Hamilton Lane (NASDAQ:HLNE) Chairman Hartley Rogers Purchases 55,000 Shares

Key Points

• Chairman Hartley Rogers bought 55,000 shares of Hamilton Lane at an average price of $90.05, a transaction valued at about $4.95 million. After the purchase, he owned 55,000 shares, according to an SEC filing.
• Hamilton Lane recently reported quarterly earnings of $1.49 per share, topping analyst expectations of $1.43, though revenue of $193.57 million came in below forecasts and was down 2.2% year over year.
• The company announced a higher quarterly dividend of $0.60 per share, up from $0.54, and authorized a $100 million stock buyback program. Analysts currently have a consensus rating of Moderate Buy with a $150 target price.

Hamilton Lane Inc. (NASDAQ:HLNE - Get Free Report) Chairman Hartley Rogers bought 55,000 shares of the company's stock in a transaction on Tuesday, May 26th. The stock was purchased at an average cost of $90.05 per share, with a total value of $4,952,750.00. Following the completion of the transaction, the chairman owned 55,000 shares in the company, valued at $4,952,750. This represents a ∞ increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link.

Hamilton Lane Price Performance

Shares of Hamilton Lane stock traded down $4.34 on Thursday, reaching $86.15. 1,774,513 shares of the company were exchanged, compared to its average volume of 786,578. Hamilton Lane Inc. has a 1-year low of $82.23 and a 1-year high of $179.19. The company has a market cap of $4.81 billion, a P/E ratio of 14.58 and a beta of 1.18. The stock's 50 day moving average price is $95.05 and its 200-day moving average price is $116.94.

Hamilton Lane (NASDAQ:HLNE - Get Free Report) last announced its quarterly earnings data on Thursday, May 21st. The company reported $1.49 EPS for the quarter, topping analysts' consensus estimates of $1.43 by $0.06. Hamilton Lane had a return on equity of 25.98% and a net margin of 32.83%.The business had revenue of $193.57 million during the quarter, compared to the consensus estimate of $203.05 million. During the same period in the previous year, the company posted $1.21 earnings per share. The business's revenue for the quarter was down 2.2% on a year-over-year basis. On average, research analysts predict that Hamilton Lane Inc. will post 6.18 earnings per share for the current fiscal year.

Hamilton Lane Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, July 7th. Investors of record on Thursday, June 18th will be paid a dividend of $0.60 per share. The ex-dividend date is Thursday, June 18th. This is a positive change from Hamilton Lane's previous quarterly dividend of $0.54. This represents a $2.40 annualized dividend and a yield of 2.8%. Hamilton Lane's dividend payout ratio (DPR) is presently 36.55%.

Hamilton Lane announced that its board has authorized a stock repurchase program on Thursday, May 21st that allows the company to buyback $100.00 million in shares. This buyback authorization allows the company to reacquire up to 2% of its stock through open market purchases. Stock buyback programs are usually an indication that the company's leadership believes its shares are undervalued.

Institutional Trading of Hamilton Lane

Institutional investors and hedge funds have recently made changes to their positions in the stock. Quarry LP lifted 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 acquiring an additional 179 shares in the last quarter. Advisory Services Network LLC purchased a new stake in shares of Hamilton Lane in the third quarter valued at $26,000. Cornerstone Planning Group LLC lifted its position in shares of Hamilton Lane by 347.7% in the third quarter. Cornerstone Planning Group LLC now owns 197 shares of the company's stock valued at $27,000 after acquiring an additional 153 shares in the last quarter. Hantz Financial Services Inc. lifted its position in shares of Hamilton Lane by 80.5% in the third quarter. Hantz Financial Services Inc. now owns 213 shares of the company's stock valued at $29,000 after acquiring an additional 95 shares in the last quarter. Finally, Parallel Advisors LLC lifted its position in shares of Hamilton Lane by 81.2% in the fourth quarter. Parallel Advisors LLC now owns 241 shares of the company's stock valued at $32,000 after acquiring an additional 108 shares in the last quarter. 97.40% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of equities research analysts have weighed in on the company. Morgan Stanley reduced their price objective on Hamilton Lane from $159.00 to $141.00 and set an "equal weight" rating for the company in a research note on Tuesday, April 21st. Zacks Research downgraded shares of Hamilton Lane from a "strong-buy" rating to a "hold" rating in a research report on Monday, April 6th. BMO Capital Markets decreased their price target on Hamilton Lane from $108.00 to $102.00 and set an "outperform" rating on the stock in a research note on Friday, May 22nd. UBS Group decreased their target price on shares of Hamilton Lane from $184.00 to $150.00 and set a "buy" rating on the stock in a research report on Friday, February 20th. Finally, Keefe, Bruyette & Woods restated an "outperform" rating on shares of Hamilton Lane in a research report on Friday, May 22nd. Six research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company's stock. According to MarketBeat.com, Hamilton Lane presently has a consensus rating of "Moderate Buy" and a consensus target price of $150.00.

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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