Hamilton Lane Inc. (HLNE) Hits New 1-Year High Following Better-Than-Expected Earnings
Hamilton Lane Inc. (NASDAQ:HLNE)’s share price hit a new 52-week high on Tuesday following a better than expected earnings announcement. The company traded as high as $28.71 and last traded at $27.33, with a volume of 348600 shares traded. The stock had previously closed at $28.16.
The company reported $0.27 EPS for the quarter, topping the Zacks’ consensus estimate of $0.26 by $0.01. The business had revenue of $51.20 million during the quarter, compared to the consensus estimate of $48.64 million. Hamilton Lane’s revenue for the quarter was up 5.1% on a year-over-year basis.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, January 5th. Investors of record on Friday, December 15th will be issued a $0.175 dividend. This represents a $0.70 annualized dividend and a dividend yield of 2.28%. The ex-dividend date is Thursday, December 14th. Hamilton Lane’s payout ratio is currently -137.25%.
HLNE has been the subject of several research analyst reports. Morgan Stanley lowered Hamilton Lane from an “overweight” rating to an “equal weight” rating and lifted their price objective for the stock from $25.00 to $28.00 in a report on Thursday, October 5th. Zacks Investment Research lowered Hamilton Lane from a “buy” rating to a “hold” rating in a report on Tuesday, September 12th. Finally, Keefe, Bruyette & Woods reaffirmed a “hold” rating and issued a $24.00 price objective on shares of Hamilton Lane in a report on Thursday, September 28th. Five research analysts have rated the stock with a hold rating and one has issued a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and an average price target of $24.00.
Institutional investors and hedge funds have recently modified their holdings of the stock. Wells Fargo & Company MN bought a new stake in shares of Hamilton Lane in the first quarter worth $131,000. Nationwide Fund Advisors grew its holdings in shares of Hamilton Lane by 84.5% in the second quarter. Nationwide Fund Advisors now owns 8,099 shares of the company’s stock worth $178,000 after acquiring an additional 3,710 shares during the period. The Manufacturers Life Insurance Company bought a new stake in shares of Hamilton Lane in the second quarter worth $252,000. First Trust Advisors LP bought a new stake in shares of Hamilton Lane in the third quarter worth $286,000. Finally, Rhumbline Advisers bought a new stake in shares of Hamilton Lane in the second quarter worth $297,000. 27.08% of the stock is owned by institutional investors.
The company has a current ratio of 1.12, a quick ratio of 1.12 and a debt-to-equity ratio of 0.86.
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About Hamilton Lane
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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