Oppenheimer Cuts Hamilton Lane (NASDAQ:HLNE) Price Target to $181.00

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

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

Hamilton Lane Price Performance

Shares of NASDAQ HLNE opened at $108.47 on Thursday. The company has a current ratio of 3.49, a quick ratio of 3.49 and a debt-to-equity ratio of 0.16. 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 twelve month low of $71.88 and a twelve month high of $156.15. The business has a 50 day simple moving average of $89.45 and a 200-day simple moving average of $94.91.

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

Hamilton Lane declared that its board has approved a stock repurchase program on Thursday, May 21st that permits the company to buyback $100.00 million in shares. This buyback authorization permits the company to buy up to 2% of its stock through open market purchases. Stock buyback programs are typically a sign that the company’s board believes its shares are undervalued.

Insider Activity

In other news, COO Andrea Anigati Kramer acquired 1,283 shares of the business’s stock in a transaction that occurred on Thursday, June 11th. The shares were purchased at an average cost of $77.46 per share, for a total transaction of $99,381.18. Following the transaction, the chief operating officer directly owned 87,350 shares in the company, valued at $6,766,131. This trade represents a 1.49% increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Chairman Hartley R. Rogers bought 38,290 shares of Hamilton Lane stock in a transaction on Thursday, June 11th. The shares were purchased at an average cost of $78.49 per share, with a total value of $3,005,382.10. Following the completion of the purchase, the chairman directly owned 93,756 shares in the company, valued at $7,358,908.44. This trade represents a 69.03% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. Company insiders own 23.99% of the company’s stock.

Hedge Funds Weigh In On Hamilton Lane

Several hedge funds and other institutional investors have recently made changes to their positions in the business. California State Teachers Retirement System lifted its holdings in Hamilton Lane by 7,651.1% in the second quarter. California State Teachers Retirement System now owns 3,798,581 shares of the company’s stock worth $299,442,000 after purchasing an additional 3,749,574 shares during the period. Millennium Management LLC increased its stake in 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 during the period. Principal Financial Group Inc. increased its stake in 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 during the period. Norges Bank bought a new stake in shares of Hamilton Lane during the 4th quarter worth about $68,657,000. Finally, Balyasny Asset Management L.P. raised its position 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 worth $101,558,000 after buying an additional 409,013 shares in the last quarter. 97.40% of the stock is currently owned by institutional investors and hedge funds.

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.