Insider Selling: Hamilton Lane (NASDAQ:HLNE) Major Shareholder Sells 150,000 Shares of Stock

Key Points

• Major shareholder River 5 Ltd French sold 150,000 shares of Hamilton Lane stock at an average price of $146.51, totaling approximately $21.98 million, reducing their ownership by 31.25%.
• Hamilton Lane reported a quarterly EPS of $1.31, exceeding the consensus estimate by $0.33, with revenue rising 11.8% year-over-year.
• The company declared a $0.54 quarterly dividend, representing a 1.5% annual yield, payable on October 6th to shareholders of record from September 19th.

Hamilton Lane Inc. (NASDAQ:HLNE - Get Free Report) major shareholder River 5 Ltd French sold 150,000 shares of the stock in a transaction on Thursday, September 4th. The stock was sold at an average price of $146.51, for a total transaction of $21,976,500.00. Following the completion of the sale, the insider owned 330,015 shares in the company, valued at $48,350,497.65. The trade was a 31.25% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Large shareholders that own at least 10% of a company's stock are required to disclose their sales and purchases with the SEC.

Hamilton Lane Stock Performance

Shares of NASDAQ:HLNE traded down $5.01 during midday trading on Friday, reaching $148.79. The company's stock had a trading volume of 299,411 shares, compared to its average volume of 351,623. The firm has a market capitalization of $8.28 billion, a PE ratio of 28.61 and a beta of 1.26. Hamilton Lane Inc. has a twelve month low of $124.10 and a twelve month high of $203.72. The stock has a fifty day moving average of $152.69 and a 200 day moving average of $150.61. The company has a quick ratio of 4.32, a current ratio of 4.32 and a debt-to-equity ratio of 0.29.

Hamilton Lane (NASDAQ:HLNE - Get Free Report) last released its quarterly earnings data on Tuesday, August 5th. The company reported $1.31 earnings per share for the quarter, topping analysts' consensus estimates of $0.98 by $0.33. Hamilton Lane had a net margin of 30.66% and a return on equity of 29.47%. The firm had revenue of $196.73 million for the quarter, compared to analyst estimates of $166.96 million. During the same quarter in the prior year, the business earned $1.47 earnings per share. The business's quarterly revenue was up 11.8% compared to the same quarter last year. On average, equities analysts expect that Hamilton Lane Inc. will post 4.97 EPS for the current fiscal year.

Hamilton Lane Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, October 6th. Investors 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 1.5%. Hamilton Lane's dividend payout ratio is 41.54%.

Wall Street Analysts Forecast Growth

A number of analysts recently issued reports on HLNE shares. JPMorgan Chase & Co. lowered their price target on shares of Hamilton Lane from $153.00 to $145.00 and set a "neutral" rating on the stock in a report on Wednesday, July 23rd. Keefe, Bruyette & Woods increased their price target on shares of Hamilton Lane from $160.00 to $168.00 and gave the stock a "market perform" rating in a report on Wednesday, August 6th. Wall Street Zen raised shares of Hamilton Lane from a "sell" rating to a "hold" rating in a report on Saturday, August 9th. Finally, Wells Fargo & Company increased 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. Six analysts have rated the stock with a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, Hamilton Lane has an average rating of "Reduce" and a consensus price target of $163.14.

Hedge Funds Weigh In On Hamilton Lane

Several hedge funds and other institutional investors have recently added to or reduced their stakes in HLNE. Kayne Anderson Rudnick Investment Management LLC purchased a new position in Hamilton Lane during the first quarter valued at $432,772,000. Champlain Investment Partners LLC purchased a new position in Hamilton Lane during the first quarter valued at $112,887,000. T. Rowe Price Investment Management Inc. lifted its holdings in Hamilton Lane by 63.4% during the first quarter. T. Rowe Price Investment Management Inc. now owns 1,275,000 shares of the company's stock valued at $189,555,000 after purchasing an additional 494,637 shares in the last quarter. Norges Bank purchased a new position in Hamilton Lane during the second quarter valued at $46,641,000. Finally, Nuveen LLC purchased a new position in shares of Hamilton Lane in the first quarter worth about $24,334,000. 97.40% of the stock is owned by hedge funds and other institutional investors.

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.