Fred Alger Management LLC Buys 59,976 Shares of Hamilton Lane Inc. $HLNE

Key Points

• Fred Alger Management LLC increased its stake in Hamilton Lane by 29.8% in the fourth quarter, buying 59,976 additional shares and bringing its total holding to 261,525 shares worth about $35.2 million.
• Hamilton Lane reported better-than-expected quarterly earnings of $1.49 per share, though revenue came in below estimates at $193.57 million and was down 2.2% year over year.
• The company raised its quarterly dividend to $0.60 per share and also approved a $100 million share buyback, while analysts currently rate the stock a Moderate Buy with a consensus price target of $150.

Fred Alger Management LLC raised its holdings in shares of Hamilton Lane Inc. (NASDAQ:HLNE - Free Report) by 29.8% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 261,525 shares of the company's stock after purchasing an additional 59,976 shares during the quarter. Fred Alger Management LLC owned approximately 0.47% of Hamilton Lane worth $35,245,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also added to or reduced their stakes in the business. &PARTNERS lifted its holdings in shares of Hamilton Lane by 6.8% in the fourth quarter. &PARTNERS now owns 20,572 shares of the company's stock worth $2,763,000 after buying an additional 1,310 shares in the last quarter. ExodusPoint Capital Management LP lifted its holdings in shares of Hamilton Lane by 394.8% in the fourth quarter. ExodusPoint Capital Management LP now owns 48,584 shares of the company's stock worth $6,525,000 after buying an additional 38,766 shares in the last quarter. Squarepoint Ops LLC lifted its holdings in shares of Hamilton Lane by 129.5% in the fourth quarter. Squarepoint Ops LLC now owns 123,001 shares of the company's stock worth $16,520,000 after buying an additional 69,410 shares in the last quarter. Vanguard Personalized Indexing Management LLC lifted its holdings in shares of Hamilton Lane by 22.3% in the fourth quarter. Vanguard Personalized Indexing Management LLC now owns 3,089 shares of the company's stock worth $415,000 after buying an additional 563 shares in the last quarter. Finally, MML Investors Services LLC lifted its holdings in shares of Hamilton Lane by 9.6% in the fourth quarter. MML Investors Services LLC now owns 5,497 shares of the company's stock worth $738,000 after buying an additional 480 shares in the last quarter. 97.40% of the stock is owned by hedge funds and other institutional investors.

Hamilton Lane Price Performance

Shares of HLNE opened at $87.22 on Wednesday. The stock has a market capitalization of $4.84 billion, a price-to-earnings ratio of 14.76 and a beta of 1.15. Hamilton Lane Inc. has a 1 year low of $75.93 and a 1 year high of $161.13. The business's 50 day simple moving average is $90.55 and its 200-day simple moving average is $112.58.

Hamilton Lane (NASDAQ:HLNE - Get Free Report) last released its earnings results on Thursday, May 21st. The company reported $1.49 earnings per share for the quarter, beating the consensus estimate of $1.43 by $0.06. The firm had revenue of $193.57 million for the quarter, compared to the consensus estimate of $203.05 million. Hamilton Lane had a return on equity of 25.98% and a net margin of 32.83%.The company's revenue for the quarter was down 2.2% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.21 EPS. On average, sell-side analysts expect that Hamilton Lane Inc. will post 6.33 earnings per share for the current year.

Hamilton Lane Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, July 7th. Investors of record on Thursday, June 18th will be issued a dividend of $0.60 per share. This represents a $2.40 annualized dividend and a yield of 2.8%. This is a positive change from Hamilton Lane's previous quarterly dividend of $0.54. The ex-dividend date of this dividend is Thursday, June 18th. Hamilton Lane's dividend payout ratio is 40.61%.

Hamilton Lane announced that its board has approved a stock buyback plan on Thursday, May 21st that authorizes the company to buyback $100.00 million in shares. This buyback authorization authorizes the company to purchase up to 2% of its shares through open market purchases. Shares buyback plans are often an indication that the company's leadership believes its shares are undervalued.

Analysts Set New Price Targets

A number of equities research analysts have recently issued reports on the stock. BMO Capital Markets lowered their price target on shares of Hamilton Lane from $108.00 to $102.00 and set an "outperform" rating on the stock in a report on Friday, May 22nd. Keefe, Bruyette & Woods reaffirmed an "outperform" rating on shares of Hamilton Lane in a research note on Friday, May 22nd. UBS Group lowered their target price on shares of Hamilton Lane from $184.00 to $150.00 and set a "buy" rating on the stock in a research note on Friday, February 20th. Weiss Ratings reiterated a "hold (c)" rating on shares of Hamilton Lane in a research report on Wednesday, June 3rd. Finally, Oppenheimer increased their price target on shares of Hamilton Lane from $171.00 to $179.00 and gave the company an "outperform" rating in a research report on Friday, May 22nd. Six equities research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company. According to data from MarketBeat, the company has an average rating of "Moderate Buy" and a consensus target price of $150.00.

Insider Activity at Hamilton Lane

In related news, COO Andrea Anigati Kramer bought 1,283 shares of the stock in a transaction that occurred on Thursday, June 11th. The stock was purchased 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 of the company's stock, valued at $6,766,131. This trade represents a 1.49% increase in their position. The purchase was disclosed in a document filed with the SEC, which can be accessed through this link. Also, Chairman Hartley R. Rogers bought 38,290 shares of the stock in a transaction that occurred on Thursday, June 11th. The shares were bought at an average cost of $78.49 per share, with a total value of $3,005,382.10. Following the completion of the purchase, the chairman directly owned 93,756 shares in the company, valued at $7,358,908.44. This represents a 69.03% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. Over the last three months, insiders acquired 95,039 shares of company stock worth $8,100,739. 22.21% of the stock is owned by corporate insiders.

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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