Hamilton Lane (NASDAQ:HLNE) Hits New 12-Month Low – Here’s What Happened

Hamilton Lane Inc. (NASDAQ:HLNE) shares hit a new 52-week low on Thursday . The company traded as low as $76.05 and last traded at $77.9070, with a volume of 17548 shares trading hands. The stock had previously closed at $78.09.

Analyst Upgrades and Downgrades

A number of equities research analysts have weighed in on the stock. Oppenheimer lifted their price target on shares of Hamilton Lane from $171.00 to $179.00 and gave the company an “outperform” rating in a research report on Friday, May 22nd. Zacks Research lowered shares of Hamilton Lane from a “strong-buy” rating to a “hold” rating in a research note on Monday, April 6th. Keefe, Bruyette & Woods reissued an “outperform” rating on shares of Hamilton Lane in a research note on Friday, May 22nd. Weiss Ratings reissued a “hold (c)” rating on shares of Hamilton Lane in a research note on Wednesday, June 3rd. Finally, Morgan Stanley lowered their price objective on shares of Hamilton Lane from $159.00 to $141.00 and set an “equal weight” rating for the company in a research note on Tuesday, April 21st. Six analysts have rated the stock with a Buy rating and four have given a Hold rating to the stock. Based on data from MarketBeat.com, Hamilton Lane has a consensus rating of “Moderate Buy” and an average price target of $150.00.

Hamilton Lane Price Performance

The company’s 50 day moving average price is $91.69 and its 200 day moving average price is $113.70. The firm has a market cap of $4.25 billion, a PE ratio of 12.95 and a beta of 1.14.

Hamilton Lane (NASDAQ:HLNE) last issued its quarterly earnings results on Thursday, May 21st. The company reported $1.49 earnings per share (EPS) for the quarter, topping 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 company had revenue of $193.57 million during the quarter, compared to the consensus estimate of $203.05 million. During the same quarter in the previous year, the firm earned $1.21 earnings per share. The firm’s quarterly revenue was down 2.2% on a year-over-year basis. Sell-side analysts expect that Hamilton Lane Inc. will post 6.33 earnings per share for the current fiscal year.

Hamilton Lane Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, July 7th. Investors of record on Thursday, June 18th will be paid a $0.60 dividend. 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 3.1%. The ex-dividend date is Thursday, June 18th. 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 permits the company to repurchase $100.00 million in shares. This repurchase authorization permits the company to reacquire up to 2% of its stock through open market purchases. Stock repurchase programs are usually a sign that the company’s leadership believes its shares are undervalued.

Insider Transactions at Hamilton Lane

In other news, Chairman Hartley R. Rogers purchased 55,000 shares of the firm’s stock in a transaction that occurred on Tuesday, May 26th. The stock was bought at an average price of $90.05 per share, for a total transaction of $4,952,750.00. Following the completion of the purchase, the chairman directly owned 55,000 shares of the company’s stock, valued at $4,952,750. The trade was a ∞ increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. 22.21% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the company. Artisan Partners Limited Partnership lifted its position in shares of Hamilton Lane by 24.8% during the 3rd quarter. Artisan Partners Limited Partnership now owns 318,111 shares of the company’s stock worth $42,878,000 after buying an additional 63,220 shares during the last quarter. Jefferies Financial Group Inc. lifted its position in shares of Hamilton Lane by 145.9% during the 4th quarter. Jefferies Financial Group Inc. now owns 98,241 shares of the company’s stock worth $13,195,000 after buying an additional 58,291 shares during the last quarter. Principal Financial Group Inc. lifted its position in shares of Hamilton Lane by 148.3% during the 4th quarter. Principal Financial Group Inc. now owns 1,085,850 shares of the company’s stock worth $145,844,000 after buying an additional 648,588 shares during the last quarter. Danske Bank A S lifted its position in shares of Hamilton Lane by 19,024.0% during the 4th quarter. Danske Bank A S now owns 19,124 shares of the company’s stock worth $2,569,000 after buying an additional 19,024 shares during the last quarter. Finally, SG Americas Securities LLC lifted its position in shares of Hamilton Lane by 541.8% during the 4th quarter. SG Americas Securities LLC now owns 71,717 shares of the company’s stock worth $9,632,000 after buying an additional 60,542 shares during the last quarter. Hedge funds and other institutional investors own 97.40% of the company’s stock.

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.