Key Points
- Chairman Hartley Rogers bought 55,000 Hamilton Lane shares at an average price of $90.05, a transaction valued at about $4.95 million and disclosed in an SEC filing.
- Hamilton Lane reported Q1 earnings that beat EPS expectations, with $1.49 per share versus the $1.43 consensus, though revenue came in below estimates and declined 2.2% year over year.
- The company raised its quarterly dividend to $0.60 per share and authorized a $100 million stock buyback, while analysts currently have a consensus rating of Moderate Buy with a $150 average price target.
Hamilton Lane Inc. (NASDAQ:HLNE - Get Free Report) Chairman Hartley Rogers acquired 466 shares of the business's stock in a transaction on Wednesday, May 27th. The stock was acquired at an average price of $92.76 per share, with a total value of $43,226.16. Following the acquisition, the chairman owned 55,466 shares in the company, valued at $5,145,026.16. The trade was a 0.85% increase in their position. The purchase was disclosed in a document filed with the SEC, which is available at this link.
Hamilton Lane Trading Down 4.8%
HLNE stock opened at $86.15 on Friday. The company has a market cap of $4.81 billion, a price-to-earnings ratio of 14.58 and a beta of 1.18. Hamilton Lane Inc. has a 12 month low of $82.23 and a 12 month high of $179.19. The firm has a 50-day moving average of $94.76 and a two-hundred day moving average of $116.63.
Hamilton Lane (NASDAQ:HLNE - Get Free Report) last released its quarterly earnings data on Thursday, May 21st. The company reported $1.49 EPS for the quarter, beating analysts' consensus estimates of $1.43 by $0.06. The company had revenue of $193.57 million during the quarter, compared to the consensus estimate of $203.05 million. Hamilton Lane had a net margin of 32.83% and a return on equity of 25.98%. Hamilton Lane's quarterly revenue was down 2.2% on a year-over-year basis. During the same quarter in the prior year, the firm earned $1.21 EPS. As a group, equities analysts forecast that Hamilton Lane Inc. will post 6.26 earnings per share for the current year.
Hamilton Lane announced that its board has approved a share buyback plan on Thursday, May 21st that allows the company to repurchase $100.00 million in shares. This repurchase authorization allows the company to buy up to 2% of its stock through open market purchases. Stock repurchase plans are often an indication that the company's management believes its shares are undervalued.
Hamilton Lane Increases Dividend
The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 7th. Shareholders of record on Thursday, June 18th will be issued a $0.60 dividend. This represents a $2.40 dividend on an annualized basis and a yield of 2.8%. The ex-dividend date is Thursday, June 18th. This is a positive change from Hamilton Lane's previous quarterly dividend of $0.54. Hamilton Lane's payout ratio is currently 36.55%.
Analyst Ratings Changes
Several analysts have recently weighed in on HLNE shares. Morgan Stanley dropped their price target on shares of Hamilton Lane from $159.00 to $141.00 and set an "equal weight" rating for the company in a research note on Tuesday, April 21st. Zacks Research cut shares of Hamilton Lane from a "strong-buy" rating to a "hold" rating in a research note on Monday, April 6th. Oppenheimer increased their price target on shares of Hamilton Lane from $171.00 to $179.00 and gave the company an "outperform" rating in a research note on Friday, May 22nd. BMO Capital Markets dropped their price target on shares of Hamilton Lane from $108.00 to $102.00 and set an "outperform" rating for the company in a research note on Friday, May 22nd. Finally, Keefe, Bruyette & Woods reissued an "outperform" rating on shares of Hamilton Lane in a research note on Friday, May 22nd. Six research analysts have rated the stock with a Buy rating and four have given a Hold rating to the company's stock. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $150.00.
Check Out Our Latest Stock Analysis on HLNE
Hedge Funds Weigh In On Hamilton Lane
A number of hedge funds have recently made changes to their positions in HLNE. Quarry LP boosted its position 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 purchasing an additional 179 shares during the period. Advisory Services Network LLC purchased a new position in shares of Hamilton Lane during the 3rd quarter worth approximately $26,000. Cornerstone Planning Group LLC boosted its position in shares of Hamilton Lane by 347.7% during the 3rd quarter. Cornerstone Planning Group LLC now owns 197 shares of the company's stock worth $27,000 after purchasing an additional 153 shares during the period. Hantz Financial Services Inc. boosted its position in shares of Hamilton Lane by 80.5% during the 3rd quarter. Hantz Financial Services Inc. now owns 213 shares of the company's stock worth $29,000 after purchasing an additional 95 shares during the period. Finally, Parallel Advisors LLC boosted 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 purchasing an additional 108 shares during the period. Hedge funds and other institutional investors own 97.40% of the company's stock.
Hamilton Lane Company Profile
(
Get Free Report)
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.
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