Hamilton Lane (NASDAQ:HLNE) Price Target Cut to $105.00 by Analysts at Keefe, Bruyette & Woods

Hamilton Lane (NASDAQ:HLNE) had its target price lowered by Keefe, Bruyette & Woods from $115.00 to $105.00 in a report issued on Friday,Benzinga reports. The firm currently has an outperform rating on the stock.

Other research analysts also recently issued reports about the company. Zacks Research downgraded Hamilton Lane from a “strong-buy” rating to a “hold” rating in a research note on Monday, April 6th. JPMorgan Chase & Co. cut their price target on Hamilton Lane from $166.00 to $148.00 and set an “overweight” rating for the company in a research note on Monday, May 18th. BMO Capital Markets decreased their price target on Hamilton Lane from $108.00 to $102.00 and set an “outperform” rating for the company in a report on Friday, May 22nd. Oppenheimer lowered their price objective on shares of Hamilton Lane from $179.00 to $176.00 and set an “outperform” rating on the stock in a research report on Thursday, June 18th. Finally, Morgan Stanley dropped their price objective 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. Six analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $135.71.

Hamilton Lane Stock Performance

NASDAQ HLNE traded up $0.48 during trading on Friday, reaching $81.09. The company’s stock had a trading volume of 725,443 shares, compared to its average volume of 941,645. The business’s fifty day moving average price is $83.47 and its 200-day moving average price is $106.56. Hamilton Lane has a twelve month low of $71.88 and a twelve month high of $161.13. The firm has a market cap of $4.50 billion, a price-to-earnings ratio of 13.72 and a beta of 1.16.

Hamilton Lane (NASDAQ:HLNE) last announced its earnings results on Thursday, May 21st. The company reported $1.49 earnings per share for the quarter, topping 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 business’s quarterly 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 earnings per share. As a group, sell-side analysts forecast that Hamilton Lane will post 6.33 EPS for the current fiscal year.

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 given a dividend of $0.60 per share. This represents a $2.40 annualized dividend and a yield of 3.0%. The ex-dividend date was Thursday, June 18th. This is a positive change from Hamilton Lane’s previous quarterly dividend of $0.54. Hamilton Lane’s payout ratio is presently 40.61%.

Hamilton Lane declared that its Board of Directors has initiated a share repurchase program on Thursday, May 21st that allows the company to buyback $100.00 million in shares. This buyback authorization allows the company to repurchase up to 2% of its shares through open market purchases. Shares buyback programs are often an indication that the company’s management believes its stock is undervalued.

Insider Activity at Hamilton Lane

In other Hamilton Lane news, COO Andrea Anigati Kramer acquired 1,283 shares of the business’s stock in a transaction on Thursday, June 11th. The stock was purchased at an average price of $77.46 per share, for a total transaction of $99,381.18. Following the completion of 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Chairman Hartley R. Rogers bought 38,290 shares of Hamilton Lane stock in a transaction on Thursday, June 11th. The stock was acquired at an average cost of $78.49 per share, with a total value of $3,005,382.10. Following the acquisition, 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 position. The SEC filing for this purchase provides additional information. Insiders bought a total of 95,039 shares of company stock valued at $8,100,739 over the last three months. Insiders own 22.21% of the company’s stock.

Hedge Funds Weigh In On Hamilton Lane

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Quarry LP boosted its holdings in Hamilton Lane by 2,557.1% during the third quarter. Quarry LP now owns 186 shares of the company’s stock worth $25,000 after buying an additional 179 shares in the last quarter. Advisory Services Network LLC purchased a new position in Hamilton Lane in the third quarter valued at about $26,000. Parallel Advisors LLC increased its holdings in Hamilton Lane by 81.2% in the fourth quarter. Parallel Advisors LLC now owns 241 shares of the company’s stock valued at $32,000 after buying an additional 108 shares in the last quarter. Geneos Wealth Management Inc. lifted its position in shares of 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 acquiring an additional 254 shares during the period. Finally, Harbor Investment Advisory LLC acquired a new stake in shares of Hamilton Lane during the 2nd quarter valued at approximately $58,000. 97.40% of the stock is owned by institutional investors and hedge funds.

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.