Hamilton Lane (NASDAQ:HLNE) Chairman Hartley Rogers Purchases 466 Shares

Hamilton Lane Inc. (NASDAQ:HLNE) Chairman Hartley Rogers bought 466 shares of the company’s stock in a transaction on Wednesday, May 27th. The stock was bought at an average price of $92.76 per share, for a total transaction of $43,226.16. Following the completion of the purchase, the chairman directly owned 55,466 shares in the company, valued at approximately $5,145,026.16. This represents a 0.85% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available through the SEC website.

Hamilton Lane Price Performance

Shares of HLNE stock opened at $86.15 on Friday. The company has a market capitalization of $4.81 billion, a P/E ratio of 14.58 and a beta of 1.18. The company’s 50-day simple moving average is $94.76 and its two-hundred day simple moving average is $116.63. Hamilton Lane Inc. has a one year low of $82.23 and a one year high of $179.19.

Hamilton Lane (NASDAQ:HLNE) last issued its earnings results on Thursday, May 21st. The company reported $1.49 EPS for the quarter, topping analysts’ consensus estimates of $1.43 by $0.06. The business had revenue of $193.57 million for the quarter, compared to the consensus estimate of $203.05 million. Hamilton Lane had a net margin of 32.83% and a return on equity of 25.98%. The company’s revenue for the quarter was down 2.2% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.21 EPS. On average, research analysts expect that Hamilton Lane Inc. will post 6.26 EPS for the current fiscal year.

Hamilton Lane Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, July 7th. Shareholders of record on Thursday, June 18th will be paid a $0.60 dividend. The ex-dividend date is Thursday, June 18th. This represents a $2.40 dividend on an annualized basis and a yield of 2.8%. This is an increase from Hamilton Lane’s previous quarterly dividend of $0.54. Hamilton Lane’s payout ratio is currently 36.55%.

Hamilton Lane declared that its Board of Directors has approved a share buyback program on Thursday, May 21st that authorizes the company to repurchase $100.00 million in outstanding shares. This repurchase authorization authorizes the company to repurchase up to 2% of its stock through open market purchases. Stock repurchase programs are generally a sign that the company’s board of directors believes its shares are undervalued.

Analyst Ratings Changes

A number of brokerages have commented on HLNE. Zacks Research downgraded shares of Hamilton Lane from a “strong-buy” rating to a “hold” rating in a research note on Monday, April 6th. UBS Group dropped 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. BMO Capital Markets dropped their target price on shares of Hamilton Lane from $108.00 to $102.00 and set an “outperform” rating on the stock in a report on Friday, May 22nd. The Goldman Sachs Group set a $148.00 target price on shares of Hamilton Lane and gave the stock a “buy” rating in a report on Friday, May 22nd. Finally, Morgan Stanley dropped their target price on shares of Hamilton Lane from $159.00 to $141.00 and set an “equal weight” rating on the stock in a report on Tuesday, April 21st. Six research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company. According to MarketBeat, Hamilton Lane presently has a consensus rating of “Moderate Buy” and an average target price of $150.00.

Hedge Funds Weigh In On Hamilton Lane

A number of hedge funds and other institutional investors have recently modified their holdings of the business. Whittier Trust Co. of Nevada Inc. raised its holdings in Hamilton Lane by 27.7% in the 4th quarter. Whittier Trust Co. of Nevada Inc. now owns 415 shares of the company’s stock valued at $61,000 after acquiring an additional 90 shares during the last quarter. Hantz Financial Services Inc. raised its holdings in Hamilton Lane by 80.5% in the 3rd quarter. Hantz Financial Services Inc. now owns 213 shares of the company’s stock valued at $29,000 after acquiring an additional 95 shares during the last quarter. State of Michigan Retirement System raised its holdings in Hamilton Lane by 1.0% in the 4th quarter. State of Michigan Retirement System now owns 9,700 shares of the company’s stock valued at $1,303,000 after acquiring an additional 100 shares during the last quarter. Steward Partners Investment Advisory LLC raised its holdings in Hamilton Lane by 12.9% in the 4th quarter. Steward Partners Investment Advisory LLC now owns 899 shares of the company’s stock valued at $121,000 after acquiring an additional 103 shares during the last quarter. Finally, Parallel Advisors LLC raised its holdings in Hamilton Lane by 81.2% in the 4th quarter. Parallel Advisors LLC now owns 241 shares of the company’s stock valued at $32,000 after acquiring an additional 108 shares during the last quarter. 97.40% of the stock is currently owned by institutional investors.

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.