Arrowstreet Capital Limited Partnership Takes Position in Hamilton Lane Inc. $HLNE

Key Points

• Arrowstreet Capital acquired 47,725 Hamilton Lane shares worth approximately $4.74 million, representing about 0.09% of the company. Institutional investors collectively own 97.4% of HLNE.
• Hamilton Lane beat quarterly earnings expectations with EPS of $1.49 versus $1.43 estimated, although revenue fell 2.2% year over year to $193.57 million. The company raised its quarterly dividend to $0.60 and authorized a $100 million share-repurchase program.
• Analysts maintain a “Moderate Buy” consensus with an average price target of $131.71, despite several recent target reductions. Company insiders also purchased about $8.1 million of stock over the past three months.

Arrowstreet Capital Limited Partnership acquired a new stake in Hamilton Lane Inc. (NASDAQ:HLNE - Free Report) in the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund acquired 47,725 shares of the company's stock, valued at approximately $4,744,000. Arrowstreet Capital Limited Partnership owned approximately 0.09% of Hamilton Lane as of its most recent filing with the Securities & Exchange Commission.

Other large investors have also recently added to or reduced their stakes in the company. Whittier Trust Co. of Nevada Inc. boosted its position in Hamilton Lane by 27.7% in the 4th quarter. Whittier Trust Co. of Nevada Inc. now owns 415 shares of the company's stock valued at $61,000 after buying an additional 90 shares during the period. State of Michigan Retirement System grew its stake in Hamilton Lane by 1.0% during the 4th quarter. State of Michigan Retirement System now owns 9,700 shares of the company's stock worth $1,303,000 after purchasing an additional 100 shares in the last quarter. Steward Partners Investment Advisory LLC grew its stake in Hamilton Lane by 12.9% during the 4th quarter. Steward Partners Investment Advisory LLC now owns 899 shares of the company's stock worth $121,000 after purchasing an additional 103 shares in the last quarter. Parallel Advisors LLC increased its holdings in Hamilton Lane by 81.2% during the 4th quarter. Parallel Advisors LLC now owns 241 shares of the company's stock worth $32,000 after purchasing an additional 108 shares during the period. Finally, California State Teachers Retirement System increased its holdings in Hamilton Lane by 0.3% during the 2nd quarter. California State Teachers Retirement System now owns 37,346 shares of the company's stock worth $5,308,000 after purchasing an additional 111 shares during the period. 97.40% of the stock is owned by hedge funds and other institutional investors.

Hamilton Lane Stock Up 6.7%

NASDAQ:HLNE opened at $94.91 on Tuesday. The stock's 50 day moving average price is $82.72 and its 200 day moving average price is $100.08. The company has a market capitalization of $5.27 billion, a PE ratio of 16.06 and a beta of 1.14. Hamilton Lane Inc. has a 52-week low of $71.88 and a 52-week high of $161.13.

Hamilton Lane (NASDAQ:HLNE - Get Free Report) last released its quarterly earnings results on Thursday, May 21st. The company reported $1.49 EPS for the quarter, beating the consensus estimate of $1.43 by $0.06. Hamilton Lane had a net margin of 32.83% and a return on equity of 25.98%. The firm had revenue of $193.57 million during the quarter, compared to the consensus estimate of $203.05 million. During the same quarter in the prior year, the firm earned $1.21 EPS. Hamilton Lane's revenue for the quarter was down 2.2% on a year-over-year basis. As a group, sell-side analysts anticipate that Hamilton Lane Inc. will post 6.45 EPS for the current fiscal year.

Hamilton Lane Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, July 7th. Stockholders of record on Thursday, June 18th were issued a $0.60 dividend. The ex-dividend date of this dividend was Thursday, June 18th. This is an increase from Hamilton Lane's previous quarterly dividend of $0.54. This represents a $2.40 dividend on an annualized basis and a dividend yield of 2.5%. Hamilton Lane's dividend payout ratio is presently 40.61%.

Hamilton Lane announced that its board has approved a stock repurchase plan on Thursday, May 21st that allows the company to repurchase $100.00 million in shares. This repurchase authorization allows the company to repurchase up to 2% of its shares through open market purchases. Shares repurchase plans are generally a sign that the company's board of directors believes its shares are undervalued.

Analysts Set New Price Targets

HLNE has been the subject of several recent research reports. Weiss Ratings cut Hamilton Lane from a "hold (c)" rating to a "hold (c-)" rating in a research note on Monday, July 20th. Keefe, Bruyette & Woods lowered their price objective on Hamilton Lane from $115.00 to $105.00 and set an "outperform" rating for the company in a research report on Friday, July 10th. JPMorgan Chase & Co. cut their target price on shares of Hamilton Lane from $166.00 to $148.00 and set an "overweight" rating on the stock in a research note on Monday, May 18th. Morgan Stanley reduced their target price on shares of Hamilton Lane from $141.00 to $123.00 and set an "equal weight" rating on the stock in a report on Tuesday, July 21st. Finally, Oppenheimer decreased their price target on shares of Hamilton Lane from $176.00 to $174.00 and set an "outperform" rating for the company in a research note on Friday, July 17th. Six investment analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average target price of $131.71.

Insider Buying and Selling at Hamilton Lane

In other news, COO Andrea Anigati Kramer acquired 1,283 shares of the business's 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 transaction, the chief operating officer owned 87,350 shares in the company, valued at $6,766,131. This represents a 1.49% increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Chairman Hartley R. Rogers purchased 55,000 shares of the business's stock in a transaction that occurred on Tuesday, May 26th. The shares were purchased at an average cost of $90.05 per share, with a total value of $4,952,750.00. Following the completion of the acquisition, the chairman directly owned 55,000 shares of the company's stock, valued at $4,952,750. This represents a ∞ increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. Insiders acquired a total of 95,039 shares of company stock worth $8,100,739 over the last three months. 23.99% of the stock is currently owned by corporate insiders.

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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