Insider Buying: Hamilton Lane (NASDAQ:HLNE) Chairman Purchases $3,005,382.10 in Stock

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

Hamilton Lane Stock Performance

HLNE stock opened at $81.40 on Thursday. The firm has a market cap of $4.52 billion, a PE ratio of 13.77 and a beta of 1.14. The firm’s fifty day moving average is $90.27 and its 200 day moving average is $112.29. Hamilton Lane Inc. has a one year low of $75.93 and a one year high of $161.13.

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

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

Hamilton Lane Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, July 7th. Investors of record on Thursday, June 18th will be given a dividend of $0.60 per share. This is a boost from Hamilton Lane’s previous quarterly dividend of $0.54. This represents a $2.40 annualized dividend and a yield of 2.9%. The ex-dividend date is Thursday, June 18th. Hamilton Lane’s dividend payout ratio (DPR) is 36.55%.

Wall Street Analysts Forecast Growth

Several brokerages have recently issued reports on HLNE. Oppenheimer lifted their target price on shares of Hamilton Lane from $171.00 to $179.00 and gave the company an “outperform” rating in a research report on Friday, May 22nd. The Goldman Sachs Group set a $148.00 target price on shares of Hamilton Lane and gave the company a “buy” rating in a report on Friday, May 22nd. Weiss Ratings reiterated a “hold (c)” rating on shares of Hamilton Lane in a report on Wednesday, June 3rd. Keefe, Bruyette & Woods reiterated an “outperform” rating on shares of Hamilton Lane in a report on Friday, May 22nd. Finally, UBS Group decreased their target price on shares of Hamilton Lane from $184.00 to $150.00 and set a “buy” rating on the stock in a report on Friday, February 20th. 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 data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $150.00.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the company. Jefferies Financial Group Inc. lifted its holdings in Hamilton Lane by 145.9% during the fourth quarter. Jefferies Financial Group Inc. now owns 98,241 shares of the company’s stock worth $13,195,000 after buying an additional 58,291 shares during the period. Artisan Partners Limited Partnership lifted its holdings in Hamilton Lane by 24.8% during the third quarter. Artisan Partners Limited Partnership now owns 318,111 shares of the company’s stock worth $42,878,000 after buying an additional 63,220 shares during the period. Principal Financial Group Inc. lifted its holdings in Hamilton Lane by 148.3% during the fourth quarter. Principal Financial Group Inc. now owns 1,085,850 shares of the company’s stock worth $145,844,000 after buying an additional 648,588 shares during the period. Danske Bank A S lifted its holdings in Hamilton Lane by 19,024.0% during the fourth quarter. Danske Bank A S now owns 19,124 shares of the company’s stock worth $2,569,000 after buying an additional 19,024 shares during the period. Finally, SG Americas Securities LLC lifted its holdings in Hamilton Lane by 541.8% during the fourth quarter. SG Americas Securities LLC now owns 71,717 shares of the company’s stock worth $9,632,000 after buying an additional 60,542 shares during the period. Institutional investors own 97.40% of the company’s stock.

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.