Hamilton Lane Inc. $HLNE Shares Acquired by Wasatch Advisors LP

Key Points

• Wasatch Advisors LP increased its stake in Hamilton Lane by 15.8% in the first quarter, buying 239,397 additional shares and bringing its total holding to 1,751,596 shares worth about $174.1 million.
• Several other institutions also adjusted positions in the company, and 97.4% of Hamilton Lane’s stock is owned by hedge funds and other institutional investors.
• Hamilton Lane reported quarterly EPS of $1.49, beating estimates, and it boosted its dividend to $0.60 per share while also authorizing a $100 million share buyback.

Wasatch Advisors LP lifted its stake in shares of Hamilton Lane Inc. (NASDAQ:HLNE - Free Report) by 15.8% during the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 1,751,596 shares of the company's stock after purchasing an additional 239,397 shares during the period. Wasatch Advisors LP owned approximately 3.14% of Hamilton Lane worth $174,109,000 at the end of the most recent quarter.

Other hedge funds have also modified their holdings of the company. Royal Bank of Canada increased its stake in Hamilton Lane by 6.0% in the 1st quarter. Royal Bank of Canada now owns 52,466 shares of the company's stock worth $7,800,000 after purchasing an additional 2,948 shares in the last quarter. Jones Financial Companies Lllp raised its holdings in Hamilton Lane by 4,806.7% during the 1st quarter. Jones Financial Companies Lllp now owns 5,103 shares of the company's stock worth $759,000 after buying an additional 4,999 shares during the period. Geneos Wealth Management Inc. raised its holdings in Hamilton Lane by 196.9% during the 1st quarter. Geneos Wealth Management Inc. now owns 383 shares of the company's stock worth $57,000 after buying an additional 254 shares during the period. First Trust Advisors LP lifted its stake in Hamilton Lane by 26.7% during the second quarter. First Trust Advisors LP now owns 31,483 shares of the company's stock valued at $4,474,000 after buying an additional 6,636 shares in the last quarter. Finally, Amundi lifted its stake in Hamilton Lane by 39,766.7% during the second quarter. Amundi now owns 2,392 shares of the company's stock valued at $347,000 after buying an additional 2,386 shares in the last quarter. 97.40% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several research analysts have commented on the stock. The Goldman Sachs Group set a $148.00 target price on shares of Hamilton Lane and gave the stock a "buy" rating in a report on Friday, May 22nd. Keefe, Bruyette & Woods restated an "outperform" rating on shares of Hamilton Lane in a research report on Friday, May 22nd. JPMorgan Chase & Co. reduced their price target on shares of Hamilton Lane from $166.00 to $148.00 and set an "overweight" rating for the company in a research report on Monday, May 18th. Weiss Ratings reaffirmed a "hold (c)" rating on shares of Hamilton Lane in a research note on Wednesday, June 3rd. Finally, Zacks Research cut shares of Hamilton Lane from a "strong-buy" rating to a "hold" rating in a research report on Monday, April 6th. Six analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average price target of $149.62.

Insider Activity at Hamilton Lane

In related news, Chairman Hartley R. Rogers bought 55,000 shares of the firm's stock in a transaction on Tuesday, May 26th. The stock was bought at an average price of $90.05 per share, with a total value of $4,952,750.00. Following the purchase, the chairman directly owned 55,000 shares of the company's stock, valued at approximately $4,952,750. This represents a ∞ increase in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, COO Andrea Anigati Kramer bought 1,283 shares of the firm's stock in a transaction on Thursday, June 11th. The shares were bought 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 in the company, valued at approximately $6,766,131. This trade represents a 1.49% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. In the last quarter, insiders acquired 95,039 shares of company stock worth $8,100,739. Company insiders own 22.21% of the company's stock.

Hamilton Lane Trading Up 2.0%

Shares of NASDAQ HLNE opened at $77.77 on Friday. Hamilton Lane Inc. has a one year low of $71.88 and a one year high of $161.13. The firm has a market capitalization of $4.32 billion, a PE ratio of 13.16 and a beta of 1.14. The business has a 50-day moving average price of $87.49 and a two-hundred day moving average price of $110.17.

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 company had revenue of $193.57 million for the quarter, compared to analysts' expectations of $203.05 million. Hamilton Lane had a return on equity of 25.98% and a net margin of 32.83%.The business's revenue for the quarter was down 2.2% on a year-over-year basis. During the same quarter in the previous year, the business posted $1.21 EPS. Research analysts anticipate that Hamilton Lane Inc. will post 6.33 EPS for the current year.

Hamilton Lane Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 7th. Investors of record on Thursday, June 18th will be given a dividend of $0.60 per share. The ex-dividend date of this dividend is Thursday, June 18th. This is a boost from Hamilton Lane's previous quarterly dividend of $0.54. This represents a $2.40 dividend on an annualized basis and a yield of 3.1%. Hamilton Lane's payout ratio is presently 40.61%.

Hamilton Lane announced that its Board of Directors has initiated a stock buyback program on Thursday, May 21st that permits the company to buyback $100.00 million in shares. This buyback authorization permits the company to purchase up to 2% of its stock through open market purchases. Stock buyback programs are usually an indication that the company's management believes its shares are undervalued.

Hamilton Lane 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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