Hamilton Lane (NASDAQ:HLNE) Shares Gap Up on Earnings Beat

Shares of Hamilton Lane Incorporated (NASDAQ:HLNE) gapped up before the market opened on Tuesday following a stronger than expected earnings report. The stock had previously closed at $158.00, but opened at $165.37. Hamilton Lane shares last traded at $164.22, with a volume of 45,993 shares trading hands.

The company reported $1.25 earnings per share for the quarter, beating the consensus estimate of $1.13 by $0.12. Hamilton Lane had a net margin of 28.03% and a return on equity of 35.59%.

Hamilton Lane Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, January 7th. Shareholders of record on Monday, December 16th were given a dividend of $0.49 per share. The ex-dividend date was Monday, December 16th. This represents a $1.96 dividend on an annualized basis and a dividend yield of 1.19%. Hamilton Lane’s dividend payout ratio (DPR) is 42.52%.

Analyst Upgrades and Downgrades

A number of analysts have commented on HLNE shares. UBS Group boosted their price target on shares of Hamilton Lane from $150.00 to $185.00 and gave the stock a “neutral” rating in a research report on Tuesday, October 22nd. JPMorgan Chase & Co. boosted their target price on shares of Hamilton Lane from $134.00 to $175.00 and gave the stock a “neutral” rating in a report on Thursday, November 7th. Keefe, Bruyette & Woods dropped their target price on shares of Hamilton Lane from $167.00 to $158.00 and set a “market perform” rating on the stock in a report on Monday, January 13th. The Goldman Sachs Group downgraded shares of Hamilton Lane from a “neutral” rating to a “sell” rating and set a $139.00 target price on the stock. in a report on Monday, January 6th. Finally, Wells Fargo & Company dropped their target price on shares of Hamilton Lane from $194.00 to $163.00 and set an “equal weight” rating on the stock in a report on Tuesday, January 14th. One analyst has rated the stock with a sell rating, five have issued a hold rating and one has assigned a buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $170.86.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in HLNE. FMR LLC grew its position in Hamilton Lane by 239.9% in the third quarter. FMR LLC now owns 5,557 shares of the company’s stock worth $936,000 after acquiring an additional 3,922 shares in the last quarter. Retirement Systems of Alabama bought a new stake in Hamilton Lane in the third quarter worth approximately $8,291,000. Icon Wealth Advisors LLC bought a new stake in Hamilton Lane in the third quarter worth approximately $819,000. Royce & Associates LP bought a new stake in Hamilton Lane in the third quarter worth approximately $538,000. Finally, Teachers Retirement System of The State of Kentucky grew its position in Hamilton Lane by 41.9% in the third quarter. Teachers Retirement System of The State of Kentucky now owns 20,914 shares of the company’s stock worth $3,522,000 after acquiring an additional 6,178 shares in the last quarter. 97.40% of the stock is owned by hedge funds and other institutional investors.

Hamilton Lane Price Performance

The company has a quick ratio of 3.37, a current ratio of 3.37 and a debt-to-equity ratio of 0.24. The company has a market capitalization of $9.15 billion, a P/E ratio of 35.69 and a beta of 1.25. The company’s 50-day simple moving average is $161.25 and its 200 day simple moving average is $162.60.

Hamilton Lane Company Profile

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.