Hamilton Lane (NASDAQ:HLNE) Shares Down 5.4% - Here's What Happened

Key Points

• Hamilton Lane Inc. shares decreased by 5.4% during trading on Wednesday, with the stock last priced at $142.45, significantly lower than the previous close of $150.65.
• Analysts have mixed ratings for Hamilton Lane, with Keefe, Bruyette & Woods raising the price target to $168, while Oppenheimer downgraded it to a "market perform" rating.
• The company reported earnings per share of $1.31 for the quarter, surpassing estimates and indicating a year-over-year revenue increase of 11.8%.

Hamilton Lane Inc. (NASDAQ:HLNE - Get Free Report) was down 5.4% during trading on Wednesday . The stock traded as low as $143.53 and last traded at $142.45. Approximately 370,767 shares traded hands during mid-day trading, a decline of 33% from the average daily volume of 552,729 shares. The stock had previously closed at $150.65.

Analyst Upgrades and Downgrades

Several equities research analysts have recently commented on HLNE shares. Keefe, Bruyette & Woods raised their target price on shares of Hamilton Lane from $160.00 to $168.00 and gave the stock a "market perform" rating in a research report on Wednesday, August 6th. Oppenheimer lowered shares of Hamilton Lane from an "outperform" rating to a "market perform" rating in a report on Thursday, May 15th. Wells Fargo & Company lifted their price objective on Hamilton Lane from $161.00 to $162.00 and gave the company an "equal weight" rating in a research report on Friday, July 11th. JPMorgan Chase & Co. decreased their target price on Hamilton Lane from $153.00 to $145.00 and set a "neutral" rating for the company in a research report on Wednesday, July 23rd. Finally, Wall Street Zen upgraded Hamilton Lane from a "sell" rating to a "hold" rating in a research note on Saturday, August 9th. Six analysts have rated the stock with a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Reduce" and an average target price of $163.14.

Hamilton Lane Stock Down 4.7%

The company has a quick ratio of 4.32, a current ratio of 4.32 and a debt-to-equity ratio of 0.29. The company's fifty day moving average price is $152.11 and its 200-day moving average price is $151.03. The stock has a market capitalization of $7.99 billion, a PE ratio of 27.61 and a beta of 1.26.

Hamilton Lane (NASDAQ:HLNE - Get Free Report) last posted its quarterly earnings data on Tuesday, August 5th. The company reported $1.31 earnings per share for the quarter, beating analysts' consensus estimates of $0.98 by $0.33. The company had revenue of $196.73 million during the quarter, compared to analyst estimates of $166.96 million. Hamilton Lane had a return on equity of 29.47% and a net margin of 30.66%.The firm's revenue for the quarter was up 11.8% on a year-over-year basis. During the same quarter last year, the company earned $1.47 EPS. Analysts forecast that Hamilton Lane Inc. will post 4.97 earnings per share for the current year.

Hamilton Lane Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, October 6th. Stockholders of record on Friday, September 19th will be issued a dividend of $0.54 per share. The ex-dividend date is Friday, September 19th. This represents a $2.16 annualized dividend and a dividend yield of 1.5%. Hamilton Lane's dividend payout ratio (DPR) is presently 41.54%.

Hedge Funds Weigh In On Hamilton Lane

A number of hedge funds have recently bought and sold shares of the company. MassMutual Private Wealth & Trust FSB increased its stake in Hamilton Lane by 252.0% during the 1st quarter. MassMutual Private Wealth & Trust FSB now owns 176 shares of the company's stock valued at $26,000 after purchasing an additional 126 shares in the last quarter. WPG Advisers LLC bought a new position in shares of Hamilton Lane in the first quarter worth approximately $26,000. Parkside Financial Bank & Trust grew its holdings in shares of Hamilton Lane by 920.0% during the second quarter. Parkside Financial Bank & Trust now owns 204 shares of the company's stock valued at $29,000 after buying an additional 184 shares during the last quarter. Versant Capital Management Inc bought a new stake in shares of Hamilton Lane during the first quarter valued at approximately $30,000. Finally, Whittier Trust Co. of Nevada Inc. bought a new stake in shares of Hamilton Lane during the first quarter valued at approximately $33,000. Institutional investors own 97.40% of the company's stock.

Hamilton Lane Company Profile

Hamilton Lane Incorporated is a private equity firm specializing in early venture, emerging growth, turnaround, middle market, mature, mid-venture, bridge, buyout, distressed/vulture, loan, mezzanine in growth capital companies. It prefers to invest in energy, industrials, consumer discretionary, health care, real estate, information technology, utilities, and consumer services.

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