Hamilton Lane (NASDAQ:HLNE) Chairman Acquires $43,226.16 in Stock

Hamilton Lane Inc. (NASDAQ:HLNE) Chairman Hartley Rogers acquired 466 shares of the business’s stock in a transaction on Wednesday, May 27th. The stock was acquired at an average cost of $92.76 per share, with a total value of $43,226.16. Following the acquisition, the chairman directly owned 55,466 shares in the company, valued at approximately $5,145,026.16. This trade represents a 0.85% increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this link.

Hamilton Lane Stock Up 1.1%

NASDAQ HLNE opened at $87.11 on Friday. The company has a market capitalization of $4.84 billion, a P/E ratio of 14.74 and a beta of 1.18. Hamilton Lane Inc. has a 12-month low of $82.23 and a 12-month high of $179.19. The firm has a 50-day moving average price of $94.45 and a two-hundred day moving average price of $116.42.

Hamilton Lane (NASDAQ:HLNE) last posted its quarterly earnings data on Thursday, May 21st. The company reported $1.49 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.43 by $0.06. Hamilton Lane had a net margin of 32.83% and a return on equity of 25.98%. The firm had revenue of $193.57 million during the quarter, compared to the consensus estimate of $203.05 million. During the same quarter in the previous year, the firm posted $1.21 EPS. The business’s revenue for the quarter was down 2.2% compared to the same quarter last year. Equities analysts expect that Hamilton Lane Inc. will post 6.26 EPS for the current year.

Hamilton Lane announced that its Board of Directors has authorized a share buyback program on Thursday, May 21st that permits the company to buyback $100.00 million in shares. This buyback authorization permits the company to reacquire up to 2% of its shares through open market purchases. Shares buyback programs are generally an indication that the company’s management believes its stock is undervalued.

Hamilton Lane Increases Dividend

The company also recently declared 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 boost from Hamilton Lane’s previous quarterly dividend of $0.54. The ex-dividend date of this dividend is Thursday, June 18th. This represents a $2.40 dividend on an annualized basis and a dividend yield of 2.8%. Hamilton Lane’s payout ratio is currently 36.55%.

Hedge Funds Weigh In On Hamilton Lane

Several institutional investors and hedge funds have recently added to or reduced their stakes in HLNE. Royal Bank of Canada lifted its stake in Hamilton Lane by 6.0% in the 1st quarter. Royal Bank of Canada now owns 52,466 shares of the company’s stock valued at $7,800,000 after purchasing an additional 2,948 shares during the last quarter. Jones Financial Companies Lllp increased its position in Hamilton Lane by 4,806.7% in the 1st quarter. Jones Financial Companies Lllp now owns 5,103 shares of the company’s stock valued at $759,000 after acquiring an additional 4,999 shares during the period. Geneos Wealth Management Inc. increased its position in Hamilton Lane by 196.9% in the 1st quarter. Geneos Wealth Management Inc. now owns 383 shares of the company’s stock valued at $57,000 after acquiring an additional 254 shares during the period. First Trust Advisors LP increased its position in Hamilton Lane by 26.7% in the 2nd quarter. First Trust Advisors LP now owns 31,483 shares of the company’s stock valued at $4,474,000 after acquiring an additional 6,636 shares during the period. Finally, Amundi increased its position in Hamilton Lane by 39,766.7% in the 2nd quarter. Amundi now owns 2,392 shares of the company’s stock valued at $347,000 after acquiring an additional 2,386 shares during the period. Institutional investors own 97.40% of the company’s stock.

Analyst Ratings Changes

A number of brokerages have recently weighed in on HLNE. JPMorgan Chase & Co. cut their price target on shares of Hamilton Lane from $166.00 to $148.00 and set an “overweight” rating for the company in a report on Monday, May 18th. BMO Capital Markets cut their price target on shares of Hamilton Lane from $108.00 to $102.00 and set an “outperform” rating for the company in a report on Friday, May 22nd. Morgan Stanley dropped their price objective on shares of Hamilton Lane from $159.00 to $141.00 and set an “equal weight” rating for the company in a research note on Tuesday, April 21st. The Goldman Sachs Group set a $148.00 price objective on shares of Hamilton Lane and gave the company a “buy” rating in a research note on Friday, May 22nd. Finally, Oppenheimer increased their price objective on shares of Hamilton Lane from $171.00 to $179.00 and gave the company an “outperform” rating in a research note on Friday, May 22nd. Six research analysts have rated the stock with a Buy rating and four have given a Hold rating to the company’s stock. According to MarketBeat, Hamilton Lane currently has an average rating of “Moderate Buy” and an average price target of $150.00.

Hamilton Lane Company Profile

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.