Hamilton Lane (NASDAQ:HLNE) Hits New 1-Year High Following Strong Earnings

Hamilton Lane Incorporated (NASDAQ:HLNE)’s share price reached a new 52-week high during trading on Wednesday following a stronger than expected earnings report. 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 earnings per share for the quarter, topping analysts’ consensus estimates of $1.06 by $0.01. Hamilton Lane had a return on equity of 34.36% and a net margin of 26.99%. The company had revenue of $150.00 million during the quarter, compared to analyst estimates of $151.55 million. During the same quarter in the prior year, the business earned $0.89 earnings per share. Hamilton Lane’s revenue was up 18.2% on a year-over-year basis.

Hamilton Lane Announces Dividend

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

Wall Street Analysts Forecast Growth

Several analysts have commented on HLNE shares. Wells Fargo & Company increased their price target on shares of Hamilton Lane from $156.00 to $170.00 and gave the company an “equal weight” rating in a research report on Wednesday, October 9th. UBS Group raised their target price on shares of Hamilton Lane from $150.00 to $185.00 and gave the company a “neutral” rating in a research note on Tuesday, October 22nd. Keefe, Bruyette & Woods increased their price objective on Hamilton Lane from $181.00 to $215.00 and gave the company a “market perform” rating in a report on Thursday. Morgan Stanley raised their price objective on Hamilton Lane from $140.00 to $182.00 and gave the stock an “equal weight” rating in a research report on Thursday, October 10th. Finally, The Goldman Sachs Group upped their target price on Hamilton Lane from $139.00 to $147.00 and gave the company a “neutral” rating in a research report on Thursday, October 3rd. Seven equities research analysts have rated the stock with a hold rating, Based on data from MarketBeat, Hamilton Lane has a consensus rating of “Hold” and a consensus price target of $179.00.

Institutional Trading of Hamilton Lane

Large investors have recently added to or reduced their stakes in the company. Covestor Ltd raised its stake in shares of Hamilton Lane by 14,900.0% in the first quarter. Covestor Ltd now owns 300 shares of the company’s stock worth $34,000 after purchasing an additional 298 shares during the last quarter. Quarry LP increased its holdings in Hamilton Lane by 316.2% in the 2nd quarter. Quarry LP now owns 308 shares of the company’s stock worth $38,000 after buying an additional 234 shares during the period. Signaturefd LLC raised its position in Hamilton Lane by 13.1% during 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 last quarter. CWM LLC lifted its stake 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 acquiring an additional 100 shares during the period. Finally, Fifth Third Bancorp boosted its holdings in shares of Hamilton Lane by 106.5% in the 2nd quarter. Fifth Third Bancorp now owns 694 shares of the company’s stock valued at $86,000 after acquiring an additional 358 shares during the last quarter. Hedge funds and other institutional investors own 97.40% of the company’s stock.

Hamilton Lane Price Performance

The stock’s 50 day moving average price is $168.40 and its two-hundred day moving average price is $142.01. The stock has a market cap of $10.27 billion, a price-to-earnings ratio of 43.54 and a beta of 1.18. The company has a quick ratio of 2.72, a current ratio of 2.72 and a debt-to-equity ratio of 0.27.

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.