Hamilton Lane (NASDAQ:HLNE) Reaches New 52-Week Low – Should You Sell?

Shares of Hamilton Lane Inc. (NASDAQ:HLNE) hit a new 52-week low on Tuesday . The company traded as low as $111.98 and last traded at $114.93, with a volume of 645120 shares traded. The stock had previously closed at $113.96.

Analysts Set New Price Targets

A number of equities research analysts recently weighed in on the company. Morgan Stanley reduced their price objective on Hamilton Lane from $169.00 to $154.00 and set an “equal weight” rating on the stock in a research report on Tuesday, October 21st. The Goldman Sachs Group upgraded Hamilton Lane from a “sell” rating to a “neutral” rating and upped their price target for the company from $149.00 to $162.00 in a research report on Thursday, September 18th. Zacks Research lowered Hamilton Lane from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, October 22nd. Wells Fargo & Company upped their price target 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. Finally, Keefe, Bruyette & Woods upgraded Hamilton Lane from a “market perform” rating to an “outperform” rating and reduced their price target for the company from $168.00 to $150.00 in a research report on Monday, October 13th. One equities research analyst has rated the stock with a Strong Buy rating, two have given a Buy rating and six have assigned a Hold rating to the company. According to data from MarketBeat.com, Hamilton Lane currently has an average rating of “Hold” and an average price target of $157.71.

Hamilton Lane Trading Up 0.9%

The company has a current ratio of 4.32, a quick ratio of 4.32 and a debt-to-equity ratio of 0.29. The firm has a 50-day moving average of $134.63 and a 200 day moving average of $146.52. The company has a market cap of $6.40 billion, a P/E ratio of 22.10 and a beta of 1.20.

Hamilton Lane (NASDAQ:HLNE) last posted its quarterly earnings results on Tuesday, August 5th. The company reported $1.31 earnings per share for the quarter, topping analysts’ consensus estimates of $0.98 by $0.33. Hamilton Lane had a return on equity of 29.47% and a net margin of 30.66%.The business had revenue of $196.73 million for the quarter, compared to the consensus estimate of $166.96 million. During the same period in the prior year, the business earned $1.47 EPS. The firm’s revenue for the quarter was up 11.8% on a year-over-year basis. On average, analysts predict that Hamilton Lane Inc. will post 4.97 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, major shareholder River 5 Ltd French sold 150,000 shares of the company’s stock in a transaction that occurred on Thursday, September 4th. The stock was sold at an average price of $146.51, for a total transaction of $21,976,500.00. Following the transaction, the insider directly owned 330,015 shares of the company’s stock, valued at approximately $48,350,497.65. This represents a 31.25% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 22.21% of the company’s stock.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of HLNE. New York State Teachers Retirement System lifted its holdings in shares of Hamilton Lane by 11.3% in the first quarter. New York State Teachers Retirement System now owns 7,880 shares of the company’s stock valued at $1,172,000 after purchasing an additional 800 shares in the last quarter. OneDigital Investment Advisors LLC bought a new position in shares of Hamilton Lane in the first quarter valued at approximately $225,000. Bank of New York Mellon Corp lifted its holdings in shares of Hamilton Lane by 1.0% in the first quarter. Bank of New York Mellon Corp now owns 359,694 shares of the company’s stock valued at $53,476,000 after purchasing an additional 3,468 shares in the last quarter. Envestnet Asset Management Inc. lifted its holdings in shares of Hamilton Lane by 13.6% in the first quarter. Envestnet Asset Management Inc. now owns 216,568 shares of the company’s stock valued at $32,197,000 after purchasing an additional 25,867 shares in the last quarter. Finally, Bridges Investment Management Inc. lifted its holdings in shares of Hamilton Lane by 111.3% in the first quarter. Bridges Investment Management Inc. now owns 11,845 shares of the company’s stock valued at $1,761,000 after purchasing an additional 6,238 shares in the last quarter. Institutional investors own 97.40% of the company’s stock.

About Hamilton Lane

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.