Hamilton Lane (NASDAQ:HLNE) Sets New 1-Year High Following Better-Than-Expected Earnings

Shares of Hamilton Lane Incorporated (NASDAQ:HLNEGet Free Report) hit a new 52-week high during mid-day trading on Thursday following a better than expected earnings announcement. The stock traded as high as $126.87 and last traded at $123.50, with a volume of 29452 shares changing hands. The stock had previously closed at $119.21.

The company reported $1.38 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.00 by $0.38. The company had revenue of $176.67 million for the quarter, compared to analyst estimates of $134.72 million. Hamilton Lane had a net margin of 25.22% and a return on equity of 28.77%.

Hamilton Lane Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, July 5th. Investors of record on Friday, June 14th will be paid a dividend of $0.49 per share. This is a positive change from Hamilton Lane’s previous quarterly dividend of $0.45. The ex-dividend date is Friday, June 14th. This represents a $1.96 annualized dividend and a yield of 1.54%. Hamilton Lane’s dividend payout ratio (DPR) is presently 54.77%.

Analyst Upgrades and Downgrades

Several research analysts recently weighed in on HLNE shares. Keefe, Bruyette & Woods raised their target price on shares of Hamilton Lane from $118.00 to $135.00 and gave the stock a “market perform” rating in a report on Friday. Wells Fargo & Company raised their target price on shares of Hamilton Lane from $106.00 to $111.00 and gave the stock an “equal weight” rating in a report on Wednesday, February 7th. UBS Group raised their target price on shares of Hamilton Lane from $118.00 to $120.00 and gave the stock a “neutral” rating in a report on Friday, April 12th. Finally, JPMorgan Chase & Co. raised their target price on shares of Hamilton Lane from $115.00 to $120.00 and gave the stock a “neutral” rating in a report on Friday. Seven investment analysts have rated the stock with a hold rating, According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $114.00.

Check Out Our Latest Stock Report on Hamilton Lane

Insider Buying and Selling

In related news, major shareholder Oakville Number 2 Trust sold 55,000 shares of the business’s stock in a transaction on Thursday, March 7th. The shares were sold at an average price of $108.00, for a total transaction of $5,940,000.00. Following the transaction, the insider now directly owns 480,015 shares in the company, valued at $51,841,620. The sale was disclosed in a filing with the SEC, which is available through this link. 26.82% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Hamilton Lane

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in HLNE. TD Asset Management Inc boosted its position in Hamilton Lane by 249.5% during the fourth quarter. TD Asset Management Inc now owns 1,143,179 shares of the company’s stock worth $129,682,000 after purchasing an additional 816,102 shares during the period. Epoch Investment Partners Inc. raised its stake in Hamilton Lane by 108.6% in the fourth quarter. Epoch Investment Partners Inc. now owns 799,351 shares of the company’s stock valued at $90,678,000 after purchasing an additional 416,103 shares in the last quarter. Norges Bank acquired a new position in Hamilton Lane in the fourth quarter valued at about $43,195,000. Vanguard Group Inc. raised its stake in Hamilton Lane by 8.3% in the first quarter. Vanguard Group Inc. now owns 3,678,617 shares of the company’s stock valued at $414,801,000 after purchasing an additional 283,190 shares in the last quarter. Finally, Geneva Capital Management LLC acquired a new position in Hamilton Lane in the first quarter valued at about $22,395,000. 97.40% of the stock is owned by institutional investors.

Hamilton Lane Stock Performance

The company has a quick ratio of 2.58, a current ratio of 2.58 and a debt-to-equity ratio of 0.32. The firm has a market cap of $6.86 billion, a price-to-earnings ratio of 39.06 and a beta of 1.16. The stock has a 50 day moving average of $113.61 and a 200 day moving average of $110.26.

About Hamilton Lane

(Get Free Report)

Hamilton Lane Incorporated is a private equity firm specializing in early venture, emerging growth, turnaround, middle market, mature, mid-venture, bridge, buyout, distressed/vulture, loan, mezzanine in growth capital companies. It prefers to invest in energy, industrials, consumer discretionary, health care, real estate, information technology, utilities, and consumer services.

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