Oppenheimer Has Lowered Expectations for Hamilton Lane (NASDAQ:HLNE) Stock Price

Hamilton Lane (NASDAQ:HLNE) had its price target decreased by equities researchers at Oppenheimer from $176.00 to $174.00 in a note issued to investors on Friday,Benzinga reports. The brokerage presently has an “outperform” rating on the stock. Oppenheimer’s price objective indicates a potential upside of 102.68% from the company’s current price.

A number of other analysts have also commented on HLNE. Keefe, Bruyette & Woods cut 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. The Goldman Sachs Group decreased their target price on shares of Hamilton Lane from $148.00 to $128.00 and set a “buy” rating for the company in a research report on Tuesday, June 30th. Weiss Ratings reiterated a “hold (c)” rating on shares of Hamilton Lane in a research note on Wednesday, June 3rd. JPMorgan Chase & Co. cut their price target on shares of Hamilton Lane from $166.00 to $148.00 and set an “overweight” rating on the stock in a research report on Monday, May 18th. Finally, Morgan Stanley decreased their price objective on Hamilton Lane from $159.00 to $141.00 and set an “equal weight” rating for the company in a report on Tuesday, April 21st. Six research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $134.29.

Hamilton Lane Stock Performance

NASDAQ:HLNE opened at $85.85 on Friday. The stock has a 50-day simple moving average of $82.87 and a 200 day simple moving average of $104.66. Hamilton Lane has a 52-week low of $71.88 and a 52-week high of $161.13. The company has a market cap of $4.77 billion, a PE ratio of 14.53 and a beta of 1.16.

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

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

Insiders Place Their Bets

In other news, COO Andrea Anigati Kramer purchased 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 purchase, the chief operating officer directly owned 87,350 shares in the company, valued at $6,766,131. The trade was a 1.49% 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, Chairman Hartley R. Rogers acquired 55,000 shares of the firm’s stock in a transaction dated Tuesday, May 26th. The stock was purchased 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 approximately $4,952,750. This trade represents a ∞ increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. Over the last 90 days, insiders have purchased 95,039 shares of company stock worth $8,100,739. 22.21% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Hamilton Lane

Several hedge funds have recently bought and sold shares of the company. Jefferies Financial Group Inc. raised its stake in Hamilton Lane by 145.9% in the 4th quarter. Jefferies Financial Group Inc. now owns 98,241 shares of the company’s stock valued at $13,195,000 after acquiring an additional 58,291 shares during the period. Principal Financial Group Inc. boosted its position in Hamilton Lane by 148.3% during the fourth quarter. Principal Financial Group Inc. now owns 1,085,850 shares of the company’s stock worth $145,844,000 after purchasing an additional 648,588 shares during the period. Vaughan Nelson Investment Management L.P. bought a new position in Hamilton Lane during the fourth quarter worth $40,855,000. Danske Bank A S increased its holdings in shares of Hamilton Lane by 19,024.0% in the fourth quarter. Danske Bank A S now owns 19,124 shares of the company’s stock valued at $2,569,000 after purchasing an additional 19,024 shares during the last quarter. Finally, SG Americas Securities LLC increased its holdings in shares of Hamilton Lane by 541.8% in the fourth quarter. SG Americas Securities LLC now owns 71,717 shares of the company’s stock valued at $9,632,000 after purchasing an additional 60,542 shares during the last quarter. 97.40% of the stock is currently owned by institutional investors and hedge funds.

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.