Hamilton Lane (NASDAQ:HLNE) Price Target Raised to $168.00 at Keefe, Bruyette & Woods

Key Points

• Hamilton Lane's price target was increased from $160.00 to $168.00 by Keefe, Bruyette & Woods, indicating a potential upside of 5.90% from its previous close.
• Other analysts have mixed opinions, with Oppenheimer downgrading it to a "market perform" and Morgan Stanley cutting their price objective from $190.00 to $157.00.
• The company reported better-than-expected earnings with a $1.31 EPS, exceeding estimates of $0.98, and a revenue of $196.73 million, reflecting an 11.8% year-over-year increase.

Hamilton Lane (NASDAQ:HLNE - Free Report) had its price target raised by Keefe, Bruyette & Woods from $160.00 to $168.00 in a research note published on Wednesday,Benzinga reports. Keefe, Bruyette & Woods currently has a market perform rating on the stock.

Several other research firms have also issued reports on HLNE. Morgan Stanley cut their price target on shares of Hamilton Lane from $190.00 to $157.00 and set an "equal weight" rating for the company in a research report on Monday, April 14th. Wall Street Zen downgraded shares of Hamilton Lane from a "hold" rating to a "sell" rating in a research report on Friday, June 6th. Oppenheimer cut Hamilton Lane from an "outperform" rating to a "market perform" rating in a research note on Thursday, May 15th. JPMorgan Chase & Co. cut their price target on shares of Hamilton Lane from $153.00 to $145.00 and set a "neutral" rating on the stock in a report on Wednesday, July 23rd. Finally, Wells Fargo & Company raised their target price on shares of Hamilton Lane from $161.00 to $162.00 and gave the stock an "equal weight" rating in a report on Friday, July 11th. Two investment analysts have rated the stock with a sell rating and six have issued a hold rating to the stock. According to MarketBeat, the company has an average rating of "Hold" and an average target price of $163.14.

Hamilton Lane Price Performance

HLNE traded up $1.25 during trading on Wednesday, reaching $154.44. 20,972 shares of the company were exchanged, compared to its average volume of 576,113. Hamilton Lane has a 12-month low of $124.10 and a 12-month high of $203.72. The company's 50-day moving average is $148.50 and its two-hundred day moving average is $151.78. The company has a quick ratio of 4.83, a current ratio of 4.32 and a debt-to-equity ratio of 0.29. The company has a market cap of $8.27 billion, a price-to-earnings ratio of 29.71 and a beta of 1.23.

Hamilton Lane (NASDAQ:HLNE - Get Free Report) last posted its quarterly earnings data on Tuesday, August 5th. The company reported $1.31 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.98 by $0.33. The company had revenue of $196.73 million during the quarter, compared to analyst estimates of $166.96 million. Hamilton Lane had a return on equity of 29.47% and a net margin of 30.66%. The firm's quarterly revenue was up 11.8% on a year-over-year basis. During the same quarter last year, the company earned $1.47 earnings per share. Research analysts forecast that Hamilton Lane will post 4.97 earnings per share for the current fiscal year.

Hamilton Lane Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, October 6th. Investors of record on Friday, September 19th will be paid a dividend of $0.54 per share. This represents a $2.16 annualized dividend and a yield of 1.4%. The ex-dividend date of this dividend is Friday, September 19th. Hamilton Lane's dividend payout ratio (DPR) is presently 41.54%.

Institutional Investors Weigh In On Hamilton Lane

Several large investors have recently made changes to their positions in the company. LPL Financial LLC lifted its position in Hamilton Lane by 27.2% during the fourth quarter. LPL Financial LLC now owns 9,816 shares of the company's stock valued at $1,453,000 after purchasing an additional 2,101 shares during the last quarter. Alliancebernstein L.P. increased its position in shares of Hamilton Lane by 11.1% during the 4th quarter. Alliancebernstein L.P. now owns 113,870 shares of the company's stock valued at $16,858,000 after purchasing an additional 11,349 shares during the last quarter. Wells Fargo & Company MN increased its position in Hamilton Lane by 0.6% during the fourth quarter. Wells Fargo & Company MN now owns 97,903 shares of the company's stock valued at $14,495,000 after acquiring an additional 606 shares during the last quarter. Aviva PLC raised its stake in shares of Hamilton Lane by 18.8% in the fourth quarter. Aviva PLC now owns 3,334 shares of the company's stock valued at $494,000 after acquiring an additional 527 shares during the period. Finally, Bank of Montreal Can lifted its holdings in shares of Hamilton Lane by 17.0% in the 4th quarter. Bank of Montreal Can now owns 4,171 shares of the company's stock worth $618,000 after acquiring an additional 605 shares during the last quarter. 97.40% of the stock is owned by institutional investors.

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.