Hamilton Lane Inc. (NASDAQ:HLNE – Get Free Report)’s stock price fell 6.3% during mid-day trading on Monday . The company traded as low as $72.94 and last traded at $72.90. Approximately 408,109 shares changed hands during trading, a decline of 51% from the average session volume of 840,375 shares. The stock had previously closed at $77.77.
Analyst Ratings Changes
Several equities research analysts have weighed in on HLNE shares. Zacks Research cut Hamilton Lane from a “strong-buy” rating to a “hold” rating in a report on Monday, April 6th. Keefe, Bruyette & Woods restated an “outperform” rating on shares of Hamilton Lane in a report on Friday, May 22nd. 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. Oppenheimer decreased their price objective on shares of Hamilton Lane from $179.00 to $176.00 and set an “outperform” rating for the company in a report on Thursday, June 18th. Finally, Weiss Ratings reaffirmed a “hold (c)” rating on shares of Hamilton Lane in a research note on Wednesday, June 3rd. Six equities research analysts have rated the stock with a Buy rating and four have given a Hold rating to the company. Based on data from MarketBeat.com, Hamilton Lane has a consensus rating of “Moderate Buy” and an average price target of $149.62.
View Our Latest Stock Analysis on HLNE
Hamilton Lane Stock Down 4.0%
Hamilton Lane (NASDAQ:HLNE – Get Free Report) last posted its quarterly earnings data on Thursday, May 21st. The company reported $1.49 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.43 by $0.06. Hamilton Lane had a return on equity of 25.98% and a net margin of 32.83%.The business had revenue of $193.57 million during the quarter, compared to the consensus estimate of $203.05 million. During the same quarter in the prior year, the company earned $1.21 earnings per share. The firm’s quarterly revenue was down 2.2% compared to the same quarter last year. As a group, equities analysts expect that Hamilton Lane Inc. will post 6.33 EPS for the current fiscal year.
Hamilton Lane Increases Dividend
The firm also recently declared a quarterly dividend, which will be paid on Tuesday, July 7th. Investors of record on Thursday, June 18th will be given a dividend of $0.60 per share. This is an increase from Hamilton Lane’s previous quarterly dividend of $0.54. The ex-dividend date of this dividend is Thursday, June 18th. This represents a $2.40 dividend on an annualized basis and a yield of 3.2%. Hamilton Lane’s dividend payout ratio is 40.61%.
Hamilton Lane declared that its Board of Directors has initiated a share repurchase plan on Thursday, May 21st that allows the company to buyback $100.00 million in shares. This buyback authorization allows the company to repurchase up to 2% of its shares through open market purchases. Shares buyback plans are generally an indication that the company’s board of directors believes its stock is undervalued.
Insider Activity
In other Hamilton Lane news, Chairman Hartley R. Rogers bought 38,290 shares of the stock in a transaction dated Thursday, June 11th. The stock was purchased at an average cost of $78.49 per share, for a total transaction of $3,005,382.10. Following the completion of the acquisition, 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 ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, COO Andrea Anigati Kramer purchased 1,283 shares of the company’s stock in a transaction dated 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 completion of the transaction, the chief operating officer owned 87,350 shares in the company, valued at approximately $6,766,131. This represents a 1.49% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. Insiders have purchased 95,039 shares of company stock worth $8,100,739 in the last three months. 22.21% of the stock is currently owned by insiders.
Institutional Inflows and Outflows
A number of institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Quarry LP raised its stake in Hamilton Lane by 2,557.1% during the third quarter. Quarry LP now owns 186 shares of the company’s stock valued at $25,000 after buying an additional 179 shares during the last quarter. Advisory Services Network LLC bought a new position in shares of Hamilton Lane during the third quarter valued at $26,000. Parallel Advisors LLC raised its position in shares of Hamilton Lane by 81.2% in the 4th quarter. Parallel Advisors LLC now owns 241 shares of the company’s stock worth $32,000 after purchasing an additional 108 shares during the last quarter. Geneos Wealth Management Inc. raised its position in shares of Hamilton Lane by 196.9% in the 1st quarter. Geneos Wealth Management Inc. now owns 383 shares of the company’s stock worth $57,000 after purchasing an additional 254 shares during the last quarter. Finally, Whittier Trust Co. of Nevada Inc. boosted its stake in Hamilton Lane by 27.7% in the 4th quarter. Whittier Trust Co. of Nevada Inc. now owns 415 shares of the company’s stock worth $61,000 after purchasing an additional 90 shares in the last quarter. Institutional investors 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.
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