Keefe, Bruyette & Woods Lowers Hamilton Lane (NASDAQ:HLNE) to Underperform

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Keefe, Bruyette & Woods cut shares of Hamilton Lane (NASDAQ:HLNE) from a market perform rating to an underperform rating in a research note released on Thursday, BenzingaRatingsTable reports. The firm currently has $53.00 price target on the stock, up from their previous price target of $49.00. The analysts noted that the move was a valuation call.

Other analysts have also issued research reports about the company. Oppenheimer set a $14.00 target price on ADMA Biologics and gave the stock a buy rating in a research note on Tuesday, June 25th. Morgan Stanley reduced their target price on Zuora from $22.00 to $16.00 and set an equal weight rating on the stock in a research note on Friday, May 31st. Macquarie upgraded Husky Energy from an underperform rating to a neutral rating in a research note on Thursday, April 11th. Zacks Investment Research upgraded York Water from a sell rating to a hold rating in a research note on Saturday, June 1st. Finally, CIBC reiterated a market perform rating on shares of HEXO in a research note on Tuesday, June 25th. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and two have issued a buy rating to the company. Hamilton Lane has a consensus rating of Hold and a consensus price target of $51.00.

NASDAQ:HLNE opened at $58.62 on Thursday. The firm’s fifty day moving average is $54.54. Hamilton Lane has a fifty-two week low of $31.81 and a fifty-two week high of $62.38. The stock has a market cap of $2.98 billion, a price-to-earnings ratio of 30.69, a PEG ratio of 1.85 and a beta of 1.02. The company has a quick ratio of 1.92, a current ratio of 1.92 and a debt-to-equity ratio of 0.42.

Hamilton Lane (NASDAQ:HLNE) last released its quarterly earnings results on Wednesday, May 29th. The company reported $0.36 earnings per share for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.36. Hamilton Lane had a return on equity of 55.70% and a net margin of 13.31%. The company had revenue of $67.00 million for the quarter, compared to analyst estimates of $67.15 million. During the same quarter in the prior year, the firm posted $0.58 EPS. Hamilton Lane’s quarterly revenue was down 13.7% compared to the same quarter last year. As a group, analysts anticipate that Hamilton Lane will post 2.11 earnings per share for the current fiscal year.

The firm also recently announced a quarterly dividend, which was paid on Friday, July 5th. Shareholders of record on Friday, June 14th were paid a $0.275 dividend. This is a positive change from Hamilton Lane’s previous quarterly dividend of $0.21. The ex-dividend date of this dividend was Thursday, June 13th. This represents a $1.10 dividend on an annualized basis and a yield of 1.88%. Hamilton Lane’s dividend payout ratio (DPR) is presently 57.59%.

In other Hamilton Lane news, major shareholder Michael John Kelly sold 3,792 shares of the stock in a transaction on Wednesday, June 5th. The stock was sold at an average price of $52.79, for a total value of $200,179.68. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Company insiders own 53.71% of the company’s stock.

Hedge funds have recently added to or reduced their stakes in the business. SG Americas Securities LLC purchased a new stake in Hamilton Lane in the first quarter worth $109,000. Legal & General Group Plc increased its stake in shares of Hamilton Lane by 16.1% during the fourth quarter. Legal & General Group Plc now owns 2,589 shares of the company’s stock valued at $96,000 after buying an additional 359 shares during the period. BNP Paribas Arbitrage SA increased its stake in shares of Hamilton Lane by 1,229.3% during the first quarter. BNP Paribas Arbitrage SA now owns 3,762 shares of the company’s stock valued at $164,000 after buying an additional 3,479 shares during the period. Great West Life Assurance Co. Can increased its stake in shares of Hamilton Lane by 11.4% during the fourth quarter. Great West Life Assurance Co. Can now owns 4,838 shares of the company’s stock valued at $172,000 after buying an additional 495 shares during the period. Finally, Metropolitan Life Insurance Co. NY increased its stake in shares of Hamilton Lane by 496.8% during the fourth quarter. Metropolitan Life Insurance Co. NY now owns 5,723 shares of the company’s stock valued at $212,000 after buying an additional 4,764 shares during the period. Institutional investors and hedge funds own 45.38% of the company’s stock.

About Hamilton Lane

Hamilton Lane Incorporated is an investment firm specializing in direct and fund of fund investments. It provides following services: separate accounts (customized to each individual client and structured as single client vehicles); specialized strategies (fund-of-funds, secondaries, co-investments, taft-hartley, distribution management); advisory relationships (including due diligence, strategic portfolio planning, monitoring and reporting services); and reporting and analytics solutions.

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Analyst Recommendations for Hamilton Lane (NASDAQ:HLNE)

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