Hamilton Lane (NASDAQ:HLNE) Trading Down 6.3% – What’s Next?

Hamilton Lane Inc. (NASDAQ:HLNE)’s share price traded down 6.3% during mid-day trading on Monday . The stock traded as low as $72.94 and last traded at $72.90. Approximately 408,109 shares traded hands during mid-day trading, a decline of 51% from the average daily volume of 840,375 shares. The stock had previously closed at $77.77.

Analysts Set New Price Targets

Several research analysts have recently issued reports on the stock. Keefe, Bruyette & Woods reiterated an “outperform” rating on shares of Hamilton Lane in a research note on Friday, May 22nd. Morgan Stanley decreased their price objective on shares of Hamilton Lane from $159.00 to $141.00 and set an “equal weight” rating for the company in a report on Tuesday, April 21st. JPMorgan Chase & Co. lowered their price objective on Hamilton Lane from $166.00 to $148.00 and set an “overweight” rating on the stock in a research report on Monday, May 18th. BMO Capital Markets reduced their target price on Hamilton Lane from $108.00 to $102.00 and set an “outperform” rating for the company in a report on Friday, May 22nd. Finally, Weiss Ratings restated a “hold (c)” rating on shares of Hamilton Lane in a research note on Wednesday, June 3rd. Six equities research analysts have rated the stock with a Buy rating and four have given a Hold rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $149.62.

Hamilton Lane Stock Performance

The business’s fifty day moving average price is $87.49 and its 200-day moving average price is $110.05. The stock has a market cap of $4.15 billion, a PE ratio of 12.63 and a beta of 1.15.

Hamilton Lane (NASDAQ:HLNE) last released its quarterly earnings data on Thursday, May 21st. The company reported $1.49 earnings per share for the quarter, beating the consensus estimate of $1.43 by $0.06. Hamilton Lane had a net margin of 32.83% and a return on equity of 25.98%. The firm had revenue of $193.57 million during the quarter, compared to analysts’ expectations of $203.05 million. During the same period in the previous year, the company earned $1.21 earnings per share. The firm’s quarterly revenue was down 2.2% on a year-over-year basis. Analysts forecast that Hamilton Lane Inc. will post 6.33 earnings per share for the current fiscal year.

Hamilton Lane Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, July 7th. Shareholders of record on Thursday, June 18th will be given a $0.60 dividend. This is a boost from Hamilton Lane’s previous quarterly dividend of $0.54. The ex-dividend date of this dividend is Thursday, June 18th. This represents a $2.40 dividend on an annualized basis and a yield of 3.2%. Hamilton Lane’s payout ratio is presently 40.61%.

Hamilton Lane announced that its board has approved a share repurchase program 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 programs are generally an indication that the company’s management believes its stock is undervalued.

Insider Buying and Selling at Hamilton Lane

In other news, Chairman Hartley R. Rogers acquired 55,000 shares of the business’s stock in a transaction that occurred on Tuesday, May 26th. The stock was bought at an average price of $90.05 per share, with a total value of $4,952,750.00. Following the completion of the acquisition, the chairman directly owned 55,000 shares of the company’s stock, valued at approximately $4,952,750. The trade was a ∞ increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, COO Andrea Anigati Kramer acquired 1,283 shares of Hamilton Lane stock in a transaction that occurred on Thursday, June 11th. The shares were purchased at an average price of $77.46 per share, with a total value of $99,381.18. Following the transaction, the chief operating officer owned 87,350 shares of the company’s stock, valued at $6,766,131. The trade was a 1.49% increase in their position. The disclosure for this purchase is available in the SEC filing. Insiders have bought a total of 95,039 shares of company stock worth $8,100,739 over the last three months. Insiders own 22.21% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of the company. Millennium Management LLC grew its stake in shares of Hamilton Lane by 418.8% during the 3rd quarter. Millennium Management LLC now owns 1,060,511 shares of the company’s stock valued at $142,946,000 after purchasing an additional 856,112 shares during the period. Principal Financial Group Inc. boosted its holdings in shares of Hamilton Lane by 148.3% in the fourth quarter. Principal Financial Group Inc. now owns 1,085,850 shares of the company’s stock worth $145,844,000 after buying an additional 648,588 shares during the last quarter. Norges Bank bought a new stake in Hamilton Lane during the fourth quarter valued at approximately $68,657,000. Balyasny Asset Management L.P. increased its holdings in Hamilton Lane by 117.8% during the fourth quarter. Balyasny Asset Management L.P. now owns 756,148 shares of the company’s stock valued at $101,558,000 after buying an additional 409,013 shares during the last quarter. Finally, Westfield Capital Management Co. LP purchased a new stake in Hamilton Lane during the fourth quarter valued at approximately $48,820,000. 97.40% of the stock is owned by hedge funds and other institutional investors.

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.