Hamilton Lane Inc. (NASDAQ:HLNE) Receives Average Recommendation of “Moderate Buy” from Brokerages

Shares of Hamilton Lane Inc. (NASDAQ:HLNE) have been assigned an average recommendation of “Moderate Buy” from the ten analysts that are currently covering the company, MarketBeat.com reports. Four equities research analysts have rated the stock with a hold rating and six have issued a buy rating on the company. The average 1-year price objective among brokerages that have covered the stock in the last year is $149.6250.

Several brokerages have commented on HLNE. The Goldman Sachs Group set a $148.00 price objective on shares of Hamilton Lane and gave the stock a “buy” rating in a research report on Friday, May 22nd. JPMorgan Chase & Co. lowered their price objective on shares of Hamilton Lane from $166.00 to $148.00 and set an “overweight” rating on the stock in a research report on Monday, May 18th. BMO Capital Markets lowered their price objective on shares of Hamilton Lane from $108.00 to $102.00 and set an “outperform” rating on the stock in a research report on Friday, May 22nd. Morgan Stanley lowered their price objective on shares of Hamilton Lane from $159.00 to $141.00 and set an “equal weight” rating on the stock in a research report on Tuesday, April 21st. Finally, Weiss Ratings reaffirmed a “hold (c)” rating on shares of Hamilton Lane in a research report on Wednesday, June 3rd.

Hamilton Lane Price Performance

HLNE opened at $75.63 on Wednesday. The company’s 50-day moving average is $89.05 and its 200 day moving average is $111.09. Hamilton Lane has a fifty-two week low of $74.96 and a fifty-two week high of $161.13. The firm has a market capitalization of $4.20 billion, a P/E ratio of 12.80 and a beta of 1.14.

Hamilton Lane (NASDAQ:HLNE) last released its quarterly earnings results on Thursday, May 21st. The company reported $1.49 earnings per share for the quarter, beating analysts’ consensus estimates of $1.43 by $0.06. The company had revenue of $193.57 million for the quarter, compared to analyst estimates of $203.05 million. Hamilton Lane had a net margin of 32.83% and a return on equity of 25.98%. The firm’s revenue was down 2.2% on a year-over-year basis. During the same period last year, the firm earned $1.21 earnings per share. On average, equities research analysts expect that Hamilton Lane will post 6.33 earnings per share for the current year.

Hamilton Lane Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 7th. Shareholders of record on Thursday, June 18th will be given a $0.60 dividend. This is a positive change from Hamilton Lane’s previous quarterly dividend of $0.54. This represents a $2.40 annualized dividend and a yield of 3.2%. The ex-dividend date of this dividend is Thursday, June 18th. Hamilton Lane’s payout ratio is presently 40.61%.

Hamilton Lane announced that its Board of Directors has approved a stock repurchase program on Thursday, May 21st that authorizes the company to repurchase $100.00 million in outstanding shares. This repurchase authorization authorizes the company to reacquire up to 2% of its shares through open market purchases. Shares repurchase programs are typically an indication that the company’s board believes its stock is undervalued.

Insider Activity

In other Hamilton Lane news, Chairman Hartley R. Rogers bought 55,000 shares of Hamilton Lane stock in a transaction dated Tuesday, May 26th. The stock was purchased at an average price of $90.05 per share, for a total transaction of $4,952,750.00. Following the completion of the purchase, the chairman directly owned 55,000 shares of the company’s stock, valued at approximately $4,952,750. This trade represents a ∞ increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which is accessible through this link. Also, COO Andrea Anigati Kramer bought 1,283 shares of Hamilton Lane stock in a transaction dated Thursday, June 11th. The stock was acquired at an average price of $77.46 per share, with a total value of $99,381.18. Following the purchase, the chief operating officer directly owned 87,350 shares of the company’s stock, valued at approximately $6,766,131. This represents a 1.49% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. Insiders bought 95,039 shares of company stock valued at $8,100,739 in the last quarter. Corporate insiders own 22.21% of the company’s stock.

Hedge Funds Weigh In On Hamilton Lane

Several large investors have recently modified their holdings of HLNE. Quarry LP increased its stake in shares of Hamilton Lane by 2,557.1% in the third quarter. Quarry LP now owns 186 shares of the company’s stock worth $25,000 after purchasing an additional 179 shares in the last quarter. Advisory Services Network LLC purchased a new position in shares of Hamilton Lane in the third quarter worth about $26,000. Parallel Advisors LLC increased its stake in shares of Hamilton Lane by 81.2% in the fourth quarter. Parallel Advisors LLC now owns 241 shares of the company’s stock worth $32,000 after purchasing an additional 108 shares in the last quarter. Geneos Wealth Management Inc. increased its stake in shares of Hamilton Lane by 196.9% in the first quarter. Geneos Wealth Management Inc. now owns 383 shares of the company’s stock worth $57,000 after purchasing an additional 254 shares in the last quarter. Finally, Optiver Holding B.V. increased its stake in shares of Hamilton Lane by 124.7% in the third quarter. Optiver Holding B.V. now owns 427 shares of the company’s stock worth $58,000 after purchasing an additional 237 shares in the last quarter. Hedge funds and other institutional investors own 97.40% of the company’s stock.

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.