Hamilton Lane Inc. $HLNE Shares Acquired by Fred Alger Management LLC

Key Points

• Fred Alger Management LLC has increased its stake in Hamilton Lane Inc. by 2.2%, owning a total of 624,844 shares valued at approximately $93.2 million.
• Hamilton Lane reported $1.31 EPS for the last quarter, surpassing analysts' expectations of $0.98, with a revenue growth of 11.8% year-over-year.
• The company announced a quarterly dividend of $0.54 per share, set to be paid on October 6th, reflecting a 1.5% yield on an annualized basis.

Fred Alger Management LLC grew its position in shares of Hamilton Lane Inc. (NASDAQ:HLNE - Free Report) by 2.2% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 624,844 shares of the company's stock after acquiring an additional 13,319 shares during the quarter. Fred Alger Management LLC owned about 1.13% of Hamilton Lane worth $93,202,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. MassMutual Private Wealth & Trust FSB increased its stake in Hamilton Lane by 252.0% during the first quarter. MassMutual Private Wealth & Trust FSB now owns 176 shares of the company's stock worth $26,000 after acquiring an additional 126 shares during the last quarter. WPG Advisers LLC acquired a new stake in Hamilton Lane during the first quarter worth about $26,000. Versant Capital Management Inc acquired a new stake in Hamilton Lane during the first quarter worth about $30,000. Whittier Trust Co. of Nevada Inc. acquired a new stake in Hamilton Lane during the first quarter worth about $33,000. Finally, Covestor Ltd increased its stake in Hamilton Lane by 375.9% during the first quarter. Covestor Ltd now owns 414 shares of the company's stock worth $62,000 after acquiring an additional 327 shares during the last quarter. 97.40% of the stock is currently owned by institutional investors and hedge funds.

Hamilton Lane Stock Down 3.3%

Shares of NASDAQ HLNE traded down $5.01 on Friday, hitting $148.79. The company had a trading volume of 299,411 shares, compared to its average volume of 351,623. Hamilton Lane Inc. has a 12-month low of $124.10 and a 12-month high of $203.72. The business has a 50 day moving average of $152.69 and a two-hundred day moving average of $150.61. 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 firm has a market capitalization of $8.28 billion, a P/E ratio of 28.61 and a beta of 1.26.

Hamilton Lane (NASDAQ:HLNE - Get Free Report) last issued its earnings results on Tuesday, August 5th. The company reported $1.31 earnings per share for the quarter, topping the consensus estimate of $0.98 by $0.33. Hamilton Lane had a return on equity of 29.47% and a net margin of 30.66%.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 business earned $1.47 earnings per share. The company's revenue was up 11.8% compared to the same quarter last year. As a group, equities research analysts forecast that Hamilton Lane Inc. will post 4.97 earnings per share for the current fiscal year.

Hamilton Lane Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, October 6th. Investors of record on Friday, September 19th will be paid a $0.54 dividend. The ex-dividend date is Friday, September 19th. This represents a $2.16 annualized dividend and a dividend yield of 1.5%. Hamilton Lane's payout ratio is 41.54%.

Insider Activity at Hamilton Lane

In related news, major shareholder River 5 Ltd French sold 150,000 shares of the business's stock in a transaction dated Thursday, September 4th. The stock was sold at an average price of $146.51, for a total value of $21,976,500.00. Following the transaction, the insider owned 330,015 shares in the company, valued at approximately $48,350,497.65. The trade was a 31.25% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Company insiders own 22.21% of the company's stock.

Analyst Ratings Changes

Several brokerages have commented on HLNE. Wall Street Zen upgraded Hamilton Lane from a "sell" rating to a "hold" rating in a research note on Saturday, August 9th. Keefe, Bruyette & Woods upped their price target on Hamilton Lane from $160.00 to $168.00 and gave the stock a "market perform" rating in a research note on Wednesday, August 6th. JPMorgan Chase & Co. dropped their price target on Hamilton Lane from $153.00 to $145.00 and set a "neutral" rating for the company in a research note on Wednesday, July 23rd. Finally, Wells Fargo & Company upped their target price on Hamilton Lane from $161.00 to $162.00 and gave the stock an "equal weight" rating in a research report on Friday, July 11th. Six research analysts have rated the stock with a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of "Reduce" and an average target price of $163.14.

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.