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

Hamilton Lane Inc. (NASDAQ:HLNE) hit a new 52-week low during mid-day trading on Tuesday . The stock traded as low as $75.77 and last traded at $75.86, with a volume of 286738 shares trading hands. The stock had previously closed at $79.51.

Wall Street Analyst Weigh In

Several research analysts have recently commented on the company. The Goldman Sachs Group set a $148.00 target price on Hamilton Lane and gave the stock a “buy” rating in a research report on Friday, May 22nd. Oppenheimer reduced their price objective on Hamilton Lane from $179.00 to $176.00 and set an “outperform” rating on the stock in a research note on Thursday, June 18th. Keefe, Bruyette & Woods reiterated an “outperform” rating on shares of Hamilton Lane in a research note on Friday, May 22nd. JPMorgan Chase & Co. reduced 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, BMO Capital Markets lowered their price objective on shares of Hamilton Lane from $108.00 to $102.00 and set an “outperform” rating for the company in a research report on Friday, May 22nd. 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, the stock has an average rating of “Moderate Buy” and a consensus target price of $149.62.

Hamilton Lane Stock Performance

The firm has a market cap of $4.18 billion, a price-to-earnings ratio of 12.71 and a beta of 1.14. The stock’s fifty day moving average is $89.38 and its two-hundred day moving average is $111.42.

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

Hamilton Lane Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 7th. Stockholders of record on Thursday, June 18th will be given a dividend of $0.60 per share. This is a boost from Hamilton Lane’s previous quarterly dividend of $0.54. This represents a $2.40 annualized dividend and a dividend yield of 3.2%. 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 allows the company to repurchase $100.00 million in shares. This repurchase authorization allows the company to repurchase up to 2% of its shares through open market purchases. Shares repurchase programs are generally a sign that the company’s board of directors believes its stock is undervalued.

Insider Activity at Hamilton Lane

In other Hamilton Lane news, Chairman Hartley R. Rogers purchased 38,290 shares of the stock in a transaction dated Thursday, June 11th. The shares were bought at an average cost of $78.49 per share, with a total value of $3,005,382.10. Following the completion of the acquisition, the chairman owned 93,756 shares of the company’s stock, valued at approximately $7,358,908.44. This trade represents a 69.03% increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, COO Andrea Anigati Kramer acquired 1,283 shares of Hamilton Lane stock in a transaction that occurred on Thursday, June 11th. The stock was bought at an average cost of $77.46 per share, with a total value of $99,381.18. Following the acquisition, the chief operating officer directly owned 87,350 shares of the company’s stock, valued at approximately $6,766,131. This trade represents a 1.49% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. Over the last 90 days, insiders purchased 95,039 shares of company stock worth $8,100,739. 22.21% of the stock is owned by insiders.

Institutional Trading of Hamilton Lane

A number of hedge funds and other institutional investors have recently made changes to their positions in HLNE. Royal Bank of Canada increased its stake in shares of Hamilton Lane by 6.0% during the first quarter. Royal Bank of Canada now owns 52,466 shares of the company’s stock valued at $7,800,000 after acquiring an additional 2,948 shares during the period. Jones Financial Companies Lllp lifted its position in Hamilton Lane by 4,806.7% in the first quarter. Jones Financial Companies Lllp now owns 5,103 shares of the company’s stock worth $759,000 after purchasing an additional 4,999 shares during the period. Geneos Wealth Management Inc. lifted its position in Hamilton Lane by 196.9% in the first quarter. Geneos Wealth Management Inc. now owns 383 shares of the company’s stock worth $57,000 after purchasing an additional 254 shares during the period. First Trust Advisors LP boosted its stake in Hamilton Lane by 26.7% during the 2nd quarter. First Trust Advisors LP now owns 31,483 shares of the company’s stock valued at $4,474,000 after purchasing an additional 6,636 shares in the last quarter. Finally, Amundi boosted its stake in Hamilton Lane by 39,766.7% during the 2nd quarter. Amundi now owns 2,392 shares of the company’s stock valued at $347,000 after purchasing an additional 2,386 shares in the last quarter. 97.40% of the stock is currently owned by institutional investors.

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.