Fred Alger Management LLC Has $104.23 Million Stock Holdings in Hamilton Lane Incorporated (NASDAQ:HLNE)

Fred Alger Management LLC lowered its position in shares of Hamilton Lane Incorporated (NASDAQ:HLNE) by 10.0% in the third quarter, Holdings Channel reports. The institutional investor owned 618,957 shares of the company’s stock after selling 68,564 shares during the period. Fred Alger Management LLC’s holdings in Hamilton Lane were worth $104,226,000 as of its most recent filing with the SEC.

A number of other institutional investors also recently modified their holdings of the business. Quarry LP increased its position in Hamilton Lane by 316.2% during the second quarter. Quarry LP now owns 308 shares of the company’s stock worth $38,000 after acquiring an additional 234 shares during the period. CWM LLC grew its position in shares of Hamilton Lane by 24.7% during the 3rd quarter. CWM LLC now owns 505 shares of the company’s stock worth $85,000 after purchasing an additional 100 shares in the last quarter. Signaturefd LLC increased its holdings in shares of Hamilton Lane by 13.1% during the second quarter. Signaturefd LLC now owns 629 shares of the company’s stock worth $78,000 after purchasing an additional 73 shares during the period. GAMMA Investing LLC raised its position in shares of Hamilton Lane by 32.4% in the third quarter. GAMMA Investing LLC now owns 637 shares of the company’s stock valued at $107,000 after buying an additional 156 shares in the last quarter. Finally, Icon Wealth Advisors LLC bought a new stake in shares of Hamilton Lane in the third quarter valued at approximately $111,000. Institutional investors own 97.40% of the company’s stock.

Hamilton Lane Trading Down 3.7 %

Shares of HLNE stock opened at $192.02 on Friday. The company has a quick ratio of 3.37, a current ratio of 3.37 and a debt-to-equity ratio of 0.24. The firm has a market capitalization of $10.64 billion, a P/E ratio of 41.65 and a beta of 1.18. Hamilton Lane Incorporated has a twelve month low of $94.38 and a twelve month high of $203.72. The stock’s fifty day simple moving average is $181.47 and its 200 day simple moving average is $150.44.

Hamilton Lane (NASDAQ:HLNE) last issued its quarterly earnings results on Wednesday, November 6th. The company reported $1.07 EPS for the quarter, topping analysts’ consensus estimates of $1.06 by $0.01. The company had revenue of $150.00 million for the quarter, compared to analyst estimates of $151.55 million. Hamilton Lane had a net margin of 28.03% and a return on equity of 35.59%. Hamilton Lane’s revenue was up 18.2% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.89 earnings per share. As a group, sell-side analysts predict that Hamilton Lane Incorporated will post 4.87 EPS for the current fiscal year.

Hamilton Lane Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, January 7th. Shareholders of record on Monday, December 16th will be given a $0.49 dividend. The ex-dividend date of this dividend is Monday, December 16th. This represents a $1.96 dividend on an annualized basis and a dividend yield of 1.02%. Hamilton Lane’s dividend payout ratio (DPR) is presently 42.52%.

Wall Street Analysts Forecast Growth

A number of equities analysts have commented on the company. Morgan Stanley raised their price objective on Hamilton Lane from $182.00 to $190.00 and gave the stock an “equal weight” rating in a research note on Monday, November 11th. UBS Group boosted their price target on Hamilton Lane from $150.00 to $185.00 and gave the company a “neutral” rating in a research note on Tuesday, October 22nd. JPMorgan Chase & Co. upped their price target on shares of Hamilton Lane from $134.00 to $175.00 and gave the stock a “neutral” rating in a report on Thursday, November 7th. Wells Fargo & Company lifted their price objective on shares of Hamilton Lane from $156.00 to $170.00 and gave the company an “equal weight” rating in a research note on Wednesday, October 9th. Finally, Keefe, Bruyette & Woods upped their price objective on Hamilton Lane from $181.00 to $215.00 and gave the stock a “market perform” rating in a research report on Thursday, November 7th. Seven analysts have rated the stock with a hold rating, Based on data from MarketBeat, Hamilton Lane currently has an average rating of “Hold” and a consensus price target of $180.33.

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.