Hamilton Lane (NASDAQ:HLNE) Price Target Cut to $174.00 by Analysts at Oppenheimer

Hamilton Lane (NASDAQ:HLNE) had its price target lowered by Oppenheimer from $176.00 to $174.00 in a research report report published on Friday,Benzinga reports. Oppenheimer currently has an outperform rating on the stock.

A number of other research analysts have also recently issued reports on HLNE. Zacks Research cut Hamilton Lane from a “strong-buy” rating to a “hold” rating in a research report on Monday, April 6th. Weiss Ratings restated a “hold (c)” rating on shares of Hamilton Lane in a research report on Wednesday, June 3rd. Morgan Stanley decreased their target price on shares of Hamilton Lane from $159.00 to $141.00 and set an “equal weight” rating on the stock in a research note on Tuesday, April 21st. BMO Capital Markets set a $94.00 price target on Hamilton Lane in a research note on Monday. Finally, The Goldman Sachs Group reduced their price objective on Hamilton Lane from $148.00 to $128.00 and set a “buy” rating on the stock in a research report on Tuesday, June 30th. Six equities research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $134.29.

Hamilton Lane Stock Down 0.1%

NASDAQ HLNE opened at $85.85 on Friday. The firm has a 50-day moving average price of $82.87 and a two-hundred day moving average price of $104.66. Hamilton Lane has a 12-month low of $71.88 and a 12-month high of $161.13. The company has a market capitalization of $4.77 billion, a P/E ratio of 14.53 and a beta of 1.16.

Hamilton Lane (NASDAQ:HLNE) last released its earnings results on Thursday, May 21st. The company reported $1.49 earnings per share for the quarter, beating analysts’ consensus estimates of $1.43 by $0.06. The firm had revenue of $193.57 million during the quarter, compared to the consensus estimate of $203.05 million. Hamilton Lane had a return on equity of 25.98% and a net margin of 32.83%.The company’s revenue was down 2.2% compared to the same quarter last year. During the same period in the prior year, the company posted $1.21 EPS. Equities analysts expect that Hamilton Lane will post 6.33 EPS for the current year.

Hamilton Lane Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, July 7th. Shareholders of record on Thursday, June 18th were given a $0.60 dividend. This is an increase from Hamilton Lane’s previous quarterly dividend of $0.54. This represents a $2.40 annualized dividend and a yield of 2.8%. The ex-dividend date of this dividend was Thursday, June 18th. Hamilton Lane’s payout ratio is presently 40.61%.

Hamilton Lane declared that its Board of Directors has initiated a share repurchase plan on Thursday, May 21st that allows the company to repurchase $100.00 million in shares. This repurchase authorization allows the company to buy up to 2% of its stock through open market purchases. Stock repurchase plans are generally a sign that the company’s board of directors believes its shares are undervalued.

Insider Buying and Selling at Hamilton Lane

In other Hamilton Lane news, COO Andrea Anigati Kramer bought 1,283 shares of the stock in a transaction dated Thursday, June 11th. The shares were bought at an average cost of $77.46 per share, for a total transaction of $99,381.18. Following the purchase, the chief operating officer directly owned 87,350 shares of the company’s stock, valued at approximately $6,766,131. This trade represents a 1.49% increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Chairman Hartley R. Rogers acquired 38,290 shares of the stock in a transaction on Thursday, June 11th. The stock was bought at an average cost of $78.49 per share, for a total transaction of $3,005,382.10. Following the transaction, the chairman owned 93,756 shares of the company’s stock, valued at approximately $7,358,908.44. This trade represents a 69.03% increase in their position. The SEC filing for this purchase provides additional information. Over the last ninety days, insiders have bought 95,039 shares of company stock valued at $8,100,739. Insiders own 22.21% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in HLNE. Millennium Management LLC grew its holdings in shares of Hamilton Lane by 418.8% in the third quarter. Millennium Management LLC now owns 1,060,511 shares of the company’s stock worth $142,946,000 after purchasing an additional 856,112 shares during the last quarter. Principal Financial Group Inc. boosted its position in Hamilton Lane by 148.3% during the 4th quarter. Principal Financial Group Inc. now owns 1,085,850 shares of the company’s stock valued at $145,844,000 after buying an additional 648,588 shares during the period. Norges Bank purchased a new stake in Hamilton Lane during the 4th quarter valued at $68,657,000. Balyasny Asset Management L.P. grew its holdings in Hamilton Lane by 117.8% in the 4th quarter. Balyasny Asset Management L.P. now owns 756,148 shares of the company’s stock worth $101,558,000 after acquiring an additional 409,013 shares during the last quarter. Finally, Westfield Capital Management Co. LP bought a new stake in Hamilton Lane in the 4th quarter worth $48,820,000. Institutional investors own 97.40% of the company’s stock.

About Hamilton Lane

Hamilton Lane is a global private markets investment management firm specializing in the full spectrum of private equity and credit strategies. The company partners with institutional investors and wealth managers to design, implement and manage customized portfolios in primary fund investing, secondary market transactions and direct co-investment opportunities. By combining investment selection, portfolio construction and ongoing monitoring, Hamilton Lane seeks to optimize risk-adjusted returns across diverse private markets exposures.

Founded in 1991, Hamilton Lane has developed a track record of investment and advisory services in private markets.