Argent Capital Management LLC Raises Stock Holdings in Hamilton Lane Inc. $HLNE

Key Points

• Argent Capital Management increased its Hamilton Lane stake by 53.9% in the first quarter, bringing its holdings to 55,236 shares valued at approximately $5.49 million. Institutional investors collectively own 97.4% of the company.
• Hamilton Lane exceeded quarterly EPS expectations, reporting $1.49 versus the $1.43 consensus, although revenue fell 2.2% year over year to $193.57 million. The company also authorized a $100 million share buyback and raised its quarterly dividend to $0.60 per share.
• Analysts maintain a “Moderate Buy” consensus with an average price target of $131.71, despite several recent target reductions. Company insiders have also purchased approximately $8.1 million of stock over the past three months.

Argent Capital Management LLC lifted its position in Hamilton Lane Inc. (NASDAQ:HLNE - Free Report) by 53.9% in the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 55,236 shares of the company's stock after purchasing an additional 19,345 shares during the quarter. Argent Capital Management LLC owned about 0.10% of Hamilton Lane worth $5,490,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Edgestream Partners L.P. acquired a new position in Hamilton Lane in the first quarter valued at approximately $233,000. Janus Henderson Group PLC grew its stake in shares of Hamilton Lane by 12.9% during the 1st quarter. Janus Henderson Group PLC now owns 905,660 shares of the company's stock worth $90,045,000 after purchasing an additional 103,663 shares during the period. Amundi grew its stake in shares of Hamilton Lane by 18.9% during the 1st quarter. Amundi now owns 24,167 shares of the company's stock worth $2,402,000 after purchasing an additional 3,833 shares during the period. California State Teachers Retirement System increased its holdings in shares of Hamilton Lane by 24.2% during the 1st quarter. California State Teachers Retirement System now owns 49,007 shares of the company's stock valued at $4,871,000 after purchasing an additional 9,556 shares in the last quarter. Finally, Royal Bank of Canada increased its holdings in shares of Hamilton Lane by 33.3% during the 1st quarter. Royal Bank of Canada now owns 148,906 shares of the company's stock valued at $14,801,000 after purchasing an additional 37,167 shares in the last quarter. Institutional investors and hedge funds own 97.40% of the company's stock.

Hamilton Lane Stock Down 0.0%

HLNE opened at $88.91 on Friday. The firm has a market cap of $4.94 billion, a price-to-earnings ratio of 15.04 and a beta of 1.16. Hamilton Lane Inc. has a 52 week low of $71.88 and a 52 week high of $161.13. The business's 50 day moving average is $82.63 and its two-hundred day moving average is $100.80.

Hamilton Lane (NASDAQ:HLNE - Get Free Report) last announced its earnings results on Thursday, May 21st. The company reported $1.49 EPS for the quarter, beating analysts' consensus estimates of $1.43 by $0.06. Hamilton Lane had a net margin of 32.83% and a return on equity of 25.98%. The business had revenue of $193.57 million for the quarter, compared to analysts' expectations of $203.05 million. During the same period in the previous year, the company posted $1.21 EPS. The company's quarterly revenue was down 2.2% on a year-over-year basis. Equities analysts expect that Hamilton Lane Inc. will post 6.45 EPS for the current fiscal year.

Hamilton Lane declared that its Board of Directors has authorized a share buyback program on Thursday, May 21st that allows the company to buyback $100.00 million in shares. This buyback authorization allows the company to purchase up to 2% of its shares through open market purchases. Shares buyback programs are often an indication that the company's board of directors believes its stock is undervalued.

Hamilton Lane Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, July 7th. Shareholders of record on Thursday, June 18th were given a dividend of $0.60 per share. This represents a $2.40 annualized dividend and a yield of 2.7%. The ex-dividend date was Thursday, June 18th. This is a positive change from Hamilton Lane's previous quarterly dividend of $0.54. Hamilton Lane's payout ratio is presently 40.61%.

Insider Buying and Selling

In related news, COO Andrea Anigati Kramer purchased 1,283 shares of the stock in a transaction dated Thursday, June 11th. The shares were acquired at an average cost 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 in the company, valued at $6,766,131. This trade represents a 1.49% increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Chairman Hartley R. Rogers purchased 55,000 shares of the business's stock in a transaction dated Tuesday, May 26th. The stock was bought at an average price of $90.05 per share, with a total value of $4,952,750.00. Following the acquisition, the chairman directly owned 55,000 shares in the company, valued at approximately $4,952,750. This represents a ∞ increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. Over the last three months, insiders have bought 95,039 shares of company stock valued at $8,100,739. Company insiders own 23.99% of the company's stock.

Analyst Upgrades and Downgrades

A number of research analysts recently weighed in on HLNE shares. 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. The Goldman Sachs Group decreased their target price on Hamilton Lane from $148.00 to $128.00 and set a "buy" rating on the stock in a research report on Tuesday, June 30th. Oppenheimer lowered their price target 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. JPMorgan Chase & Co. dropped their price target on Hamilton Lane from $166.00 to $148.00 and set an "overweight" rating for the company in a research report on Monday, May 18th. Finally, BMO Capital Markets set a $94.00 price objective on Hamilton Lane in a research note on Monday, July 13th. Six investment analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average target price of $131.71.

Hamilton Lane 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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