Janney Montgomery Scott LLC Increases Stock Position in Hamilton Lane Inc. $HLNE

Key Points

• Janney Montgomery Scott LLC boosted its Hamilton Lane stake by 65.1% in the first quarter, buying 14,678 additional shares and bringing its total to 37,238 shares worth about $3.7 million.
• Hamilton Lane insiders have also been buying stock, including COO Andrea Anigati Kramer and Chairman Hartley R. Rogers, with 95,039 shares purchased valued at about $8.1 million over the last 90 days.
• The company recently raised its quarterly dividend to $0.60 per share and authorized a $100 million share buyback, while analysts currently rate the stock a Moderate Buy with an average target price of $147.12.

Janney Montgomery Scott LLC grew its holdings in Hamilton Lane Inc. (NASDAQ:HLNE - Free Report) by 65.1% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 37,238 shares of the company's stock after purchasing an additional 14,678 shares during the quarter. Janney Montgomery Scott LLC owned approximately 0.07% of Hamilton Lane worth $3,701,000 at the end of the most recent quarter.

A number of other hedge funds have also modified their holdings of HLNE. Pictet Asset Management Holding SA grew its holdings in Hamilton Lane by 5.9% during the 1st quarter. Pictet Asset Management Holding SA now owns 6,557 shares of the company's stock valued at $652,000 after buying an additional 366 shares during the last quarter. Wasatch Advisors LP raised its holdings in shares of Hamilton Lane by 15.8% in the first quarter. Wasatch Advisors LP now owns 1,751,596 shares of the company's stock worth $174,109,000 after acquiring an additional 239,397 shares during the last quarter. Louisiana State Employees Retirement System purchased a new stake in shares of Hamilton Lane in the first quarter valued at $1,173,000. Blue Trust Inc. purchased a new stake in shares of Hamilton Lane in the first quarter valued at $75,000. Finally, Diversified Trust Co boosted its stake in shares of Hamilton Lane by 22.4% during the first quarter. Diversified Trust Co now owns 16,830 shares of the company's stock valued at $1,673,000 after acquiring an additional 3,076 shares during the last quarter. 97.40% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Hamilton Lane

In related news, COO Andrea Anigati Kramer purchased 1,283 shares of the firm's stock in a transaction on Thursday, June 11th. The shares were bought at an average price of $77.46 per share, for a total transaction of $99,381.18. Following the acquisition, the chief operating officer directly owned 87,350 shares in the company, valued at $6,766,131. This trade represents a 1.49% increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which is available at this link. Also, Chairman Hartley R. Rogers acquired 55,000 shares of the stock in a transaction dated Tuesday, May 26th. The shares were bought at an average cost of $90.05 per share, with a total value of $4,952,750.00. Following the completion of the purchase, the chairman directly owned 55,000 shares in the company, valued at approximately $4,952,750. This trade represents a ∞ increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. Insiders have purchased 95,039 shares of company stock valued at $8,100,739 in the last ninety days. 22.21% of the stock is currently owned by company insiders.

Hamilton Lane Price Performance

NASDAQ:HLNE traded down $1.41 during mid-day trading on Tuesday, reaching $81.05. The company's stock had a trading volume of 26,007 shares, compared to its average volume of 842,450. The company's fifty day simple moving average is $84.32 and its two-hundred day simple moving average is $107.86. Hamilton Lane Inc. has a twelve month low of $71.88 and a twelve month high of $161.13. The stock has a market cap of $4.50 billion, a P/E ratio of 13.76 and a beta of 1.16.

Hamilton Lane (NASDAQ:HLNE - Get Free Report) last posted its quarterly earnings results on Thursday, May 21st. The company reported $1.49 EPS for the quarter, beating the consensus estimate of $1.43 by $0.06. The company had revenue of $193.57 million during 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 firm's revenue was down 2.2% on a year-over-year basis. During the same quarter in the previous year, the business earned $1.21 EPS. Sell-side analysts expect that Hamilton Lane Inc. will post 6.33 EPS for the current fiscal year.

Hamilton Lane declared that its Board of Directors has authorized a share buyback plan on Thursday, May 21st that permits the company to repurchase $100.00 million in outstanding shares. This repurchase authorization permits the company to reacquire up to 2% of its stock through open market purchases. Stock repurchase plans are typically a sign that the company's management believes its shares are undervalued.

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 $0.60 dividend. The ex-dividend date is Thursday, June 18th. This is a positive change from Hamilton Lane's previous quarterly dividend of $0.54. This represents a $2.40 dividend on an annualized basis and a yield of 3.0%. Hamilton Lane's payout ratio is presently 40.61%.

Wall Street Analyst Weigh In

A number of analysts recently commented on the company. Oppenheimer dropped their price objective on Hamilton Lane from $179.00 to $176.00 and set an "outperform" rating for the company in a research report on Thursday, June 18th. Weiss Ratings reaffirmed a "hold (c)" rating on shares of Hamilton Lane in a research note on Wednesday, June 3rd. Morgan Stanley decreased their price target on shares of Hamilton Lane from $159.00 to $141.00 and set an "equal weight" rating on the stock in a research note on Tuesday, April 21st. Zacks Research downgraded shares of Hamilton Lane from a "strong-buy" rating to a "hold" rating in a report on Monday, April 6th. Finally, BMO Capital Markets cut their price objective on shares of Hamilton Lane from $108.00 to $102.00 and set an "outperform" rating for the company in a research report on Friday, May 22nd. Six investment analysts have rated the stock with a Buy rating and four have given a Hold rating to the stock. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and an average target price of $147.12.

About Hamilton Lane

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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