Hamilton Lane (NASDAQ:HLNE) Upgraded to “Overweight” at JPMorgan Chase & Co.

Hamilton Lane (NASDAQ:HLNE – Get Rating) was upgraded by research analysts at JPMorgan Chase & Co. from a “neutral” rating to an “overweight” rating in a research note issued to investors on Wednesday, Marketbeat reports. The brokerage currently has a $85.00 price objective on the stock. JPMorgan Chase & Co.‘s price objective suggests a potential upside of 23.53% from the stock’s previous close.

Other analysts have also issued reports about the stock. The Goldman Sachs Group lifted their target price on shares of Hamilton Lane from $70.00 to $80.00 and gave the stock a “neutral” rating in a report on Thursday, February 9th. Morgan Stanley boosted their price objective on shares of Hamilton Lane from $72.00 to $78.00 and gave the stock an “equal weight” rating in a report on Thursday, February 9th. Finally, Wells Fargo & Company upped their price objective on Hamilton Lane from $69.00 to $75.00 and gave the company an “equal weight” rating in a research report on Wednesday, February 8th. Four research analysts have rated the stock with a hold rating and one has issued a buy rating to the company. According to MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $77.20.

Hamilton Lane Price Performance

HLNE stock opened at $68.81 on Wednesday. The company has a debt-to-equity ratio of 0.38, a quick ratio of 2.16 and a current ratio of 2.16. The firm has a market capitalization of $3.70 billion, a price-to-earnings ratio of 26.67 and a beta of 1.07. The firm has a 50 day moving average price of $75.08 and a 200-day moving average price of $69.76. Hamilton Lane has a 52-week low of $55.81 and a 52-week high of $81.23.

Hamilton Lane (NASDAQ:HLNE – Get Rating) last released its earnings results on Tuesday, February 7th. The company reported $0.43 EPS for the quarter, missing the consensus estimate of $0.82 by ($0.39). Hamilton Lane had a return on equity of 37.41% and a net margin of 20.14%. The company had revenue of $127.07 million during the quarter, compared to the consensus estimate of $120.66 million. During the same period last year, the firm posted $1.27 earnings per share. The company’s revenue was up 38.6% compared to the same quarter last year. Equities research analysts forecast that Hamilton Lane will post 3.58 EPS for the current fiscal year.

Insider Activity at Hamilton Lane

In other Hamilton Lane news, major shareholder Oakville Number 2 Trust sold 100,000 shares of Hamilton Lane stock in a transaction that occurred on Thursday, March 9th. The shares were sold at an average price of $76.41, for a total value of $7,641,000.00. Following the completion of the sale, the insider now owns 535,015 shares of the company’s stock, valued at approximately $40,880,496.15. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. 27.30% of the stock is owned by insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of the company. Teachers Retirement System of The State of Kentucky increased its position in shares of Hamilton Lane by 6.0% during the 4th quarter. Teachers Retirement System of The State of Kentucky now owns 55,212 shares of the company’s stock valued at $3,527,000 after purchasing an additional 3,103 shares during the last quarter. Macquarie Group Ltd. increased its holdings in Hamilton Lane by 17.7% during the fourth quarter. Macquarie Group Ltd. now owns 1,160,680 shares of the company’s stock valued at $74,144,000 after buying an additional 174,310 shares during the last quarter. Point72 Middle East FZE bought a new position in Hamilton Lane in the fourth quarter worth approximately $237,000. State of Wyoming boosted its stake in shares of Hamilton Lane by 21.0% during the 4th quarter. State of Wyoming now owns 1,171 shares of the company’s stock worth $75,000 after acquiring an additional 203 shares during the last quarter. Finally, MetLife Investment Management LLC boosted its stake in shares of Hamilton Lane by 2.9% during the 4th quarter. MetLife Investment Management LLC now owns 18,843 shares of the company’s stock worth $1,204,000 after acquiring an additional 532 shares during the last quarter. 63.52% of the stock is owned by hedge funds and other institutional investors.

Hamilton Lane Company Profile

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Hamilton Lane, Inc is a holding company, which engages in the provision of private markets investment solutions. The firm works with clients to conceive, structure, build out, manage, and monitor portfolios of private markets funds and direct investments. It also offers the following solutions: customized separate accounts, specialized funds, advisory services, distribution management, and reporting, monitoring, data, and analytics.