Insider Buying: Hamilton Lane (NASDAQ:HLNE) Chairman Purchases 38,290 Shares of Stock

Key Points

• Hamilton Lane Chairman Hartley Rogers bought 38,290 shares on June 11 at an average price of $78.49, spending about $3.0 million and increasing his direct ownership by 69% to 93,756 shares.
• The stock rose 2.4% to $81.99 in Monday trading, though it remains well below its 50-day and 200-day moving averages of $90.94 and $113.11, respectively.
• Hamilton Lane recently boosted its quarterly dividend to $0.60 per share from $0.54 and authorized a $100 million share repurchase plan, signaling management confidence in the stock.

Hamilton Lane Inc. (NASDAQ:HLNE - Get Free Report) Chairman Hartley Rogers purchased 38,290 shares of the stock in a transaction on Thursday, June 11th. The stock was acquired at an average price of $78.49 per share, with a total value of $3,005,382.10. Following the acquisition, the chairman directly owned 93,756 shares in the company, valued at $7,358,908.44. This trade represents a 69.03% increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at this link.

Hamilton Lane Trading Up 2.4%

HLNE traded up $1.89 during midday trading on Monday, hitting $81.99. The company's stock had a trading volume of 927,353 shares, compared to its average volume of 813,974. The firm has a market cap of $4.55 billion, a P/E ratio of 13.87 and a beta of 1.15. The firm has a 50-day moving average price of $90.94 and a two-hundred day moving average price of $113.11. Hamilton Lane Inc. has a 52-week low of $75.93 and a 52-week high of $161.13.

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

Hamilton Lane Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, July 7th. Shareholders of record on Thursday, June 18th will be issued a $0.60 dividend. This is a positive change from Hamilton Lane's previous quarterly dividend of $0.54. The ex-dividend date is Thursday, June 18th. This represents a $2.40 annualized dividend and a yield of 2.9%. Hamilton Lane's dividend payout ratio (DPR) is presently 36.55%.

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

Hedge Funds Weigh In On Hamilton Lane

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Artisan Partners Limited Partnership grew its stake in Hamilton Lane by 24.8% during the 3rd quarter. Artisan Partners Limited Partnership now owns 318,111 shares of the company's stock worth $42,878,000 after buying an additional 63,220 shares during the last quarter. Jefferies Financial Group Inc. grew 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 worth $13,195,000 after purchasing an additional 58,291 shares in the last quarter. Principal Financial Group Inc. grew its stake in shares of Hamilton Lane by 148.3% in the fourth quarter. Principal Financial Group Inc. now owns 1,085,850 shares of the company's stock worth $145,844,000 after purchasing an additional 648,588 shares in the last quarter. Danske Bank A S grew its stake in shares of Hamilton Lane by 19,024.0% in the fourth quarter. Danske Bank A S now owns 19,124 shares of the company's stock worth $2,569,000 after purchasing an additional 19,024 shares in the last quarter. Finally, SG Americas Securities LLC grew its stake in shares of Hamilton Lane by 541.8% in the fourth quarter. SG Americas Securities LLC now owns 71,717 shares of the company's stock worth $9,632,000 after purchasing an additional 60,542 shares in the last quarter. 97.40% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

HLNE has been the topic of several research analyst reports. Weiss Ratings reaffirmed a "hold (c)" rating on shares of Hamilton Lane in a research note on Wednesday, June 3rd. The Goldman Sachs Group set a $148.00 price objective on Hamilton Lane and gave the company a "buy" rating in a research note on Friday, May 22nd. UBS Group reduced their price objective on Hamilton Lane from $184.00 to $150.00 and set a "buy" rating on the stock in a research note on Friday, February 20th. Morgan Stanley reduced their price objective on Hamilton Lane from $159.00 to $141.00 and set an "equal weight" rating on the stock in a research note on Tuesday, April 21st. Finally, Oppenheimer lifted their price objective on Hamilton Lane from $171.00 to $179.00 and gave the company an "outperform" rating in a research note on Friday, May 22nd. Six equities research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average target price of $150.00.

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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