State of Tennessee Department of Treasury Purchases New Stake in Hamilton Lane Incorporated (NASDAQ:HLNE)

State of Tennessee Department of Treasury purchased a new position in Hamilton Lane Incorporated (NASDAQ:HLNE - Free Report) during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund purchased 16,142 shares of the company's stock, valued at approximately $2,390,000.

Several other hedge funds have also recently made changes to their positions in HLNE. Vanguard Group Inc. raised its stake in Hamilton Lane by 28.4% in the 4th quarter. Vanguard Group Inc. now owns 3,901,933 shares of the company's stock valued at $577,681,000 after acquiring an additional 863,326 shares during the period. Norges Bank bought a new stake in shares of Hamilton Lane in the fourth quarter valued at approximately $68,909,000. Invesco Ltd. boosted its holdings in Hamilton Lane by 25.3% in the 4th quarter. Invesco Ltd. now owns 1,923,253 shares of the company's stock worth $284,738,000 after buying an additional 388,019 shares during the period. Artemis Investment Management LLP bought a new stake in Hamilton Lane during the 4th quarter valued at $30,350,000. Finally, Raymond James Financial Inc. bought a new position in shares of Hamilton Lane in the fourth quarter worth $24,081,000. 97.40% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of brokerages recently issued reports on HLNE. The Goldman Sachs Group cut Hamilton Lane from a "neutral" rating to a "sell" rating and set a $139.00 price objective on the stock. in a report on Monday, January 6th. Oppenheimer upgraded shares of Hamilton Lane from a "market perform" rating to an "outperform" rating and set a $186.00 price objective for the company in a research report on Tuesday, January 21st. Wells Fargo & Company lowered their target price on shares of Hamilton Lane from $152.00 to $147.00 and set an "equal weight" rating on the stock in a research note on Tuesday, April 8th. Keefe, Bruyette & Woods upped their price target on shares of Hamilton Lane from $158.00 to $168.00 and gave the stock a "market perform" rating in a report on Wednesday, February 5th. Finally, Morgan Stanley reduced their target price on Hamilton Lane from $190.00 to $157.00 and set an "equal weight" rating for the company in a research report on Monday, April 14th. One equities research analyst has rated the stock with a sell rating, five have given a hold rating and one has issued a buy rating to the company. According to MarketBeat, Hamilton Lane has a consensus rating of "Hold" and a consensus price target of $164.14.

Hamilton Lane Price Performance

Shares of Hamilton Lane stock traded up $4.97 during trading on Friday, hitting $160.59. 394,377 shares of the stock traded hands, compared to its average volume of 431,817. The firm's fifty day moving average is $145.61 and its 200-day moving average is $160.76. The stock has a market cap of $8.90 billion, a price-to-earnings ratio of 29.63 and a beta of 1.31. Hamilton Lane Incorporated has a 52 week low of $114.25 and a 52 week high of $203.72. The company has a quick ratio of 4.19, a current ratio of 4.19 and a debt-to-equity ratio of 0.34.

Hamilton Lane (NASDAQ:HLNE - Get Free Report) last announced its quarterly earnings data on Tuesday, February 4th. The company reported $1.25 earnings per share for the quarter, topping analysts' consensus estimates of $1.13 by $0.12. The firm had revenue of $168.26 million during the quarter, compared to analyst estimates of $158.86 million. Hamilton Lane had a net margin of 31.12% and a return on equity of 36.69%. The business's quarterly revenue was up 34.3% on a year-over-year basis. During the same period in the previous year, the business posted $0.71 EPS. Research analysts expect that Hamilton Lane Incorporated will post 4.97 EPS for the current fiscal year.

Hamilton Lane Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, April 4th. Stockholders of record on Friday, March 14th were paid a dividend of $0.49 per share. The ex-dividend date was Friday, March 14th. This represents a $1.96 dividend on an annualized basis and a dividend yield of 1.22%. Hamilton Lane's dividend payout ratio (DPR) is currently 36.16%.

Hamilton Lane Company Profile

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.