LPL Financial LLC Purchases 17,354 Shares of Hamilton Lane Inc. (NASDAQ:HLNE)

Key Points

• LPL Financial LLC increased its stake in Hamilton Lane Inc. by 176.8% in the first quarter, acquiring an additional 17,354 shares for a total of 27,170 shares valued at approximately $4.04 million.
• The company reported an earnings per share (EPS) of $1.31, which exceeded analysts' estimates by $0.33, with revenue of $196.73 million for the quarter, up 11.8% from the previous year.
• A quarterly dividend of $0.54 per share has been declared, with a dividend yield of 1.4%, to be paid on October 6th to stockholders of record on September 19th.

LPL Financial LLC boosted its position in shares of Hamilton Lane Inc. (NASDAQ:HLNE - Free Report) by 176.8% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 27,170 shares of the company's stock after acquiring an additional 17,354 shares during the quarter. LPL Financial LLC's holdings in Hamilton Lane were worth $4,039,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. MassMutual Private Wealth & Trust FSB raised its position in shares of Hamilton Lane by 252.0% in the first quarter. MassMutual Private Wealth & Trust FSB now owns 176 shares of the company's stock valued at $26,000 after purchasing an additional 126 shares during the period. Versant Capital Management Inc bought a new position in Hamilton Lane during the first quarter worth about $30,000. Whittier Trust Co. of Nevada Inc. bought a new position in Hamilton Lane during the first quarter worth about $33,000. Kapitalo Investimentos Ltda bought a new position in Hamilton Lane during the fourth quarter worth about $65,000. Finally, UMB Bank n.a. increased its position in Hamilton Lane by 270.3% during the first quarter. UMB Bank n.a. now owns 474 shares of the company's stock worth $70,000 after acquiring an additional 346 shares during the period. 97.40% of the stock is owned by institutional investors.

Hamilton Lane Trading Down 1.5%

HLNE opened at $158.44 on Friday. The company's 50 day moving average is $149.24 and its 200-day moving average is $151.70. Hamilton Lane Inc. has a 1-year low of $124.10 and a 1-year high of $203.72. The company has a current ratio of 4.32, a quick ratio of 4.32 and a debt-to-equity ratio of 0.29. The company has a market cap of $8.48 billion, a P/E ratio of 30.47 and a beta of 1.23.

Hamilton Lane (NASDAQ:HLNE - Get Free Report) last posted its quarterly earnings results on Tuesday, August 5th. The company reported $1.31 earnings per share for the quarter, beating analysts' consensus estimates of $0.98 by $0.33. Hamilton Lane had a net margin of 30.66% and a return on equity of 29.47%. The company had revenue of $196.73 million for the quarter, compared to the consensus estimate of $166.96 million. During the same period last year, the company posted $1.47 EPS. The firm's quarterly revenue was up 11.8% compared to the same quarter last year. Equities research analysts predict that Hamilton Lane Inc. will post 4.97 earnings per share for the current fiscal year.

Hamilton Lane Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, October 6th. Stockholders of record on Friday, September 19th will be paid a $0.54 dividend. This represents a $2.16 dividend on an annualized basis and a dividend yield of 1.4%. The ex-dividend date is Friday, September 19th. Hamilton Lane's dividend payout ratio (DPR) is presently 41.54%.

Analysts Set New Price Targets

A number of equities research analysts have issued reports on HLNE shares. JPMorgan Chase & Co. reduced their price objective on shares of Hamilton Lane from $153.00 to $145.00 and set a "neutral" rating on the stock in a research note on Wednesday, July 23rd. Keefe, Bruyette & Woods increased their price objective on shares of Hamilton Lane from $160.00 to $168.00 and gave the stock a "market perform" rating in a research note on Wednesday, August 6th. Wall Street Zen upgraded shares of Hamilton Lane from a "sell" rating to a "hold" rating in a research note on Saturday, August 9th. Oppenheimer downgraded shares of Hamilton Lane from an "outperform" rating to a "market perform" rating in a research note on Thursday, May 15th. Finally, Wells Fargo & Company increased their price objective on shares of Hamilton Lane from $161.00 to $162.00 and gave the stock an "equal weight" rating in a research note on Friday, July 11th. One equities research analyst has rated the stock with a sell rating and seven have assigned a hold rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of "Hold" and an average price target 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.

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