Stock Buyback Program Authorized by Hamilton Lane (NASDAQ:HLNE) Board of Directors

Hamilton Lane (NASDAQ:HLNEGet Free Report) announced that its board has initiated a stock repurchase plan on Thursday, May 21st, RTT News reports. The company plans to buyback $100.00 million in outstanding shares. This buyback authorization authorizes the company to buy up to 2% of its stock through open market purchases. Stock buyback plans are usually an indication that the company’s board of directors believes its stock is undervalued.

Wall Street Analysts Forecast Growth

HLNE has been the subject of a number of research reports. BMO Capital Markets dropped their target price on shares of Hamilton Lane from $108.00 to $102.00 and set an “outperform” rating for the company in a research report on Friday. UBS Group cut their price objective on Hamilton Lane from $184.00 to $150.00 and set a “buy” rating on the stock in a research report on Friday, February 20th. Zacks Research downgraded Hamilton Lane from a “strong-buy” rating to a “hold” rating in a research report on Monday, April 6th. 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. Finally, Keefe, Bruyette & Woods restated an “outperform” rating on shares of Hamilton Lane in a report on Friday. Six equities research analysts have rated the stock with a Buy rating and four have given a Hold rating to the company. Based on data from MarketBeat, Hamilton Lane presently has a consensus rating of “Moderate Buy” and an average target price of $150.00.

Read Our Latest Analysis on HLNE

Hamilton Lane Trading Up 2.0%

Shares of NASDAQ HLNE traded up $1.73 during trading hours on Friday, reaching $90.32. The stock had a trading volume of 988,472 shares, compared to its average volume of 1,029,547. Hamilton Lane has a 52-week low of $82.68 and a 52-week high of $179.19. The firm has a market cap of $5.04 billion, a price-to-earnings ratio of 15.28 and a beta of 1.18. The business’s fifty day moving average price is $95.39 and its two-hundred day moving average price is $117.65. The company has a current ratio of 3.64, a quick ratio of 3.27 and a debt-to-equity ratio of 0.19.

Hamilton Lane (NASDAQ:HLNEGet Free Report) last issued its earnings results on Thursday, May 21st. The company reported $1.49 earnings per share for the quarter, beating analysts’ consensus estimates of $1.43 by $0.06. Hamilton Lane had a return on equity of 25.98% and a net margin of 32.83%.The business had revenue of $193.57 million during the quarter, compared to analyst estimates of $203.05 million. During the same period in the previous year, the company posted $1.21 EPS. Hamilton Lane’s revenue was down 2.2% on a year-over-year basis. Analysts expect that Hamilton Lane will post 6.39 EPS for the current fiscal year.

Hamilton Lane Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, July 7th. Stockholders of record on Thursday, June 18th will be issued a $0.60 dividend. The ex-dividend date is Thursday, June 18th. This represents a $2.40 annualized dividend and a dividend yield of 2.7%. This is an increase from Hamilton Lane’s previous quarterly dividend of $0.54. Hamilton Lane’s dividend payout ratio (DPR) is presently 38.78%.

Hamilton Lane News Summary

Here are the key news stories impacting Hamilton Lane this week:

Hamilton Lane Company Profile

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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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