Hamilton Lane (NASDAQ:HLNE) Announces Quarterly 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 analysts' consensus estimates of $0.98 by $0.33, Zacks reports. The business had revenue of $196.73 million for the quarter, compared to analyst estimates of $166.96 million. Hamilton Lane had a return on equity of 29.47% and a net margin of 30.66%. The company's revenue was up 11.8% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.47 earnings per share.

Hamilton Lane Stock Up 0.6%

Shares of NASDAQ HLNE traded up $0.88 during mid-day trading on Friday, reaching $154.07. The company had a trading volume of 104,429 shares, compared to its average volume of 576,630. Hamilton Lane has a 52-week low of $124.10 and a 52-week high of $203.72. The stock has a market cap of $8.25 billion, a P/E ratio of 29.63 and a beta of 1.23. The company has a current ratio of 4.32, a quick ratio of 4.83 and a debt-to-equity ratio of 0.29. The firm has a 50 day simple moving average of $148.50 and a two-hundred day simple moving average of $151.78.

Hamilton Lane Announces Dividend

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

Analyst Ratings Changes

HLNE has been the subject of several analyst reports. Oppenheimer cut Hamilton Lane from an "outperform" rating to a "market perform" rating in a research note on Thursday, May 15th. Wall Street Zen cut Hamilton Lane from a "hold" rating to a "sell" rating in a research note on Friday, June 6th. JPMorgan Chase & Co. cut their target price on shares of Hamilton Lane from $153.00 to $145.00 and set a "neutral" rating on the stock in a research note on Wednesday, July 23rd. Keefe, Bruyette & Woods raised their target price on shares of Hamilton Lane from $160.00 to $168.00 and gave the company a "market perform" rating in a report on Wednesday. Finally, Wells Fargo & Company boosted their price target on shares of Hamilton Lane from $161.00 to $162.00 and gave the stock an "equal weight" rating in a report on Friday, July 11th. Two research analysts have rated the stock with a sell rating and six have given a hold rating to the company. Based on data from MarketBeat, the stock currently has an average rating of "Hold" and an average target price of $163.14.

Hedge Funds Weigh In On Hamilton Lane

Several hedge funds have recently made changes to their positions in the company. Geneos Wealth Management Inc. boosted its position in shares of 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 purchasing an additional 254 shares during the period. Jones Financial Companies Lllp lifted its stake in 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 last quarter. Finally, Royal Bank of Canada boosted its holdings in shares of Hamilton Lane by 6.0% in the first quarter. Royal Bank of Canada now owns 52,466 shares of the company's stock valued at $7,800,000 after acquiring an additional 2,948 shares during the period. Hedge funds and other institutional investors own 97.40% of the company's stock.

About Hamilton Lane

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.