Keefe, Bruyette & Woods cut shares of Hamilton Lane (NASDAQ:HLNE) from a market perform rating to an underperform rating in a report published on Thursday morning, BenzingaRatingsTable reports. Keefe, Bruyette & Woods currently has $53.00 price objective on the stock, up from their previous price objective of $49.00. The analysts noted that the move was a valuation call.
Several other equities research analysts also recently weighed in on the company. Zacks Investment Research raised York Water from a sell rating to a hold rating in a report on Saturday, June 1st. Macquarie upgraded Husky Energy from an underperform rating to a neutral rating in a research note on Thursday, April 11th. CIBC restated a market perform rating on shares of HEXO in a research note on Tuesday, June 25th. Morgan Stanley reduced their price objective on Zuora from $22.00 to $16.00 and set an equal weight rating for the company in a research note on Friday, May 31st. Finally, Oppenheimer set a $14.00 price objective on ADMA Biologics and gave the stock a buy rating in a research note on Tuesday, June 25th. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and two have given a buy rating to the stock. Hamilton Lane has an average rating of Hold and a consensus price target of $51.00.
Shares of NASDAQ HLNE opened at $58.62 on Thursday. The company has a debt-to-equity ratio of 0.42, a quick ratio of 1.92 and a current ratio of 1.92. The firm has a market capitalization of $2.98 billion, a P/E ratio of 30.69, a PEG ratio of 1.85 and a beta of 1.02. The business has a 50-day simple moving average of $54.54. Hamilton Lane has a fifty-two week low of $31.81 and a fifty-two week high of $62.38.
Hamilton Lane (NASDAQ:HLNE) last issued its quarterly earnings results on Wednesday, May 29th. The company reported $0.36 earnings per share for the quarter, hitting the consensus estimate of $0.36. The business had revenue of $67.00 million during the quarter, compared to the consensus estimate of $67.15 million. Hamilton Lane had a return on equity of 55.70% and a net margin of 13.31%. The company’s quarterly revenue was down 13.7% on a year-over-year basis. During the same quarter last year, the company earned $0.58 earnings per share. On average, analysts expect that Hamilton Lane will post 2.11 EPS for the current year.
The company also recently disclosed a quarterly dividend, which was paid on Friday, July 5th. Stockholders of record on Friday, June 14th were paid a $0.275 dividend. This represents a $1.10 annualized dividend and a dividend yield of 1.88%. This is a boost from Hamilton Lane’s previous quarterly dividend of $0.21. The ex-dividend date of this dividend was Thursday, June 13th. Hamilton Lane’s dividend payout ratio (DPR) is presently 57.59%.
In other news, major shareholder Michael John Kelly sold 3,792 shares of the firm’s stock in a transaction dated Wednesday, June 5th. The stock was 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 is available through this hyperlink. Company insiders own 53.71% of the company’s stock.
Hedge funds have recently made changes to their positions in the stock. Legal & General Group Plc raised its position in Hamilton Lane by 16.1% during the fourth quarter. Legal & General Group Plc now owns 2,589 shares of the company’s stock valued at $96,000 after acquiring an additional 359 shares in the last quarter. SG Americas Securities LLC purchased a new position in Hamilton Lane during the first quarter valued at approximately $109,000. BNP Paribas Arbitrage SA raised its position in Hamilton Lane by 1,229.3% during the first quarter. BNP Paribas Arbitrage SA now owns 3,762 shares of the company’s stock valued at $164,000 after acquiring an additional 3,479 shares in the last quarter. Great West Life Assurance Co. Can raised its position in Hamilton Lane by 11.4% during the fourth quarter. Great West Life Assurance Co. Can now owns 4,838 shares of the company’s stock valued at $172,000 after acquiring an additional 495 shares in the last quarter. Finally, Metropolitan Life Insurance Co. NY raised its position in Hamilton Lane by 496.8% during the fourth quarter. Metropolitan Life Insurance Co. NY now owns 5,723 shares of the company’s stock valued at $212,000 after acquiring an additional 4,764 shares in the last quarter. Institutional investors own 45.38% of the company’s stock.
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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