Y Intercept Hong Kong Ltd Invests $1.27 Million in Hamilton Lane Inc. $HLNE

Key Points

• Y Intercept Hong Kong Ltd disclosed a new first-quarter position in Hamilton Lane, buying 12,821 shares valued at about $1.27 million.
• Hamilton Lane reported better-than-expected earnings of $1.49 per share for the quarter, while revenue came in slightly below estimates and declined 2.2% year over year.
• The company boosted shareholder returns by raising its quarterly dividend to $0.60 per share and authorizing a $100 million share buyback; insiders also bought stock over the past 90 days.

Y Intercept Hong Kong Ltd bought a new stake in Hamilton Lane Inc. (NASDAQ:HLNE - Free Report) in the 1st quarter, according to its most recent 13F filing with the SEC. The firm bought 12,821 shares of the company's stock, valued at approximately $1,274,000.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Jefferies Financial Group Inc. lifted its stake in shares of Hamilton Lane by 145.9% in the fourth quarter. Jefferies Financial Group Inc. now owns 98,241 shares of the company's stock valued at $13,195,000 after buying an additional 58,291 shares in the last quarter. Principal Financial Group Inc. grew its holdings in shares of Hamilton Lane by 148.3% during the fourth quarter. Principal Financial Group Inc. now owns 1,085,850 shares of the company's stock valued at $145,844,000 after buying an additional 648,588 shares during the last quarter. Danske Bank A S increased its position in shares of Hamilton Lane by 19,024.0% during the fourth quarter. Danske Bank A S now owns 19,124 shares of the company's stock worth $2,569,000 after acquiring an additional 19,024 shares in the last quarter. SG Americas Securities LLC increased its position in shares of Hamilton Lane by 541.8% during the fourth quarter. SG Americas Securities LLC now owns 71,717 shares of the company's stock worth $9,632,000 after acquiring an additional 60,542 shares in the last quarter. Finally, Vaughan Nelson Investment Management L.P. acquired a new stake in shares of Hamilton Lane in the 4th quarter worth about $40,855,000. 97.40% of the stock is owned by institutional investors.

Hamilton Lane Price Performance

Shares of HLNE stock traded up $0.48 on Friday, hitting $81.09. The stock had a trading volume of 725,443 shares, compared to its average volume of 941,645. The business has a 50 day moving average of $83.47 and a 200 day moving average of $106.56. Hamilton Lane Inc. has a 12-month low of $71.88 and a 12-month high of $161.13. The stock has a market cap of $4.50 billion, a price-to-earnings ratio of 13.72 and a beta of 1.16.

Hamilton Lane (NASDAQ:HLNE - Get Free Report) last released its quarterly earnings results on Thursday, May 21st. The company reported $1.49 earnings per share for the quarter, topping the consensus estimate of $1.43 by $0.06. The business had revenue of $193.57 million for the quarter, compared to analysts' expectations of $203.05 million. Hamilton Lane had a net margin of 32.83% and a return on equity of 25.98%. The firm's revenue for the quarter was down 2.2% compared to the same quarter last year. During the same period in the previous year, the company earned $1.21 earnings per share. As a group, research analysts expect that Hamilton Lane Inc. will post 6.33 earnings per share for the current fiscal year.

Hamilton Lane declared that its board has authorized a share buyback plan on Thursday, May 21st that authorizes the company to buyback $100.00 million in shares. This buyback authorization authorizes the company to repurchase up to 2% of its shares through open market purchases. Shares buyback plans are often a sign that the company's leadership believes its shares are undervalued.

Hamilton Lane Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, July 7th. Stockholders of record on Thursday, June 18th were paid a $0.60 dividend. This represents a $2.40 dividend on an annualized basis and a dividend yield of 3.0%. The ex-dividend date was Thursday, June 18th. This is a boost from Hamilton Lane's previous quarterly dividend of $0.54. Hamilton Lane's dividend payout ratio (DPR) is presently 40.61%.

Insider Activity at Hamilton Lane

In other Hamilton Lane news, Chairman Hartley R. Rogers purchased 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, for a total transaction of $4,952,750.00. Following the completion of the acquisition, the chairman owned 55,000 shares of the company's stock, valued at $4,952,750. The trade was a ∞ increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, COO Andrea Anigati Kramer acquired 1,283 shares of the business's stock in a transaction on Thursday, June 11th. The stock was acquired at an average cost of $77.46 per share, for a total transaction of $99,381.18. Following the transaction, the chief operating officer owned 87,350 shares of the company's stock, valued at approximately $6,766,131. The trade was a 1.49% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. Over the last ninety days, insiders bought 95,039 shares of company stock valued at $8,100,739. 22.21% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

Several equities analysts recently weighed in on the stock. Weiss Ratings reaffirmed a "hold (c)" rating on shares of Hamilton Lane in a research report on Wednesday, June 3rd. JPMorgan Chase & Co. decreased their price objective on Hamilton Lane from $166.00 to $148.00 and set an "overweight" rating for the company in a report on Monday, May 18th. BMO Capital Markets lowered their price objective on Hamilton Lane from $108.00 to $102.00 and set an "outperform" rating for the company in a research note on Friday, May 22nd. Zacks Research lowered Hamilton Lane from a "strong-buy" rating to a "hold" rating in a report on Monday, April 6th. Finally, The Goldman Sachs Group cut their target price on Hamilton Lane from $148.00 to $128.00 and set a "buy" rating on the stock in a research report on Tuesday, June 30th. Six equities research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company's stock. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and an average price target of $135.71.

About Hamilton Lane

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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