Hamilton Lane (NASDAQ:HLNE) Posts Quarterly Earnings Results, Beats Expectations By $0.41 EPS

Hamilton Lane (NASDAQ:HLNEGet Free Report) released its earnings results on Tuesday. The company reported $1.94 earnings per share for the quarter, beating the consensus estimate 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 previous year, the firm earned $1.47 earnings per share. The company’s quarterly revenue was up 56.5% compared to the same quarter last year.

Hamilton Lane Trading Up 4.6%

Shares of HLNE opened at $99.27 on Tuesday. Hamilton Lane has a 1 year low of $71.88 and a 1 year high of $161.13. The stock has a 50 day simple moving average of $82.72 and a 200-day simple moving average of $100.08. The stock has a market cap of $5.51 billion, a PE ratio of 16.79 and a beta of 1.14.

Hamilton Lane Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, July 7th. Stockholders of record on Thursday, June 18th were paid a $0.60 dividend. The ex-dividend date was Thursday, June 18th. This represents a $2.40 annualized dividend and a dividend yield of 2.4%. This is an increase from Hamilton Lane’s previous quarterly dividend of $0.54. Hamilton Lane’s dividend payout ratio is currently 40.61%.

Insider Buying and Selling at Hamilton Lane

In related news, Chairman Hartley R. Rogers purchased 38,290 shares of the firm’s stock in a transaction that occurred on Thursday, June 11th. The shares were acquired at an average price of $78.49 per share, with a total value of $3,005,382.10. Following the purchase, the chairman directly owned 93,756 shares in the company, valued at $7,358,908.44. This represents a 69.03% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, COO Andrea Anigati Kramer purchased 1,283 shares of the stock in a transaction on Thursday, June 11th. The stock was bought at an average price of $77.46 per share, for a total transaction 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. This trade represents a 1.49% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. In the last ninety days, insiders purchased 95,039 shares of company stock worth $8,100,739. 23.99% of the stock is owned by insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of the business. Smartleaf Asset Management LLC increased its position in Hamilton Lane by 35.9% in the 4th quarter. Smartleaf Asset Management LLC now owns 818 shares of the company’s stock valued at $111,000 after acquiring an additional 216 shares in the last quarter. Quadrant Capital Group LLC lifted its position in shares of Hamilton Lane by 52.4% during the fourth quarter. Quadrant Capital Group LLC now owns 870 shares of the company’s stock worth $117,000 after purchasing an additional 299 shares in the last quarter. Steward Partners Investment Advisory LLC grew its stake in shares of Hamilton Lane by 12.9% during the fourth quarter. Steward Partners Investment Advisory LLC now owns 899 shares of the company’s stock valued at $121,000 after purchasing an additional 103 shares during the last quarter. FJ Capital Management LLC bought a new stake in shares of Hamilton Lane during the third quarter valued at approximately $217,000. Finally, Caisse de depot et placement du Quebec acquired a new stake in shares of Hamilton Lane in the third quarter valued at approximately $226,000. 97.40% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of analysts have commented on HLNE shares. Weiss Ratings downgraded Hamilton Lane from a “hold (c)” rating to a “hold (c-)” rating in a research report on Monday, July 20th. Zacks Research cut Hamilton Lane from a “strong-buy” rating to a “hold” rating in a research report on Monday, April 6th. Keefe, Bruyette & Woods cut their target price on Hamilton Lane from $115.00 to $105.00 and set an “outperform” rating for the company in a research note on Friday, July 10th. Oppenheimer reduced their target price on Hamilton Lane from $176.00 to $174.00 and set an “outperform” rating for the company in a research report on Friday, July 17th. Finally, Morgan Stanley decreased 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 investment analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $131.71.

Get Our Latest Research Report on Hamilton Lane

Hamilton Lane announced that its board has authorized a stock repurchase plan on Thursday, May 21st that authorizes the company to repurchase $100.00 million in outstanding shares. This repurchase authorization authorizes the company to purchase up to 2% of its stock through open market purchases. Stock repurchase plans are generally an indication that the company’s management believes its stock is undervalued.

About Hamilton Lane

(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.

See Also

Earnings History for Hamilton Lane (NASDAQ:HLNE)

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