Oppenheimer Cuts Hamilton Lane (NASDAQ:HLNE) Price Target to $174.00

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

HLNE has been the topic of a number of other research reports. Keefe, Bruyette & Woods decreased their price objective on shares of Hamilton Lane from $115.00 to $105.00 and set an “outperform” rating on the stock in a research report on Friday, July 10th. BMO Capital Markets set a $94.00 target price on shares of Hamilton Lane in a report on Monday, July 13th. Weiss Ratings reissued a “hold (c)” rating on shares of Hamilton Lane in a research note on Wednesday, June 3rd. Zacks Research downgraded Hamilton Lane from a “strong-buy” rating to a “hold” rating in a report on Monday, April 6th. Finally, JPMorgan Chase & Co. lowered their price target on Hamilton Lane from $166.00 to $148.00 and set an “overweight” rating for the company in a research report on Monday, May 18th. Six equities research analysts have rated the stock with a Buy rating and three have given a Hold rating to the stock. According to data from MarketBeat, Hamilton Lane presently has a consensus rating of “Moderate Buy” and a consensus target price of $134.29.

Hamilton Lane Stock Performance

Shares of Hamilton Lane stock opened at $85.85 on Friday. Hamilton Lane has a 52-week low of $71.88 and a 52-week high of $161.13. The stock has a market capitalization of $4.77 billion, a price-to-earnings ratio of 14.53 and a beta of 1.16. The company’s 50 day moving average price is $82.87 and its 200-day moving average price is $104.43.

Hamilton Lane (NASDAQ:HLNE) last issued its earnings results on Thursday, May 21st. The company reported $1.49 EPS for the quarter, topping the consensus estimate of $1.43 by $0.06. The company had revenue of $193.57 million for 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 for the quarter was down 2.2% on a year-over-year basis. During the same period in the previous year, the firm earned $1.21 earnings per share. As a group, equities research analysts forecast that Hamilton Lane will post 6.33 earnings per share for the current fiscal year.

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

Hamilton Lane Increases Dividend

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

Insider Activity at Hamilton Lane

In related news, COO Andrea Anigati Kramer purchased 1,283 shares of the business’s stock in a transaction that occurred on Thursday, June 11th. The shares were bought at an average price 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 represents a 1.49% increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Chairman Hartley R. Rogers acquired 55,000 shares of Hamilton Lane stock in a transaction that occurred on Tuesday, May 26th. The shares were bought at an average cost of $90.05 per share, with a total value of $4,952,750.00. Following the transaction, the chairman owned 55,000 shares in the company, valued at $4,952,750. This represents a ∞ increase in their ownership of the stock. The SEC filing for this purchase provides additional information. Insiders have bought 95,039 shares of company stock valued at $8,100,739 over the last quarter. Company insiders own 22.21% of the company’s stock.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the stock. Royal Bank of Canada raised its position in shares of Hamilton Lane by 6.0% in the 1st quarter. Royal Bank of Canada now owns 52,466 shares of the company’s stock worth $7,800,000 after purchasing an additional 2,948 shares during the last quarter. Jones Financial Companies Lllp increased its stake in Hamilton Lane by 4,806.7% during the 1st quarter. Jones Financial Companies Lllp now owns 5,103 shares of the company’s stock valued at $759,000 after purchasing an additional 4,999 shares in the last quarter. Geneos Wealth Management Inc. increased its stake in Hamilton Lane by 196.9% during the 1st quarter. Geneos Wealth Management Inc. now owns 383 shares of the company’s stock valued at $57,000 after purchasing an additional 254 shares in the last quarter. First Trust Advisors LP raised its holdings in Hamilton Lane by 26.7% in the second quarter. First Trust Advisors LP now owns 31,483 shares of the company’s stock worth $4,474,000 after buying an additional 6,636 shares during the last quarter. Finally, Amundi raised its holdings in Hamilton Lane by 39,766.7% in the second quarter. Amundi now owns 2,392 shares of the company’s stock worth $347,000 after buying an additional 2,386 shares during the last quarter. Hedge funds and other institutional investors own 97.40% of the company’s stock.

Hamilton Lane Company Profile

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.