Hamilton Lane Inc. $HLNE Shares Acquired by Fred Alger Management LLC

by · The Cerbat Gem

Fred Alger Management LLC grew its holdings in shares of Hamilton Lane Inc. (NASDAQ:HLNE – Free Report) by 2.2% during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 624,844 shares of the company’s stock after buying an additional 13,319 shares during the period. Fred Alger Management LLC owned 1.13% of Hamilton Lane worth $93,202,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also made changes to their positions in the business. GAMMA Investing LLC raised its stake in Hamilton Lane by 65.8% during the 1st quarter. GAMMA Investing LLC now owns 920 shares of the company’s stock valued at $137,000 after acquiring an additional 365 shares in the last quarter. OneDigital Investment Advisors LLC acquired a new stake in Hamilton Lane in the first quarter worth about $225,000. Mirae Asset Global Investments Co. Ltd. lifted its holdings in Hamilton Lane by 12.5% in the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 9,773 shares of the company’s stock worth $1,437,000 after purchasing an additional 1,084 shares during the period. Wealth Enhancement Advisory Services LLC grew its position in Hamilton Lane by 6.6% in the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 3,414 shares of the company’s stock valued at $508,000 after buying an additional 212 shares in the last quarter. Finally, New York State Teachers Retirement System raised its position in shares of Hamilton Lane by 11.3% during the 1st quarter. New York State Teachers Retirement System now owns 7,880 shares of the company’s stock worth $1,172,000 after buying an additional 800 shares in the last quarter. 97.40% of the stock is currently owned by institutional investors and hedge funds.

Hamilton Lane Trading Down 0.6%

Shares of HLNE opened at $146.12 on Monday. The business’s 50-day moving average price is $152.23 and its 200 day moving average price is $150.71. The company has a current ratio of 4.32, a quick ratio of 4.32 and a debt-to-equity ratio of 0.29. The stock has a market capitalization of $8.14 billion, a P/E ratio of 28.10 and a beta of 1.26. Hamilton Lane Inc. has a 1-year low of $124.10 and a 1-year high of $203.72.

Hamilton Lane (NASDAQ:HLNE – Get Free Report) last posted its quarterly earnings data on Tuesday, August 5th. The company reported $1.31 EPS for the quarter, topping analysts’ consensus estimates of $0.98 by $0.33. The firm had revenue of $196.73 million during the quarter, compared to analyst estimates of $166.96 million. Hamilton Lane had a net margin of 30.66% and a return on equity of 29.47%. The company’s revenue was up 11.8% on a year-over-year basis. During the same quarter last year, the business posted $1.47 EPS. Analysts expect that Hamilton Lane Inc. will post 4.97 earnings per share for the current year.

Hamilton Lane Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, October 6th. Shareholders of record on Friday, September 19th will be given a dividend of $0.54 per share. The ex-dividend date is Friday, September 19th. This represents a $2.16 dividend on an annualized basis and a yield of 1.5%. Hamilton Lane’s dividend payout ratio (DPR) is presently 41.54%.

Wall Street Analyst Weigh In

Several research analysts have recently issued reports on HLNE shares. JPMorgan Chase & Co. decreased their price objective on shares of Hamilton Lane from $153.00 to $145.00 and set a “neutral” rating for the company in a report on Wednesday, July 23rd. Wall Street Zen upgraded Hamilton Lane from a “sell” rating to a “hold” rating in a research report on Saturday, August 9th. Oppenheimer lowered Hamilton Lane from an “outperform” rating to a “market perform” rating in a research note on Thursday, May 15th. Keefe, Bruyette & Woods lifted their price target on Hamilton Lane from $160.00 to $168.00 and gave the company a “market perform” rating in a research report on Wednesday, August 6th. Finally, Wells Fargo & Company boosted their price objective on Hamilton Lane from $161.00 to $162.00 and gave the stock an “equal weight” rating in a research note on Friday, July 11th. Six analysts have rated the stock with a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, Hamilton Lane has an average rating of “Reduce” and an average price target of $163.14.

Check Out Our Latest Stock Report on Hamilton Lane

Hamilton Lane Company Profile

(Free Report)

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.

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