Wasatch Advisors LP Reduces Stake in Hamilton Lane Inc. $HLNE

Wasatch Advisors LP cut its stake in Hamilton Lane Inc. (NASDAQ:HLNE) by 34.3% in the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 1,151,560 shares of the company’s stock after selling 600,036 shares during the quarter. Wasatch Advisors LP’s holdings in Hamilton Lane were worth $90,777,000 as of its most recent SEC filing.

Several other institutional investors have also modified their holdings of the stock. Royal Bank of Canada grew 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 valued at $7,800,000 after purchasing an additional 2,948 shares during the period. Jones Financial Companies Lllp raised its stake in Hamilton Lane by 4,806.7% during the first quarter. Jones Financial Companies Lllp now owns 5,103 shares of the company’s stock worth $759,000 after purchasing an additional 4,999 shares during the period. Geneos Wealth Management Inc. boosted its holdings in Hamilton Lane by 196.9% in the 1st quarter. Geneos Wealth Management Inc. now owns 383 shares of the company’s stock valued at $57,000 after purchasing an additional 254 shares during the last quarter. First Trust Advisors LP boosted its holdings in Hamilton Lane by 26.7% in the 2nd quarter. First Trust Advisors LP now owns 31,483 shares of the company’s stock valued at $4,474,000 after purchasing an additional 6,636 shares during the last quarter. Finally, Amundi boosted its holdings in Hamilton Lane by 39,766.7% in the 2nd quarter. Amundi now owns 2,392 shares of the company’s stock valued at $347,000 after purchasing an additional 2,386 shares during the last quarter. Hedge funds and other institutional investors own 97.40% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts have recently issued reports on the stock. Morgan Stanley cut their price target on shares of Hamilton Lane from $141.00 to $123.00 and set an “equal weight” rating for the company in a report on Tuesday, July 21st. Weiss Ratings cut Hamilton Lane from a “hold (c)” rating to a “hold (c-)” rating in a report on Monday, July 20th. BMO Capital Markets set a $94.00 price objective on Hamilton Lane in a research report on Monday, July 13th. The Goldman Sachs Group cut their target price on Hamilton Lane from $148.00 to $128.00 and set a “buy” rating for the company in a research note on Tuesday, June 30th. Finally, UBS Group lifted their target price on Hamilton Lane from $114.00 to $131.00 and gave the company a “buy” rating in a research report on Wednesday, August 5th. One investment analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating and two have assigned a Hold rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $131.71.

Hamilton Lane Trading Up 4.5%

Shares of HLNE stock opened at $104.84 on Wednesday. Hamilton Lane Inc. has a 1-year low of $71.88 and a 1-year high of $161.13. The firm has a market cap of $5.82 billion, a PE ratio of 15.98 and a beta of 1.14. The company has a 50-day moving average of $84.31 and a two-hundred day moving average of $97.95. The company has a debt-to-equity ratio of 0.16, a current ratio of 3.49 and a quick ratio of 3.49.

Hamilton Lane (NASDAQ:HLNE) last released its quarterly earnings results on Tuesday, August 4th. The company reported $1.94 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.53 by $0.41. Hamilton Lane had a net margin of 32.14% and a return on equity of 25.10%. The business had revenue of $275.33 million for the quarter, compared to the consensus estimate of $221.94 million. During the same period in the previous year, the firm earned $1.47 EPS. The business’s revenue was up 56.5% on a year-over-year basis. On average, analysts predict that Hamilton Lane Inc. will post 6.95 EPS for the current year.

Hamilton Lane Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, October 6th. Shareholders of record on Monday, September 21st will be given a $0.60 dividend. The ex-dividend date of this dividend is Monday, September 21st. This represents a $2.40 dividend on an annualized basis and a yield of 2.3%. Hamilton Lane’s payout ratio is presently 36.59%.

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 shares. This repurchase authorization permits the company to repurchase up to 2% of its shares through open market purchases. Shares repurchase plans are generally an indication that the company’s board of directors believes its stock is undervalued.

Insider Buying and Selling

In other news, Chairman Hartley R. Rogers purchased 38,290 shares of the firm’s stock in a transaction on Thursday, June 11th. The shares were bought at an average cost of $78.49 per share, for a total transaction of $3,005,382.10. Following the completion of the purchase, the chairman directly owned 93,756 shares of the company’s stock, valued at approximately $7,358,908.44. This trade represents a 69.03% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, COO Andrea Anigati Kramer purchased 1,283 shares of the stock in a transaction dated Thursday, June 11th. The shares were purchased at an average price of $77.46 per share, with a total value of $99,381.18. Following the completion of the transaction, the chief operating officer owned 87,350 shares of the company’s stock, valued at approximately $6,766,131. This trade represents a 1.49% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. In the last three months, insiders acquired 95,039 shares of company stock worth $8,100,739. 23.99% of the stock is owned by corporate insiders.

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.