Hamilton Lane (NASDAQ:HLNE) Posts Earnings Results, Beats Expectations By $0.01 EPS

Hamilton Lane (NASDAQ:HLNE) issued its earnings results on Thursday. The company reported $1.21 earnings per share for the quarter, beating the consensus estimate of $1.20 by $0.01, Briefing.com reports. Hamilton Lane had a net margin of 31.12% and a return on equity of 36.69%. The firm had revenue of $197.97 million for the quarter, compared to analysts’ expectations of $165.49 million. During the same quarter last year, the company earned $1.38 earnings per share. The firm’s revenue was up 12.1% compared to the same quarter last year.

Hamilton Lane Stock Down 11.1%

Shares of NASDAQ HLNE opened at $156.08 on Friday. The stock has a market cap of $8.65 billion, a PE ratio of 28.80 and a beta of 1.31. Hamilton Lane has a 52-week low of $114.85 and a 52-week high of $203.72. The business has a 50-day moving average price of $152.91 and a 200 day moving average price of $158.67. The company has a quick ratio of 4.19, a current ratio of 4.19 and a debt-to-equity ratio of 0.34.

Hamilton Lane Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, April 4th. Stockholders of record on Friday, March 14th were issued a $0.49 dividend. This represents a $1.96 annualized dividend and a dividend yield of 1.26%. The ex-dividend date was Friday, March 14th. Hamilton Lane’s payout ratio is currently 36.16%.

Institutional Investors Weigh In On Hamilton Lane

A number of institutional investors and hedge funds have recently added to or reduced their stakes in HLNE. Jones Financial Companies Lllp raised 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 purchasing an additional 4,999 shares during the last quarter. Royal Bank of Canada increased its position 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 acquiring an additional 2,948 shares during the period. Finally, Geneos Wealth Management Inc. lifted its position in Hamilton Lane by 196.9% during the 1st quarter. Geneos Wealth Management Inc. now owns 383 shares of the company’s stock worth $57,000 after acquiring an additional 254 shares during the period. Hedge funds and other institutional investors own 97.40% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts have recently weighed in on HLNE shares. JPMorgan Chase & Co. reduced their price objective on shares of Hamilton Lane from $176.00 to $167.00 and set a “neutral” rating on the stock in a report on Tuesday, April 29th. Oppenheimer downgraded Hamilton Lane from an “outperform” rating to a “market perform” rating in a report on Thursday, May 15th. Morgan Stanley dropped their price objective on Hamilton Lane from $190.00 to $157.00 and set an “equal weight” rating on the stock in a report on Monday, April 14th. Keefe, Bruyette & Woods boosted their target price on Hamilton Lane from $158.00 to $168.00 and gave the stock a “market perform” rating in a research note on Wednesday, February 5th. Finally, Wells Fargo & Company upped their price target on Hamilton Lane from $147.00 to $166.00 and gave the company an “equal weight” rating in a report on Friday, May 23rd. One analyst has rated the stock with a sell rating and six have given a hold rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $166.86.

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.