Hamilton Lane (NASDAQ:HLNE) Price Target Cut to $105.00 by Analysts at Keefe, Bruyette & Woods

Hamilton Lane (NASDAQ:HLNE) had its price target dropped by analysts at Keefe, Bruyette & Woods from $115.00 to $105.00 in a research note issued to investors on Friday,Benzinga reports. The brokerage currently has an “outperform” rating on the stock. Keefe, Bruyette & Woods’ price objective indicates a potential upside of 30.26% from the stock’s previous close.

HLNE has been the topic of a number of other research reports. Morgan Stanley lowered their price objective on 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. The Goldman Sachs Group cut their target price on Hamilton Lane from $148.00 to $128.00 and set a “buy” rating for the company in a research note on Tuesday, June 30th. Zacks Research lowered Hamilton Lane from a “strong-buy” rating to a “hold” rating in a report on Monday, April 6th. Oppenheimer lowered their price target on shares of Hamilton Lane from $179.00 to $176.00 and set an “outperform” rating on the stock in a research report on Thursday, June 18th. Finally, Weiss Ratings reiterated a “hold (c)” rating on shares of Hamilton Lane in a report on Wednesday, June 3rd. Six investment analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $139.00.

Hamilton Lane Trading Up 2.1%

HLNE stock opened at $80.61 on Friday. The firm has a 50-day moving average of $83.62 and a two-hundred day moving average of $106.74. Hamilton Lane has a 12 month low of $71.88 and a 12 month high of $161.13. The company has a market cap of $4.48 billion, a price-to-earnings ratio of 13.64 and a beta of 1.16.

Hamilton Lane (NASDAQ:HLNE) last issued its earnings results on Thursday, May 21st. The company reported $1.49 earnings per share for the quarter, topping the consensus estimate of $1.43 by $0.06. The business had revenue of $193.57 million for the quarter, compared to analysts’ expectations of $203.05 million. Hamilton Lane had a return on equity of 25.98% and a net margin of 32.83%.The business’s revenue for the quarter was down 2.2% compared to the same quarter last year. During the same period in the previous year, the firm posted $1.21 EPS. As a group, equities analysts forecast that Hamilton Lane will post 6.33 earnings per share for the current year.

Hamilton Lane declared that its board 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 purchase up to 2% of its stock through open market purchases. Stock buyback programs are often an indication that the company’s management believes its stock is undervalued.

Insider Transactions at Hamilton Lane

In other Hamilton Lane news, Chairman Hartley R. Rogers acquired 38,290 shares of the business’s stock in a transaction that occurred on Thursday, June 11th. The stock was purchased at an average cost of $78.49 per share, with a total value of $3,005,382.10. Following the transaction, 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 ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, COO Andrea Anigati Kramer acquired 1,283 shares of Hamilton Lane stock in a transaction that occurred on Thursday, June 11th. The stock was bought at an average price of $77.46 per share, for a total transaction of $99,381.18. Following the completion of the acquisition, the chief operating officer owned 87,350 shares in the company, valued at $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. Insiders have purchased a total of 95,039 shares of company stock valued at $8,100,739 over the last three months. Corporate insiders own 22.21% of the company’s stock.

Hedge Funds Weigh In On Hamilton Lane

Large investors have recently made changes to their positions in the stock. Quarry LP lifted its holdings in shares of Hamilton Lane by 2,557.1% in the 3rd quarter. Quarry LP now owns 186 shares of the company’s stock worth $25,000 after acquiring an additional 179 shares during the last quarter. Advisory Services Network LLC acquired a new stake in Hamilton Lane in the 3rd quarter valued at approximately $26,000. Parallel Advisors LLC increased its holdings in Hamilton Lane by 81.2% in 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 last quarter. Geneos Wealth Management Inc. raised its position in Hamilton Lane by 196.9% in the first 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 acquired a new position in Hamilton Lane during the second quarter worth $58,000. 97.40% of the stock is currently owned by institutional investors and hedge funds.

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.