Walleye Capital LLC bought a new position in shares of Hamilton Lane Inc. (NASDAQ:HLNE – Free Report) during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor bought 66,352 shares of the company’s stock, valued at approximately $6,595,000. Walleye Capital LLC owned 0.12% of Hamilton Lane at the end of the most recent quarter.
A number of other hedge funds have also recently added to or reduced their stakes in HLNE. Cetera Investment Advisers lifted its holdings in shares of Hamilton Lane by 19.1% during the 1st quarter. Cetera Investment Advisers now owns 23,395 shares of the company’s stock worth $2,325,000 after acquiring an additional 3,760 shares during the period. NewEdge Wealth LLC increased its position in Hamilton Lane by 56.2% during the first quarter. NewEdge Wealth LLC now owns 25,833 shares of the company’s stock worth $2,568,000 after purchasing an additional 9,294 shares during the last quarter. First Trust Advisors LP increased its position in Hamilton Lane by 222.0% during the first quarter. First Trust Advisors LP now owns 10,951 shares of the company’s stock worth $1,089,000 after purchasing an additional 7,550 shares during the last quarter. PNC Financial Services Group Inc. raised its stake in Hamilton Lane by 16.2% during the first quarter. PNC Financial Services Group Inc. now owns 4,580 shares of the company’s stock worth $455,000 after purchasing an additional 638 shares during the period. Finally, Van Berkom & Associates Inc. raised its stake in Hamilton Lane by 9.7% during the first quarter. Van Berkom & Associates Inc. now owns 833,307 shares of the company’s stock worth $82,831,000 after purchasing an additional 73,679 shares during the period. 97.40% of the stock is owned by institutional investors and hedge funds.
Hamilton Lane Trading Down 3.7%
Shares of HLNE stock opened at $81.14 on Thursday. The company has a market cap of $4.51 billion, a PE ratio of 13.73 and a beta of 1.16. The company’s fifty day simple moving average is $82.62 and its 200-day simple moving average is $103.34. Hamilton Lane Inc. has a 52 week low of $71.88 and a 52 week high of $161.13.
Hamilton Lane Increases Dividend
The company also recently disclosed a quarterly dividend, which was paid on Tuesday, July 7th. Stockholders of record on Thursday, June 18th were paid a dividend of $0.60 per share. This is an increase from Hamilton Lane’s previous quarterly dividend of $0.54. This represents a $2.40 dividend on an annualized basis and a dividend yield of 3.0%. The ex-dividend date was Thursday, June 18th. Hamilton Lane’s payout ratio is 40.61%.
Hamilton Lane announced that its board has initiated a stock buyback plan on Thursday, May 21st that permits the company to buyback $100.00 million in outstanding shares. This buyback authorization permits the company to purchase up to 2% of its shares through open market purchases. Shares buyback plans are often an indication that the company’s management believes its stock is undervalued.
Wall Street Analyst Weigh In
Several brokerages have recently issued reports on HLNE. Morgan Stanley lowered their price objective on shares of Hamilton Lane from $141.00 to $123.00 and set an “equal weight” rating for the company in a research note on Tuesday. The Goldman Sachs Group lowered their price target on Hamilton Lane from $148.00 to $128.00 and set a “buy” rating for the company in a research report on Tuesday, June 30th. BMO Capital Markets set a $94.00 price target on Hamilton Lane in a research note on Monday, July 13th. Keefe, Bruyette & Woods cut their price objective on Hamilton Lane from $115.00 to $105.00 and set an “outperform” rating on the stock in a report on Friday, July 10th. Finally, Oppenheimer reduced their price objective on Hamilton Lane from $176.00 to $174.00 and set an “outperform” rating on the stock in a research note on Friday, July 17th. Six research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $131.71.
Check Out Our Latest Stock Analysis on HLNE
Insider Buying and Selling at Hamilton Lane
In other news, COO Andrea Anigati Kramer purchased 1,283 shares of the company’s stock in a transaction that occurred on Thursday, June 11th. The shares were purchased at an average price of $77.46 per share, with a total value of $99,381.18. Following the purchase, the chief operating officer directly owned 87,350 shares of the company’s stock, valued at approximately $6,766,131. This represents a 1.49% increase in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, Chairman Hartley R. Rogers bought 38,290 shares of the company’s stock in a transaction dated Thursday, June 11th. The shares were acquired at an average cost of $78.49 per share, for a total transaction of $3,005,382.10. Following the completion of the transaction, the chairman owned 93,756 shares of the company’s stock, valued at approximately $7,358,908.44. The trade was a 69.03% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. Insiders have purchased a total of 95,039 shares of company stock worth $8,100,739 in the last ninety days. 22.21% of the stock is currently owned by 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.
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