Hamilton Lane (NASDAQ:HLNE) Stock Breaks Above 50 Day Moving Average Following Analyst Downgrade

Hamilton Lane Inc. (NASDAQ:HLNE)’s stock price crossed above its fifty day moving average during trading on Wednesday after Wells Fargo & Company raised their price target on the stock from $103.00 to $114.00. The stock has a fifty day moving average of $90.06 and traded as high as $95.15. Wells Fargo & Company currently has an overweight rating on the stock. Hamilton Lane shares last traded at $94.99, with a volume of 962,136 shares traded.

Other equities analysts also recently issued research reports about the company. Oppenheimer reduced their price target on Hamilton Lane from $182.00 to $181.00 and set an “outperform” rating for the company in a research report on Thursday, August 27th. Morgan Stanley set a $118.00 price objective on shares of Hamilton Lane in a report on Friday, October 16th. The Goldman Sachs Group reiterated a “buy” rating and issued a $117.00 price objective on shares of Hamilton Lane in a report on Friday, October 2nd. Zacks Research lowered shares of Hamilton Lane from a “strong-buy” rating to a “hold” rating in a research report on Monday, October 19th. Finally, UBS Group reduced their target price on shares of Hamilton Lane from $131.00 to $115.00 and set a “buy” rating for the company in a report on Tuesday, October 13th. Seven analysts have rated the stock with a Buy rating and three have given a Hold rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $125.50.

Key Hamilton Lane News

Here are the key news stories impacting Hamilton Lane this week:

• Positive Sentiment: Fiscal Q2 adjusted earnings were $1.98 per share, above consensus estimates of $1.65, while revenue grew 7.1% year over year. Fee-related earnings rose 34%, and the fee margin reached 51%. Hamilton Lane fiscal Q2 results
• Positive Sentiment: Assets under management grew 7% to $1.1 trillion, and evergreen-platform AUM rose 42% to nearly $21 billion, pointing to ongoing expansion in a key part of the business. Three takeaways for long-term investors
• Positive Sentiment: Hamilton Lane raised its quarterly dividend 11% to $0.60 per share, equivalent to $2.40 annualized, marking its ninth consecutive annual increase. It also announced a FactSet partnership to provide integrated private-markets analytics. Dividend target, partnership and evergreen growth
• Neutral Sentiment: Analyst target changes were split: Wells Fargo raised its target to $114 and KBW to $120, while JPMorgan cut its target to $144 and Oppenheimer trimmed its target to $170. All retained favorable ratings. Oppenheimer target update
• Negative Sentiment: Revenue of $204.43 million missed analyst expectations of about $215 million. Commentary also flagged uneven growth and raised questions about dividend resilience if private markets weaken. Revenue below estimates

Institutional Trading of Hamilton Lane

Several institutional investors have recently added to or reduced their stakes in the company. Root Financial Partners LLC acquired a new stake in shares of Hamilton Lane during the third quarter worth $27,000. IFP Advisors Inc grew its stake in shares of Hamilton Lane by 332.0% in the second quarter. IFP Advisors Inc now owns 419 shares of the company’s stock valued at $33,000 after acquiring an additional 322 shares in the last quarter. Fortitude Family Office LLC acquired a new position in shares of Hamilton Lane in the third quarter valued at about $51,000. Harbor Investment Advisory LLC acquired a new position in shares of Hamilton Lane in the second quarter valued at about $58,000. Finally, GAMMA Investing LLC increased its position in Hamilton Lane by 80.1% during the third quarter. GAMMA Investing LLC now owns 789 shares of the company’s stock worth $69,000 after acquiring an additional 351 shares during the period. 97.40% of the stock is currently owned by institutional investors.

Hamilton Lane Trading Up 7.2%

The company has a debt-to-equity ratio of 0.14, a current ratio of 3.37 and a quick ratio of 3.49. The business’s 50-day moving average is $90.06 and its 200 day moving average is $97.21. The firm has a market capitalization of $5.28 billion, a P/E ratio of 14.09 and a beta of 1.16.

Hamilton Lane (NASDAQ:HLNE) last announced its earnings results on Tuesday, November 3rd. The company reported $1.98 EPS for the quarter, topping the consensus estimate of $1.65 by $0.33. Hamilton Lane had a net margin of 32.40% and a return on equity of 23.47%. The company had revenue of $204.43 million for the quarter, compared to analysts’ expectations of $215.23 million. During the same period last year, the firm earned $1.54 earnings per share. The business’s revenue for the quarter was up 7.1% on a year-over-year basis. As a group, analysts anticipate that Hamilton Lane Inc. will post 7.47 EPS for the current fiscal year.

Hamilton Lane Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, January 7th. Investors of record on Monday, December 21st will be given a dividend of $0.60 per share. The ex-dividend date of this dividend is Monday, December 21st. This represents a $2.40 dividend on an annualized basis and a yield of 2.5%. Hamilton Lane’s dividend payout ratio is currently 35.61%.

About Hamilton Lane

Hamilton Lane Incorporated (NASDAQ: HLNE) is a global investment management firm specializing in private markets. The company provides investment solutions and advisory services focused on alternative assets, including private equity, private credit, venture capital, growth equity, infrastructure and real assets.

Hamilton Lane serves institutional investors, family offices, financial advisors and high-net-worth individuals. Its offerings include separately managed accounts, customized portfolios, commingled funds, evergreen vehicles and secondary-market strategies.