Analysts Set Hamilton Lane Inc. (NASDAQ:HLNE) Target Price at $134.29

Shares of Hamilton Lane Inc. (NASDAQ:HLNE) have been given a consensus rating of “Moderate Buy” by the nine research firms that are covering the company, MarketBeat reports. Three analysts have rated the stock with a hold recommendation and six have given a buy recommendation to the company. The average 1 year price target among brokerages that have issued a report on the stock in the last year is $131.7143.

A number of equities analysts have commented on the stock. Weiss Ratings cut shares of Hamilton Lane from a “hold (c)” rating to a “hold (c-)” rating in a research note on Monday, July 20th. Morgan Stanley lowered their price target on shares of Hamilton Lane from $141.00 to $123.00 and set an “equal weight” rating for the company in a report on Tuesday. Oppenheimer dropped their price target on Hamilton Lane from $176.00 to $174.00 and set an “outperform” rating for the company in a research report on Friday, July 17th. JPMorgan Chase & Co. reduced their price objective on Hamilton Lane from $166.00 to $148.00 and set an “overweight” rating on the stock in a research note on Monday, May 18th. Finally, The Goldman Sachs Group decreased their price objective 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.

Insider Buying and Selling

In related news, Chairman Hartley R. Rogers purchased 55,000 shares of the firm’s stock in a transaction dated Tuesday, May 26th. The stock was purchased at an average price of $90.05 per share, with a total value of $4,952,750.00. Following the completion of the purchase, the chairman owned 55,000 shares of the company’s stock, valued at approximately $4,952,750. The trade was a ∞ increase in their position. The acquisition was disclosed in a filing with the SEC, which is available at the SEC website. Also, COO Andrea Anigati Kramer acquired 1,283 shares of the stock in a transaction that occurred on Thursday, June 11th. The stock was acquired at an average cost of $77.46 per share, with a total value of $99,381.18. Following the completion of the purchase, the chief operating officer owned 87,350 shares of the company’s stock, valued at $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. In the last ninety days, insiders have bought 95,039 shares of company stock worth $8,100,739. Insiders own 22.21% of the company’s stock.

Institutional Investors Weigh In On Hamilton Lane

Hedge funds and other institutional investors have recently bought and sold shares of the company. Millennium Management LLC grew its stake in shares of Hamilton Lane by 418.8% during the third quarter. Millennium Management LLC now owns 1,060,511 shares of the company’s stock worth $142,946,000 after acquiring an additional 856,112 shares during the last quarter. Principal Financial Group Inc. raised its position in shares of Hamilton Lane by 148.3% in the 4th quarter. Principal Financial Group Inc. now owns 1,085,850 shares of the company’s stock valued at $145,844,000 after purchasing an additional 648,588 shares during the last quarter. Norges Bank acquired a new stake in Hamilton Lane in the 4th quarter worth approximately $68,657,000. Balyasny Asset Management L.P. boosted its stake in Hamilton Lane by 117.8% in the 4th quarter. Balyasny Asset Management L.P. now owns 756,148 shares of the company’s stock worth $101,558,000 after purchasing an additional 409,013 shares in the last quarter. Finally, Westfield Capital Management Co. LP purchased a new stake in Hamilton Lane during the 4th quarter worth approximately $48,820,000. Hedge funds and other institutional investors own 97.40% of the company’s stock.

Hamilton Lane Trading Up 2.5%

Shares of HLNE stock opened at $83.16 on Friday. The stock has a market capitalization of $4.62 billion, a price-to-earnings ratio of 14.07 and a beta of 1.16. Hamilton Lane has a 12-month low of $71.88 and a 12-month high of $161.13. The stock’s 50-day moving average price is $82.45 and its 200-day moving average price is $102.81.

Hamilton Lane (NASDAQ:HLNE) last posted its earnings results on Thursday, May 21st. The company reported $1.49 earnings per share for the quarter, beating analysts’ consensus estimates of $1.43 by $0.06. The firm had revenue of $193.57 million during the quarter, compared to analyst estimates of $203.05 million. Hamilton Lane had a net margin of 32.83% and a return on equity of 25.98%. Hamilton Lane’s revenue for the quarter was down 2.2% compared to the same quarter last year. During the same period last year, the firm posted $1.21 earnings per share. As a group, research analysts predict that Hamilton Lane will post 6.45 EPS for the current fiscal year.

Hamilton Lane Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, July 7th. Investors of record on Thursday, June 18th were issued a dividend of $0.60 per share. This represents a $2.40 annualized dividend and a yield of 2.9%. The ex-dividend date was Thursday, June 18th. This is a positive change from Hamilton Lane’s previous quarterly dividend of $0.54. Hamilton Lane’s payout ratio is currently 40.61%.

Hamilton Lane declared that its Board of Directors has approved a stock repurchase plan on Thursday, May 21st that permits the company to buyback $100.00 million in outstanding shares. This buyback authorization permits the company to purchase up to 2% of its stock through open market purchases. Stock buyback plans are generally a sign that the company’s management believes its stock is undervalued.

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.