Hamilton Lane (NASDAQ:HLNE) Stock Price Down 6.3% – What’s Next?

Shares of Hamilton Lane Inc. (NASDAQ:HLNE) fell 6.3% during mid-day trading on Monday . The company traded as low as $72.94 and last traded at $72.90. Approximately 408,109 shares traded hands during trading, a decline of 51% from the average session volume of 840,375 shares. The stock had previously closed at $77.77.

Wall Street Analyst Weigh In

Several equities analysts have commented on HLNE shares. Oppenheimer cut their price objective on Hamilton Lane from $179.00 to $176.00 and set an “outperform” rating on the stock in a research report on Thursday, June 18th. BMO Capital Markets lowered their target price on shares of Hamilton Lane from $108.00 to $102.00 and set an “outperform” rating for the company in a research note on Friday, May 22nd. Weiss Ratings restated a “hold (c)” rating on shares of Hamilton Lane in a report on Wednesday, June 3rd. The Goldman Sachs Group reduced their price target on shares of Hamilton Lane from $148.00 to $128.00 and set a “buy” rating on the stock in a research note on Tuesday. Finally, Zacks Research lowered shares of Hamilton Lane from a “strong-buy” rating to a “hold” rating in a report on Monday, April 6th. Six equities research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $147.12.

Hamilton Lane Trading Down 1.1%

The firm has a market cap of $4.33 billion, a P/E ratio of 13.22 and a beta of 1.14. The business has a 50-day moving average price of $86.35 and a 200-day moving average price of $109.29.

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, 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 analyst estimates of $203.05 million. During the same period in the prior year, the firm earned $1.21 earnings per share. The firm’s revenue for the quarter was down 2.2% compared to the same quarter last year. On average, equities analysts anticipate that Hamilton Lane Inc. will post 6.33 earnings per share for the current fiscal 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 paid 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 dividend on an annualized basis and a dividend yield of 3.1%. The ex-dividend date is Thursday, June 18th. Hamilton Lane’s payout ratio is 40.61%.

Hamilton Lane declared that its board has initiated 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 purchase up to 2% of its stock through open market purchases. Stock buyback plans are typically an indication that the company’s board believes its shares are undervalued.

Insider Activity at Hamilton Lane

In related news, COO Andrea Anigati Kramer bought 1,283 shares of the company’s stock in a transaction on Thursday, June 11th. The shares were acquired at an average price of $77.46 per share, with a total value of $99,381.18. Following the transaction, the chief operating officer owned 87,350 shares of the company’s stock, valued at $6,766,131. The trade was a 1.49% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Chairman Hartley R. Rogers purchased 55,000 shares of the business’s stock in a transaction dated 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 acquisition, the chairman directly owned 55,000 shares in the company, valued at approximately $4,952,750. This trade represents a ? increase in their position. The SEC filing for this purchase provides additional information. Over the last three months, insiders have purchased 95,039 shares of company stock worth $8,100,739. 22.21% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Hamilton Lane

A number of large investors have recently added to or reduced their stakes in the company. Jefferies Financial Group Inc. boosted its holdings in Hamilton Lane by 145.9% during the fourth 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 in the last quarter. Principal Financial Group Inc. raised its position in shares of Hamilton Lane by 148.3% in the fourth quarter. Principal Financial Group Inc. now owns 1,085,850 shares of the company’s stock worth $145,844,000 after acquiring an additional 648,588 shares during the period. Danske Bank A S boosted its stake 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 acquiring an additional 19,024 shares in the last quarter. SG Americas Securities LLC boosted its stake 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 acquiring an additional 60,542 shares in the last quarter. Finally, Champlain Investment Partners LLC grew its position in shares of Hamilton Lane by 33.8% during the 3rd quarter. Champlain Investment Partners LLC now owns 1,388,380 shares of the company’s stock valued at $187,140,000 after acquiring an additional 350,437 shares during the period. 97.40% of the stock is currently owned by institutional investors.

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.