Hamilton Lane (NASDAQ:HLNE) Reaches New 52-Week Low – What’s Next?

Hamilton Lane Inc. (NASDAQ:HLNE) reached a new 52-week low during trading on Tuesday . The stock traded as low as $75.77 and last traded at $75.86, with a volume of 286738 shares changing hands. The stock had previously closed at $79.51.

Wall Street Analysts Forecast Growth

Several research firms have recently issued reports on HLNE. Zacks Research lowered shares of Hamilton Lane from a “strong-buy” rating to a “hold” rating in a research report on Monday, April 6th. 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. BMO Capital Markets dropped their price objective on shares of Hamilton Lane from $108.00 to $102.00 and set an “outperform” rating on the stock in a research note on Friday, May 22nd. Keefe, Bruyette & Woods restated an “outperform” rating on shares of Hamilton Lane in a research note on Friday, May 22nd. Finally, The Goldman Sachs Group set a $148.00 price target on shares of Hamilton Lane and gave the company a “buy” rating in a report on Friday, May 22nd. Six analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $149.62.

Hamilton Lane Stock Up 2.4%

The firm has a market cap of $4.20 billion, a P/E ratio of 12.72 and a beta of 1.14. The business’s 50 day moving average is $88.55 and its 200-day moving average is $110.74.

Hamilton Lane (NASDAQ:HLNE) last announced its quarterly earnings data 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 company 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%. The firm’s revenue for the quarter was down 2.2% compared to the same quarter last year. During the same period last year, the business earned $1.21 EPS. As a group, equities analysts predict that Hamilton Lane Inc. will post 6.33 earnings per share for the current year.

Hamilton Lane Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, July 7th. Stockholders of record on Thursday, June 18th will be given a $0.60 dividend. This represents a $2.40 annualized dividend and a dividend yield of 3.2%. The ex-dividend date is Thursday, June 18th. This is a positive change from Hamilton Lane’s previous quarterly dividend of $0.54. Hamilton Lane’s payout ratio is 40.61%.

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

Insider Activity at Hamilton Lane

In other 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 acquired 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 in the company, valued at approximately $7,358,908.44. The trade was a 69.03% increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, COO Andrea Anigati Kramer acquired 1,283 shares of Hamilton Lane stock in a transaction that occurred on Thursday, June 11th. The shares were purchased at an average price of $77.46 per share, for a total transaction of $99,381.18. Following the completion of the purchase, the chief operating officer directly 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 disclosure for this purchase is available in the SEC filing. Over the last three months, insiders have purchased 95,039 shares of company stock worth $8,100,739. Corporate insiders own 22.21% of the company’s stock.

Hedge Funds Weigh In On Hamilton Lane

Large investors have recently bought and sold shares of the business. Argent Capital Management LLC boosted its position in Hamilton Lane by 53.9% during the 1st quarter. Argent Capital Management LLC now owns 55,236 shares of the company’s stock valued at $5,490,000 after purchasing an additional 19,345 shares during the period. Edgestream Partners L.P. acquired a new stake in Hamilton Lane in the first quarter worth $233,000. Janus Henderson Group PLC lifted its stake in Hamilton Lane by 12.9% in the first quarter. Janus Henderson Group PLC now owns 905,660 shares of the company’s stock valued at $90,045,000 after buying an additional 103,663 shares during the last quarter. Amundi boosted its holdings in shares of Hamilton Lane by 18.9% during the first quarter. Amundi now owns 24,167 shares of the company’s stock valued at $2,402,000 after acquiring an additional 3,833 shares during the period. Finally, California State Teachers Retirement System boosted its holdings in shares of Hamilton Lane by 24.2% during the first quarter. California State Teachers Retirement System now owns 49,007 shares of the company’s stock valued at $4,871,000 after acquiring an additional 9,556 shares during the period. Institutional investors own 97.40% of the company’s stock.

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.