,868 shares traded hands during mid-day trading. An increase of 552% from the average daily volume of 147,416 shares. The stock had previously closed at $62.26.
Several research firms recently weighed in on HLNE. Keefe, Bruyette & Woods lowered Hamilton Lane from a “market perform” rating to an “underperform” rating and lifted their price target for the company from $49.00 to $53.00 in a research report on Thursday, July 11th. They noted that the move was a valuation call. Morgan Stanley upped their price target on Hamilton Lane from $56.00 to $60.00 and gave the stock an “overweight” rating in a research note on Friday, May 31st. Oppenheimer started coverage on Hamilton Lane in a report on Tuesday, June 25th. They issued a “market perform” rating for the company. They noted that the move was a valuation call. CIBC initiated coverage on Hamilton Lane in a research report on Tuesday, June 25th. They set a “market perform” rating for the company. Finally, Zacks Investment Research downgraded shares of Hamilton Lane from a “hold” rating to a “sell” rating in a research report on Tuesday, August 20th. Two analysts have rated the stock with a sell rating, four have assigned a hold rating and two have assigned a buy rating to the company’s stock. The company presently has an average rating of “Hold” and an average price target of $51.00.
The stock’s fifty day simple moving average is $58.61 and its two-hundred day simple moving average is $52.23. The firm has a market cap of $3.21 billion, a PE ratio of 30.18, a PEG ratio of 2.05 and a beta of 0.99. 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 business also recently disclosed a quarterly dividend, which will be paid on Friday, October 4th. Shareholders of record on Monday, September 16th will be paid a dividend of $0.275 per share. This represents a $1.10 dividend on an annualized basis and a yield of 1.91%. The ex-dividend date is Friday, September 13th. Hamilton Lane’s payout ratio is 57.59%.
A number of institutional investors have recently added to or reduced their stakes in the business. Allianz Asset Management GmbH boosted its stake in Hamilton Lane by 2.8% in the 2nd quarter. Allianz Asset Management GmbH now owns 8,963 shares of the company’s stock worth $512,000 after purchasing an additional 241 shares in the last quarter. Hancock Whitney Corp increased its stake in Hamilton Lane by 1.5% during the 2nd quarter. Hancock Whitney Corp now owns 16,448 shares of the company’s stock valued at $939,000 after purchasing an additional 251 shares in the last quarter. SG Americas Securities LLC increased its stake in Hamilton Lane by 29.9% during the 2nd quarter. SG Americas Securities LLC now owns 3,264 shares of the company’s stock valued at $186,000 after purchasing an additional 752 shares in the last quarter. Rhumbline Advisers raised its holdings in Hamilton Lane by 4.5% in the first quarter. Rhumbline Advisers now owns 21,280 shares of the company’s stock worth $927,000 after buying an additional 908 shares during the last quarter. Finally, Advisor Group Inc. raised its holdings in Hamilton Lane by 578.4% in the second quarter. Advisor Group Inc. now owns 1,133 shares of the company’s stock worth $65,000 after buying an additional 966 shares during the last quarter. 47.68% of the stock is currently owned by institutional investors and hedge funds.
About Hamilton Lane (NASDAQ:HLNE)
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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