Hamilton Lane (NASDAQ:HLNE) Shares Down 6.8% – What’s Next?

Hamilton Lane Inc. (NASDAQ:HLNE) dropped 6.8% during mid-day trading on Thursday . The stock traded as low as $85.16 and last traded at $84.3390. Approximately 43,017 shares traded hands during trading, a decline of 94% from the average daily volume of 769,076 shares. The stock had previously closed at $90.49.

Wall Street Analysts Forecast Growth

HLNE has been the topic of several analyst reports. Zacks Research lowered shares of Hamilton Lane from a “strong-buy” rating to a “hold” rating in a research report on Monday, April 6th. BMO Capital Markets reduced their price target on shares of Hamilton Lane from $108.00 to $102.00 and set an “outperform” rating on the stock in a research report on Friday, May 22nd. Oppenheimer increased their price target on shares of Hamilton Lane from $171.00 to $179.00 and gave the stock an “outperform” rating in a research report on Friday, May 22nd. Keefe, Bruyette & Woods reiterated an “outperform” rating on shares of Hamilton Lane in a research report on Friday, May 22nd. Finally, JPMorgan Chase & Co. reduced their price target on shares of Hamilton Lane from $166.00 to $148.00 and set an “overweight” rating on the stock in a research report on Monday, May 18th. Six equities research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the stock. Based on data from MarketBeat, Hamilton Lane presently has a consensus rating of “Moderate Buy” and an average price target of $150.00.

Hamilton Lane Stock Performance

The firm has a market cap of $4.86 billion, a P/E ratio of 14.74 and a beta of 1.18. The company’s 50 day moving average is $94.45 and its 200 day moving average is $116.42.

Hamilton Lane (NASDAQ:HLNE) last issued its quarterly earnings data on Thursday, May 21st. The company reported $1.49 EPS for the quarter, beating the consensus estimate of $1.43 by $0.06. The business had revenue of $193.57 million during the quarter, compared to the consensus estimate of $203.05 million. Hamilton Lane had a net margin of 32.83% and a return on equity of 25.98%. The firm’s revenue was down 2.2% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $1.21 EPS. On average, equities research analysts anticipate that Hamilton Lane Inc. will post 6.26 EPS for the current year.

Hamilton Lane Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 7th. Investors of record on Thursday, June 18th will be paid a $0.60 dividend. This represents a $2.40 annualized dividend and a yield of 2.8%. The ex-dividend date of this dividend is Thursday, June 18th. This is a positive change from Hamilton Lane’s previous quarterly dividend of $0.54. Hamilton Lane’s payout ratio is currently 40.61%.

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

Insider Buying and Selling

In related news, Chairman Hartley R. Rogers acquired 55,000 shares of the company’s stock in a transaction that occurred on Tuesday, May 26th. The stock was acquired at an average price of $90.05 per share, with a total value of $4,952,750.00. Following the purchase, the chairman directly owned 55,000 shares in the company, valued at approximately $4,952,750. This trade represents a ∞ increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. 22.21% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Hamilton Lane

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Quarry LP raised its stake in shares of Hamilton Lane by 2,557.1% during the third quarter. Quarry LP now owns 186 shares of the company’s stock valued at $25,000 after acquiring an additional 179 shares during the last quarter. Advisory Services Network LLC bought a new position in shares of Hamilton Lane during the third quarter valued at $26,000. Cornerstone Planning Group LLC raised its stake in shares of Hamilton Lane by 347.7% during the third quarter. Cornerstone Planning Group LLC now owns 197 shares of the company’s stock valued at $27,000 after acquiring an additional 153 shares during the last quarter. Hantz Financial Services Inc. raised its stake in shares of Hamilton Lane by 80.5% during the third quarter. Hantz Financial Services Inc. now owns 213 shares of the company’s stock valued at $29,000 after acquiring an additional 95 shares during the last quarter. Finally, Parallel Advisors LLC raised its stake in shares of Hamilton Lane by 81.2% during the fourth quarter. Parallel Advisors LLC now owns 241 shares of the company’s stock valued at $32,000 after acquiring an additional 108 shares during the last quarter. 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.