Hamilton Lane Inc. (NASDAQ:HLNE) Posts Quarterly Earnings Results, Beats Expectations By $0.07 EPS
Hamilton Lane Inc. (NASDAQ:HLNE) announced its earnings results on Tuesday. The company reported $0.33 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.26 by $0.07, Bloomberg Earnings reports. The business had revenue of $52.70 million for the quarter, compared to analysts’ expectations of $50.69 million. During the same period in the prior year, the business earned $0.30 earnings per share. The company’s revenue for the quarter was up 33.2% compared to the same quarter last year.
Shares of Hamilton Lane (NASDAQ HLNE) traded up 2.44% during midday trading on Tuesday, reaching $22.63. The company had a trading volume of 131,202 shares. The stock has a market capitalization of $435.99 million and a PE ratio of 754.33. The company’s 50-day moving average is $22.05 and its 200-day moving average is $20.14. Hamilton Lane has a 1-year low of $17.32 and a 1-year high of $24.00.
The company also recently disclosed a quarterly dividend, which was paid on Monday, July 10th. Investors of record on Monday, June 26th were issued a $0.175 dividend. This represents a $0.70 annualized dividend and a yield of 3.17%. The ex-dividend date of this dividend was Thursday, June 22nd.
Several equities research analysts have recently issued reports on the company. Zacks Investment Research lowered Hamilton Lane from a “buy” rating to a “hold” rating in a research report on Tuesday, July 11th. Morgan Stanley reaffirmed an “overweight” rating and set a $23.00 target price (down from $24.00) on shares of Hamilton Lane in a research report on Monday, July 10th. Finally, Keefe, Bruyette & Woods reaffirmed a “hold” rating and set a $21.00 target price on shares of Hamilton Lane in a research report on Friday, April 28th. Four equities research analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and an average price target of $21.80.
A number of hedge funds have recently bought and sold shares of the stock. Henderson Group PLC purchased a new stake in Hamilton Lane during the first quarter worth approximately $117,000. Wells Fargo & Company MN purchased a new stake in Hamilton Lane during the first quarter worth approximately $131,000. SG Americas Securities LLC purchased a new stake in Hamilton Lane during the first quarter worth approximately $194,000. Royce & Associates LP boosted its stake in Hamilton Lane by 7.1% in the second quarter. Royce & Associates LP now owns 161,716 shares of the company’s stock worth $3,556,000 after buying an additional 10,788 shares during the period. Finally, Point72 Asia Hong Kong Ltd purchased a new stake in Hamilton Lane during the first quarter worth approximately $202,000. Institutional investors own 61.74% of the company’s stock.
Hamilton Lane Company Profile
Hamilton Lane Incorporated is a global private markets investment solutions provider. The Company works with its clients to conceive, structure, build out, manage and monitor portfolios of private markets funds and direct investments, and it helps them access a set of such investment opportunities around the world.
Receive News & Ratings for Hamilton Lane Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Hamilton Lane Inc. and related companies with MarketBeat.com's FREE daily email newsletter.