I'm not sure what the right terminology is, but there are also gliders like this:
https://youtu.be/OpemglwS8XA?feature=shared
Which are a step up from even the most sophisticated "hang glider", assuming that hang glider refers to the kite type thing that you hang underneath and steer with body weight shifting.
I'm pretty sure even the best paragliders aren't anywhere near 40:1 L/D ratios.
Off-topic I know, but 100% this. Modern hang-gliders are amazing: easy to learn, unbelievable glide performance and handling, cheap to buy and learn. The 'whoosh' of energy retention as you pull in and push out has to be felt to be believed.
The same goes for paragliders: their speed and glide makes a mockery of my intuition as a ex-physicist and they fit in a rucksack. I'm a rubbish pilot and I've still managed to fly over a hundred kilometres on a paraglider.