Kayne Anderson Rudnick Investment Management LLC Takes Position in Hamilton Lane Inc. $HLNE

Key Points

• Kayne Anderson Rudnick Investment Management LLC purchased 2,910,957 shares of Hamilton Lane Inc., valued at approximately $432.77 million, making it one of the major institutional shareholders with a 5.25% stake in the company.
• Hamilton Lane reported a quarterly earnings per share (EPS) of $1.31, surpassing analysts' expectations of $0.98, alongside a revenue increase of 11.8% year-over-year.
• The company has announced a quarterly dividend of $0.54 per share, with a scheduled payment date of October 6th, reflecting a dividend yield of 1.4% based on an annual payout of $2.16.

Kayne Anderson Rudnick Investment Management LLC acquired a new stake in Hamilton Lane Inc. (NASDAQ:HLNE - Free Report) in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm acquired 2,910,957 shares of the company's stock, valued at approximately $432,772,000. Kayne Anderson Rudnick Investment Management LLC owned 5.25% of Hamilton Lane as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also made changes to their positions in the stock. MassMutual Private Wealth & Trust FSB raised its position in shares of Hamilton Lane by 252.0% during the 1st quarter. MassMutual Private Wealth & Trust FSB now owns 176 shares of the company's stock worth $26,000 after acquiring an additional 126 shares in the last quarter. Versant Capital Management Inc acquired a new stake in shares of Hamilton Lane during the 1st quarter worth about $30,000. Whittier Trust Co. of Nevada Inc. acquired a new stake in shares of Hamilton Lane during the 1st quarter worth about $33,000. Covestor Ltd raised its position in shares of Hamilton Lane by 375.9% during the 1st quarter. Covestor Ltd now owns 414 shares of the company's stock worth $62,000 after acquiring an additional 327 shares in the last quarter. Finally, Kapitalo Investimentos Ltda acquired a new stake in shares of Hamilton Lane during the 4th quarter worth about $65,000. Hedge funds and other institutional investors own 97.40% of the company's stock.

Hamilton Lane Stock Down 1.0%

HLNE traded down $1.53 on Friday, reaching $153.34. The company's stock had a trading volume of 95,355 shares, compared to its average volume of 554,473. The stock has a market cap of $8.54 billion, a price-to-earnings ratio of 29.48 and a beta of 1.23. Hamilton Lane Inc. has a 1 year low of $124.10 and a 1 year high of $203.72. The company has a debt-to-equity ratio of 0.29, a current ratio of 4.32 and a quick ratio of 4.32. The business's 50 day moving average is $151.29 and its 200 day moving average is $151.08.

Hamilton Lane (NASDAQ:HLNE - Get Free Report) last issued its quarterly earnings results on Tuesday, August 5th. The company reported $1.31 EPS for the quarter, beating analysts' consensus estimates of $0.98 by $0.33. Hamilton Lane had a return on equity of 29.47% and a net margin of 30.66%.The firm had revenue of $196.73 million during the quarter, compared to the consensus estimate of $166.96 million. During the same quarter in the prior year, the business posted $1.47 earnings per share. Hamilton Lane's revenue for the quarter was up 11.8% on a year-over-year basis. As a group, research analysts forecast that Hamilton Lane Inc. will post 4.97 EPS for the current fiscal year.

Hamilton Lane Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, October 6th. Investors of record on Friday, September 19th will be issued a $0.54 dividend. The ex-dividend date of this dividend is Friday, September 19th. This represents a $2.16 annualized dividend and a dividend yield of 1.4%. Hamilton Lane's dividend payout ratio (DPR) is 41.54%.

Wall Street Analysts Forecast Growth

Several research analysts have commented on HLNE shares. JPMorgan Chase & Co. cut their price target on Hamilton Lane from $153.00 to $145.00 and set a "neutral" rating on the stock in a research report on Wednesday, July 23rd. Keefe, Bruyette & Woods lifted their price target on Hamilton Lane from $160.00 to $168.00 and gave the company a "market perform" rating in a research note on Wednesday, August 6th. Oppenheimer downgraded Hamilton Lane from an "outperform" rating to a "market perform" rating in a research report on Thursday, May 15th. Wells Fargo & Company boosted their target price on Hamilton Lane from $161.00 to $162.00 and gave the stock an "equal weight" rating in a research report on Friday, July 11th. Finally, Wall Street Zen upgraded Hamilton Lane from a "sell" rating to a "hold" rating in a research report on Saturday, August 9th. Six research analysts have rated the stock with a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, Hamilton Lane presently has a consensus rating of "Reduce" and a consensus price target of $163.14.

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.