Hamilton Lane (NASDAQ:HLNE) Trading Down 4.7% Following Analyst Downgrade

Hamilton Lane Inc. (NASDAQ:HLNE) was down 4.7% on Monday after Oppenheimer lowered their price target on the stock from $176.00 to $174.00. Oppenheimer currently has an outperform rating on the stock. Hamilton Lane traded as low as $82.52 and last traded at $81.8110. 43,053 shares changed hands during mid-day trading, a decline of 95% from the average daily volume of 830,801 shares. The stock had previously closed at $85.85.

A number of other equities analysts have also recently commented on the stock. Zacks Research cut shares of Hamilton Lane from a “strong-buy” rating to a “hold” rating in a report on Monday, April 6th. The Goldman Sachs Group decreased their price target on shares of Hamilton Lane from $148.00 to $128.00 and set a “buy” rating for the company in a research note on Tuesday, June 30th. BMO Capital Markets set a $94.00 price objective on shares of Hamilton Lane in a research report on Monday, July 13th. JPMorgan Chase & Co. lowered their price objective 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, Weiss Ratings restated a “hold (c)” rating on shares of Hamilton Lane in a research note on Wednesday, June 3rd. Six investment analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, Hamilton Lane has an average rating of “Moderate Buy” and an average price target of $134.29.

Insider Buying and Selling

In related news, COO Andrea Anigati Kramer purchased 1,283 shares of the business’s stock in a transaction dated Thursday, June 11th. The stock was acquired 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 of the company’s stock, valued at $6,766,131. This trade represents a 1.49% increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Chairman Hartley R. Rogers purchased 55,000 shares of the firm’s stock in a transaction that occurred on Tuesday, May 26th. The shares were bought at an average cost of $90.05 per share, with a total value of $4,952,750.00. Following the completion of the acquisition, the chairman owned 55,000 shares of the company’s stock, valued at approximately $4,952,750. This trade represents a ∞ increase in their ownership of the stock. The SEC filing for this purchase provides additional information. In the last three months, insiders bought 95,039 shares of company stock worth $8,100,739. Corporate insiders own 22.21% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in HLNE. Quarry LP lifted its position in Hamilton Lane by 2,557.1% in the third quarter. Quarry LP now owns 186 shares of the company’s stock valued at $25,000 after purchasing an additional 179 shares during the period. Advisory Services Network LLC purchased a new position in shares of Hamilton Lane during the 3rd quarter worth approximately $26,000. Parallel Advisors LLC lifted its holdings in shares of 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 buying an additional 108 shares during the period. Geneos Wealth Management Inc. boosted its stake in shares of Hamilton Lane by 196.9% in the first quarter. Geneos Wealth Management Inc. now owns 383 shares of the company’s stock valued at $57,000 after buying an additional 254 shares in the last quarter. Finally, Harbor Investment Advisory LLC acquired a new position in Hamilton Lane during the second quarter worth $58,000. 97.40% of the stock is currently owned by institutional investors and hedge funds.

Hamilton Lane Stock Down 1.5%

The stock has a fifty day moving average of $82.79 and a two-hundred day moving average of $104.07. The stock has a market cap of $4.70 billion, a price-to-earnings ratio of 14.31 and a beta of 1.16.

Hamilton Lane (NASDAQ:HLNE) last issued its earnings results on Thursday, May 21st. The company reported $1.49 EPS for the quarter, topping the consensus estimate of $1.43 by $0.06. The company had revenue of $193.57 million for the quarter, compared to analyst estimates of $203.05 million. Hamilton Lane had a net margin of 32.83% and a return on equity of 25.98%. The business’s revenue was down 2.2% on a year-over-year basis. During the same period in the previous year, the firm earned $1.21 EPS. On average, research analysts expect that Hamilton Lane Inc. will post 6.33 EPS for the current year.

Hamilton Lane Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, July 7th. Investors of record on Thursday, June 18th were issued a dividend of $0.60 per share. This is an increase from Hamilton Lane’s previous quarterly dividend of $0.54. This represents a $2.40 dividend on an annualized basis and a yield of 2.8%. The ex-dividend date of this dividend was Thursday, June 18th. Hamilton Lane’s payout ratio is presently 40.61%.

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

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.