Hamilton Lane (NASDAQ:HLNE) Sets New 12-Month High – Here’s What Happened

Hamilton Lane Incorporated (NASDAQ:HLNE) shares hit a new 52-week high during trading on Monday . The company traded as high as $182.16 and last traded at $182.16, with a volume of 189448 shares trading hands. The stock had previously closed at $177.85.

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on HLNE shares. The Goldman Sachs Group lifted their price objective on shares of Hamilton Lane from $139.00 to $147.00 and gave the company a “neutral” rating in a research report on Thursday, October 3rd. Keefe, Bruyette & Woods lifted their price objective on shares of Hamilton Lane from $135.00 to $145.00 and gave the company a “market perform” rating in a research report on Wednesday, August 7th. UBS Group lifted 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. Wells Fargo & Company lifted their target price on shares of Hamilton Lane from $156.00 to $170.00 and gave the stock an “equal weight” rating in a report on Wednesday, October 9th. Finally, JPMorgan Chase & Co. lifted their target price on shares of Hamilton Lane from $120.00 to $134.00 and gave the stock a “neutral” rating in a report on Wednesday, August 7th. Seven investment analysts have rated the stock with a hold rating, According to data from MarketBeat.com, Hamilton Lane currently has an average rating of “Hold” and a consensus target price of $160.50.

Hamilton Lane Stock Down 0.3 %

The firm’s 50-day moving average price is $163.75 and its 200 day moving average price is $138.85. The company has a market capitalization of $9.84 billion, a price-to-earnings ratio of 49.57 and a beta of 1.19. The company has a current ratio of 2.72, a quick ratio of 2.72 and a debt-to-equity ratio of 0.27.

Hamilton Lane (NASDAQ:HLNE) last issued its earnings results on Tuesday, August 6th. The company reported $1.51 EPS for the quarter, beating the consensus estimate of $1.10 by $0.41. The company had revenue of $196.73 million during the quarter, compared to analysts’ expectations of $149.84 million. Hamilton Lane had a net margin of 26.99% and a return on equity of 34.36%. During the same period in the previous year, the company earned $0.94 EPS. On average, sell-side analysts forecast that Hamilton Lane Incorporated will post 4.9 EPS for the current fiscal year.

Hamilton Lane Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, October 4th. Investors of record on Monday, September 16th were issued a dividend of $0.49 per share. This represents a $1.96 annualized dividend and a dividend yield of 1.08%. The ex-dividend date was Monday, September 16th. Hamilton Lane’s dividend payout ratio (DPR) is presently 53.12%.

Institutional Investors Weigh In On Hamilton Lane

Several hedge funds and other institutional investors have recently made changes to their positions in HLNE. Amalgamated Bank grew its holdings in Hamilton Lane by 1,338.8% during the 3rd quarter. Amalgamated Bank now owns 18,474 shares of the company’s stock worth $3,111,000 after acquiring an additional 17,190 shares during the last quarter. Van ECK Associates Corp lifted its stake in shares of Hamilton Lane by 40.0% in the third quarter. Van ECK Associates Corp now owns 25,256 shares of the company’s stock valued at $4,436,000 after buying an additional 7,216 shares in the last quarter. Harbor Capital Advisors Inc. lifted its stake in shares of Hamilton Lane by 48.5% in the third quarter. Harbor Capital Advisors Inc. now owns 27,816 shares of the company’s stock valued at $4,684,000 after buying an additional 9,079 shares in the last quarter. Janney Montgomery Scott LLC lifted its stake in shares of Hamilton Lane by 3.6% in the third quarter. Janney Montgomery Scott LLC now owns 4,814 shares of the company’s stock valued at $811,000 after buying an additional 168 shares in the last quarter. Finally, New York State Common Retirement Fund lifted its stake in shares of Hamilton Lane by 70.6% in the third quarter. New York State Common Retirement Fund now owns 132,155 shares of the company’s stock valued at $22,254,000 after buying an additional 54,677 shares in the last quarter. 97.40% of the stock is owned by institutional investors.

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.