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

Hamilton Lane Inc. (NASDAQ:HLNE)’s share price fell 6.8% during mid-day trading on Thursday . The stock traded as low as $85.16 and last traded at $84.3390. 43,017 shares traded hands 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.

Analysts Set New Price Targets

Several brokerages have recently issued reports on HLNE. Morgan Stanley cut their target price on shares of Hamilton Lane from $159.00 to $141.00 and set an “equal weight” rating on the stock in a report on Tuesday, April 21st. BMO Capital Markets cut their target price 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. The Goldman Sachs Group set a $148.00 target price on shares of Hamilton Lane and gave the stock a “buy” rating in a report on Friday, May 22nd. Keefe, Bruyette & Woods restated an “outperform” rating on shares of Hamilton Lane in a report on Friday, May 22nd. Finally, UBS Group cut their target price on shares of Hamilton Lane from $184.00 to $150.00 and set a “buy” rating on the stock in a report on Friday, February 20th. Six equities research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $150.00.

Hamilton Lane Price Performance

The business has a 50 day moving average of $95.05 and a 200 day moving average of $116.94. The company has a market cap of $4.87 billion, a PE ratio of 14.73 and a beta of 1.18.

Hamilton Lane (NASDAQ:HLNE) last announced its quarterly earnings results on Thursday, May 21st. The company reported $1.49 EPS for the quarter, topping analysts’ consensus estimates of $1.43 by $0.06. The company had revenue of $193.57 million during the quarter, compared to analyst estimates 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% on a year-over-year basis. During the same quarter last year, the firm posted $1.21 earnings per share. Sell-side analysts forecast that Hamilton Lane Inc. will post 6.18 EPS for the current fiscal year.

Hamilton Lane Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, July 7th. Stockholders of record on Thursday, June 18th will be issued a dividend of $0.60 per share. This is a boost from Hamilton Lane’s previous quarterly dividend of $0.54. The ex-dividend date is Thursday, June 18th. This represents a $2.40 dividend on an annualized basis and a dividend yield of 2.8%. Hamilton Lane’s dividend payout ratio (DPR) is presently 36.55%.

Hamilton Lane announced that its Board of Directors has approved a share buyback plan on Thursday, May 21st that allows the company to buyback $100.00 million in outstanding shares. This buyback authorization allows the company to reacquire up to 2% of its stock through open market purchases. Stock buyback plans are often an indication that the company’s management believes its stock is undervalued.

Institutional Trading of Hamilton Lane

A number of hedge funds have recently modified their holdings of HLNE. Millennium Management LLC boosted its holdings in shares of Hamilton Lane by 418.8% during the 3rd quarter. Millennium Management LLC now owns 1,060,511 shares of the company’s stock valued at $142,946,000 after buying an additional 856,112 shares in the last quarter. Principal Financial Group Inc. boosted its holdings 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 valued at $145,844,000 after buying an additional 648,588 shares in the last quarter. Norges Bank bought a new stake in shares of Hamilton Lane during the 4th quarter valued at $68,657,000. Balyasny Asset Management L.P. boosted its holdings in shares of Hamilton Lane by 117.8% during the 4th quarter. Balyasny Asset Management L.P. now owns 756,148 shares of the company’s stock valued at $101,558,000 after buying an additional 409,013 shares in the last quarter. Finally, Westfield Capital Management Co. LP bought a new stake in shares of Hamilton Lane during the 4th quarter valued at $48,820,000. 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.