Financial Advocates Investment Management Makes New $332,000 Investment in Hamilton Lane Inc. $HLNE

Financial Advocates Investment Management bought a new stake in Hamilton Lane Inc. (NASDAQ:HLNE) in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm bought 2,334 shares of the company’s stock, valued at approximately $332,000.

A number of other institutional investors and hedge funds also recently made changes to their positions in the company. Envestnet Portfolio Solutions Inc. increased its position in Hamilton Lane by 116.7% in the second quarter. Envestnet Portfolio Solutions Inc. now owns 4,144 shares of the company’s stock worth $589,000 after purchasing an additional 2,232 shares during the period. Maryland State Retirement & Pension System bought a new position in shares of Hamilton Lane in the 2nd quarter valued at about $276,000. DAVENPORT & Co LLC acquired a new stake in shares of Hamilton Lane during the 2nd quarter worth approximately $211,000. 111 Capital acquired a new stake in shares of Hamilton Lane during the 2nd quarter worth approximately $528,000. Finally, Impact Capital Partners LLC bought a new stake in shares of Hamilton Lane during the second quarter worth approximately $395,000. Institutional investors own 97.40% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts have issued reports on the stock. Wall Street Zen raised shares of Hamilton Lane from a “sell” rating to a “hold” rating in a research note on Sunday, November 9th. BMO Capital Markets assumed coverage on Hamilton Lane in a research note on Friday, October 3rd. They issued an “outperform” rating and a $150.00 price target on the stock. Keefe, Bruyette & Woods lifted their price objective on Hamilton Lane from $150.00 to $158.00 and gave the stock an “outperform” rating in a research note on Thursday, November 6th. Oppenheimer set a $181.00 price objective on Hamilton Lane and gave the company an “outperform” rating in a report on Tuesday, October 14th. Finally, Morgan Stanley cut their target price on Hamilton Lane from $169.00 to $154.00 and set an “equal weight” rating on the stock in a research note on Tuesday, October 21st. One equities research analyst has rated the stock with a Strong Buy rating, three have given a Buy rating and five have given a Hold rating to the stock. Based on data from MarketBeat, Hamilton Lane presently has a consensus rating of “Moderate Buy” and a consensus price target of $159.29.

Hamilton Lane Price Performance

Shares of HLNE stock opened at $122.41 on Friday. 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 Inc. has a 12-month low of $111.98 and a 12-month high of $200.79. The firm has a fifty day moving average of $126.10 and a 200-day moving average of $143.44. The firm has a market capitalization of $6.83 billion, a price-to-earnings ratio of 23.54 and a beta of 1.23.

Hamilton Lane (NASDAQ:HLNE) last posted its earnings results on Tuesday, November 4th. The company reported $1.54 earnings per share for the quarter, topping the consensus estimate of $1.08 by $0.46. Hamilton Lane had a return on equity of 29.47% and a net margin of 30.66%.The firm had revenue of $190.88 million for the quarter, compared to analyst estimates of $171.86 million. On average, equities research analysts forecast that Hamilton Lane Inc. will post 4.97 earnings per share for the current year.

Hamilton Lane Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 7th. Investors of record on Friday, December 19th will be given a $0.54 dividend. The ex-dividend date is Friday, December 19th. This represents a $2.16 annualized dividend and a dividend yield of 1.8%. Hamilton Lane’s payout ratio is currently 39.13%.

Insider Buying and Selling

In related news, CEO Juan Delgado-Moreira bought 8,000 shares of the company’s stock in a transaction on Friday, November 7th. The shares were purchased at an average cost of $130.35 per share, for a total transaction of $1,042,800.00. Following the acquisition, the chief executive officer owned 1,314,447 shares of the company’s stock, valued at approximately $171,338,166.45. This represents a 0.61% increase in their position. The purchase was disclosed in a filing with the SEC, which can be accessed through this link. Also, major shareholder River 5 Ltd French sold 150,000 shares of the company’s stock in a transaction that occurred on Thursday, September 4th. The shares were sold at an average price of $146.51, for a total transaction of $21,976,500.00. Following the completion of the transaction, the insider owned 330,015 shares of the company’s stock, valued at $48,350,497.65. This trade represents a 31.25% decrease in their position. The SEC filing for this sale provides additional information. 22.21% of the stock is currently owned by corporate insiders.

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.