Oppenheimer Cuts Hamilton Lane (NASDAQ:HLNE) Price Target to $181.00

Hamilton Lane (NASDAQ:HLNE) had its target price reduced by Oppenheimer from $182.00 to $181.00 in a report released on Thursday morning,Benzinga reports. They currently have an outperform rating on the stock.

Other equities research analysts also recently issued reports about the stock. UBS Group increased their price objective on shares of Hamilton Lane from $114.00 to $131.00 and gave the stock a “buy” rating in a research note on Wednesday, August 5th. BMO Capital Markets set a $94.00 target price on shares of Hamilton Lane in a research report on Monday, July 13th. The Goldman Sachs Group cut their price target on shares of Hamilton Lane from $148.00 to $128.00 and set a “buy” rating for the company in a report on Tuesday, June 30th. Morgan Stanley reduced their price target on shares of Hamilton Lane from $141.00 to $123.00 and set an “equal weight” rating on the stock in a research report on Tuesday, July 21st. Finally, Weiss Ratings cut shares of Hamilton Lane from a “hold (c)” rating to a “hold (c-)” rating in a research note on Monday, July 20th. One analyst has rated the stock with a Strong Buy rating, six have given a Buy rating and two have assigned a Hold rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $131.57.

Hamilton Lane Stock Performance

NASDAQ:HLNE opened at $106.04 on Thursday. The company has a market cap of $5.89 billion, a price-to-earnings ratio of 16.16 and a beta of 1.14. Hamilton Lane has a fifty-two week low of $71.88 and a fifty-two week high of $155.66. The company has a debt-to-equity ratio of 0.16, a quick ratio of 3.49 and a current ratio of 3.49. The stock has a fifty day moving average price of $90.42 and a 200-day moving average price of $94.82.

Hamilton Lane (NASDAQ:HLNE) last issued its quarterly earnings results on Tuesday, August 4th. The company reported $1.94 EPS for the quarter, topping analysts’ consensus estimates of $1.53 by $0.41. The company had revenue of $275.33 million for the quarter, compared to analysts’ expectations of $221.94 million. Hamilton Lane had a return on equity of 25.10% and a net margin of 32.14%.Hamilton Lane’s revenue was up 56.5% on a year-over-year basis. During the same quarter last year, the business earned $1.47 earnings per share. As a group, equities analysts anticipate that Hamilton Lane will post 6.95 EPS for the current fiscal year.

Hamilton Lane announced that its Board of Directors has authorized a share repurchase program on Thursday, May 21st that permits the company to buyback $100.00 million in outstanding shares. This buyback authorization permits the company to reacquire up to 2% of its stock through open market purchases. Stock buyback programs are often a sign that the company’s leadership believes its stock is undervalued.

Hamilton Lane Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 6th. Investors of record on Monday, September 21st will be given a dividend of $0.60 per share. The ex-dividend date is Monday, September 21st. This represents a $2.40 dividend on an annualized basis and a yield of 2.3%. Hamilton Lane’s payout ratio is currently 36.59%.

Insider Transactions at Hamilton Lane

In other news, Chairman Hartley R. Rogers bought 38,290 shares of the company’s stock in a transaction on Thursday, June 11th. The stock was purchased at an average cost of $78.49 per share, for a total transaction of $3,005,382.10. Following the completion of the transaction, the chairman owned 93,756 shares of the company’s stock, valued at $7,358,908.44. This trade represents a 69.03% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available at this link. Also, COO Andrea Anigati Kramer bought 1,283 shares of the company’s stock in a transaction on Thursday, June 11th. The stock was purchased at an average price of $77.46 per share, with a total value of $99,381.18. Following the completion of the transaction, the chief operating officer directly owned 87,350 shares of the company’s stock, valued at approximately $6,766,131. The trade was a 1.49% increase in their position. The disclosure for this purchase is available in the SEC filing. 23.99% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in the business. Quarry LP grew its holdings in Hamilton Lane by 2,557.1% during the 3rd quarter. Quarry LP now owns 186 shares of the company’s stock worth $25,000 after acquiring an additional 179 shares during the last quarter. Advisory Services Network LLC acquired a new position in Hamilton Lane in the 3rd quarter valued at approximately $26,000. Parallel Advisors LLC increased its position in Hamilton Lane by 81.2% in the 4th 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 period. Geneos Wealth Management Inc. raised its stake in shares of Hamilton Lane by 196.9% during the first quarter. Geneos Wealth Management Inc. now owns 383 shares of the company’s stock valued at $57,000 after acquiring an additional 254 shares during the last quarter. Finally, Hantz Financial Services Inc. raised its stake in shares of Hamilton Lane by 139.4% during the fourth quarter. Hantz Financial Services Inc. now owns 510 shares of the company’s stock valued at $68,000 after acquiring an additional 297 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.