Portside Wealth Group LLC Takes $296,000 Position in Hamilton Lane Incorporated (NASDAQ:HLNE)

Portside Wealth Group LLC purchased a new position in Hamilton Lane Incorporated (NASDAQ:HLNE - Free Report) during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 1,990 shares of the company's stock, valued at approximately $296,000.

A number of other hedge funds also recently bought and sold shares of HLNE. Park Avenue Securities LLC lifted its stake in shares of Hamilton Lane by 41.9% in the 1st quarter. Park Avenue Securities LLC now owns 3,687 shares of the company's stock valued at $548,000 after purchasing an additional 1,088 shares during the last quarter. OLD National Bancorp IN raised its holdings in Hamilton Lane by 10.3% during the 1st quarter. OLD National Bancorp IN now owns 1,653 shares of the company's stock valued at $246,000 after buying an additional 155 shares during the period. UMB Bank n.a. lifted its position in Hamilton Lane by 270.3% in the first quarter. UMB Bank n.a. now owns 474 shares of the company's stock worth $70,000 after buying an additional 346 shares during the last quarter. Lifestyle Asset Management Inc. boosted its stake in Hamilton Lane by 8.0% during the first quarter. Lifestyle Asset Management Inc. now owns 1,636 shares of the company's stock worth $243,000 after buying an additional 121 shares during the period. Finally, NBC Securities Inc. increased its position in Hamilton Lane by 106,625.0% during the first quarter. NBC Securities Inc. now owns 4,269 shares of the company's stock valued at $634,000 after acquiring an additional 4,265 shares during the last quarter. Hedge funds and other institutional investors own 97.40% of the company's stock.

Hamilton Lane Trading Down 5.1%

HLNE stock traded down $7.54 during mid-day trading on Friday, reaching $138.95. The company had a trading volume of 791,536 shares, compared to its average volume of 472,796. The company has a market capitalization of $7.44 billion, a PE ratio of 25.64 and a beta of 1.25. The firm has a 50 day moving average of $153.55 and a 200 day moving average of $154.85. Hamilton Lane Incorporated has a 12 month low of $114.85 and a 12 month high of $203.72. The company has a debt-to-equity ratio of 0.34, a current ratio of 4.19 and a quick ratio of 4.19.

Hamilton Lane (NASDAQ:HLNE - Get Free Report) last announced its quarterly earnings results on Thursday, May 29th. The company reported $1.21 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.20 by $0.01. The firm had revenue of $197.97 million during the quarter, compared to analyst estimates of $165.49 million. Hamilton Lane had a return on equity of 36.69% and a net margin of 31.12%. Hamilton Lane's quarterly revenue was up 12.1% on a year-over-year basis. During the same quarter in the previous year, the business earned $1.38 earnings per share. On average, equities analysts predict that Hamilton Lane Incorporated will post 4.97 earnings per share for the current fiscal year.

Hamilton Lane Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, July 7th. Stockholders of record on Friday, June 20th will be given a dividend of $0.54 per share. This is an increase from Hamilton Lane's previous quarterly dividend of $0.49. The ex-dividend date is Friday, June 20th. This represents a $2.16 dividend on an annualized basis and a dividend yield of 1.55%. Hamilton Lane's dividend payout ratio is presently 40.07%.

Wall Street Analyst Weigh In

HLNE has been the subject of several analyst reports. Morgan Stanley lowered their target price on shares of Hamilton Lane from $190.00 to $157.00 and set an "equal weight" rating for the company in a report on Monday, April 14th. JPMorgan Chase & Co. reduced their price objective on shares of Hamilton Lane from $176.00 to $167.00 and set a "neutral" rating on the stock in a research report on Tuesday, April 29th. Wall Street Zen lowered Hamilton Lane from a "hold" rating to a "sell" rating in a research report on Friday, June 6th. Oppenheimer cut Hamilton Lane from an "outperform" rating to a "market perform" rating in a research note on Thursday, May 15th. Finally, Wells Fargo & Company reduced their price target on Hamilton Lane from $166.00 to $161.00 and set an "equal weight" rating on the stock in a report on Friday, May 30th. Two equities research analysts have rated the stock with a sell rating and six have issued a hold rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of "Hold" and a consensus price target of $164.29.

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.