Fred Alger Management LLC Raises Holdings in Hamilton Lane Inc. $HLNE

Fred Alger Management LLC lifted its holdings in shares of Hamilton Lane Inc. (NASDAQ:HLNE) by 29.8% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 261,525 shares of the company’s stock after buying an additional 59,976 shares during the period. Fred Alger Management LLC’s holdings in Hamilton Lane were worth $35,245,000 at the end of the most recent reporting period.

A number of other large investors have also modified their holdings of the business. &PARTNERS raised its stake in shares of Hamilton Lane by 6.8% during the 4th quarter. &PARTNERS now owns 20,572 shares of the company’s stock worth $2,763,000 after buying an additional 1,310 shares in the last quarter. ExodusPoint Capital Management LP raised its stake in shares of Hamilton Lane by 394.8% during the 4th quarter. ExodusPoint Capital Management LP now owns 48,584 shares of the company’s stock worth $6,525,000 after buying an additional 38,766 shares in the last quarter. Squarepoint Ops LLC raised its stake in shares of Hamilton Lane by 129.5% during the 4th quarter. Squarepoint Ops LLC now owns 123,001 shares of the company’s stock worth $16,520,000 after buying an additional 69,410 shares in the last quarter. Vanguard Personalized Indexing Management LLC grew its holdings in shares of Hamilton Lane by 22.3% in the 4th quarter. Vanguard Personalized Indexing Management LLC now owns 3,089 shares of the company’s stock worth $415,000 after acquiring an additional 563 shares during the period. Finally, MML Investors Services LLC grew its holdings in shares of Hamilton Lane by 9.6% in the 4th quarter. MML Investors Services LLC now owns 5,497 shares of the company’s stock worth $738,000 after acquiring an additional 480 shares during the period. 97.40% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several research firms have recently issued reports on HLNE. JPMorgan Chase & Co. decreased their price objective on Hamilton Lane from $166.00 to $148.00 and set an “overweight” rating on the stock in a report on Monday, May 18th. Keefe, Bruyette & Woods reaffirmed an “outperform” rating on shares of Hamilton Lane in a research report on Friday, May 22nd. Weiss Ratings restated a “hold (c)” rating on shares of Hamilton Lane in a research note on Wednesday, June 3rd. Morgan Stanley cut their price target on Hamilton Lane from $159.00 to $141.00 and set an “equal weight” rating on the stock in a report on Tuesday, April 21st. Finally, UBS Group dropped their price target on Hamilton Lane from $184.00 to $150.00 and set a “buy” rating on the stock in a report on Friday, February 20th. Six research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the stock. According to data from MarketBeat, Hamilton Lane currently has an average rating of “Moderate Buy” and a consensus price target of $150.00.

Hamilton Lane Stock Up 6.4%

Hamilton Lane stock opened at $87.22 on Wednesday. The stock has a market capitalization of $4.84 billion, a price-to-earnings ratio of 14.76 and a beta of 1.15. The stock has a 50-day simple moving average of $90.55 and a 200 day simple moving average of $112.58. Hamilton Lane Inc. has a 12-month low of $75.93 and a 12-month high of $161.13.

Hamilton Lane (NASDAQ:HLNE) last issued its quarterly earnings results on Thursday, May 21st. The company reported $1.49 EPS for the quarter, topping the consensus estimate of $1.43 by $0.06. Hamilton Lane had a net margin of 32.83% and a return on equity of 25.98%. The firm had revenue of $193.57 million for the quarter, compared to analysts’ expectations of $203.05 million. During the same period in the previous year, the firm posted $1.21 EPS. The company’s revenue for the quarter was down 2.2% on a year-over-year basis. As a group, sell-side analysts anticipate that Hamilton Lane Inc. will post 6.33 EPS for the current year.

Hamilton Lane Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, July 7th. Investors of record on Thursday, June 18th will be issued a dividend of $0.60 per share. This represents a $2.40 dividend on an annualized basis and a dividend yield of 2.8%. 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. Hamilton Lane’s payout ratio is presently 40.61%.

Hamilton Lane declared that its Board of Directors has approved a stock buyback program on Thursday, May 21st that allows the company to buyback $100.00 million in outstanding shares. This buyback authorization allows the company to purchase up to 2% of its shares through open market purchases. Shares buyback programs are typically a sign that the company’s management believes its shares are undervalued.

Insider Buying and Selling

In other Hamilton Lane news, COO Andrea Anigati Kramer bought 1,283 shares of the firm’s stock in a transaction that occurred on Thursday, June 11th. The shares were acquired at an average cost of $77.46 per share, with a total value of $99,381.18. Following the acquisition, the chief operating officer owned 87,350 shares of the company’s stock, valued at $6,766,131. The trade was a 1.49% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Chairman Hartley R. Rogers bought 55,000 shares of the firm’s stock in a transaction that occurred on Tuesday, May 26th. The shares were acquired at an average cost of $90.05 per share, for a total transaction of $4,952,750.00. Following the completion of the acquisition, the chairman directly owned 55,000 shares in the company, valued at $4,952,750. The trade was a ? increase in their position. The SEC filing for this purchase provides additional information. Insiders have purchased a total of 95,039 shares of company stock worth $8,100,739 over the last three months. 22.21% of the stock is owned by insiders.

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.