Deprince Race & Zollo Inc. Acquires 24,072 Shares of Hamilton Lane Inc. $HLNE

Deprince Race & Zollo Inc. lifted its holdings in Hamilton Lane Inc. (NASDAQ:HLNE) by 8.0% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 325,465 shares of the company’s stock after purchasing an additional 24,072 shares during the period. Deprince Race & Zollo Inc. owned 0.58% of Hamilton Lane worth $32,351,000 at the end of the most recent reporting period.

A number of other large investors have also recently bought and sold shares of the business. Millennium Management LLC increased its position in Hamilton Lane by 418.8% during 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 during the last quarter. Principal Financial Group Inc. lifted its position in shares of Hamilton Lane by 148.3% in the fourth quarter. Principal Financial Group Inc. now owns 1,085,850 shares of the company’s stock worth $145,844,000 after buying an additional 648,588 shares during the last quarter. Norges Bank bought a new stake in shares of Hamilton Lane during the 4th quarter worth about $68,657,000. Balyasny Asset Management L.P. boosted its stake 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 worth $101,558,000 after acquiring an additional 409,013 shares in the last quarter. Finally, Westfield Capital Management Co. LP acquired a new position in shares of Hamilton Lane during the 4th quarter valued at about $48,820,000. 97.40% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of brokerages recently weighed in on HLNE. The Goldman Sachs Group cut their price objective on Hamilton Lane from $148.00 to $128.00 and set a “buy” rating on the stock in a research note on Tuesday. Zacks Research downgraded Hamilton Lane from a “strong-buy” rating to a “hold” rating in a report on Monday, April 6th. Weiss Ratings reissued a “hold (c)” rating on shares of Hamilton Lane in a research report on Wednesday, June 3rd. Morgan Stanley dropped their price target 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, Keefe, Bruyette & Woods restated an “outperform” rating on shares of Hamilton Lane in a research note on Friday, May 22nd. Six equities research analysts have rated the stock with a Buy rating and four have given a Hold rating to the stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $147.12.

Hamilton Lane Stock Performance

Hamilton Lane stock opened at $78.66 on Thursday. Hamilton Lane Inc. has a 52 week low of $71.88 and a 52 week high of $161.13. The firm has a market capitalization of $4.37 billion, a PE ratio of 13.31 and a beta of 1.16. The business’s 50-day simple moving average is $85.79 and its 200-day simple moving average is $108.91.

Hamilton Lane (NASDAQ:HLNE) last announced its earnings results on Thursday, May 21st. The company reported $1.49 earnings per share for the quarter, beating the consensus estimate of $1.43 by $0.06. The firm had revenue of $193.57 million during the quarter, compared to the consensus estimate of $203.05 million. Hamilton Lane had a return on equity of 25.98% and a net margin of 32.83%.The firm’s revenue for the quarter was down 2.2% compared to the same quarter last year. During the same quarter in the prior year, the company earned $1.21 EPS. Research analysts forecast that Hamilton Lane Inc. will post 6.33 earnings per share for the current year.

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 $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 dividend yield of 3.1%. The ex-dividend date of this dividend is Thursday, June 18th. Hamilton Lane’s dividend payout ratio (DPR) is currently 40.61%.

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

Insider Activity at Hamilton Lane

In related news, COO Andrea Anigati Kramer acquired 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, for a total transaction of $99,381.18. Following the completion of the purchase, the chief operating officer owned 87,350 shares in the company, valued at approximately $6,766,131. The trade was a 1.49% increase in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Chairman Hartley R. Rogers bought 38,290 shares of the company’s stock in a transaction that occurred on Thursday, June 11th. The shares were bought at an average cost of $78.49 per share, for a total transaction of $3,005,382.10. Following the transaction, the chairman directly owned 93,756 shares of the company’s stock, valued at $7,358,908.44. This trade represents a 69.03% increase in their position. The disclosure for this purchase is available in the SEC filing. Insiders bought 95,039 shares of company stock valued at $8,100,739 over the last three months. 22.21% of the stock is owned by company insiders.

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.