Hamilton Lane (NASDAQ:HLNE) Chairman Hartley Rogers Acquires 38,290 Shares

Hamilton Lane Inc. (NASDAQ:HLNE) Chairman Hartley Rogers purchased 38,290 shares of the firm’s stock in a transaction dated Thursday, June 11th. The stock was acquired at an average cost of $78.49 per share, for a total transaction of $3,005,382.10. Following the purchase, the chairman owned 93,756 shares in the company, valued at approximately $7,358,908.44. The trade was a 69.03% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is accessible through this link.

Hamilton Lane Stock Up 2.4%

Shares of Hamilton Lane stock opened at $81.99 on Tuesday. Hamilton Lane Inc. has a 52 week low of $75.93 and a 52 week high of $161.13. The business’s fifty day simple moving average is $90.69 and its 200-day simple moving average is $112.82. The firm has a market cap of $4.55 billion, a PE ratio of 13.87 and a beta of 1.15.

Hamilton Lane (NASDAQ:HLNE) last announced 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. Hamilton Lane had a return on equity of 25.98% and a net margin of 32.83%.The business had revenue of $193.57 million for the quarter, compared to analyst estimates of $203.05 million. During the same quarter in the prior year, the company posted $1.21 EPS. The company’s quarterly revenue was down 2.2% on a year-over-year basis. As a group, equities analysts expect that Hamilton Lane Inc. will post 6.33 earnings per share for the current year.

Hamilton Lane declared that its board has initiated a stock buyback program on Thursday, May 21st that permits the company to buyback $100.00 million in outstanding shares. This buyback authorization permits the company to reacquire up to 2% of its shares through open market purchases. Shares buyback programs are generally an indication that the company’s management believes its shares are undervalued.

Hamilton Lane Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, July 7th. Investors of record on Thursday, June 18th will be paid a dividend of $0.60 per share. This represents a $2.40 annualized dividend and a yield of 2.9%. 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 dividend payout ratio is currently 36.55%.

Institutional Investors Weigh In On Hamilton Lane

Several large investors have recently bought and sold shares of HLNE. Millennium Management LLC increased its holdings in 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. increased its holdings in Hamilton Lane by 148.3% during the 4th 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 during the period. Norges Bank purchased a new stake in Hamilton Lane during the 4th quarter worth about $68,657,000. Balyasny Asset Management L.P. increased its holdings in Hamilton Lane by 117.8% during the 4th quarter. Balyasny Asset Management L.P. now owns 756,148 shares of the company’s stock worth $101,558,000 after purchasing an additional 409,013 shares during the period. Finally, Westfield Capital Management Co. LP purchased a new stake in Hamilton Lane during the 4th quarter worth about $48,820,000. Hedge funds and other institutional investors own 97.40% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts recently issued reports on the company. BMO Capital Markets decreased their target price on Hamilton Lane from $108.00 to $102.00 and set an “outperform” rating on the stock in a research note on Friday, May 22nd. Weiss Ratings reissued a “hold (c)” rating on shares of Hamilton Lane in a research note on Wednesday, June 3rd. The Goldman Sachs Group set a $148.00 target price on Hamilton Lane and gave the stock a “buy” rating in a research note on Friday, May 22nd. Zacks Research lowered Hamilton Lane from a “strong-buy” rating to a “hold” rating in a research note on Monday, April 6th. Finally, Keefe, Bruyette & Woods reissued an “outperform” rating on shares of Hamilton Lane in a research note on Friday, May 22nd. Six analysts have rated the stock with a Buy rating and four have given a Hold rating to the stock. According to MarketBeat.com, Hamilton Lane currently has an average rating of “Moderate Buy” and a consensus target price of $150.00.

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.