Kornitzer Capital Management Inc. KS Buys 15,671 Shares of Hamilton Lane Inc. $HLNE

Key Points

• Kornitzer Capital Management increased its Hamilton Lane stake by 34.2% in the third quarter, buying 15,671 shares to own 61,439 shares valued at about $5.34 million.
• Analysts’ consensus rating is “Moderate Buy”, with an average price target of $126.12; seven analysts rate the stock Buy and three rate it Hold.
• Hamilton Lane reported quarterly EPS of $1.98, beating the $1.65 consensus, while revenue of $204.43 million missed estimates. The company also declared a $0.60 quarterly dividend per share.

Kornitzer Capital Management Inc. KS boosted its position in Hamilton Lane Inc. (NASDAQ:HLNE - Free Report) by 34.2% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 61,439 shares of the company's stock after purchasing an additional 15,671 shares during the period. Kornitzer Capital Management Inc. KS owned approximately 0.11% of Hamilton Lane worth $5,337,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors also recently bought and sold shares of the business. Fort Washington Investment Advisors Inc. OH bought a new position in shares of Hamilton Lane during the third quarter valued at approximately $27,027,000. The Manufacturers Life Insurance Company increased its holdings in shares of Hamilton Lane by 1,039.7% during the first quarter. The Manufacturers Life Insurance Company now owns 335,903 shares of the company's stock valued at $33,389,000 after acquiring an additional 306,429 shares in the last quarter. Squarepoint Ops LLC acquired a new position in shares of Hamilton Lane during the second quarter valued at about $24,063,000. Copeland Capital Management LLC raised its holdings in shares of Hamilton Lane by 52.5% in the third quarter. Copeland Capital Management LLC now owns 741,678 shares of the company's stock worth $64,422,000 after buying an additional 255,238 shares during the last quarter. Finally, Sei Investments Co. raised its stake in Hamilton Lane by 37.4% in the 1st quarter. Sei Investments Co. now owns 406,425 shares of the company's stock worth $40,399,000 after acquiring an additional 110,617 shares during the last quarter. Hedge funds and other institutional investors own 97.40% of the company's stock.

Analyst Ratings Changes

Several equities analysts recently weighed in on HLNE shares. Weiss Ratings upgraded shares of Hamilton Lane from a "hold (c-)" rating to a "hold (c)" rating in a report on Monday, August 31st. UBS Group boosted their target price on shares of Hamilton Lane from $115.00 to $120.00 and gave the company a "buy" rating in a research report on Thursday. Keefe, Bruyette & Woods boosted their price target on Hamilton Lane from $116.00 to $120.00 and gave the company an "outperform" rating in a report on Wednesday, November 4th. BMO Capital Markets cut their price objective on shares of Hamilton Lane from $116.00 to $95.00 and set an "outperform" rating for the company in a report on Tuesday, October 27th. Finally, Zacks Research cut Hamilton Lane from a "strong-buy" rating to a "hold" rating in a report on Monday, October 19th. Seven investment analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $126.12.

Hamilton Lane Price Performance

Shares of NASDAQ HLNE opened at $89.46 on Monday. The business's 50 day moving average is $89.41 and its two-hundred day moving average is $96.59. The company has a quick ratio of 3.37, a current ratio of 3.37 and a debt-to-equity ratio of 0.14. Hamilton Lane Inc. has a 52-week low of $71.88 and a 52-week high of $155.66. The firm has a market cap of $4.97 billion, a price-to-earnings ratio of 13.27 and a beta of 1.16.

Hamilton Lane (NASDAQ:HLNE - Get Free Report) last announced its quarterly earnings data on Tuesday, November 3rd. The company reported $1.98 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.65 by $0.33. The business had revenue of $204.43 million for the quarter, compared to analysts' expectations of $215.23 million. Hamilton Lane had a return on equity of 23.47% and a net margin of 32.40%. The company's revenue for the quarter was up 7.1% compared to the same quarter last year. During the same period last year, the firm earned $1.54 earnings per share. Research analysts predict that Hamilton Lane Inc. will post 7.61 EPS for the current year.

Hamilton Lane Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, January 7th. Stockholders of record on Monday, December 21st will be paid a dividend of $0.60 per share. The ex-dividend date of this dividend is Monday, December 21st. This represents a $2.40 annualized dividend and a dividend yield of 2.7%. Hamilton Lane's payout ratio is currently 35.61%.

About Hamilton Lane

Hamilton Lane Incorporated is a global investment management firm focused on private markets. The company serves institutional investors and private wealth clients, offering discretionary investment management and advisory services to help clients build and manage private markets portfolios.

Its strategies include investments in private equity, private credit, infrastructure and other private market assets. Hamilton Lane provides access through commingled funds, customized separate accounts, secondary investments and direct or co-investments.

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