Keefe, Bruyette & Woods Has Lowered Expectations for Hamilton Lane (NASDAQ:HLNE) Stock Price

Hamilton Lane (NASDAQ:HLNE) had its price target reduced by analysts at Keefe, Bruyette & Woods from $115.00 to $105.00 in a research note issued to investors on Friday,Benzinga reports. The firm 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.

A number of other research analysts also recently weighed in on the stock. Weiss Ratings reiterated a “hold (c)” rating on shares of Hamilton Lane in a research report on Wednesday, June 3rd. Morgan Stanley dropped their target price on Hamilton Lane from $159.00 to $141.00 and set an “equal weight” rating on the stock in a research report on Tuesday, April 21st. JPMorgan Chase & Co. cut their price target on Hamilton Lane from $166.00 to $148.00 and set an “overweight” rating for the company in a research note on Monday, May 18th. Zacks Research cut Hamilton Lane from a “strong-buy” rating to a “hold” rating in a report on Monday, April 6th. Finally, Oppenheimer lowered their price target on Hamilton Lane from $179.00 to $176.00 and set an “outperform” rating on the stock in a research report on Thursday, June 18th. Six equities research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the stock. According to MarketBeat, Hamilton Lane has a consensus rating of “Moderate Buy” and a consensus target price of $139.00.

Hamilton Lane Price Performance

NASDAQ:HLNE opened at $80.61 on Friday. The firm has a market cap of $4.48 billion, a price-to-earnings ratio of 13.64 and a beta of 1.16. The company has a 50 day moving average price of $83.62 and a 200-day moving average price of $106.74. Hamilton Lane has a 1-year low of $71.88 and a 1-year high of $161.13.

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

Hamilton Lane announced that its Board of Directors has initiated a stock buyback plan on Thursday, May 21st that authorizes the company to repurchase $100.00 million in outstanding shares. This repurchase authorization authorizes the company to reacquire up to 2% of its stock through open market purchases. Stock repurchase plans are typically an indication that the company’s leadership believes its shares are undervalued.

Insider Transactions at Hamilton Lane

In related news, Chairman Hartley R. Rogers purchased 38,290 shares of Hamilton Lane stock in a transaction that occurred on Thursday, June 11th. The stock was purchased at an average price of $78.49 per share, for a total transaction of $3,005,382.10. Following the transaction, the chairman directly owned 93,756 shares in the company, valued at approximately $7,358,908.44. This trade represents a 69.03% increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which is available through the SEC website. Also, COO Andrea Anigati Kramer purchased 1,283 shares of Hamilton Lane stock in a transaction that occurred on Thursday, June 11th. The shares were bought at an average price of $77.46 per share, with a total value of $99,381.18. Following the transaction, the chief operating officer owned 87,350 shares in the company, valued at approximately $6,766,131. The trade was a 1.49% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. Insiders have bought 95,039 shares of company stock valued at $8,100,739 in the last three months. Corporate insiders own 22.21% of the company’s stock.

Hedge Funds Weigh In On Hamilton Lane

Hedge funds have recently made changes to their positions in the company. Quarry LP boosted its stake in shares of Hamilton Lane by 2,557.1% in the third 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 position in Hamilton Lane in the 3rd quarter valued at $26,000. Parallel Advisors LLC raised its stake 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. lifted its holdings in Hamilton Lane by 196.9% in 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 in the last quarter. Finally, Harbor Investment Advisory LLC purchased a new position in Hamilton Lane in the 2nd quarter valued at $58,000. Institutional investors and hedge funds own 97.40% of the company’s stock.

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.