Hamilton Lane (NASDAQ:HLNE) Sets New 52-Week High Following Earnings Beat

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. The stock had previously closed at $180.24.

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

Hamilton Lane Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, January 7th. Stockholders 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 dividend on an annualized basis and a dividend yield of 1.03%. Hamilton Lane’s dividend payout ratio is presently 45.06%.

Analysts Set New Price Targets

A number of research analysts recently weighed in on the stock. UBS Group increased their price objective on shares of Hamilton Lane from $150.00 to $185.00 and gave the company a “neutral” rating in a research report on Tuesday, October 22nd. The Goldman Sachs Group raised their price target on Hamilton Lane from $139.00 to $147.00 and gave the stock a “neutral” rating in a research note on Thursday, October 3rd. Wells Fargo & Company boosted their price target on Hamilton Lane from $156.00 to $170.00 and gave the company an “equal weight” rating in a research note on Wednesday, October 9th. Morgan Stanley increased their price objective on shares of Hamilton Lane from $140.00 to $182.00 and gave the stock an “equal weight” rating in a research note on Thursday, October 10th. Finally, JPMorgan Chase & Co. boosted their target price on shares of Hamilton Lane from $134.00 to $175.00 and gave the company a “neutral” rating in a research report on Thursday. Seven investment analysts have rated the stock with a hold rating, Based on data from MarketBeat.com, Hamilton Lane currently has a consensus rating of “Hold” and an average price target of $179.00.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in HLNE. BNP Paribas Financial Markets increased its holdings in Hamilton Lane by 25.6% in the 1st quarter. BNP Paribas Financial Markets now owns 27,218 shares of the company’s stock worth $3,069,000 after acquiring an additional 5,549 shares in the last quarter. Janney Montgomery Scott LLC raised its position in shares of Hamilton Lane by 14.5% during the 1st quarter. Janney Montgomery Scott LLC now owns 4,522 shares of the company’s stock valued at $510,000 after purchasing an additional 571 shares during the period. BI Asset Management Fondsmaeglerselskab A S purchased a new position in shares of Hamilton Lane during the 1st quarter valued at $134,000. Quantbot Technologies LP bought a new position in Hamilton Lane in the 1st quarter worth $1,201,000. Finally, SG Americas Securities LLC purchased a new stake in Hamilton Lane in the 1st quarter worth $538,000. Institutional investors own 97.40% of the company’s stock.

Hamilton Lane Trading Down 1.7 %

The stock has a fifty day simple moving average of $168.40 and a 200 day simple moving average of $142.01. The firm has a market capitalization of $10.27 billion, a P/E 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.

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.