Walleye Capital LLC Invests $6.59 Million in Hamilton Lane Inc. $HLNE

Walleye Capital LLC purchased a new stake in Hamilton Lane Inc. (NASDAQ:HLNE) in the 1st quarter, according to its most recent disclosure with the SEC. The fund purchased 66,352 shares of the company’s stock, valued at approximately $6,595,000.

A number of other institutional investors have also modified their holdings of the business. Millennium Management LLC raised its position in shares of Hamilton Lane by 418.8% during the 3rd quarter. Millennium Management LLC now owns 1,060,511 shares of the company’s stock worth $142,946,000 after purchasing an additional 856,112 shares during the period. Principal Financial Group Inc. raised 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 purchasing an additional 648,588 shares in the last quarter. Norges Bank bought a new stake in shares of Hamilton Lane in the 4th quarter worth $68,657,000. Balyasny Asset Management L.P. raised its position in Hamilton Lane by 117.8% in the fourth quarter. Balyasny Asset Management L.P. now owns 756,148 shares of the company’s stock worth $101,558,000 after acquiring an additional 409,013 shares in the last quarter. Finally, Westfield Capital Management Co. LP acquired a new stake in Hamilton Lane during the fourth quarter valued at approximately $48,820,000. Institutional investors own 97.40% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms recently weighed in on HLNE. Keefe, Bruyette & Woods decreased their price target on Hamilton Lane from $115.00 to $105.00 and set an “outperform” rating for the company in a research report on Friday, July 10th. JPMorgan Chase & Co. lowered their price target on shares of Hamilton Lane from $166.00 to $148.00 and set an “overweight” rating on the stock in a report on Monday, May 18th. Morgan Stanley dropped their price objective on Hamilton Lane from $141.00 to $123.00 and set an “equal weight” rating on the stock in a report on Tuesday. Zacks Research downgraded shares of Hamilton Lane from a “strong-buy” rating to a “hold” rating in a research report on Monday, April 6th. Finally, BMO Capital Markets set a $94.00 price target on Hamilton Lane in a report on Monday, July 13th. Six research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $131.71.

Hamilton Lane Stock Down 3.7%

Shares of HLNE opened at $81.14 on Thursday. The firm has a market capitalization of $4.51 billion, a price-to-earnings ratio of 13.73 and a beta of 1.16. Hamilton Lane Inc. has a 12-month low of $71.88 and a 12-month high of $161.13. The stock’s 50-day moving average price is $82.62 and its 200 day moving average price is $103.34.

Hamilton Lane (NASDAQ:HLNE) last announced its quarterly earnings results on Thursday, May 21st. The company reported $1.49 earnings per share (EPS) for the quarter, beating the consensus estimate 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 for the quarter, compared to analyst estimates 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% on a year-over-year basis. Equities research analysts expect that Hamilton Lane Inc. will post 6.33 EPS for the current year.

Hamilton Lane Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, July 7th. Investors of record on Thursday, June 18th were paid a $0.60 dividend. The ex-dividend date of this dividend was Thursday, June 18th. This represents a $2.40 annualized dividend and a yield of 3.0%. This is a positive change from Hamilton Lane’s previous quarterly dividend of $0.54. Hamilton Lane’s payout ratio is presently 40.61%.

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

Insider Buying and Selling at Hamilton Lane

In other news, COO Andrea Anigati Kramer bought 1,283 shares of the stock in a transaction dated Thursday, June 11th. The shares were acquired at an average price of $77.46 per share, with a total value of $99,381.18. Following the acquisition, the chief operating officer owned 87,350 shares in the company, valued at $6,766,131. This trade represents a 1.49% increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Chairman Hartley R. Rogers acquired 38,290 shares of the firm’s stock in a transaction on Thursday, June 11th. The shares were purchased at an average cost of $78.49 per share, for a total transaction of $3,005,382.10. Following the completion of the purchase, the chairman directly owned 93,756 shares of the company’s stock, valued at approximately $7,358,908.44. The trade was a 69.03% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. Insiders bought a total of 95,039 shares of company stock worth $8,100,739 in the last 90 days. 22.21% of the stock is owned by corporate insiders.

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.