Oppenheimer Lowers Hamilton Lane (NASDAQ:HLNE) Price Target to $176.00

Hamilton Lane (NASDAQ:HLNE) had its price objective dropped by stock analysts at Oppenheimer from $179.00 to $176.00 in a report released on Thursday,Benzinga reports. The brokerage presently has an “outperform” rating on the stock. Oppenheimer’s target price indicates a potential upside of 114.37% from the company’s current price.

HLNE has been the subject of a number of other research reports. JPMorgan Chase & Co. cut their price objective on shares of Hamilton Lane from $166.00 to $148.00 and set an “overweight” rating for the company in a report on Monday, May 18th. Keefe, Bruyette & Woods reissued an “outperform” rating on shares of Hamilton Lane in a research note on Friday, May 22nd. UBS Group cut their target price on shares of Hamilton Lane from $184.00 to $150.00 and set a “buy” rating for the company in a research note on Friday, February 20th. Zacks Research cut shares of Hamilton Lane from a “strong-buy” rating to a “hold” rating in a research note on Monday, April 6th. Finally, Morgan Stanley cut their target price 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 research analysts have rated the stock with a Buy rating and four have given a Hold rating to the company’s stock. Based on data from MarketBeat, Hamilton Lane currently has an average rating of “Moderate Buy” and an average price target of $149.63.

Hamilton Lane Trading Up 0.9%

HLNE traded up $0.70 on Thursday, reaching $82.10. The stock had a trading volume of 424,692 shares, compared to its average volume of 814,641. Hamilton Lane has a 12-month low of $75.93 and a 12-month high of $161.13. The business’s 50-day moving average price is $90.27 and its two-hundred day moving average price is $112.29. The company has a market cap of $4.56 billion, a P/E ratio of 13.91 and a beta of 1.14.

Hamilton Lane (NASDAQ:HLNE) last released its quarterly earnings data on Thursday, May 21st. The company reported $1.49 earnings per share 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 company had revenue of $193.57 million during the quarter, compared to analysts’ expectations of $203.05 million. During the same quarter in the previous year, the company earned $1.21 earnings per share. The firm’s revenue for the quarter was down 2.2% on a year-over-year basis. As a group, analysts predict that Hamilton Lane will post 6.33 earnings per share for the current year.

Hamilton Lane announced that its Board of Directors has initiated a stock repurchase plan on Thursday, May 21st that allows the company to buyback $100.00 million in shares. This buyback authorization allows the company to buy up to 2% of its shares through open market purchases. Shares buyback plans are generally an indication that the company’s management believes its shares are undervalued.

Insider Activity

In other Hamilton Lane news, Chairman Hartley R. Rogers acquired 38,290 shares of the company’s stock in a transaction that occurred on Thursday, June 11th. The stock was bought at an average price of $78.49 per share, with a total value of $3,005,382.10. Following the purchase, the chairman owned 93,756 shares in the company, valued at approximately $7,358,908.44. The trade was a 69.03% increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, COO Andrea Anigati Kramer bought 1,283 shares of the firm’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 acquisition, 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 ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. In the last ninety days, insiders have purchased 95,039 shares of company stock valued at $8,100,739. 22.21% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Hamilton Lane

Institutional investors and hedge funds have recently bought and sold shares of the company. Jefferies Financial Group Inc. boosted its holdings 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 purchasing an additional 58,291 shares during the last quarter. Artisan Partners Limited Partnership boosted its holdings in Hamilton Lane by 24.8% in the 3rd quarter. Artisan Partners Limited Partnership now owns 318,111 shares of the company’s stock valued at $42,878,000 after purchasing an additional 63,220 shares during the last quarter. Principal Financial Group Inc. boosted its holdings in Hamilton Lane by 148.3% in the 4th quarter. Principal Financial Group Inc. now owns 1,085,850 shares of the company’s stock valued at $145,844,000 after purchasing an additional 648,588 shares during the last quarter. Danske Bank A S boosted its holdings in Hamilton Lane by 19,024.0% in the 4th 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 boosted its holdings in Hamilton Lane by 541.8% in the 4th 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.

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.