Hartley Rogers Buys 38,290 Shares of Hamilton Lane (NASDAQ:HLNE) Stock

Hamilton Lane Inc. (NASDAQ:HLNE) Chairman Hartley Rogers acquired 38,290 shares of the business’s stock in a transaction dated Thursday, June 11th. The stock was purchased at an average price of $78.49 per share, with a total value of $3,005,382.10. Following the acquisition, the chairman owned 93,756 shares of the company’s stock, valued at approximately $7,358,908.44. This trade represents a 69.03% increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink.

Hamilton Lane Price Performance

Shares of Hamilton Lane stock traded up $1.89 during trading on Monday, hitting $81.99. The stock had a trading volume of 927,353 shares, compared to its average volume of 813,974. The firm has a market cap of $4.55 billion, a P/E ratio of 13.87 and a beta of 1.15. The business has a fifty day moving average of $90.94 and a two-hundred day moving average of $113.11. Hamilton Lane Inc. has a fifty-two week low of $75.93 and a fifty-two week high of $161.13.

Hamilton Lane (NASDAQ:HLNE) last announced its quarterly earnings data on Thursday, May 21st. The company reported $1.49 earnings per share for the quarter, beating the consensus estimate of $1.43 by $0.06. The business had revenue of $193.57 million during the quarter, compared to analyst estimates of $203.05 million. Hamilton Lane had a return on equity of 25.98% and a net margin of 32.83%.The company’s revenue was down 2.2% on a year-over-year basis. During the same quarter in the prior year, the firm posted $1.21 earnings per share. As a group, research analysts forecast that Hamilton Lane Inc. will post 6.33 earnings per share for the current year.

Hamilton Lane announced that its Board of Directors has approved a stock repurchase plan on Thursday, May 21st that authorizes the company to buyback $100.00 million in shares. This buyback authorization authorizes the company to repurchase up to 2% of its shares through open market purchases. Shares buyback plans are usually an indication that the company’s leadership believes its stock is undervalued.

Hamilton Lane Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, July 7th. Stockholders of record on Thursday, June 18th will be issued a dividend of $0.60 per share. This is a positive change from Hamilton Lane’s previous quarterly dividend of $0.54. This represents a $2.40 annualized dividend and a dividend yield of 2.9%. The ex-dividend date of this dividend is Thursday, June 18th. Hamilton Lane’s dividend payout ratio (DPR) is currently 36.55%.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of the business. Argent Capital Management LLC raised its position in Hamilton Lane by 53.9% during the first quarter. Argent Capital Management LLC now owns 55,236 shares of the company’s stock valued at $5,490,000 after buying an additional 19,345 shares during the period. Edgestream Partners L.P. acquired a new position in Hamilton Lane in the 1st quarter worth about $233,000. Janus Henderson Group PLC increased its position in Hamilton Lane by 12.9% in the 1st quarter. Janus Henderson Group PLC now owns 905,660 shares of the company’s stock worth $90,045,000 after purchasing an additional 103,663 shares during the last quarter. Amundi increased its position in Hamilton Lane by 18.9% in the 1st quarter. Amundi now owns 24,167 shares of the company’s stock worth $2,402,000 after purchasing an additional 3,833 shares during the last quarter. Finally, California State Teachers Retirement System increased its position in Hamilton Lane by 24.2% in the 1st quarter. California State Teachers Retirement System now owns 49,007 shares of the company’s stock worth $4,871,000 after purchasing an additional 9,556 shares during the last quarter. 97.40% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently commented on HLNE shares. Morgan Stanley reduced their target price on Hamilton Lane from $159.00 to $141.00 and set an “equal weight” rating for the company in a report on Tuesday, April 21st. JPMorgan Chase & Co. reduced their target price on Hamilton Lane from $166.00 to $148.00 and set an “overweight” rating for the company in a report on Monday, May 18th. Oppenheimer upped their target price on Hamilton Lane from $171.00 to $179.00 and gave the company an “outperform” rating in a report on Friday, May 22nd. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Hamilton Lane in a report on Wednesday, June 3rd. Finally, Zacks Research downgraded Hamilton Lane from a “strong-buy” rating to a “hold” rating in a report on Monday, April 6th. Six equities research analysts have rated the stock with a Buy rating and four have given a Hold rating to the stock. Based on data from MarketBeat.com, Hamilton Lane currently has an average rating of “Moderate Buy” and a consensus price target of $150.00.

About Hamilton Lane

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.