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Stock impact report

Hamilton Lane downgraded, StepStone upgraded at J.P. Morgan [Seeking Alpha]

Hamilton Lane Incorporated - Class A (HLNE) 
Last hamilton lane incorporated - class a earnings: 2/4 07:00 am Check Earnings Report
Company Research Source: Seeking Alpha
Morgan upgraded the investment firm to Overweight from Neutral on the expectation that its fee-paying assets under management (FPAUM) will improve this year as capital-raising prospects brighten. "After a period of a more challenging fundraising combined with some idiosyncratic issues, which had negatively impacted FPAUM growth for much of 2023, we now see a period of higher FPAUM and greater FPAUM growth in 2024," analyst Kenneth Worthington wrote in a note. He also expects "further success" in STEP's wealth-management business, "where the combination of innovation and more products in market position StepStone well in 2024 and beyond." In all, Worthington contended: "Should the capital markets deal calendar continue to improve and should M&A activity strengthen, we would expect StepStone to be more positively impacted by this private equity fly-wheel of better harvesting, better return of capital and better fundraising." Conversely, the analyst downgraded private-equity firm Show less Read more
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