Hamilton Lane Inc. (HLNE) Issues Earnings Results
Hamilton Lane Inc. (NASDAQ:HLNE) posted its quarterly earnings data on Tuesday. The company reported $0.33 earnings per share for the quarter, topping analysts’ consensus estimates of $0.26 by $0.07, Bloomberg Earnings reports. The company had revenue of $52.70 million for the quarter, compared to analyst estimates of $50.69 million. During the same period in the previous year, the business posted $0.30 earnings per share. The firm’s revenue was up 33.2% compared to the same quarter last year.
Shares of Hamilton Lane (NASDAQ:HLNE) traded up 0.378% during trading on Wednesday, hitting $22.565. The stock had a trading volume of 158,183 shares. The firm’s 50-day moving average is $22.10 and its 200-day moving average is $20.18. The firm has a market cap of $434.74 million and a P/E ratio of 752.167. Hamilton Lane has a one year low of $17.32 and a one year high of $24.00.
The firm also recently announced a quarterly dividend, which will be paid on Monday, October 2nd. Stockholders of record on Friday, September 15th will be paid a dividend of $0.175 per share. This represents a $0.70 dividend on an annualized basis and a dividend yield of 3.11%. The ex-dividend date of this dividend is Thursday, September 14th.
A number of brokerages have recently issued reports on HLNE. Keefe, Bruyette & Woods reissued a “hold” rating and set a $21.00 target price on shares of Hamilton Lane in a research note on Friday, April 28th. Zacks Investment Research downgraded Hamilton Lane from a “buy” rating to a “hold” rating in a research note on Tuesday, July 11th. Finally, Morgan Stanley reissued an “overweight” rating and set a $23.00 target price (up from $21.00) on shares of Hamilton Lane in a research note on Friday, June 16th. Four investment analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and an average target price of $21.80.
Large investors have recently added to or reduced their stakes in the company. Royce & Associates LP increased its stake in Hamilton Lane by 7.1% in the second quarter. Royce & Associates LP now owns 161,716 shares of the company’s stock worth $3,556,000 after buying an additional 10,788 shares during the period. Marshall Wace North America L.P. increased its stake in Hamilton Lane by 151.5% in the second quarter. Marshall Wace North America L.P. now owns 80,770 shares of the company’s stock worth $1,777,000 after buying an additional 48,658 shares during the period. Bank of New York Mellon Corp purchased a new stake in Hamilton Lane during the second quarter worth $943,000. Rhumbline Advisers purchased a new stake in Hamilton Lane during the second quarter worth $297,000. Finally, Schwab Charles Investment Management Inc. purchased a new stake in Hamilton Lane during the second quarter worth $1,137,000. Hedge funds and other institutional investors own 61.74% of the company’s stock.
Hamilton Lane Company Profile
Hamilton Lane Incorporated is a global private markets investment solutions provider. The Company works with its clients to conceive, structure, build out, manage and monitor portfolios of private markets funds and direct investments, and it helps them access a set of such investment opportunities around the world.
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