Hamilton Lane (NASDAQ:HLNE) Upgraded by The Goldman Sachs Group to Neutral Rating

Key Points

• Hamilton Lane was upgraded by The Goldman Sachs Group from a "sell" rating to a "neutral" rating, with a target price of $162.00, indicating a potential upside of 10.86% from its previous close.
• Other research firms have also revised their ratings on Hamilton Lane, with several analysts currently maintaining a consensus rating of "Hold" and a price target of $166.43.
• In the latest quarterly earnings report, Hamilton Lane exceeded expectations by reporting earnings per share of $1.31, which was significantly above the consensus estimate of $0.98.

The Goldman Sachs Group upgraded shares of Hamilton Lane (NASDAQ:HLNE - Free Report) from a sell rating to a neutral rating in a research report sent to investors on Thursday morning, MarketBeat.com reports. They currently have $162.00 price target on the stock, up from their prior price target of $149.00.

A number of other research firms also recently weighed in on HLNE. Wall Street Zen raised Hamilton Lane from a "sell" rating to a "hold" rating in a research report on Saturday, August 9th. JPMorgan Chase & Co. cut their price objective on Hamilton Lane from $153.00 to $145.00 and set a "neutral" rating for the company in a report on Wednesday, July 23rd. Wells Fargo & Company increased their price objective on shares of Hamilton Lane from $161.00 to $162.00 and gave the company an "equal weight" rating in a research report on Friday, July 11th. Finally, Keefe, Bruyette & Woods increased their price objective on Hamilton Lane from $160.00 to $168.00 and gave the stock a "market perform" rating in a research report on Wednesday, August 6th. Seven investment analysts have rated the stock with a Hold rating, According to MarketBeat, the stock presently has an average rating of "Hold" and a consensus target price of $166.43.

Hamilton Lane Trading Down 0.4%

NASDAQ:HLNE traded down $0.63 on Thursday, hitting $150.36. 1,090,538 shares of the stock were exchanged, compared to its average volume of 327,793. The stock has a market capitalization of $8.37 billion, a price-to-earnings ratio of 28.92 and a beta of 1.26. Hamilton Lane has a 52 week low of $124.10 and a 52 week high of $203.72. The company has a debt-to-equity ratio of 0.29, a quick ratio of 4.32 and a current ratio of 4.32. The company's 50-day moving average price is $152.58 and its 200 day moving average price is $150.48.

Hamilton Lane (NASDAQ:HLNE - Get Free Report) last announced its quarterly earnings data on Tuesday, August 5th. The company reported $1.31 earnings per share for the quarter, topping the consensus estimate of $0.98 by $0.33. The firm had revenue of $196.73 million during the quarter, compared to analysts' expectations of $166.96 million. Hamilton Lane had a return on equity of 29.47% and a net margin of 30.66%.The company's quarterly revenue was up 11.8% compared to the same quarter last year. During the same period in the previous year, the business posted $1.47 EPS. On average, equities research analysts forecast that Hamilton Lane will post 4.97 earnings per share for the current year.

Hamilton Lane Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, October 6th. Investors of record on Friday, September 19th will be given a dividend of $0.54 per share. This represents a $2.16 dividend on an annualized basis 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 41.54%.

Insiders Place Their Bets

In other Hamilton Lane news, major shareholder River 5 Ltd French sold 150,000 shares of Hamilton Lane stock in a transaction on Thursday, September 4th. The stock was sold at an average price of $146.51, for a total value of $21,976,500.00. Following the completion of the sale, the insider owned 330,015 shares of the company's stock, valued at approximately $48,350,497.65. This trade represents a 31.25% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 22.21% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Hamilton Lane

A number of institutional investors and hedge funds have recently modified their holdings of HLNE. Kayne Anderson Rudnick Investment Management LLC purchased a new position in Hamilton Lane during the first quarter valued at $432,772,000. Wellington Management Group LLP lifted its holdings in Hamilton Lane by 5.5% during the first quarter. Wellington Management Group LLP now owns 1,701,963 shares of the company's stock worth $253,031,000 after buying an additional 88,100 shares during the period. Price T Rowe Associates Inc. MD lifted its holdings in shares of Hamilton Lane by 5.9% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 1,368,373 shares of the company's stock valued at $203,437,000 after purchasing an additional 76,107 shares during the last quarter. T. Rowe Price Investment Management Inc. raised its stake in Hamilton Lane by 63.4% in the 1st quarter. T. Rowe Price Investment Management Inc. now owns 1,275,000 shares of the company's stock worth $189,555,000 after acquiring an additional 494,637 shares during the last quarter. Finally, Champlain Investment Partners LLC increased its stake in shares of Hamilton Lane by 36.7% in the second quarter. Champlain Investment Partners LLC now owns 1,037,943 shares of the company's stock worth $147,512,000 after acquiring an additional 278,630 shares during the period. 97.40% of the stock is currently owned by hedge funds and other institutional investors.

Hamilton Lane Company Profile

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.