Mirae Asset Global Investments Co. Ltd. Cuts Position in Hamilton Lane Inc. $HLNE

Key Points

• Mirae Asset Global Investments Co. Ltd. reduced its stake in Hamilton Lane Inc. by 35.5%, owning 6,300 shares valued at approximately $895,000 after selling 3,473 shares.
• Major shareholder River 5 Ltd French sold 150,000 shares at an average price of $146.51, resulting in a total sale value of $21.98 million and a 31.25% decrease in their ownership.
• The company's recent quarterly earnings exceeded expectations, reporting $1.31 earnings per share and an increase in revenue of 11.8% year-over-year, totaling $196.73 million.

Mirae Asset Global Investments Co. Ltd. cut its stake in Hamilton Lane Inc. (NASDAQ:HLNE - Free Report) by 35.5% in the 2nd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 6,300 shares of the company's stock after selling 3,473 shares during the period. Mirae Asset Global Investments Co. Ltd.'s holdings in Hamilton Lane were worth $895,000 as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in the business. CWM LLC boosted its holdings in shares of Hamilton Lane by 18.2% during the first quarter. CWM LLC now owns 611 shares of the company's stock worth $91,000 after purchasing an additional 94 shares during the period. GAMMA Investing LLC boosted its holdings in shares of Hamilton Lane by 14.8% during the second quarter. GAMMA Investing LLC now owns 1,056 shares of the company's stock worth $150,000 after purchasing an additional 136 shares during the period. Securian Asset Management Inc. boosted its holdings in shares of Hamilton Lane by 4.4% during the first quarter. Securian Asset Management Inc. now owns 3,292 shares of the company's stock worth $489,000 after purchasing an additional 140 shares during the period. WPG Advisers LLC purchased a new stake in shares of Hamilton Lane during the first quarter worth about $26,000. Finally, Vista Finance LLC boosted its holdings in shares of Hamilton Lane by 8.1% during the first quarter. Vista Finance LLC now owns 2,468 shares of the company's stock worth $367,000 after purchasing an additional 184 shares during the period. 97.40% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at Hamilton Lane

In related news, major shareholder River 5 Ltd French sold 150,000 shares of the firm's stock in a transaction that occurred on Thursday, September 4th. The shares were sold at an average price of $146.51, for a total value of $21,976,500.00. Following the sale, the insider owned 330,015 shares in the company, valued at approximately $48,350,497.65. This trade represents a 31.25% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Corporate insiders own 22.21% of the company's stock.

Hamilton Lane Price Performance

Shares of HLNE opened at $118.85 on Friday. The company has a market capitalization of $6.62 billion, a P/E ratio of 22.86 and a beta of 1.20. The company has a quick ratio of 4.32, a current ratio of 4.32 and a debt-to-equity ratio of 0.29. The firm has a 50 day moving average of $146.78 and a 200 day moving average of $149.27. Hamilton Lane Inc. has a twelve month low of $115.97 and a twelve month high of $203.72.

Hamilton Lane (NASDAQ:HLNE - Get Free Report) last announced its quarterly earnings results on Tuesday, August 5th. The company reported $1.31 earnings per share for the quarter, beating the consensus estimate 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 during the quarter, compared to the consensus estimate of $166.96 million. During the same quarter last year, the firm earned $1.47 earnings per share. The firm's quarterly revenue was up 11.8% compared to the same quarter last year. As a group, equities research analysts anticipate that Hamilton Lane Inc. will post 4.97 earnings per share for the current fiscal year.

Hamilton Lane Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, October 6th. Investors of record on Friday, September 19th were issued a $0.54 dividend. The ex-dividend date was Friday, September 19th. This represents a $2.16 annualized dividend and a yield of 1.8%. Hamilton Lane's dividend payout ratio (DPR) is currently 41.54%.

Wall Street Analysts Forecast Growth

A number of analysts have recently weighed in on HLNE shares. The Goldman Sachs Group upgraded shares of Hamilton Lane from a "sell" rating to a "neutral" rating and increased their target price for the stock from $149.00 to $162.00 in a report on Thursday, September 18th. Wells Fargo & Company increased their target price on shares of Hamilton Lane from $161.00 to $162.00 and gave the stock an "equal weight" rating in a report on Friday, July 11th. Weiss Ratings upgraded shares of Hamilton Lane from a "hold (c+)" rating to a "buy (b-)" rating in a report on Wednesday. Keefe, Bruyette & Woods increased their price target 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. Finally, JPMorgan Chase & Co. decreased their price target on shares of Hamilton Lane from $153.00 to $145.00 and set a "neutral" rating for the company in a research note on Wednesday, July 23rd. Two investment analysts have rated the stock with a Strong Buy rating, one has given a Buy rating and seven have given a Hold rating to the stock. Based on data from MarketBeat.com, Hamilton Lane has an average rating of "Moderate Buy" and an average price target of $164.38.

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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