| Over a week ago | ||||
JPMorgan analyst Kenneth… JPMorgan analyst Kenneth Worthington upgraded Hamilton Lane to Overweight from Neutral with an $85 price target. The company's earnings have been more resilient to the broader volatility of the public markets, the analyst tells investors in a research note. The firm sees Hamilton Lane as a "mid-cap growthier financial stock" that may provide an alternative to investing in what had been faster growing mid-cap banks, which are now subject to various operational and regulatory risks in the wake of the collapse of Silvergate, Silicon Valley and Signature banks. It sees limited risk for Hamilton given its "cautious/conservative approach" to managing its business and recommends taking advantage of the recent selloff. | ||||
The deal range was… The deal range was $77.00-$77.94. BofA acted as sole book running manager for the offering. | ||||
Hamilton Lane announced… Hamilton Lane announced that it has commenced an underwritten public offering of 671,737 shares of Class A common stock, in the aggregate, to be sold by Hamilton Lane and a selling stockholder, subject to market and other conditions. BofA Securities, Inc. is acting as book-running manager and underwriter for this offering. | ||||
| Over a month ago | ||||
Hamilton Lane… Hamilton Lane "announced the official opening of its Shanghai, China office, underscoring the firm's commitment to the Asia Pacific region. This marks the firm's sixth location in the region, which includes offices in Hong Kong, Seoul, Singapore, Sydney and Tokyo." | ||||
Wells Fargo analyst… Wells Fargo analyst Finian O'Shea raised the firm's price target on Hamilton Lane to $75 from $69 and keeps an Equal Weight rating on the shares following a solid Q3 except for an investment write-down. The firm is trimming out-year EPS estimates a bit on assumed slower margin expansion. | ||||
Reports Q3 revenue… Reports Q3 revenue $91.7M, consensus $127.45M. Total AUM of $107.5B grew 10% year-over-year. Fee-earning AUM increased 19% to $54.9B over the same period. CEO Mario Giannini commented: "Despite what continues to be a challenging market environment, we have posted another strong quarter of earnings and growth. We are executing well across the entirety of the business and I remain proud of the effort and determination the team consistently puts forth." | ||||
| Over a quarter ago | ||||
Reports Q2 revenue… Reports Q2 revenue $92.9M, consensus $105.45M. | ||||
UBS analyst Adam Beatty… UBS analyst Adam Beatty lowered the firm's price target on Hamilton Lane to $68 from $75 and keeps a Neutral rating on the shares as part of a broader research note on U.S. Alternative Asset Managers. The analyst is updating his model to reflect the "more risky backdrop", even though the sector's year-to-date fundamentals are "better than feared". | ||||
Securitize, a digital… Securitize, a digital asset securities firm, and Hamilton Lane announced a partnership to expand investor access to Hamilton Lane's funds through tokenization. Through this partnership, qualified U.S.-based investors will be able to more easily access three distinct Hamilton Lane funds, which will be available through new tokenized feeder funds, the companies said in a statement. The component funds will be tokenized by Securitize's digital transfer agency, managed by Securitize's digital asset management arm, Securitize Capital, and be available for investment on its broker-dealer, Securitize Markets in Q4, they said. | ||||
Hamilton Lane has… Hamilton Lane has expanded its footprint across Europe, hiring a number of senior executives across London and Frankfurt, and adding outposts in Milan, Stockholm and Zug since the beginning of 2021. With the addition of the Milan, Stockholm and Zug offices, Hamilton Lane now has six offices across the EMEA region, double the number than at the end of 2020. | ||||
