Hamilton Lane (NASDAQ:HLNE) Lowered to Sell Rating by Wall Street Zen

Wall Street Zen downgraded shares of Hamilton Lane (NASDAQ:HLNE - Free Report) from a hold rating to a sell rating in a report released on Friday.

Other analysts have also recently issued reports about the company. JPMorgan Chase & Co. dropped their target price on Hamilton Lane from $176.00 to $167.00 and set a "neutral" rating for the company in a report on Tuesday, April 29th. Oppenheimer cut Hamilton Lane from an "outperform" rating to a "market perform" rating in a report on Thursday, May 15th. Morgan Stanley dropped their target price on Hamilton Lane from $190.00 to $157.00 and set an "equal weight" rating for the company in a report on Monday, April 14th. Wells Fargo & Company dropped their target price on Hamilton Lane from $166.00 to $161.00 and set an "equal weight" rating for the company in a report on Friday, May 30th. Finally, Keefe, Bruyette & Woods dropped their target price on Hamilton Lane from $162.00 to $155.00 and set a "market perform" rating for the company in a report on Monday, June 2nd. Two research analysts have rated the stock with a sell rating and six have issued a hold rating to the company. According to MarketBeat.com, the stock currently has an average rating of "Hold" and a consensus target price of $164.29.

Hamilton Lane Price Performance

NASDAQ HLNE traded up $0.19 during mid-day trading on Friday, hitting $150.82. The stock had a trading volume of 609,332 shares, compared to its average volume of 461,357. The firm's 50 day moving average is $152.68 and its 200 day moving average is $156.88. Hamilton Lane has a twelve month low of $114.85 and a twelve month high of $203.72. The company has a debt-to-equity ratio of 0.34, a current ratio of 4.19 and a quick ratio of 4.19. The stock has a market capitalization of $8.36 billion, a price-to-earnings ratio of 27.83 and a beta of 1.25.

Hamilton Lane (NASDAQ:HLNE - Get Free Report) last issued its earnings results on Thursday, May 29th. The company reported $1.21 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.20 by $0.01. The company had revenue of $197.97 million during the quarter, compared to analysts' expectations of $165.49 million. Hamilton Lane had a return on equity of 36.69% and a net margin of 31.12%. The firm's quarterly revenue was up 12.1% on a year-over-year basis. During the same period in the prior year, the business earned $1.38 EPS. Equities research analysts forecast that Hamilton Lane will post 4.97 earnings per share for the current fiscal year.

Hamilton Lane Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, July 7th. Stockholders of record on Friday, June 20th will be issued a dividend of $0.54 per share. The ex-dividend date is Friday, June 20th. This is a boost from Hamilton Lane's previous quarterly dividend of $0.49. This represents a $2.16 dividend on an annualized basis and a dividend yield of 1.43%. Hamilton Lane's dividend payout ratio is currently 40.07%.

Hedge Funds Weigh In On Hamilton Lane

Hedge funds have recently modified their holdings of the business. Vista Finance LLC purchased a new position in shares of Hamilton Lane during the 4th quarter worth $338,000. Kingsview Wealth Management LLC purchased a new position in Hamilton Lane during the 4th quarter valued at about $2,421,000. State of Michigan Retirement System boosted its holdings in Hamilton Lane by 3.1% during the 4th quarter. State of Michigan Retirement System now owns 9,900 shares of the company's stock valued at $1,466,000 after acquiring an additional 300 shares during the period. Charles Schwab Investment Management Inc. boosted its holdings in Hamilton Lane by 2.7% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 357,957 shares of the company's stock valued at $52,996,000 after acquiring an additional 9,551 shares during the period. Finally, Raymond James Financial Inc. purchased a new position in Hamilton Lane during the 4th quarter valued at about $24,081,000. 97.40% of the stock is currently owned by hedge funds and other 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.