Hamilton Lane (NASDAQ:HLNE) Trading Down 6.8% – What’s Next?

Hamilton Lane Inc. (NASDAQ:HLNE)’s share price traded down 6.8% during mid-day trading on Thursday . The company traded as low as $85.16 and last traded at $84.3390. 43,017 shares were traded during mid-day trading, a decline of 94% from the average session volume of 769,076 shares. The stock had previously closed at $90.49.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently issued reports on the stock. The Goldman Sachs Group set a $148.00 price target on shares of Hamilton Lane and gave the stock a “buy” rating in a report on Friday, May 22nd. BMO Capital Markets lowered their price target on shares of Hamilton Lane from $108.00 to $102.00 and set an “outperform” rating on the stock in a report on Friday, May 22nd. Oppenheimer increased their price target on shares of Hamilton Lane from $171.00 to $179.00 and gave the stock an “outperform” rating in a report on Friday, May 22nd. JPMorgan Chase & Co. lowered their price target on shares of Hamilton Lane from $166.00 to $148.00 and set an “overweight” rating on the stock in a report on Monday, May 18th. Finally, Zacks Research downgraded shares of Hamilton Lane from a “strong-buy” rating to a “hold” rating in a report on Monday, April 6th. Six investment analysts have rated the stock with a Buy rating and four have given a Hold rating to the company. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $150.00.

Hamilton Lane Stock Down 3.6%

The company’s 50-day moving average is $95.05 and its two-hundred day moving average is $116.94. The company has a market capitalization of $4.87 billion, a P/E ratio of 14.73 and a beta of 1.18.

Hamilton Lane (NASDAQ:HLNE) last issued its quarterly earnings results on Thursday, May 21st. The company reported $1.49 EPS for the quarter, beating analysts’ consensus estimates of $1.43 by $0.06. Hamilton Lane had a net margin of 32.83% and a return on equity of 25.98%. The business had revenue of $193.57 million for the quarter, compared to analysts’ expectations of $203.05 million. During the same period last year, the business earned $1.21 earnings per share. The business’s quarterly revenue was down 2.2% on a year-over-year basis. On average, sell-side analysts predict that Hamilton Lane Inc. will post 6.18 EPS for the current year.

Hamilton Lane Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, July 7th. Shareholders of record on Thursday, June 18th will be given a dividend of $0.60 per share. The ex-dividend date is Thursday, June 18th. 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%. Hamilton Lane’s dividend payout ratio (DPR) is 36.55%.

Hamilton Lane declared that its Board of Directors has approved a share repurchase plan on Thursday, May 21st that allows the company to buyback $100.00 million in outstanding shares. This buyback authorization allows the company to purchase up to 2% of its stock through open market purchases. Stock buyback plans are typically a sign that the company’s board of directors believes its shares are undervalued.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of the business. Whittier Trust Co. of Nevada Inc. grew its holdings in shares of Hamilton Lane by 27.7% in the fourth quarter. Whittier Trust Co. of Nevada Inc. now owns 415 shares of the company’s stock worth $61,000 after purchasing an additional 90 shares during the last quarter. Hantz Financial Services Inc. grew its holdings in shares of Hamilton Lane by 80.5% in the third quarter. Hantz Financial Services Inc. now owns 213 shares of the company’s stock worth $29,000 after purchasing an additional 95 shares during the last quarter. State of Michigan Retirement System grew its holdings in shares of Hamilton Lane by 1.0% in the fourth quarter. State of Michigan Retirement System now owns 9,700 shares of the company’s stock worth $1,303,000 after purchasing an additional 100 shares during the last quarter. Steward Partners Investment Advisory LLC grew its holdings in shares of Hamilton Lane by 12.9% in the fourth quarter. Steward Partners Investment Advisory LLC now owns 899 shares of the company’s stock worth $121,000 after purchasing an additional 103 shares during the last quarter. Finally, Parallel Advisors LLC grew its holdings in shares of Hamilton Lane by 81.2% in the fourth quarter. Parallel Advisors LLC now owns 241 shares of the company’s stock worth $32,000 after purchasing an additional 108 shares during the last quarter. 97.40% of the stock is currently owned by institutional investors.

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.