Hamilton Lane (NASDAQ:HLNE) Stock Price Down 4.6% – Here’s Why

Hamilton Lane Inc. (NASDAQ:HLNE) shares traded down 4.6% during mid-day trading on Tuesday . The company traded as low as $84.84 and last traded at $84.2430. Approximately 96,493 shares traded hands during trading, a decline of 88% from the average daily volume of 786,418 shares. The stock had previously closed at $88.34.

Analyst Ratings Changes

Several research firms have weighed in on HLNE. UBS Group increased their target price on shares of Hamilton Lane from $114.00 to $131.00 and gave the stock a “buy” rating in a report on Wednesday, August 5th. The Goldman Sachs Group lowered their target price on Hamilton Lane from $148.00 to $128.00 and set a “buy” rating for the company in a research note on Tuesday, June 30th. Zacks Research upgraded shares of Hamilton Lane from a “hold” rating to a “strong-buy” rating in a report on Friday, August 7th. Oppenheimer dropped their price objective on shares of Hamilton Lane from $182.00 to $181.00 and set an “outperform” rating on the stock in a report on Thursday, August 27th. Finally, Keefe, Bruyette & Woods boosted their price objective on shares of Hamilton Lane from $105.00 to $116.00 and gave the company an “outperform” rating in a research report on Wednesday, August 5th. One equities research analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating and two have assigned a Hold rating to the company. According to MarketBeat.com, Hamilton Lane presently has a consensus rating of “Moderate Buy” and an average target price of $131.57.

Hamilton Lane Stock Down 2.9%

The firm’s 50 day simple moving average is $96.42 and its 200-day simple moving average is $92.65. The company has a current ratio of 3.49, a quick ratio of 3.49 and a debt-to-equity ratio of 0.16. The stock has a market capitalization of $4.76 billion, a price-to-earnings ratio of 13.01 and a beta of 1.19.

Hamilton Lane (NASDAQ:HLNE) last posted its quarterly earnings data 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 during the quarter, compared to the consensus estimate of $221.94 million. Hamilton Lane had a net margin of 32.14% and a return on equity of 25.10%. The company’s quarterly revenue was up 56.5% on a year-over-year basis. During the same period in the prior year, the business posted $1.47 EPS. Equities analysts expect that Hamilton Lane Inc. will post 7.25 earnings per share for the current fiscal year.

Hamilton Lane Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, October 6th. Shareholders of record on Monday, September 21st will be paid a $0.60 dividend. This represents a $2.40 dividend on an annualized basis and a yield of 2.8%. The ex-dividend date is Monday, September 21st. Hamilton Lane’s dividend payout ratio (DPR) is currently 36.59%.

Institutional Investors Weigh In On Hamilton Lane

A number of institutional investors and hedge funds have recently made changes to their positions in HLNE. Norges Bank bought a new position in shares of Hamilton Lane during the fourth quarter valued at about $68,657,000. Westfield Capital Management Co. LP bought a new position in Hamilton Lane in the 4th quarter worth $48,820,000. The Manufacturers Life Insurance Company boosted its stake in shares of Hamilton Lane by 1,039.7% during the 1st quarter. The Manufacturers Life Insurance Company now owns 335,903 shares of the company’s stock valued at $33,389,000 after purchasing an additional 306,429 shares in the last quarter. Squarepoint Ops LLC bought a new position in Hamilton Lane in the second quarter worth about $24,063,000. Finally, GW&K Investment Management LLC purchased a new stake in Hamilton Lane in the fourth quarter worth about $33,534,000. Institutional investors own 97.40% of the company’s stock.

Hamilton Lane Company Profile

Hamilton Lane Incorporated is a global investment management firm focused on private markets. The company provides investment solutions and advisory services across private equity, private credit, venture capital, infrastructure, real estate and other alternative investment strategies.

Its offerings include customized separate accounts, commingled funds, specialized funds and direct investment programs. Hamilton Lane also provides portfolio management, investment monitoring, due diligence, asset allocation and related advisory services to institutional investors, financial intermediaries and private wealth clients.

Founded in 1991, Hamilton Lane serves clients internationally through operations spanning North America, Europe, Asia-Pacific and the Middle East.