Oppenheimer Cuts Hamilton Lane (NASDAQ:HLNE) Price Target to $174.00

Key Points

• Oppenheimer lowered its price target on Hamilton Lane to $174 from $176 and kept an outperform rating, implying significant upside from the previous close.
• Other analysts have also trimmed targets, including Keefe, Bruyette & Woods, Morgan Stanley, and JPMorgan, though the stock still carries a Moderate Buy consensus with an average target of $134.29.
• Hamilton Lane reported quarterly EPS of $1.49, beating estimates, and its board approved a $100 million share buyback authorizing repurchases of up to 2% of shares outstanding.

Hamilton Lane (NASDAQ:HLNE - Get Free Report) had its price target reduced by research analysts at Oppenheimer from $176.00 to $174.00 in a research report issued on Friday,Benzinga reports. The firm currently has an "outperform" rating on the stock. Oppenheimer's price objective suggests a potential upside of 104.31% from the company's previous close.

HLNE has been the topic of a number of other reports. Keefe, Bruyette & Woods dropped their target price on shares of Hamilton Lane from $115.00 to $105.00 and set an "outperform" rating on the stock in a research note on Friday, July 10th. Weiss Ratings reiterated a "hold (c)" rating on shares of Hamilton Lane in a research note on Wednesday, June 3rd. BMO Capital Markets set a $94.00 price target on Hamilton Lane in a research report on Monday. Morgan Stanley cut their price objective on shares of Hamilton Lane from $159.00 to $141.00 and set an "equal weight" rating on the stock in a report on Tuesday, April 21st. Finally, 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 report on Monday, May 18th. Six analysts have rated the stock with a Buy rating and three have issued a Hold rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average price target of $134.29.

Hamilton Lane Stock Performance

HLNE stock traded down $0.73 during mid-day trading on Friday, reaching $85.17. 169,424 shares of the stock traded hands, compared to its average volume of 833,385. The stock has a market capitalization of $4.73 billion, a PE ratio of 14.42 and a beta of 1.16. Hamilton Lane has a one year low of $71.88 and a one year high of $161.13. The business has a 50-day moving average price of $82.93 and a two-hundred day moving average price of $104.79.

Hamilton Lane (NASDAQ:HLNE - Get Free Report) last announced its quarterly earnings data on Thursday, May 21st. The company reported $1.49 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.43 by $0.06. Hamilton Lane had a net margin of 32.83% and a return on equity of 25.98%. The business had revenue of $193.57 million during the quarter, compared to the consensus estimate of $203.05 million. During the same quarter last year, the firm earned $1.21 earnings per share. The firm's quarterly revenue was down 2.2% compared to the same quarter last year. On average, equities analysts expect that Hamilton Lane will post 6.33 earnings per share for the current fiscal year.

Hamilton Lane declared that its board has authorized a share buyback program on Thursday, May 21st that authorizes the company to buyback $100.00 million in shares. This buyback authorization authorizes the company to purchase up to 2% of its stock through open market purchases. Stock buyback programs are typically a sign that the company's board believes its stock is undervalued.

Insider Activity

In other Hamilton Lane news, COO Andrea Anigati Kramer bought 1,283 shares of the stock in a transaction 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 purchase, the chief operating officer directly owned 87,350 shares in the company, valued at $6,766,131. This trade represents a 1.49% increase in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Chairman Hartley R. Rogers purchased 55,000 shares of the firm's stock in a transaction dated Tuesday, May 26th. The stock was acquired at an average cost of $90.05 per share, for a total transaction of $4,952,750.00. Following the completion of the purchase, the chairman owned 55,000 shares of the company's stock, valued at approximately $4,952,750. This represents a ∞ increase in their position. The SEC filing for this purchase provides additional information. In the last 90 days, insiders have purchased 95,039 shares of company stock valued at $8,100,739. Insiders own 22.21% of the company's stock.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of the stock. Harbor Investment Advisory LLC purchased a new position in Hamilton Lane during the second quarter worth about $58,000. Argent Capital Management LLC lifted its position in shares of Hamilton Lane by 53.9% during the first quarter. Argent Capital Management LLC now owns 55,236 shares of the company's stock worth $5,490,000 after purchasing an additional 19,345 shares in the last quarter. Edgestream Partners L.P. acquired a new stake in Hamilton Lane during the 1st quarter worth approximately $233,000. Janus Henderson Group PLC boosted its holdings in Hamilton Lane by 12.9% in 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. Finally, Amundi boosted its stake in shares of Hamilton Lane by 18.9% in the 1st quarter. Amundi now owns 24,167 shares of the company's stock valued at $2,402,000 after buying an additional 3,833 shares during the period. Hedge funds and other institutional investors own 97.40% of the company's stock.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.