Hamilton Lane (NASDAQ:HLNE) Trading Up 5% on Insider Buying Activity

Shares of Hamilton Lane Inc. (NASDAQ:HLNE) traded up 5% during mid-day trading on Tuesday following insider buying activity. The stock traded as high as $86.34 and last traded at $86.12. 97,254 shares changed hands during mid-day trading, a decline of 88% from the average session volume of 807,468 shares. The stock had previously closed at $81.99.

Specifically, COO Andrea Anigati Kramer acquired 1,283 shares of Hamilton Lane stock in a transaction dated Thursday, June 11th. The stock was purchased at an average cost of $77.46 per share, for a total transaction of $99,381.18. Following the completion of the acquisition, the chief operating officer directly owned 87,350 shares of the company’s stock, valued at $6,766,131. This represents a 1.49% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Chairman Hartley R. Rogers bought 38,290 shares of the business’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 owned 93,756 shares of the company’s stock, valued at $7,358,908.44. The trade was a 69.03% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure.

Wall Street Analysts Forecast Growth

HLNE has been the topic of several analyst reports. Morgan Stanley cut their target price on 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. Oppenheimer lifted their target price on Hamilton Lane from $171.00 to $179.00 and gave the company an “outperform” rating in a research report on Friday, May 22nd. BMO Capital Markets cut their target price on Hamilton Lane from $108.00 to $102.00 and set an “outperform” rating on the stock in a research report on Friday, May 22nd. Keefe, Bruyette & Woods reaffirmed an “outperform” rating on shares of Hamilton Lane in a research report on Friday, May 22nd. Finally, Weiss Ratings reaffirmed a “hold (c)” rating on shares of Hamilton Lane in a research report on Wednesday, June 3rd. Six equities research analysts have rated the stock with a Buy rating and four have given a Hold rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $150.00.

Hamilton Lane Price Performance

The stock has a fifty day moving average of $90.69 and a 200 day moving average of $112.82. The firm has a market capitalization of $4.82 billion, a P/E ratio of 14.63 and a beta of 1.15.

Hamilton Lane (NASDAQ:HLNE) last issued its quarterly earnings results on Thursday, May 21st. The company reported $1.49 EPS for the quarter, topping analysts’ consensus estimates of $1.43 by $0.06. The business had revenue of $193.57 million for the quarter, compared to analyst estimates of $203.05 million. Hamilton Lane had a return on equity of 25.98% and a net margin of 32.83%.Hamilton Lane’s quarterly revenue was down 2.2% compared to the same quarter last year. During the same period last year, the company posted $1.21 earnings per share. Equities analysts forecast that Hamilton Lane Inc. will post 6.33 EPS for the current fiscal year.

Hamilton Lane Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, July 7th. Investors of record on Thursday, June 18th will be issued a dividend of $0.60 per share. This represents a $2.40 dividend on an annualized basis and a yield of 2.8%. This is an increase from Hamilton Lane’s previous quarterly dividend of $0.54. The ex-dividend date is Thursday, June 18th. Hamilton Lane’s dividend payout ratio is 36.55%.

Hamilton Lane announced that its Board of Directors has approved a share buyback program on Thursday, May 21st that allows the company to buyback $100.00 million in outstanding shares. This buyback authorization allows the company to repurchase up to 2% of its stock through open market purchases. Stock buyback programs are usually a sign that the company’s management believes its stock is undervalued.

Institutional Trading of Hamilton Lane

A number of hedge funds have recently bought and sold shares of HLNE. Quarry LP lifted its holdings in Hamilton Lane by 2,557.1% during the third quarter. Quarry LP now owns 186 shares of the company’s stock worth $25,000 after acquiring an additional 179 shares during the period. Advisory Services Network LLC bought a new stake in shares of Hamilton Lane in the third quarter valued at $26,000. Parallel Advisors LLC raised 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 valued at $32,000 after buying an additional 108 shares during the period. Geneos Wealth Management Inc. raised 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 valued at $57,000 after buying an additional 254 shares during the period. Finally, Optiver Holding B.V. raised 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 valued at $58,000 after buying an additional 237 shares during the period. 97.40% of the stock is currently owned by institutional investors.

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.