Hamilton Lane Inc. $HLNE Shares Purchased by Comerica Bank

Key Points

• Comerica Bank increased its ownership of Hamilton Lane Inc. by 26.6%, acquiring an additional 4,350 shares valued at approximately $3.08 million.
• Several institutional investors, including MassMutual Private Wealth and Covestor Ltd, significantly raised their positions in Hamilton Lane during the first quarter.
• Hamilton Lane reported an EPS of $1.31 for the last quarter, surpassing analysts' estimates, with revenues up 11.8% year-over-year.

Comerica Bank lifted its stake in Hamilton Lane Inc. (NASDAQ:HLNE - Free Report) by 26.6% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 20,722 shares of the company's stock after purchasing an additional 4,350 shares during the period. Comerica Bank's holdings in Hamilton Lane were worth $3,081,000 at the end of the most recent quarter.

Other large investors also recently bought and sold shares of the company. Kayne Anderson Rudnick Investment Management LLC purchased a new stake in shares of Hamilton Lane during the first quarter worth approximately $432,772,000. Wellington Management Group LLP lifted its stake in Hamilton Lane by 5.5% in the first quarter. Wellington Management Group LLP now owns 1,701,963 shares of the company's stock worth $253,031,000 after acquiring an additional 88,100 shares during the last quarter. Price T Rowe Associates Inc. MD grew its holdings in Hamilton Lane by 5.9% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 1,368,373 shares of the company's stock worth $203,437,000 after acquiring an additional 76,107 shares in the last quarter. T. Rowe Price Investment Management Inc. increased its position in shares of Hamilton Lane by 63.4% in the 1st quarter. T. Rowe Price Investment Management Inc. now owns 1,275,000 shares of the company's stock valued at $189,555,000 after purchasing an additional 494,637 shares during the last quarter. Finally, Van Berkom & Associates Inc. raised its holdings in shares of Hamilton Lane by 7.4% in the 1st quarter. Van Berkom & Associates Inc. now owns 659,220 shares of the company's stock valued at $98,006,000 after purchasing an additional 45,605 shares in the last quarter. Hedge funds and other institutional investors own 97.40% of the company's stock.

Wall Street Analysts Forecast Growth

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

Hamilton Lane Stock Performance

HLNE traded down $1.42 on Friday, hitting $145.62. 58,877 shares of the company traded hands, compared to its average volume of 551,568. Hamilton Lane Inc. has a 12-month low of $124.10 and a 12-month high of $203.72. The company has a 50 day moving average of $152.19 and a 200-day moving average of $150.91. The company has a quick ratio of 4.32, a current ratio of 4.32 and a debt-to-equity ratio of 0.29. The stock has a market capitalization of $8.11 billion, a PE ratio of 27.98 and a beta of 1.26.

Hamilton Lane (NASDAQ:HLNE - Get Free Report) last announced its quarterly earnings data on Tuesday, August 5th. The company reported $1.31 EPS for the quarter, topping analysts' consensus estimates of $0.98 by $0.33. Hamilton Lane had a net margin of 30.66% and a return on equity of 29.47%. The company 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 firm earned $1.47 EPS. Hamilton Lane's quarterly revenue was up 11.8% on a year-over-year basis. Sell-side analysts anticipate that Hamilton Lane Inc. will post 4.97 earnings per share for the current year.

Hamilton Lane Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, October 6th. Shareholders 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 yield of 1.5%. Hamilton Lane's dividend payout ratio is 41.54%.

About Hamilton Lane

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.