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

Hamilton Lane (NASDAQ:HLNE) had its price objective lowered by equities research analysts at Oppenheimer from $182.00 to $181.00 in a research report issued on Thursday,Benzinga reports. The firm currently has an “outperform” rating on the stock. Oppenheimer’s target price suggests a potential upside of 66.86% from the company’s previous close.

HLNE has been the subject of several other research reports. Morgan Stanley decreased their target price on Hamilton Lane from $141.00 to $123.00 and set an “equal weight” rating for the company in a research note on Tuesday, July 21st. Zacks Research upgraded shares of Hamilton Lane from a “hold” rating to a “strong-buy” rating in a research report on Friday, August 7th. BMO Capital Markets set a $94.00 price target on shares of Hamilton Lane in a report on Monday, July 13th. Keefe, Bruyette & Woods raised their price objective on shares of Hamilton Lane from $105.00 to $116.00 and gave the company an “outperform” rating in a research report on Wednesday, August 5th. Finally, JPMorgan Chase & Co. lowered their price objective on shares of Hamilton Lane from $166.00 to $148.00 and set an “overweight” rating on the stock in a research note on Monday, May 18th. One equities research analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating and two have assigned a Hold rating to the company. According to MarketBeat, Hamilton Lane presently has an average rating of “Moderate Buy” and a consensus target price of $131.57.

Hamilton Lane Stock Performance

HLNE opened at $108.47 on Thursday. The business has a 50 day moving average price of $89.45 and a two-hundred day moving average price of $94.91. The company has a debt-to-equity ratio of 0.16, a current ratio of 3.49 and a quick ratio of 3.49. The company has a market capitalization of $6.02 billion, a price-to-earnings ratio of 16.45 and a beta of 1.14. Hamilton Lane has a 1-year low of $71.88 and a 1-year high of $156.15.

Hamilton Lane (NASDAQ:HLNE) last issued its quarterly earnings results on Tuesday, August 4th. The company reported $1.94 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.53 by $0.41. Hamilton Lane had a return on equity of 25.10% and a net margin of 32.14%.The company had revenue of $275.33 million for the quarter, compared to analysts’ expectations of $221.94 million. During the same period last year, the firm earned $1.47 EPS. The firm’s revenue for the quarter was up 56.5% on a year-over-year basis. Research analysts predict that Hamilton Lane will post 6.95 EPS for the current fiscal year.

Hamilton Lane announced that its Board of Directors has initiated a share repurchase program on Thursday, May 21st that authorizes the company to buyback $100.00 million in outstanding shares. This buyback authorization authorizes the company to repurchase up to 2% of its shares through open market purchases. Shares buyback programs are typically a sign that the company’s leadership believes its shares are undervalued.

Insider Buying and Selling at Hamilton Lane

In related news, Chairman Hartley R. Rogers purchased 38,290 shares of the company’s stock in a transaction that occurred on Thursday, June 11th. The shares were purchased 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 of the company’s stock, valued at $7,358,908.44. This trade represents a 69.03% increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available at the SEC website. Also, COO Andrea Anigati Kramer acquired 1,283 shares of the business’s stock in a transaction on Thursday, June 11th. The shares were bought at an average price of $77.46 per share, for a total transaction of $99,381.18. Following the acquisition, the chief operating officer owned 87,350 shares in the company, valued at approximately $6,766,131. This trade represents a 1.49% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. Corporate insiders own 23.99% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in HLNE. Quarry LP lifted its position in shares of Hamilton Lane by 2,557.1% in the 3rd 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 Hamilton Lane during the 3rd quarter worth approximately $26,000. Parallel Advisors LLC raised its stake in Hamilton Lane by 81.2% during the 4th 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. raised its stake 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 during the period. Finally, Harbor Investment Advisory LLC purchased a new stake in shares of Hamilton Lane in the second quarter valued at $58,000. 97.40% of the stock is owned by hedge funds and other 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.