Hamilton Lane (NASDAQ:HLNE) Sets New 12-Month High After Strong Earnings

Hamilton Lane Incorporated (NASDAQ:HLNE)’s share price reached a new 52-week high on Wednesday following a better than expected earnings announcement. The stock traded as high as $192.97 and last traded at $192.97, with a volume of 1638 shares trading hands. The stock had previously closed at $180.24.

The company reported $1.07 EPS for the quarter, topping the consensus estimate of $1.06 by $0.01. The business had revenue of $150.00 million for the quarter, compared to analysts’ expectations of $151.55 million. Hamilton Lane had a net margin of 26.99% and a return on equity of 34.36%. The business’s quarterly revenue was up 18.2% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.89 EPS.

Hamilton Lane Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, January 7th. Shareholders of record on Monday, December 16th will be issued a dividend of $0.49 per share. This represents a $1.96 annualized dividend and a yield of 1.03%. The ex-dividend date is Monday, December 16th. Hamilton Lane’s dividend payout ratio is presently 45.06%.

Wall Street Analysts Forecast Growth

HLNE has been the subject of a number of recent research reports. Wells Fargo & Company raised their target price on shares of Hamilton Lane from $156.00 to $170.00 and gave the company an “equal weight” rating in a report on Wednesday, October 9th. Morgan Stanley boosted their target price on shares of Hamilton Lane from $140.00 to $182.00 and gave the stock an “equal weight” rating in a report on Thursday, October 10th. UBS Group increased their price target on shares of Hamilton Lane from $150.00 to $185.00 and gave the company a “neutral” rating in a report on Tuesday, October 22nd. Keefe, Bruyette & Woods boosted their price objective on Hamilton Lane from $181.00 to $215.00 and gave the stock a “market perform” rating in a research note on Thursday. Finally, JPMorgan Chase & Co. raised their price objective on Hamilton Lane from $134.00 to $175.00 and gave the company a “neutral” rating in a research note on Thursday. Seven investment analysts have rated the stock with a hold rating, According to data from MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $179.00.

Hedge Funds Weigh In On Hamilton Lane

Several hedge funds have recently bought and sold shares of the business. Covestor Ltd boosted its stake in shares of Hamilton Lane by 14,900.0% during the first quarter. Covestor Ltd now owns 300 shares of the company’s stock valued at $34,000 after purchasing an additional 298 shares during the period. Quarry LP increased its holdings in Hamilton Lane by 316.2% during the 2nd quarter. Quarry LP now owns 308 shares of the company’s stock worth $38,000 after purchasing an additional 234 shares during the period. CWM LLC raised its position in Hamilton Lane by 24.7% during the 3rd quarter. CWM LLC now owns 505 shares of the company’s stock valued at $85,000 after purchasing an additional 100 shares in the last quarter. Signaturefd LLC lifted its holdings in shares of Hamilton Lane by 13.1% in the 2nd quarter. Signaturefd LLC now owns 629 shares of the company’s stock worth $78,000 after buying an additional 73 shares during the period. Finally, GAMMA Investing LLC grew its position in shares of Hamilton Lane by 32.4% during the 3rd quarter. GAMMA Investing LLC now owns 637 shares of the company’s stock worth $107,000 after buying an additional 156 shares in the last quarter. Institutional investors own 97.40% of the company’s stock.

Hamilton Lane Stock Performance

The company has a quick ratio of 2.72, a current ratio of 2.72 and a debt-to-equity ratio of 0.27. The firm has a 50 day moving average price of $168.40 and a 200 day moving average price of $142.01. The stock has a market cap of $10.27 billion, a PE ratio of 43.54 and a beta of 1.18.

Hamilton Lane Company Profile

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.