Hartley Rogers Purchases 55,000 Shares of Hamilton Lane (NASDAQ:HLNE) Stock

Hamilton Lane Inc. (NASDAQ:HLNE) Chairman Hartley Rogers purchased 55,000 shares of Hamilton Lane stock in a transaction dated Tuesday, May 26th. The shares were bought at an average price of $90.05 per share, with a total value of $4,952,750.00. Following the completion of the acquisition, the chairman directly owned 55,000 shares of the company’s stock, valued at approximately $4,952,750. This represents a ∞ increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink.

Hamilton Lane Stock Up 1.1%

NASDAQ:HLNE opened at $87.11 on Friday. The stock has a market cap of $4.86 billion, a price-to-earnings ratio of 14.74 and a beta of 1.18. The company’s 50 day moving average price is $94.45 and its 200-day moving average price is $116.42. Hamilton Lane Inc. has a 52 week low of $82.23 and a 52 week high of $179.19.

Hamilton Lane (NASDAQ:HLNE) last released its quarterly earnings data on Thursday, May 21st. The company reported $1.49 EPS for the quarter, topping the consensus estimate of $1.43 by $0.06. Hamilton Lane had a return on equity of 25.98% and a net margin of 32.83%.The company had revenue of $193.57 million during the quarter, compared to the consensus estimate of $203.05 million. During the same period last year, the company earned $1.21 EPS. Hamilton Lane’s revenue for the quarter was down 2.2% on a year-over-year basis. As a group, sell-side analysts anticipate that Hamilton Lane Inc. will post 6.26 earnings per share for the current year.

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 shares through open market purchases. Shares repurchase programs are generally an indication that the company’s board believes its shares are undervalued.

Hamilton Lane Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 7th. Stockholders of record on Thursday, June 18th will be given a dividend of $0.60 per share. This represents a $2.40 dividend on an annualized basis and a dividend yield of 2.8%. The ex-dividend date of this dividend is Thursday, June 18th. This is a positive change from Hamilton Lane’s previous quarterly dividend of $0.54. Hamilton Lane’s payout ratio is presently 40.61%.

Hedge Funds Weigh In On Hamilton Lane

Hedge funds and other institutional investors have recently modified their holdings of the stock. Millennium Management LLC lifted its position in shares of Hamilton Lane by 418.8% in the third quarter. Millennium Management LLC now owns 1,060,511 shares of the company’s stock worth $142,946,000 after buying an additional 856,112 shares in the last quarter. Principal Financial Group Inc. increased its stake in Hamilton Lane by 148.3% in the 4th quarter. Principal Financial Group Inc. now owns 1,085,850 shares of the company’s stock worth $145,844,000 after acquiring an additional 648,588 shares during the last quarter. Norges Bank purchased a new stake in shares of Hamilton Lane during the 4th quarter worth approximately $68,657,000. Balyasny Asset Management L.P. boosted its position in shares of Hamilton Lane by 117.8% during the 4th quarter. Balyasny Asset Management L.P. now owns 756,148 shares of the company’s stock valued at $101,558,000 after acquiring an additional 409,013 shares during the last quarter. Finally, Westfield Capital Management Co. LP bought a new position in shares of Hamilton Lane during the 4th quarter valued at approximately $48,820,000. Institutional investors own 97.40% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms recently issued reports on HLNE. JPMorgan Chase & Co. reduced their target price on shares of Hamilton Lane from $166.00 to $148.00 and set an “overweight” rating for the company in a report on Monday, May 18th. BMO Capital Markets reduced their price objective on shares of Hamilton Lane from $108.00 to $102.00 and set an “outperform” rating for the company in a research note on Friday, May 22nd. Zacks Research cut 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 for the company in a report on Friday, February 20th. Finally, Morgan Stanley cut their price target on Hamilton Lane from $159.00 to $141.00 and set an “equal weight” rating for the company in a research note on Tuesday, April 21st. Six investment analysts have rated the stock with a Buy rating and four have given a Hold rating to the company. Based on data from MarketBeat, Hamilton Lane currently has a consensus rating of “Moderate Buy” and an average target price of $150.00.

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.