Hamilton Lane (NASDAQ:HLNE) Price Target Raised to $116.00

Hamilton Lane (NASDAQ:HLNE) had its price objective upped by Keefe, Bruyette & Woods from $105.00 to $116.00 in a research note issued to investors on Wednesday,Benzinga reports. Keefe, Bruyette & Woods currently has an outperform rating on the stock.

HLNE has been the subject of several other research reports. The Goldman Sachs Group decreased their price objective on shares of Hamilton Lane from $148.00 to $128.00 and set a “buy” rating for the company in a research note on Tuesday, June 30th. JPMorgan Chase & Co. cut their target price 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. Oppenheimer upped their target price on Hamilton Lane from $174.00 to $182.00 and gave the company an “outperform” rating in a report on Wednesday. Morgan Stanley decreased their price target on Hamilton Lane from $141.00 to $123.00 and set an “equal weight” rating for the company in a research report on Tuesday, July 21st. Finally, Weiss Ratings cut Hamilton Lane from a “hold (c)” rating to a “hold (c-)” rating in a research report on Monday, July 20th. Six research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $131.71.

Hamilton Lane Price Performance

HLNE stock opened at $101.03 on Wednesday. The company’s 50-day moving average is $83.68 and its 200-day moving average is $99.01. The stock has a market capitalization of $5.61 billion, a PE ratio of 15.40 and a beta of 1.14. 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 quarterly earnings results on Tuesday, August 4th. The company reported $1.94 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.53 by $0.41. The business had revenue of $275.33 million during the quarter, compared to the consensus estimate of $221.94 million. Hamilton Lane had a net margin of 32.14% and a return on equity of 25.10%. Hamilton Lane’s revenue was up 56.5% compared to the same quarter last year. During the same quarter last year, the firm posted $1.47 EPS. On average, analysts anticipate that Hamilton Lane will post 6.68 earnings per share for the current fiscal year.

Hamilton Lane Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 6th. Investors of record on Monday, September 21st will be given a $0.60 dividend. This represents a $2.40 dividend on an annualized basis and a dividend yield of 2.4%. The ex-dividend date is Monday, September 21st. Hamilton Lane’s dividend payout ratio (DPR) is 40.61%.

Hamilton Lane announced that its board has authorized a stock repurchase plan on Thursday, May 21st that allows the company to repurchase $100.00 million in outstanding shares. This repurchase authorization allows the company to reacquire up to 2% of its shares through open market purchases. Shares repurchase plans are often an indication that the company’s leadership believes its stock is undervalued.

Insider Buying and Selling at Hamilton Lane

In related news, COO Andrea Anigati Kramer bought 1,283 shares of the company’s stock in a transaction that occurred on Thursday, June 11th. The stock was bought at an average cost of $77.46 per share, for a total transaction of $99,381.18. Following the acquisition, 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 position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Chairman Hartley R. Rogers acquired 38,290 shares of the company’s stock in a transaction dated Thursday, June 11th. The shares were bought at an average cost of $78.49 per share, with a total value of $3,005,382.10. Following the purchase, the chairman owned 93,756 shares of the company’s stock, valued at approximately $7,358,908.44. This trade represents a 69.03% increase in their position. The SEC filing for this purchase provides additional information. In the last 90 days, insiders have bought 95,039 shares of company stock worth $8,100,739. Corporate insiders own 23.99% of the company’s stock.

Hedge Funds Weigh In On Hamilton Lane

Several hedge funds have recently made changes to their positions in the business. Quarry LP increased its stake 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 in the last quarter. Advisory Services Network LLC bought a new position in shares of Hamilton Lane during the third quarter valued at approximately $26,000. Parallel Advisors LLC lifted its holdings in shares of Hamilton Lane by 81.2% during the fourth 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 shares of Hamilton Lane by 196.9% during 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 last quarter. Finally, Harbor Investment Advisory LLC bought a new stake in shares of Hamilton Lane in the 2nd quarter worth approximately $58,000. 97.40% of the stock is owned by hedge funds and other institutional investors.

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.