Oppenheimer Lowers Hamilton Lane (NASDAQ:HLNE) Price Target to $176.00

Hamilton Lane (NASDAQ:HLNE) had its target price decreased by stock analysts at Oppenheimer from $179.00 to $176.00 in a research note issued to investors on Thursday,Benzinga reports. The brokerage currently has an “outperform” rating on the stock. Oppenheimer’s target price points to a potential upside of 114.37% from the company’s current price.

Other equities research analysts have also recently issued reports about the stock. BMO Capital Markets decreased their target price on Hamilton Lane from $108.00 to $102.00 and set an “outperform” rating for the company in a research report on Friday, May 22nd. Zacks Research lowered Hamilton Lane from a “strong-buy” rating to a “hold” rating in a research note on Monday, April 6th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Hamilton Lane in a research note on Wednesday, June 3rd. JPMorgan Chase & Co. dropped their target price on shares of Hamilton Lane from $166.00 to $148.00 and set an “overweight” rating on the stock in a report on Monday, May 18th. 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 equities research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the stock. Based on data from MarketBeat.com, Hamilton Lane presently has a consensus rating of “Moderate Buy” and a consensus target price of $149.63.

Hamilton Lane Stock Performance

HLNE stock traded up $0.70 during midday trading on Thursday, reaching $82.10. 424,692 shares of the company traded hands, compared to its average volume of 814,641. Hamilton Lane has a 52-week low of $75.93 and a 52-week high of $161.13. The business has a 50 day moving average of $90.27 and a 200-day moving average of $112.29. The firm has a market capitalization of $4.56 billion, a price-to-earnings ratio of 13.91 and a beta of 1.14.

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

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

Insider Buying and Selling at Hamilton Lane

In related news, COO Andrea Anigati Kramer acquired 1,283 shares of the stock in a transaction dated Thursday, June 11th. The stock was acquired at an average cost of $77.46 per share, for a total transaction of $99,381.18. Following the completion of the purchase, the chief operating officer owned 87,350 shares of the company’s stock, valued at approximately $6,766,131. This represents a 1.49% increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Chairman Hartley R. Rogers acquired 55,000 shares of the stock in a transaction dated Tuesday, May 26th. The shares were bought at an average price of $90.05 per share, with a total value of $4,952,750.00. Following the completion of the purchase, the chairman directly owned 55,000 shares of the company’s stock, valued at approximately $4,952,750. This trade represents a ? increase in their position. The SEC filing for this purchase provides additional information. Insiders acquired 95,039 shares of company stock worth $8,100,739 over the last ninety days. Corporate insiders own 22.21% of the company’s stock.

Institutional Investors Weigh In On Hamilton Lane

Institutional investors and hedge funds have recently made changes to their positions in the stock. Argent Capital Management LLC lifted its position in Hamilton Lane by 53.9% during the first 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 position in Hamilton Lane during the first quarter valued at $233,000. Janus Henderson Group PLC lifted its position in Hamilton Lane by 12.9% during the first quarter. Janus Henderson Group PLC now owns 905,660 shares of the company’s stock valued at $90,045,000 after purchasing an additional 103,663 shares during the period. Amundi lifted its position in 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 purchasing an additional 3,833 shares during the period. Finally, California State Teachers Retirement System lifted its position in 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 purchasing an additional 9,556 shares during the period. 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.