Hartley Rogers Buys 38,290 Shares of Hamilton Lane (NASDAQ:HLNE) Stock

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

Hamilton Lane Price Performance

NASDAQ HLNE opened at $87.22 on Wednesday. Hamilton Lane Inc. has a 1 year low of $75.93 and a 1 year high of $161.13. The firm has a market cap of $4.84 billion, a price-to-earnings ratio of 14.76 and a beta of 1.15. The company has a fifty day moving average price of $90.55 and a 200-day moving average price of $112.58.

Hamilton Lane (NASDAQ:HLNE) last posted its earnings results on Thursday, May 21st. The company reported $1.49 earnings per share (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 during the quarter, compared to analyst estimates of $203.05 million. During the same quarter in the prior year, the business posted $1.21 EPS. The business’s revenue was down 2.2% compared to the same quarter last year. On average, research analysts anticipate that Hamilton Lane Inc. will post 6.33 EPS for the current fiscal year.

Hamilton Lane Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, July 7th. Investors of record on Thursday, June 18th will be given a dividend of $0.60 per share. The ex-dividend date is Thursday, June 18th. This is an increase 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 dividend payout ratio (DPR) is currently 40.61%.

Hamilton Lane declared that its board has authorized a stock buyback plan on Thursday, May 21st that authorizes the company to buyback $100.00 million in shares. This buyback authorization authorizes the company to reacquire up to 2% of its stock through open market purchases. Stock buyback plans are typically an indication that the company’s board believes its shares are undervalued.

Institutional Investors Weigh In On Hamilton Lane

Institutional investors have recently added to or reduced their stakes in the business. Royal Bank of Canada lifted its holdings in shares of Hamilton Lane by 6.0% in the first quarter. Royal Bank of Canada now owns 52,466 shares of the company’s stock worth $7,800,000 after buying an additional 2,948 shares in the last quarter. Jones Financial Companies Lllp lifted its holdings in shares of Hamilton Lane by 4,806.7% in the first quarter. Jones Financial Companies Lllp now owns 5,103 shares of the company’s stock worth $759,000 after buying an additional 4,999 shares in the last quarter. Geneos Wealth Management Inc. lifted its holdings in shares of Hamilton Lane by 196.9% in the first quarter. Geneos Wealth Management Inc. now owns 383 shares of the company’s stock worth $57,000 after buying an additional 254 shares in the last quarter. First Trust Advisors LP lifted its holdings in shares of Hamilton Lane by 26.7% in the second quarter. First Trust Advisors LP now owns 31,483 shares of the company’s stock worth $4,474,000 after buying an additional 6,636 shares in the last quarter. Finally, Amundi lifted its holdings in shares of Hamilton Lane by 39,766.7% in the second quarter. Amundi now owns 2,392 shares of the company’s stock worth $347,000 after buying an additional 2,386 shares in the last quarter. 97.40% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several equities analysts recently weighed in on the stock. The Goldman Sachs Group set a $148.00 price target on shares of Hamilton Lane and gave the company a “buy” rating in a research report on Friday, May 22nd. Oppenheimer increased their price target on shares of Hamilton Lane from $171.00 to $179.00 and gave the company an “outperform” rating in a research report on Friday, May 22nd. BMO Capital Markets reduced their price target 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, May 22nd. Keefe, Bruyette & Woods restated an “outperform” rating on shares of Hamilton Lane in a research report on Friday, May 22nd. Finally, Morgan Stanley reduced their price target on shares of Hamilton Lane from $159.00 to $141.00 and set an “equal weight” rating for the company in a research report on Tuesday, April 21st. 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, the stock currently has an average rating of “Moderate Buy” and an average target price 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.