Hartley Rogers Buys 466 Shares of Hamilton Lane (NASDAQ:HLNE) Stock

Key Points

• Chairman Hartley Rogers bought 466 shares of Hamilton Lane at an average price of $92.76, increasing his ownership by 0.85% to 55,466 shares.
• Hamilton Lane shares fell 4.8% to $86.15, trading below both its 50-day moving average of $95.05 and 200-day moving average of $116.94.
• The company recently beat earnings expectations with $1.49 EPS, announced a $100 million share buyback, and raised its quarterly dividend to $0.60 per share.

Hamilton Lane Inc. (NASDAQ:HLNE - Get Free Report) Chairman Hartley Rogers purchased 466 shares of the company's stock in a transaction that occurred on Wednesday, May 27th. The shares were acquired at an average cost of $92.76 per share, with a total value of $43,226.16. Following the completion of the purchase, the chairman owned 55,466 shares of the company's stock, valued at $5,145,026.16. The trade was a 0.85% increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which is available at the SEC website.

Hamilton Lane Trading Down 4.8%

Shares of HLNE traded down $4.34 on Thursday, reaching $86.15. 1,776,779 shares of the company's stock were exchanged, compared to its average volume of 786,578. The stock has a market capitalization of $4.81 billion, a P/E ratio of 14.58 and a beta of 1.18. The business has a 50 day moving average price of $95.05 and a two-hundred day moving average price of $116.94. Hamilton Lane Inc. has a 12 month low of $82.23 and a 12 month high of $179.19.

Hamilton Lane (NASDAQ:HLNE - Get Free Report) last posted its quarterly earnings results on Thursday, May 21st. The company reported $1.49 earnings per share for the quarter, topping analysts' consensus estimates of $1.43 by $0.06. The business had revenue of $193.57 million during the quarter, compared to the consensus estimate of $203.05 million. Hamilton Lane had a net margin of 32.83% and a return on equity of 25.98%. Hamilton Lane'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 firm posted $1.21 earnings per share. Equities research analysts predict that Hamilton Lane Inc. will post 6.18 EPS for the current year.

Hamilton Lane announced that its Board of Directors has approved a stock buyback plan on Thursday, May 21st that permits the company to repurchase $100.00 million in shares. This repurchase authorization permits the company to reacquire up to 2% of its shares through open market purchases. Shares repurchase plans are usually a sign that the company's board believes its shares are undervalued.

Hamilton Lane Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, July 7th. Shareholders of record on Thursday, June 18th will be paid a $0.60 dividend. The ex-dividend date of this dividend is Thursday, June 18th. This is a boost 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 payout ratio is currently 36.55%.

Institutional Investors Weigh In On Hamilton Lane

Several large investors have recently made changes to their positions in the stock. Argent Capital Management LLC increased its position in shares of Hamilton Lane by 53.9% during the first quarter. Argent Capital Management LLC now owns 55,236 shares of the company's stock worth $5,490,000 after acquiring an additional 19,345 shares in the last quarter. Edgestream Partners L.P. bought a new stake in shares of Hamilton Lane during the first quarter worth $233,000. Janus Henderson Group PLC increased its position in shares of Hamilton Lane by 12.9% during the first quarter. Janus Henderson Group PLC now owns 905,660 shares of the company's stock worth $90,045,000 after acquiring an additional 103,663 shares in the last quarter. Amundi increased its position in shares of Hamilton Lane by 18.9% during the first quarter. Amundi now owns 24,167 shares of the company's stock worth $2,402,000 after acquiring an additional 3,833 shares in the last quarter. Finally, California State Teachers Retirement System increased its position in shares of Hamilton Lane by 24.2% during the first quarter. California State Teachers Retirement System now owns 49,007 shares of the company's stock worth $4,871,000 after acquiring an additional 9,556 shares in the last quarter. Institutional investors own 97.40% of the company's stock.

Analyst Ratings Changes

Several equities research analysts have commented on the stock. UBS Group lowered their target price on shares of Hamilton Lane from $184.00 to $150.00 and set a "buy" rating for the company in a research note on Friday, February 20th. Morgan Stanley lowered their target price on shares of 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. Oppenheimer upped their target price on shares of Hamilton Lane from $171.00 to $179.00 and gave the company an "outperform" rating in a research note on Friday, May 22nd. Keefe, Bruyette & Woods reaffirmed an "outperform" rating on shares of Hamilton Lane in a research note on Friday, May 22nd. Finally, Zacks Research downgraded shares of Hamilton Lane from a "strong-buy" rating to a "hold" rating in a research note on Monday, April 6th. Six investment analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average price target 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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