Hamilton Lane (NASDAQ:HLNE) Upgraded to Hold at Wall Street Zen

Key Points

• Hamilton Lane (NASDAQ:HLNE) received an upgrade from Wall Street Zen, changing its rating from "sell" to "hold."
• Despite the upgrade, Oppenheimer downgraded the stock to "market perform," showing mixed sentiments among analysts, with a consensus rating of "hold."
• The company reported a significant earnings beat with an EPS of $1.31 for the quarter, surpassing estimates by $0.33, alongside an 11.8% year-over-year revenue increase.

Hamilton Lane (NASDAQ:HLNE - Get Free Report) was upgraded by equities research analysts at Wall Street Zen from a "sell" rating to a "hold" rating in a research note issued on Saturday.

Several other analysts have also issued reports on the company. Wells Fargo & Company increased their price objective on Hamilton Lane from $161.00 to $162.00 and gave the stock an "equal weight" rating in a report on Friday, July 11th. Morgan Stanley reduced their target price on shares of Hamilton Lane from $190.00 to $157.00 and set an "equal weight" rating for the company in a research note on Monday, April 14th. Oppenheimer cut shares of Hamilton Lane from an "outperform" rating to a "market perform" rating in a research note on Thursday, May 15th. JPMorgan Chase & Co. cut their target price on shares of Hamilton Lane from $153.00 to $145.00 and set a "neutral" rating for the company in a research note on Wednesday, July 23rd. Finally, Keefe, Bruyette & Woods boosted their price target on shares of Hamilton Lane from $160.00 to $168.00 and gave the company a "market perform" rating in a report on Wednesday, August 6th. One research analyst has rated the stock with a sell rating and seven have issued a hold rating to the company's stock. According to data from MarketBeat, the stock currently has an average rating of "Hold" and a consensus target price of $163.14.

Hamilton Lane Stock Performance

HLNE stock traded down $1.99 on Friday, reaching $152.55. The company's stock had a trading volume of 311,770 shares, compared to its average volume of 576,078. Hamilton Lane has a 52 week low of $124.10 and a 52 week high of $203.72. The company has a market capitalization of $8.17 billion, a P/E ratio of 29.34 and a beta of 1.23. The firm has a fifty day moving average of $148.59 and a two-hundred day moving average of $151.64. The company has a debt-to-equity ratio of 0.29, a current ratio of 4.32 and a quick ratio of 4.32.

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

Hedge Funds Weigh In On Hamilton Lane

Several large investors have recently modified their holdings of the business. MassMutual Private Wealth & Trust FSB grew its stake in Hamilton Lane by 252.0% during the first quarter. MassMutual Private Wealth & Trust FSB now owns 176 shares of the company's stock valued at $26,000 after acquiring an additional 126 shares in the last quarter. WPG Advisers LLC purchased a new stake in shares of Hamilton Lane in the 1st quarter worth about $26,000. Parkside Financial Bank & Trust grew its position in Hamilton Lane by 920.0% during the 2nd quarter. Parkside Financial Bank & Trust now owns 204 shares of the company's stock valued at $29,000 after purchasing an additional 184 shares during the last quarter. Versant Capital Management Inc bought a new position in Hamilton Lane during the 1st quarter valued at about $30,000. Finally, Whittier Trust Co. of Nevada Inc. bought a new position in shares of Hamilton Lane in the 1st quarter worth approximately $33,000. Hedge funds and other institutional investors own 97.40% of the company's stock.

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.