Oppenheimer Has Lowered Expectations for Hamilton Lane (NASDAQ:HLNE) Stock Price

Hamilton Lane (NASDAQ:HLNE) had its price objective dropped by equities researchers at Oppenheimer from $176.00 to $174.00 in a research report issued on Friday,Benzinga reports. The firm currently has an “outperform” rating on the stock. Oppenheimer’s price target would suggest a potential upside of 104.31% from the stock’s previous close.

A number of other equities research analysts have also weighed in on HLNE. BMO Capital Markets set a $94.00 price objective on Hamilton Lane in a report on Monday. Morgan Stanley lowered their price objective on shares of Hamilton Lane from $159.00 to $141.00 and set an “equal weight” rating on the stock in a research note on Tuesday, April 21st. Zacks Research downgraded Hamilton Lane from a “strong-buy” rating to a “hold” rating in a research report on Monday, April 6th. Weiss Ratings reissued a “hold (c)” rating on shares of Hamilton Lane in a research note on Wednesday, June 3rd. Finally, The Goldman Sachs Group reduced their target price on Hamilton Lane from $148.00 to $128.00 and set a “buy” rating on the stock in a research report on Tuesday, June 30th. Six research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $134.29.

Hamilton Lane Stock Performance

NASDAQ HLNE traded down $0.73 during trading on Friday, reaching $85.17. The company’s stock had a trading volume of 169,424 shares, compared to its average volume of 833,385. Hamilton Lane has a twelve month low of $71.88 and a twelve month high of $161.13. The business’s fifty day moving average price is $82.93 and its 200-day moving average price is $104.79. The firm has a market cap of $4.73 billion, a price-to-earnings ratio of 14.42 and a beta of 1.16.

Hamilton Lane (NASDAQ:HLNE) last posted its quarterly earnings data on Thursday, May 21st. The company reported $1.49 EPS for the quarter, beating the consensus estimate of $1.43 by $0.06. The firm had revenue of $193.57 million during the quarter, compared to the consensus estimate of $203.05 million. Hamilton Lane had a return on equity of 25.98% and a net margin of 32.83%.The firm’s revenue was down 2.2% compared to the same quarter last year. During the same period in the prior year, the business earned $1.21 EPS. As a group, sell-side analysts forecast that Hamilton Lane will post 6.33 EPS for the current fiscal year.

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

Insider Buying and Selling at Hamilton Lane

In related news, Chairman Hartley R. Rogers bought 38,290 shares of the firm’s stock in a transaction dated 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 completion of the transaction, the chairman directly owned 93,756 shares of the company’s stock, valued at approximately $7,358,908.44. This represents a 69.03% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, COO Andrea Anigati Kramer bought 1,283 shares of the stock in a transaction dated Thursday, June 11th. The stock was bought at an average price of $77.46 per share, with a total value of $99,381.18. Following the purchase, the chief operating officer owned 87,350 shares of the company’s stock, valued at approximately $6,766,131. This represents a 1.49% increase in their position. The disclosure for this purchase is available in the SEC filing. Over the last quarter, insiders purchased 95,039 shares of company stock valued at $8,100,739. 22.21% of the stock is owned by insiders.

Hedge Funds Weigh In On Hamilton Lane

Institutional investors and hedge funds have recently bought and sold shares of the stock. Quarry LP grew 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 acquiring an additional 179 shares in the last quarter. Advisory Services Network LLC purchased a new position in shares of Hamilton Lane in the third quarter valued at $26,000. Parallel Advisors LLC boosted its stake in shares of Hamilton Lane by 81.2% in the fourth quarter. Parallel Advisors LLC now owns 241 shares of the company’s stock valued at $32,000 after purchasing an additional 108 shares during the period. Geneos Wealth Management Inc. grew its holdings in Hamilton Lane by 196.9% during the 1st quarter. Geneos Wealth Management Inc. now owns 383 shares of the company’s stock valued at $57,000 after purchasing an additional 254 shares in the last quarter. Finally, Harbor Investment Advisory LLC acquired a new stake in Hamilton Lane during the 2nd quarter valued at $58,000. Hedge funds and other institutional investors own 97.40% of the company’s stock.

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.