Portside Wealth Group LLC Takes Position in Hamilton Lane Incorporated (NASDAQ:HLNE)

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

Several other hedge funds have also recently added to or reduced their stakes in HLNE. MassMutual Private Wealth & Trust FSB boosted its holdings in Hamilton Lane by 252.0% during 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 in the last quarter. Versant Capital Management Inc bought a new position in shares of Hamilton Lane during the 1st quarter worth approximately $30,000. CBIZ Investment Advisory Services LLC boosted its stake in Hamilton Lane by 27.0% in the 4th quarter. CBIZ Investment Advisory Services LLC now owns 287 shares of the company's stock valued at $43,000 after buying an additional 61 shares in the last quarter. Farther Finance Advisors LLC boosted its stake in Hamilton Lane by 283.3% in the 4th quarter. Farther Finance Advisors LLC now owns 299 shares of the company's stock valued at $44,000 after buying an additional 221 shares in the last quarter. Finally, Kapitalo Investimentos Ltda bought a new stake in Hamilton Lane in the fourth quarter valued at $65,000. Institutional investors and hedge funds own 97.40% of the company's stock.

Analyst Ratings Changes

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

Hamilton Lane Price Performance

NASDAQ:HLNE traded down $0.85 during mid-day trading on Thursday, reaching $146.49. 855,171 shares of the company were exchanged, compared to its average volume of 469,595. The company has a quick ratio of 4.19, a current ratio of 4.19 and a debt-to-equity ratio of 0.34. The stock has a market cap of $7.84 billion, a PE ratio of 27.03 and a beta of 1.25. Hamilton Lane Incorporated has a 12 month low of $114.85 and a 12 month high of $203.72. The company has a fifty day moving average of $153.30 and a 200 day moving average of $155.52.

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

Hamilton Lane Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, July 7th. Shareholders of record on Friday, June 20th will be given a $0.54 dividend. This represents a $2.16 dividend on an annualized basis and a yield of 1.47%. This is a positive change from Hamilton Lane's previous quarterly dividend of $0.49. The ex-dividend date is Friday, June 20th. Hamilton Lane's dividend payout ratio (DPR) is presently 40.07%.

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.