Amalgamated Bank Purchases 2,242 Shares of Hamilton Lane Inc. $HLNE

Amalgamated Bank increased its stake in shares of Hamilton Lane Inc. (NASDAQ:HLNE) by 11.8% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 21,183 shares of the company’s stock after buying an additional 2,242 shares during the quarter. Amalgamated Bank’s holdings in Hamilton Lane were worth $3,011,000 at the end of the most recent quarter.

Several other institutional investors have also bought and sold shares of HLNE. OneDigital Investment Advisors LLC bought a new position in Hamilton Lane in the 1st quarter valued at $225,000. New York State Teachers Retirement System lifted its holdings in Hamilton Lane by 11.3% during the 1st quarter. New York State Teachers Retirement System now owns 7,880 shares of the company’s stock worth $1,172,000 after purchasing an additional 800 shares in the last quarter. Envestnet Portfolio Solutions Inc. lifted its holdings in Hamilton Lane by 116.7% during the 2nd quarter. Envestnet Portfolio Solutions Inc. now owns 4,144 shares of the company’s stock worth $589,000 after purchasing an additional 2,232 shares in the last quarter. Maryland State Retirement & Pension System purchased a new stake in Hamilton Lane during the 2nd quarter worth about $276,000. Finally, PNC Financial Services Group Inc. raised its holdings in shares of Hamilton Lane by 47.4% in the 1st quarter. PNC Financial Services Group Inc. now owns 1,358 shares of the company’s stock valued at $202,000 after acquiring an additional 437 shares in the last quarter. Institutional investors own 97.40% of the company’s stock.

Hamilton Lane Stock Up 0.9%

Hamilton Lane stock opened at $114.93 on Tuesday. The firm has a market cap of $6.40 billion, a price-to-earnings ratio of 22.10 and a beta of 1.20. The stock has a fifty day simple moving average of $134.63 and a two-hundred day simple moving average of $146.52. Hamilton Lane Inc. has a 12 month low of $111.98 and a 12 month high of $203.72. The company has a current ratio of 4.32, a quick ratio of 4.32 and a debt-to-equity ratio of 0.29.

Hamilton Lane (NASDAQ:HLNE) last posted its earnings results on Tuesday, August 5th. The company reported $1.31 EPS 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 during the quarter, compared to analyst estimates of $166.96 million. During the same quarter last year, the company earned $1.47 EPS. The company’s quarterly revenue was up 11.8% compared to the same quarter last year. Equities analysts predict that Hamilton Lane Inc. will post 4.97 EPS for the current fiscal year.

Insider Activity at Hamilton Lane

In related news, major shareholder River 5 Ltd French sold 150,000 shares of Hamilton Lane stock in a transaction on Thursday, September 4th. The stock was sold at an average price of $146.51, for a total value of $21,976,500.00. Following the completion of the sale, the insider owned 330,015 shares of the company’s stock, valued at $48,350,497.65. The trade was a 31.25% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. 22.21% of the stock is owned by insiders.

Analysts Set New Price Targets

Several analysts have weighed in on the company. Wells Fargo & Company raised their price target on Hamilton Lane from $161.00 to $162.00 and gave the company an “equal weight” rating in a report on Friday, July 11th. JPMorgan Chase & Co. reduced their price target on Hamilton Lane from $153.00 to $145.00 and set a “neutral” rating on the stock in a research report on Wednesday, July 23rd. Zacks Research lowered Hamilton Lane from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, October 22nd. Keefe, Bruyette & Woods raised Hamilton Lane from a “market perform” rating to an “outperform” rating and reduced their target price for the company from $168.00 to $150.00 in a research note on Monday, October 13th. Finally, BMO Capital Markets assumed coverage on Hamilton Lane in a research note on Friday, October 3rd. They issued an “outperform” rating and a $150.00 target price for the company. One research analyst has rated the stock with a Strong Buy rating, two have given a Buy rating and six have given a Hold rating to the stock. Based on data from MarketBeat.com, Hamilton Lane has a consensus rating of “Hold” and a consensus target price of $157.71.

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.