Hamilton Lane Inc. $HLNE Shares Sold by Harbor Capital Advisors Inc.

Key Points

• Harbor Capital Advisors Inc. reduced its stake in Hamilton Lane Inc. by 28.7%, selling 4,748 shares, leaving them with 11,794 shares valued at $1.68 million.
• Hamilton Lane recently declared a quarterly dividend of $0.54 per share, with an ex-dividend date of September 19th, representing an annualized yield of 1.4%.
• Major shareholder River 5 Ltd French sold 150,000 shares at an average price of $146.51, reducing their ownership by 31.25% in the company.

Harbor Capital Advisors Inc. lessened its stake in shares of Hamilton Lane Inc. (NASDAQ:HLNE - Free Report) by 28.7% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 11,794 shares of the company's stock after selling 4,748 shares during the quarter. Harbor Capital Advisors Inc.'s holdings in Hamilton Lane were worth $1,676,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently modified their holdings of HLNE. Kayne Anderson Rudnick Investment Management LLC acquired a new position in shares of Hamilton Lane during the first quarter worth about $432,772,000. Champlain Investment Partners LLC purchased a new stake in shares of Hamilton Lane during the first quarter worth about $112,887,000. T. Rowe Price Investment Management Inc. increased its position in shares of Hamilton Lane by 63.4% during the first quarter. T. Rowe Price Investment Management Inc. now owns 1,275,000 shares of the company's stock worth $189,555,000 after acquiring an additional 494,637 shares during the last quarter. Nuveen LLC purchased a new stake in shares of Hamilton Lane during the first quarter worth about $24,334,000. Finally, GAMMA Investing LLC increased its position in shares of Hamilton Lane by 24,544.3% during the first quarter. GAMMA Investing LLC now owns 136,776 shares of the company's stock worth $203,340,000 after acquiring an additional 136,221 shares during the last quarter. Institutional investors and hedge funds own 97.40% of the company's stock.

Insider Transactions at Hamilton Lane

In related news, major shareholder River 5 Ltd French sold 150,000 shares of the stock in a transaction that occurred on 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 completion of the transaction, the insider directly owned 330,015 shares of the company's stock, valued at $48,350,497.65. This represents a 31.25% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. 22.21% of the stock is owned by company insiders.

Analysts Set New Price Targets

HLNE has been the topic of a number of analyst reports. JPMorgan Chase & Co. dropped their target price on Hamilton Lane from $153.00 to $145.00 and set a "neutral" rating on the stock in a research report on Wednesday, July 23rd. Wall Street Zen raised Hamilton Lane from a "sell" rating to a "hold" rating in a report on Saturday, August 9th. Keefe, Bruyette & Woods boosted 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. The Goldman Sachs Group raised Hamilton Lane from a "sell" rating to a "neutral" rating and boosted their price objective for the company from $149.00 to $162.00 in a report on Thursday. Finally, Wells Fargo & Company boosted their price objective on Hamilton Lane from $161.00 to $162.00 and gave the company an "equal weight" rating in a report on Friday, July 11th. Seven investment analysts have rated the stock with a Hold rating, Based on data from MarketBeat.com, Hamilton Lane has a consensus rating of "Hold" and a consensus target price of $166.43.

Hamilton Lane Stock Performance

Shares of NASDAQ:HLNE traded down $0.63 during trading on Friday, hitting $150.36. 1,090,538 shares of the company traded hands, compared to its average volume of 327,793. The stock has a market capitalization of $8.37 billion, a price-to-earnings ratio of 28.92 and a beta of 1.26. The business's fifty day moving average is $152.58 and its 200-day moving average is $150.50. Hamilton Lane Inc. has a one year low of $124.10 and a one year high of $203.72. The company has a quick ratio of 4.32, a current ratio of 4.32 and a debt-to-equity ratio of 0.29.

Hamilton Lane (NASDAQ:HLNE - Get Free Report) last posted its earnings results on Tuesday, August 5th. The company reported $1.31 EPS for the quarter, beating 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 analyst estimates of $166.96 million. During the same period in the prior year, the company earned $1.47 earnings per share. The business's revenue was up 11.8% compared to the same quarter last year. As a group, equities analysts predict that Hamilton Lane Inc. will post 4.97 earnings per share for the current fiscal year.

Hamilton Lane Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, October 6th. Investors of record on Friday, September 19th will be issued a $0.54 dividend. This represents a $2.16 dividend on an annualized basis and a yield of 1.4%. The ex-dividend date of this dividend is Friday, September 19th. Hamilton Lane's dividend payout ratio is 41.54%.

Hamilton Lane Company Profile

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.