Hamilton Lane (NASDAQ:HLNE) Stock Rated “Overweight” in New Coverage at Wells Fargo & Company

Wells Fargo & Company started coverage on shares of Hamilton Lane (NASDAQ:HLNE) in a research note released on Friday morning, Marketbeat reports. The firm issued an overweight rating and a $103.00 target price on the stock.

Several other brokerages also recently commented on HLNE. Weiss Ratings upgraded Hamilton Lane from a “hold (c-)” rating to a “hold (c)” rating in a research note on Monday, August 31st. UBS Group upped their price target on Hamilton Lane from $114.00 to $131.00 and gave the stock a “buy” rating in a research note on Wednesday, August 5th. Morgan Stanley cut their price target on Hamilton Lane from $141.00 to $123.00 and set an “equal weight” rating on the stock in a report on Tuesday, July 21st. Keefe, Bruyette & Woods raised their price objective on Hamilton Lane from $105.00 to $116.00 and gave the company an “outperform” rating in a research note on Wednesday, August 5th. Finally, BMO Capital Markets set a $94.00 price objective on Hamilton Lane in a report on Monday, July 13th. One investment analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating and two have given a Hold rating to the company. According to MarketBeat.com, Hamilton Lane has an average rating of “Moderate Buy” and an average target price of $126.62.

Hamilton Lane Stock Performance

HLNE stock opened at $87.04 on Friday. The firm has a market cap of $4.83 billion, a PE ratio of 13.27 and a beta of 1.23. The company has a current ratio of 3.49, a quick ratio of 3.49 and a debt-to-equity ratio of 0.16. The stock has a 50-day moving average price of $96.90 and a 200-day moving average price of $91.65. Hamilton Lane has a 1-year low of $71.88 and a 1-year high of $155.66.

Hamilton Lane (NASDAQ:HLNE) last issued its quarterly earnings results on Tuesday, August 4th. The company reported $1.94 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.53 by $0.41. Hamilton Lane had a return on equity of 25.10% and a net margin of 32.14%.The firm had revenue of $275.33 million for the quarter, compared to analyst estimates of $221.94 million. During the same period in the previous year, the firm earned $1.47 earnings per share. The company’s revenue was up 56.5% compared to the same quarter last year. As a group, equities research analysts expect that Hamilton Lane will post 7.25 earnings per share for the current year.

Hamilton Lane Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, October 6th. Stockholders of record on Monday, September 21st will be paid a dividend of $0.60 per share. The ex-dividend date is Monday, September 21st. This represents a $2.40 annualized dividend and a dividend yield of 2.8%. Hamilton Lane’s dividend payout ratio (DPR) is presently 36.59%.

Hedge Funds Weigh In On Hamilton Lane

Several institutional investors have recently bought and sold shares of the company. AXQ Capital LP bought a new stake in shares of Hamilton Lane in the second quarter valued at $3,575,000. Sei Investments Co. lifted its position in shares of Hamilton Lane by 37.4% during the 1st quarter. Sei Investments Co. now owns 406,425 shares of the company’s stock valued at $40,399,000 after buying an additional 110,617 shares during the last quarter. Squarepoint Ops LLC bought a new position in shares of Hamilton Lane during the 2nd quarter worth $24,063,000. GW&K Investment Management LLC bought a new position in shares of Hamilton Lane during the 4th quarter worth $33,534,000. Finally, VIRGINIA RETIREMENT SYSTEMS ET Al purchased a new stake in Hamilton Lane in the 2nd quarter worth about $1,269,000. Hedge funds and other institutional investors own 97.40% of the company’s stock.

Hamilton Lane Company Profile

Hamilton Lane Incorporated (NASDAQ: HLNE) is a global investment management firm focused on private markets. The company provides investment solutions and advisory services to institutional investors, family offices, financial intermediaries and private wealth clients seeking exposure to alternative investments.

Its offerings include customized separate accounts, commingled funds, evergreen funds, secondary investments, direct and co-investments, and other private-market strategies. Hamilton Lane also provides portfolio management, investment research, due diligence, monitoring, reporting and data-driven technology designed to help clients evaluate and manage private-market portfolios.

Founded in 1991, Hamilton Lane serves clients across North America, Europe, Asia-Pacific and other international markets through a global network of offices.