Hamilton Lane (HLNE) Stock Price Up 7.2%

Hamilton Lane Inc (NASDAQ:HLNE) shares rose 7.2% during mid-day trading on Friday . The company traded as high as $36.19 and last traded at $35.41. Approximately 891,098 shares were traded during mid-day trading, an increase of 368% from the average daily volume of 190,475 shares. The stock had previously closed at $33.04.

HLNE has been the topic of a number of analyst reports. Zacks Investment Research downgraded Hamilton Lane from a “hold” rating to a “sell” rating in a report on Thursday, August 9th. ValuEngine downgraded Hamilton Lane from a “buy” rating to a “hold” rating in a research note on Tuesday, October 2nd. Morgan Stanley dropped their target price on Hamilton Lane from $49.00 to $48.00 and set a “hold” rating on the stock in a research note on Tuesday, October 9th. Finally, JPMorgan Chase & Co. downgraded Hamilton Lane from an “overweight” rating to a “neutral” rating and dropped their target price for the stock from $48.00 to $38.00 in a research note on Thursday.

The company has a quick ratio of 2.19, a current ratio of 2.19 and a debt-to-equity ratio of 0.58. The company has a market capitalization of $1.73 billion, a price-to-earnings ratio of 20.95, a price-to-earnings-growth ratio of 1.43 and a beta of 1.60.

Hamilton Lane (NASDAQ:HLNE) last announced its earnings results on Tuesday, August 7th. The company reported $0.38 earnings per share for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.38. Hamilton Lane had a return on equity of 63.94% and a net margin of 8.14%. The firm had revenue of $63.36 million for the quarter, compared to the consensus estimate of $57.15 million. As a group, analysts forecast that Hamilton Lane Inc will post 1.65 EPS for the current year.

In related news, Chairman Hartley R. Rogers sold 28,087 shares of the business’s stock in a transaction on Monday, September 17th. The stock was sold at an average price of $47.26, for a total transaction of $1,327,391.62. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, major shareholder Oakville Number 2 Trust sold 100,000 shares of the business’s stock in a transaction on Monday, September 17th. The stock was sold at an average price of $47.26, for a total value of $4,726,000.00. The disclosure for this sale can be found here. 53.71% of the stock is owned by insiders.

Hedge funds have recently made changes to their positions in the stock. FMR LLC grew its stake in Hamilton Lane by 366.3% during the 2nd quarter. FMR LLC now owns 2,134,043 shares of the company’s stock valued at $102,370,000 after purchasing an additional 1,676,343 shares during the last quarter. TPG Group Holdings SBS Advisors Inc. grew its stake in Hamilton Lane by 4.8% during the 2nd quarter. TPG Group Holdings SBS Advisors Inc. now owns 1,154,367 shares of the company’s stock valued at $55,375,000 after purchasing an additional 52,414 shares during the last quarter. BlackRock Inc. grew its stake in Hamilton Lane by 11.8% during the 2nd quarter. BlackRock Inc. now owns 1,132,167 shares of the company’s stock valued at $54,309,000 after purchasing an additional 119,371 shares during the last quarter. Renaissance Technologies LLC grew its stake in Hamilton Lane by 60.4% during the 2nd quarter. Renaissance Technologies LLC now owns 794,400 shares of the company’s stock valued at $38,107,000 after purchasing an additional 299,000 shares during the last quarter. Finally, OppenheimerFunds Inc. grew its stake in Hamilton Lane by 12.7% during the 2nd quarter. OppenheimerFunds Inc. now owns 350,444 shares of the company’s stock valued at $16,811,000 after purchasing an additional 39,375 shares during the last quarter. Hedge funds and other institutional investors own 38.44% of the company’s stock.

About Hamilton Lane (NASDAQ:HLNE)

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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