Squarepoint Ops LLC Purchases New Position in Hamilton Lane Inc. $HLNE

Key Points

• Squarepoint Ops LLC acquired 305,256 shares of Hamilton Lane in the second quarter, valued at approximately $24.1 million and representing 0.55% of the company. Institutional investors collectively own 97.4% of Hamilton Lane.
• Hamilton Lane reported quarterly earnings of $1.94 per share, exceeding the $1.53 consensus estimate, while revenue rose 56.5% year over year to $275.3 million.
• Analysts maintain a “Moderate Buy” consensus with an average price target of $131.57. The company also declared a $0.60 quarterly dividend and authorized a $100 million share-repurchase program.

Squarepoint Ops LLC acquired a new stake in Hamilton Lane Inc. (NASDAQ:HLNE - Free Report) in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 305,256 shares of the company's stock, valued at approximately $24,063,000. Squarepoint Ops LLC owned approximately 0.55% of Hamilton Lane at the end of the most recent reporting period.

Other hedge funds also recently made changes to their positions in the company. California State Teachers Retirement System increased its position in shares of Hamilton Lane by 7,651.1% during the second quarter. California State Teachers Retirement System now owns 3,798,581 shares of the company's stock worth $299,442,000 after purchasing an additional 3,749,574 shares in the last quarter. Wasatch Advisors LP grew its stake in Hamilton Lane by 15.8% during the 1st quarter. Wasatch Advisors LP now owns 1,751,596 shares of the company's stock worth $174,109,000 after buying an additional 239,397 shares during the last quarter. Invesco Ltd. grew its stake in Hamilton Lane by 7.3% during the 3rd quarter. Invesco Ltd. now owns 1,534,836 shares of the company's stock worth $206,880,000 after buying an additional 104,977 shares during the last quarter. State Street Corp increased its position in Hamilton Lane by 1.4% during the fourth quarter. State Street Corp now owns 1,293,854 shares of the company's stock worth $174,458,000 after buying an additional 18,296 shares during the period. Finally, Principal Financial Group Inc. increased its position in Hamilton Lane by 1.7% during the first quarter. Principal Financial Group Inc. now owns 1,103,913 shares of the company's stock worth $109,725,000 after buying an additional 18,063 shares during the period. Hedge funds and other institutional investors own 97.40% of the company's stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have weighed in on HLNE shares. Zacks Research raised Hamilton Lane from a "hold" rating to a "strong-buy" rating in a report on Friday, August 7th. Oppenheimer cut their target price on shares of Hamilton Lane from $182.00 to $181.00 and set an "outperform" rating on the stock in a report on Thursday, August 27th. BMO Capital Markets set a $94.00 price target on shares of Hamilton Lane in a research report on Monday, July 13th. UBS Group increased their price target on shares of Hamilton Lane from $114.00 to $131.00 and gave the stock a "buy" rating in a research note on Wednesday, August 5th. Finally, Weiss Ratings upgraded shares of Hamilton Lane from a "hold (c-)" rating to a "hold (c)" rating in a research note on Monday, August 31st. One research analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating and two have given a Hold rating to the company's stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $131.57.

Hamilton Lane Stock Down 1.8%

Shares of NASDAQ HLNE opened at $101.17 on Wednesday. The company has a quick ratio of 3.49, a current ratio of 3.49 and a debt-to-equity ratio of 0.16. Hamilton Lane Inc. has a 52 week low of $71.88 and a 52 week high of $155.66. The firm has a 50-day moving average price of $94.20 and a 200 day moving average price of $93.51. The stock has a market capitalization of $5.62 billion, a price-to-earnings ratio of 15.42 and a beta of 1.19.

Hamilton Lane (NASDAQ:HLNE - Get Free Report) last issued its earnings results on Tuesday, August 4th. The company reported $1.94 earnings per share for the quarter, topping the consensus estimate of $1.53 by $0.41. Hamilton Lane had a net margin of 32.14% and a return on equity of 25.10%. The company had revenue of $275.33 million for the quarter, compared to analyst estimates of $221.94 million. During the same period in the prior year, the business posted $1.47 earnings per share. The firm's revenue for the quarter was up 56.5% compared to the same quarter last year. Equities research analysts anticipate that Hamilton Lane Inc. will post 7.25 EPS for the current fiscal year.

Hamilton Lane Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, October 6th. Stockholders of record on Monday, September 21st will be paid a dividend of $0.60 per share. The ex-dividend date of this dividend is Monday, September 21st. This represents a $2.40 annualized dividend and a dividend yield of 2.4%. Hamilton Lane's payout ratio is 36.59%.

Hamilton Lane declared that its Board of Directors has authorized a share repurchase plan on Thursday, May 21st that permits the company to repurchase $100.00 million in shares. This repurchase authorization permits the company to reacquire up to 2% of its stock through open market purchases. Stock repurchase plans are usually an indication that the company's leadership believes its stock is undervalued.

Insider Buying and Selling

In other news, COO Andrea Kramer acquired 1,283 shares of Hamilton Lane stock in a transaction that occurred on Thursday, June 11th. The stock was purchased at an average cost of $77.46 per share, with a total value of $99,381.18. Following the completion of the acquisition, the chief operating officer owned 87,350 shares in the company, valued at $6,766,131. This trade represents a 1.49% increase in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Chairman Hartley R. Rogers bought 38,290 shares of the firm's stock in a transaction on Thursday, June 11th. The shares were purchased at an average price of $78.49 per share, for a total transaction of $3,005,382.10. Following the completion of the transaction, the chairman owned 93,756 shares of the company's stock, valued at $7,358,908.44. This represents a 69.03% increase in their position. The SEC filing for this purchase provides additional information. Corporate insiders own 23.99% of the company's stock.

Hamilton Lane Company Profile

Hamilton Lane is a global private markets investment management firm specializing in the full spectrum of private equity and credit strategies. The company partners with institutional investors and wealth managers to design, implement and manage customized portfolios in primary fund investing, secondary market transactions and direct co-investment opportunities. By combining investment selection, portfolio construction and ongoing monitoring, Hamilton Lane seeks to optimize risk-adjusted returns across diverse private markets exposures.

Founded in 1991, Hamilton Lane has developed a track record of investment and advisory services in private markets.

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