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

Hamilton Lane Incorporated (NASDAQ:HLNE) shares gapped up before the market opened on Tuesday following a better than expected earnings announcement. 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%. The business had revenue of $168.26 million during the quarter, compared to analysts’ expectations of $158.86 million. During the same quarter in the prior year, the company posted $0.71 EPS. The firm’s revenue for the quarter was up 34.3% compared to the same quarter last year.

Hamilton Lane Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, April 4th. Investors of record on Friday, March 14th will be paid a $0.49 dividend. This represents a $1.96 dividend on an annualized basis and a yield of 1.15%. The ex-dividend date is Friday, March 14th. Hamilton Lane’s payout ratio is 42.52%.

Analysts Set New Price Targets

HLNE has been the topic of several research reports. Oppenheimer raised Hamilton Lane from a “market perform” rating to an “outperform” rating and set a $186.00 price objective on the stock in a research report on Tuesday, January 21st. The Goldman Sachs Group cut shares of Hamilton Lane from a “neutral” rating to a “sell” rating and set a $139.00 price target on the stock. in a report on Monday, January 6th. JPMorgan Chase & Co. boosted their target price on Hamilton Lane from $134.00 to $175.00 and gave the stock a “neutral” rating in a research report on Thursday, November 7th. Wells Fargo & Company increased their price target on Hamilton Lane from $163.00 to $169.00 and gave the company an “equal weight” rating in a report on Wednesday. Finally, Morgan Stanley raised their price objective on shares of Hamilton Lane from $182.00 to $190.00 and gave the stock an “equal weight” rating in a report on Monday, November 11th. One research analyst has rated the stock with a sell rating, five have given a hold rating and one has issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $173.14.

Institutional Trading of Hamilton Lane

Several institutional investors and hedge funds have recently added to or reduced their stakes in HLNE. AQR Capital Management LLC grew its holdings in shares of Hamilton Lane by 3.7% in the second quarter. AQR Capital Management LLC now owns 8,979 shares of the company’s stock valued at $1,110,000 after purchasing an additional 322 shares in the last quarter. The Manufacturers Life Insurance Company increased its stake in Hamilton Lane by 8.4% in the second quarter. The Manufacturers Life Insurance Company now owns 23,265 shares of the company’s stock worth $2,875,000 after purchasing an additional 1,810 shares during the period. Truist Financial Corp boosted its position in Hamilton Lane by 6.8% in the 2nd quarter. Truist Financial Corp now owns 12,477 shares of the company’s stock valued at $1,542,000 after buying an additional 790 shares during the period. Sanctuary Advisors LLC purchased a new position in Hamilton Lane during the 2nd quarter worth $824,000. Finally, Handelsbanken Fonder AB lifted its stake in Hamilton Lane by 75.4% in the third quarter. Handelsbanken Fonder AB now owns 11,400 shares of the company’s stock worth $1,920,000 after acquiring an additional 4,900 shares during the period. Institutional investors own 97.40% of the company’s stock.

Hamilton Lane Trading Up 5.4 %

The stock has a market capitalization of $9.43 billion, a P/E ratio of 36.92 and a beta of 1.25. 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 stock’s 50 day moving average price is $160.06 and its 200-day moving average price is $162.80.

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.