Hamilton Lane (NASDAQ:HLNE) Announces Earnings Results

Hamilton Lane (NASDAQ:HLNE) issued its quarterly earnings results on Tuesday. The company reported $1.94 earnings per share for the quarter, beating analysts’ consensus estimates of $1.53 by $0.41, Zacks reports. Hamilton Lane had a net margin of 32.83% and a return on equity of 25.98%. During the same period in the prior year, the business posted $1.47 earnings per share. The firm’s quarterly revenue was up 56.5% compared to the same quarter last year.

Hamilton Lane Stock Performance

Shares of HLNE stock opened at $94.91 on Tuesday. The stock has a market cap of $5.27 billion, a PE ratio of 16.06 and a beta of 1.14. Hamilton Lane has a 52-week low of $71.88 and a 52-week high of $161.13. The firm’s 50 day moving average price is $82.72 and its two-hundred day moving average price is $100.08.

Hamilton Lane Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, July 7th. Stockholders of record on Thursday, June 18th were paid a $0.60 dividend. This represents a $2.40 dividend on an annualized basis and a dividend yield of 2.5%. This is an increase from Hamilton Lane’s previous quarterly dividend of $0.54. The ex-dividend date was Thursday, June 18th. Hamilton Lane’s dividend payout ratio is presently 40.61%.

Hamilton Lane declared that its Board of Directors has initiated a stock repurchase plan on Thursday, May 21st that allows the company to repurchase $100.00 million in outstanding shares. This repurchase authorization allows the company to buy up to 2% of its shares through open market purchases. Shares repurchase plans are often a sign that the company’s management believes its shares are undervalued.

Wall Street Analyst Weigh In

Several equities research analysts have recently weighed in on the company. The Goldman Sachs Group reduced their price objective on Hamilton Lane from $148.00 to $128.00 and set a “buy” rating for the company in a research note on Tuesday, June 30th. Zacks Research cut shares of Hamilton Lane from a “strong-buy” rating to a “hold” rating in a report on Monday, April 6th. Keefe, Bruyette & Woods decreased their target price on Hamilton Lane from $115.00 to $105.00 and set an “outperform” rating for the company in a research report on Friday, July 10th. BMO Capital Markets set a $94.00 price objective on Hamilton Lane in a research note on Monday, July 13th. Finally, Morgan Stanley dropped their price target on shares of Hamilton Lane from $141.00 to $123.00 and set an “equal weight” rating on the stock in a research note on Tuesday, July 21st. Six equities research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $131.71.

Insider Buying and Selling

In related news, COO Andrea Anigati Kramer acquired 1,283 shares of the stock in a transaction dated Thursday, June 11th. The stock was bought at an average price of $77.46 per share, with a total value of $99,381.18. Following the completion of the transaction, the chief operating officer directly owned 87,350 shares of the company’s stock, valued at approximately $6,766,131. The trade was a 1.49% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Chairman Hartley R. Rogers bought 55,000 shares of Hamilton Lane stock in a transaction that occurred on Tuesday, May 26th. The shares were acquired at an average price of $90.05 per share, with a total value of $4,952,750.00. Following the acquisition, the chairman directly owned 55,000 shares of the company’s stock, valued at $4,952,750. The trade was a ∞ increase in their position. The SEC filing for this purchase provides additional information. In the last ninety days, insiders acquired 95,039 shares of company stock worth $8,100,739. Insiders own 23.99% of the company’s stock.

Institutional Trading of Hamilton Lane

A number of institutional investors have recently modified their holdings of the stock. Quarry LP raised its holdings in shares of Hamilton Lane by 2,557.1% during the 3rd quarter. Quarry LP now owns 186 shares of the company’s stock worth $25,000 after buying an additional 179 shares in the last quarter. Advisory Services Network LLC bought a new position in Hamilton Lane during the third quarter worth $26,000. Parallel Advisors LLC grew its position in shares of Hamilton Lane by 81.2% during the 4th quarter. Parallel Advisors LLC now owns 241 shares of the company’s stock worth $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 worth $57,000 after purchasing an additional 254 shares during the last quarter. Finally, Arax Advisory Partners bought a new stake in shares of Hamilton Lane in the 4th quarter worth approximately $71,000. 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.