Hamilton Lane (NASDAQ:HLNE) Announces Earnings Results

Key Points

• Hamilton Lane (NASDAQ:HLNE) reported quarterly earnings of $1.31 per share, exceeding analyst expectations by $0.33, with revenue of $196.73 million also surpassing estimates.
• The company announced a quarterly dividend of $0.54, which will be distributed to shareholders on October 6th, representing a 1.4% yield.
• Analysts have adjusted their ratings for Hamilton Lane, with a mix of downgrades and price target changes, leading to an average target price of $161.29.

Hamilton Lane (NASDAQ:HLNE - Get Free Report) posted its quarterly earnings data on Tuesday. The company reported $1.31 earnings per share for the quarter, topping the consensus estimate of $0.98 by $0.33, Zacks reports. The firm had revenue of $196.73 million during the quarter, compared to analysts' expectations of $166.96 million. Hamilton Lane had a net margin of 30.66% and a return on equity of 29.47%. Hamilton Lane's revenue was up 11.8% on a year-over-year basis. During the same quarter in the previous year, the company posted $1.47 EPS.

Hamilton Lane Price Performance

Shares of Hamilton Lane stock traded up $1.35 on Friday, reaching $154.54. 276,636 shares of the stock were exchanged, compared to its average volume of 415,028. The company has a debt-to-equity ratio of 0.29, a quick ratio of 4.83 and a current ratio of 4.32. The firm has a market cap of $8.28 billion, a PE ratio of 29.72 and a beta of 1.23. The firm's 50 day moving average is $148.59 and its 200-day moving average is $151.76. Hamilton Lane has a one year low of $124.10 and a one year high of $203.72.

Hamilton Lane Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, October 6th. Shareholders of record on Friday, September 19th will be paid a dividend of $0.54 per share. This represents a $2.16 dividend on an annualized basis and a yield of 1.4%. The ex-dividend date is Friday, September 19th. Hamilton Lane's dividend payout ratio is presently 41.54%.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the business. Geneos Wealth Management Inc. increased its holdings in Hamilton Lane by 196.9% in the 1st quarter. Geneos Wealth Management Inc. now owns 383 shares of the company's stock worth $57,000 after purchasing an additional 254 shares in the last quarter. Jones Financial Companies Lllp increased its stake in shares of Hamilton Lane by 4,806.7% in the first quarter. Jones Financial Companies Lllp now owns 5,103 shares of the company's stock valued at $759,000 after buying an additional 4,999 shares during the period. Finally, Royal Bank of Canada raised its holdings in Hamilton Lane by 6.0% in the 1st quarter. Royal Bank of Canada now owns 52,466 shares of the company's stock valued at $7,800,000 after buying an additional 2,948 shares during the last quarter. Institutional investors own 97.40% of the company's stock.

Wall Street Analysts Forecast Growth

A number of analysts have commented on the stock. Morgan Stanley lowered their target price on shares of Hamilton Lane from $190.00 to $157.00 and set an "equal weight" rating for the company in a report on Monday, April 14th. Wells Fargo & Company lifted their price objective on Hamilton Lane from $161.00 to $162.00 and gave the stock an "equal weight" rating in a research note on Friday, July 11th. Wall Street Zen raised Hamilton Lane from a "sell" rating to a "hold" rating in a research note on Saturday. Oppenheimer cut Hamilton Lane from an "outperform" rating to a "market perform" rating in a report on Thursday, May 15th. Finally, JPMorgan Chase & Co. lowered their price target on Hamilton Lane from $153.00 to $145.00 and set a "neutral" rating for the company in a research note on Wednesday, July 23rd. One investment analyst has rated the stock with a sell rating and seven have issued a hold rating to the stock. According to data from MarketBeat, Hamilton Lane currently has an average rating of "Hold" and a consensus target price of $163.14.

Hamilton Lane Company Profile

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.