Hamilton Lane Inc. $HLNE Stock Sold by VIRGINIA RETIREMENT SYSTEMS ET Al

VIRGINIA RETIREMENT SYSTEMS ET Al lowered its stake in shares of Hamilton Lane Inc. (NASDAQ:HLNE) by 48.4% during the third quarter, Holdings Channel.com reports. The institutional investor owned 8,300 shares of the company’s stock after selling 7,800 shares during the quarter. VIRGINIA RETIREMENT SYSTEMS ET Al’s holdings in Hamilton Lane were worth $721,000 at the end of the most recent quarter.

Several other hedge funds also recently bought and sold shares of the company. Root Financial Partners LLC bought a new position in Hamilton Lane during the third quarter worth about $27,000. IFP Advisors Inc raised its position in shares of Hamilton Lane by 332.0% during the second quarter. IFP Advisors Inc now owns 419 shares of the company’s stock worth $33,000 after purchasing an additional 322 shares during the period. Fortitude Family Office LLC bought a new position in shares of Hamilton Lane during the 3rd quarter valued at about $51,000. Harbor Investment Advisory LLC bought a new position in shares of Hamilton Lane during the 2nd quarter valued at about $58,000. Finally, GAMMA Investing LLC grew its position in shares of Hamilton Lane by 80.1% in the 3rd quarter. GAMMA Investing LLC now owns 789 shares of the company’s stock valued at $69,000 after purchasing an additional 351 shares during the period. 97.40% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several research analysts have recently weighed in on the stock. Wells Fargo & Company upped their price target on shares of Hamilton Lane from $103.00 to $114.00 and gave the company an “overweight” rating in a report on Wednesday. Weiss Ratings raised Hamilton Lane from a “hold (c-)” rating to a “hold (c)” rating in a research report on Monday, August 31st. BMO Capital Markets decreased their price objective on Hamilton Lane from $116.00 to $95.00 and set an “outperform” rating for the company in a report on Tuesday, October 27th. Zacks Research cut Hamilton Lane from a “strong-buy” rating to a “hold” rating in a research note on Monday, October 19th. Finally, UBS Group upped their price target on Hamilton Lane from $115.00 to $120.00 and gave the stock a “buy” rating in a research report on Thursday. Seven analysts have rated the stock with a Buy rating and three have issued a Hold rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $126.12.

Hamilton Lane Stock Performance

Shares of HLNE traded down $0.67 during mid-day trading on Friday, reaching $89.46. The company’s stock had a trading volume of 616,474 shares, compared to its average volume of 607,645. The company has a current ratio of 3.49, a quick ratio of 3.49 and a debt-to-equity ratio of 0.16. Hamilton Lane Inc. has a 1-year low of $71.88 and a 1-year high of $155.66. The business has a 50-day simple moving average of $89.41 and a two-hundred day simple moving average of $96.59. The stock has a market cap of $4.97 billion, a P/E ratio of 13.27 and a beta of 1.16.

Hamilton Lane (NASDAQ:HLNE) last announced its earnings results on Tuesday, November 3rd. The company reported $1.98 EPS for the quarter, topping the consensus estimate of $1.65 by $0.33. Hamilton Lane had a net margin of 32.14% and a return on equity of 25.10%. The business had revenue of $204.43 million during the quarter, compared to the consensus estimate of $215.23 million. During the same quarter in the previous year, the firm posted $1.54 EPS. Hamilton Lane’s revenue was up 7.1% compared to the same quarter last year. As a group, equities research analysts anticipate that Hamilton Lane Inc. will post 7.61 earnings per share for the current fiscal year.

Hamilton Lane Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, January 7th. Shareholders of record on Monday, December 21st will be issued a $0.60 dividend. The ex-dividend date of this dividend is Monday, December 21st. This represents a $2.40 annualized dividend and a yield of 2.7%. Hamilton Lane’s payout ratio is currently 35.61%.

About Hamilton Lane

Hamilton Lane Incorporated (NASDAQ: HLNE) is a global investment management firm specializing in private markets. The company provides investment solutions and advisory services focused on alternative assets, including private equity, private credit, venture capital, growth equity, infrastructure and real assets.

Hamilton Lane serves institutional investors, family offices, financial advisors and high-net-worth individuals. Its offerings include separately managed accounts, customized portfolios, commingled funds, evergreen vehicles and secondary-market strategies.