Engineers Gate Manager LP Buys Shares of 13,640 Hamilton Lane Inc. $HLNE

Key Points

• Engineers Gate Manager LP acquired 13,640 Hamilton Lane shares worth approximately $1.075 million in the second quarter, while institutional investors collectively own 97.4% of the stock.
• Analysts maintain a generally positive outlook, with a consensus “Moderate Buy” rating and an average price target of $131.57, despite several firms recently lowering their targets.
• Hamilton Lane exceeded quarterly expectations, reporting $1.94 in EPS and $275.33 million in revenue, up 56.5% year over year. The company also declared a quarterly dividend of $0.60 per share, representing a 2.7% annualized yield.

Engineers Gate Manager LP purchased a new stake in Hamilton Lane Inc. (NASDAQ:HLNE - Free Report) during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor purchased 13,640 shares of the company's stock, valued at approximately $1,075,000.

Several other hedge funds and other institutional investors have also made changes to their positions in HLNE. IFP Advisors Inc increased its stake in Hamilton Lane by 332.0% in the second quarter. IFP Advisors Inc now owns 419 shares of the company's stock valued at $33,000 after purchasing an additional 322 shares in the last quarter. Squarepoint Ops LLC acquired a new position in shares of Hamilton Lane in the 2nd quarter valued at $24,063,000. Baird Financial Group Inc. acquired a new position in shares of Hamilton Lane in the 2nd quarter valued at $434,000. Allworth Financial LP increased its position in shares of Hamilton Lane by 592.9% in the 2nd quarter. Allworth Financial LP now owns 1,171 shares of the company's stock valued at $92,000 after buying an additional 1,002 shares in the last quarter. Finally, VIRGINIA RETIREMENT SYSTEMS ET Al bought a new stake in shares of Hamilton Lane in the 2nd quarter valued at $1,269,000. 97.40% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on the company. Morgan Stanley reduced their target price on Hamilton Lane from $141.00 to $123.00 and set an "equal weight" rating on the stock in a report on Tuesday, July 21st. Oppenheimer dropped their price target on Hamilton Lane from $182.00 to $181.00 and set an "outperform" rating on the stock in a research report on Thursday, August 27th. Zacks Research raised Hamilton Lane from a "hold" rating to a "strong-buy" rating in a research report on Friday, August 7th. The Goldman Sachs Group cut their price objective on Hamilton Lane from $148.00 to $128.00 and set a "buy" rating on the stock in a report on Tuesday, June 30th. Finally, UBS Group boosted their price objective on Hamilton Lane from $114.00 to $131.00 and gave the company a "buy" rating in a research report on Wednesday, August 5th. One research analyst has rated the stock with a Strong Buy rating, six have given a Buy rating and two have given a Hold rating to the company's stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average target price of $131.57.

Hamilton Lane Trading Down 0.6%

Hamilton Lane stock opened at $87.74 on Friday. The stock has a 50-day simple moving average of $96.28 and a 200 day simple moving average of $92.88. The stock has a market capitalization of $4.87 billion, a P/E ratio of 13.38 and a beta of 1.19. The company has a debt-to-equity ratio of 0.16, a quick ratio of 3.49 and a current ratio of 3.49. Hamilton Lane Inc. has a 52 week low of $71.88 and a 52 week high of $155.66.

Hamilton Lane (NASDAQ:HLNE - Get Free Report) last released its quarterly earnings data on Tuesday, August 4th. The company reported $1.94 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.53 by $0.41. The company had revenue of $275.33 million during the quarter, compared to analysts' expectations of $221.94 million. Hamilton Lane had a return on equity of 25.10% and a net margin of 32.14%.The business's revenue was up 56.5% on a year-over-year basis. During the same period last year, the firm posted $1.47 earnings per share. Analysts expect that Hamilton Lane Inc. will post 7.25 earnings per share for the current year.

Hamilton Lane Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 6th. Shareholders of record on Monday, September 21st will be given a dividend of $0.60 per share. This represents a $2.40 dividend on an annualized basis and a yield of 2.7%. The ex-dividend date of this dividend is Monday, September 21st. Hamilton Lane's payout ratio is 36.59%.

About Hamilton Lane

Hamilton Lane Incorporated is a global investment management firm focused on private markets. The company provides investment solutions and advisory services across private equity, private credit, venture capital, infrastructure, real estate and other alternative investment strategies.

Its offerings include customized separate accounts, commingled funds, specialized funds and direct investment programs. Hamilton Lane also provides portfolio management, investment monitoring, due diligence, asset allocation and related advisory services to institutional investors, financial intermediaries and private wealth clients.

Founded in 1991, Hamilton Lane serves clients internationally through operations spanning North America, Europe, Asia-Pacific and the Middle East.

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