Bank of America Corp DE Sells 13,014 Shares of Hamilton Lane Inc. $HLNE

Key Points

• Bank of America reduced its Hamilton Lane stake by 3.4%, selling 13,014 shares and retaining 367,821 shares valued at approximately $36.6 million. Institutional investors collectively own 97.4% of the company.
• Hamilton Lane reported strong quarterly results, with EPS of $1.94 versus $1.53 expected and revenue of $275.3 million, up 56.5% year over year. The company also authorized a $100 million share buyback and announced a quarterly dividend of $0.60 per share.
• Analysts maintain a generally positive outlook, with a consensus “Moderate Buy” rating and an average price target of $131.71 versus the stock’s reported price of $104.24. Company insiders have also purchased approximately 95,039 shares over the past 90 days.

Bank of America Corp DE lowered its stake in Hamilton Lane Inc. (NASDAQ:HLNE - Free Report) by 3.4% during the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 367,821 shares of the company's stock after selling 13,014 shares during the period. Bank of America Corp DE owned 0.66% of Hamilton Lane worth $36,561,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds also recently bought and sold shares of HLNE. Quarry LP grew its holdings in shares of Hamilton Lane by 2,557.1% in the third quarter. Quarry LP now owns 186 shares of the company's stock worth $25,000 after acquiring an additional 179 shares during the period. Advisory Services Network LLC purchased a new position in Hamilton Lane during the third quarter valued at $26,000. Parallel Advisors LLC grew its stake in shares of Hamilton Lane by 81.2% during the 4th quarter. Parallel Advisors LLC now owns 241 shares of the company's stock valued at $32,000 after acquiring an additional 108 shares during the period. Geneos Wealth Management Inc. boosted its stake in shares of Hamilton Lane by 196.9% in the first quarter. Geneos Wealth Management Inc. now owns 383 shares of the company's stock worth $57,000 after acquiring an additional 254 shares during the period. Finally, Whittier Trust Co. of Nevada Inc. boosted its holdings in shares of Hamilton Lane by 27.7% during the 4th quarter. Whittier Trust Co. of Nevada Inc. now owns 415 shares of the company's stock valued at $61,000 after purchasing an additional 90 shares during the last quarter. Institutional investors own 97.40% of the company's stock.

Hamilton Lane Price Performance

Hamilton Lane stock opened at $104.24 on Friday. The stock has a market cap of $5.79 billion, a price-to-earnings ratio of 15.89 and a beta of 1.14. The company has a debt-to-equity ratio of 0.16, a current ratio of 3.49 and a quick ratio of 3.49. Hamilton Lane Inc. has a 1 year low of $71.88 and a 1 year high of $159.47. The firm has a 50-day moving average of $85.73 and a two-hundred day moving average of $97.36.

Hamilton Lane (NASDAQ:HLNE - Get Free Report) last issued its earnings results on Tuesday, August 4th. The company reported $1.94 earnings per share for the quarter, beating analysts' consensus estimates of $1.53 by $0.41. Hamilton Lane had a return on equity of 25.10% and a net margin of 32.14%.The business had revenue of $275.33 million during the quarter, compared to analyst estimates of $221.94 million. During the same period in the previous year, the company posted $1.47 EPS. Hamilton Lane's revenue was up 56.5% on a year-over-year basis. On average, research analysts forecast that Hamilton Lane Inc. will post 6.95 earnings per share for the current year.

Hamilton Lane announced that its board has authorized a stock buyback plan on Thursday, May 21st that permits the company to buyback $100.00 million in outstanding shares. This buyback authorization permits the company to reacquire up to 2% of its stock through open market purchases. Stock buyback plans are generally an indication that the company's board believes its shares are undervalued.

Hamilton Lane Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, October 6th. Shareholders of record on Monday, September 21st will be issued a dividend of $0.60 per share. The ex-dividend date is Monday, September 21st. This represents a $2.40 dividend on an annualized basis and a yield of 2.3%. Hamilton Lane's dividend payout ratio is currently 36.59%.

Insiders Place Their Bets

In related news, Chairman Hartley R. Rogers bought 38,290 shares of the company's stock in a transaction on Thursday, June 11th. The shares were acquired at an average price of $78.49 per share, with a total value of $3,005,382.10. Following the transaction, the chairman owned 93,756 shares of the company's stock, valued at $7,358,908.44. The trade was a 69.03% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, COO Andrea Anigati Kramer purchased 1,283 shares of the business's stock in a transaction dated 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 completion of the acquisition, the chief operating officer directly owned 87,350 shares in the company, valued at approximately $6,766,131. This trade represents a 1.49% increase in their position. The SEC filing for this purchase provides additional information. In the last 90 days, insiders have acquired 95,039 shares of company stock valued at $8,100,739. 23.99% of the stock is owned by company insiders.

Analysts Set New Price Targets

HLNE has been the subject of several analyst reports. Weiss Ratings lowered Hamilton Lane from a "hold (c)" rating to a "hold (c-)" rating in a research note on Monday, July 20th. Keefe, Bruyette & Woods boosted their target price on Hamilton Lane from $105.00 to $116.00 and gave the company an "outperform" rating in a research report on Wednesday, August 5th. JPMorgan Chase & Co. decreased their price target on Hamilton Lane from $166.00 to $148.00 and set an "overweight" rating on the stock in a report on Monday, May 18th. Morgan Stanley lowered their price target on Hamilton Lane from $141.00 to $123.00 and set an "equal weight" rating for the company in a research report on Tuesday, July 21st. Finally, Zacks Research raised shares of Hamilton Lane from a "hold" rating to a "strong-buy" rating in a research note on Friday, August 7th. One equities research analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating and two have assigned a Hold rating to the company's stock. According to data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average price target of $131.71.

Hamilton Lane Company 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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