Wasatch Advisors LP Cuts Position in Hamilton Lane Inc. $HLNE

Key Points

• Wasatch Advisors cut its Hamilton Lane position by 34.3% in the second quarter, selling 600,036 shares and retaining 1.15 million shares worth approximately $90.8 million. Institutional investors still own 97.4% of the company.
• Hamilton Lane reported quarterly EPS of $1.94, exceeding estimates by $0.41, while revenue rose 56.5% year over year to $275.3 million. The company also authorized a $100 million share-repurchase plan and declared a quarterly dividend of $0.60 per share.
• Company insiders purchased roughly 95,039 shares worth $8.1 million over the past three months, including significant buys by the COO and chairman. Analysts maintain a consensus “Moderate Buy” rating with an average price target of $131.71.

Wasatch Advisors LP decreased its holdings in Hamilton Lane Inc. (NASDAQ:HLNE - Free Report) by 34.3% in the second quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 1,151,560 shares of the company's stock after selling 600,036 shares during the quarter. Wasatch Advisors LP owned 2.07% of Hamilton Lane worth $90,777,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of HLNE. Quarry LP increased its position in shares of Hamilton Lane by 2,557.1% in the third quarter. Quarry LP now owns 186 shares of the company's stock valued at $25,000 after buying an additional 179 shares in the last quarter. Advisory Services Network LLC purchased a new position in shares of Hamilton Lane during the 3rd quarter valued at approximately $26,000. Parallel Advisors LLC lifted its position in shares of Hamilton Lane by 81.2% during the 4th quarter. Parallel Advisors LLC now owns 241 shares of the company's stock valued at $32,000 after buying an additional 108 shares in the last quarter. Geneos Wealth Management Inc. grew its stake in Hamilton Lane by 196.9% in the 1st quarter. Geneos Wealth Management Inc. now owns 383 shares of the company's stock valued at $57,000 after acquiring an additional 254 shares during the period. Finally, Whittier Trust Co. of Nevada Inc. grew its stake in Hamilton Lane by 27.7% in the 4th quarter. Whittier Trust Co. of Nevada Inc. now owns 415 shares of the company's stock valued at $61,000 after acquiring an additional 90 shares during the period. Hedge funds and other institutional investors own 97.40% of the company's stock.

Insider Activity

In other Hamilton Lane news, COO Andrea Anigati Kramer purchased 1,283 shares of the stock in a transaction that occurred on Thursday, June 11th. The shares were purchased at an average cost of $77.46 per share, for a total transaction of $99,381.18. Following the completion of the transaction, the chief operating officer owned 87,350 shares of the company's stock, valued at $6,766,131. The trade was a 1.49% increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Chairman Hartley R. Rogers acquired 55,000 shares of the company's stock in a transaction that occurred on Tuesday, May 26th. The shares were acquired at an average cost of $90.05 per share, with a total value of $4,952,750.00. Following the purchase, the chairman owned 55,000 shares in the company, valued at $4,952,750. This represents a ∞ increase in their position. The disclosure for this purchase is available in the SEC filing. Over the last three months, insiders bought 95,039 shares of company stock worth $8,100,739. Insiders own 23.99% of the company's stock.

Hamilton Lane Stock Up 4.5%

NASDAQ HLNE opened at $104.84 on Wednesday. The business has a fifty day moving average price of $84.31 and a 200 day moving average price of $97.95. The company has a debt-to-equity ratio of 0.16, a quick ratio of 3.49 and a current ratio of 3.49. The company has a market cap of $5.82 billion, a P/E ratio of 15.98 and a beta of 1.14. Hamilton Lane Inc. has a one year low of $71.88 and a one year high of $161.13.

Hamilton Lane (NASDAQ:HLNE - Get Free Report) last announced its earnings results on Tuesday, August 4th. The company reported $1.94 earnings per share (EPS) 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 analysts' expectations of $221.94 million. During the same quarter in the previous year, the company posted $1.47 EPS. The firm's quarterly revenue was up 56.5% on a year-over-year basis. Research analysts anticipate that Hamilton Lane Inc. will post 6.95 EPS for the current fiscal year.

Hamilton Lane announced that its board has initiated a share repurchase plan on Thursday, May 21st that authorizes the company to repurchase $100.00 million in shares. This repurchase authorization authorizes the company to purchase up to 2% of its stock through open market purchases. Stock repurchase plans are typically a sign that the company's board of directors believes its shares are undervalued.

Hamilton Lane Announces Dividend

The firm 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 $0.60 dividend. This represents a $2.40 annualized dividend and a dividend yield of 2.3%. The ex-dividend date of this dividend is Monday, September 21st. Hamilton Lane's dividend payout ratio (DPR) is currently 36.59%.

Analyst Upgrades and Downgrades

HLNE has been the subject of several recent analyst reports. Morgan Stanley cut their price target on shares of Hamilton Lane from $141.00 to $123.00 and set an "equal weight" rating for the company in a report on Tuesday, July 21st. Keefe, Bruyette & Woods lifted their target price on shares of Hamilton Lane from $105.00 to $116.00 and gave the company an "outperform" rating in a research report on Wednesday, August 5th. The Goldman Sachs Group cut their target price on shares of Hamilton Lane from $148.00 to $128.00 and set a "buy" rating for the company in a research note on Tuesday, June 30th. BMO Capital Markets set a $94.00 price target on shares of Hamilton Lane in a research report on Monday, July 13th. Finally, UBS Group lifted their price objective on Hamilton Lane from $114.00 to $131.00 and gave the stock a "buy" rating in a report on Wednesday, August 5th. One equities research analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating and two have issued a Hold rating to the company's stock. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $131.71.

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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