First Mercantile Trust Co. grew its stake in Hamilton Lane Inc (NASDAQ:HLNE) by 383.1% during the 3rd quarter, Holdings Channel reports. The firm owned 5,720 shares of the company’s stock after purchasing an additional 4,536 shares during the quarter. First Mercantile Trust Co.’s holdings in Hamilton Lane were worth $326,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors also recently made changes to their positions in HLNE. Advisor Group Inc. grew its position in shares of Hamilton Lane by 578.4% in the second quarter. Advisor Group Inc. now owns 1,133 shares of the company’s stock valued at $65,000 after purchasing an additional 966 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank acquired a new stake in shares of Hamilton Lane in the second quarter valued at about $78,000. Bank of Montreal Can acquired a new stake in shares of Hamilton Lane in the second quarter valued at about $110,000. SG Americas Securities LLC grew its position in shares of Hamilton Lane by 29.9% in the second quarter. SG Americas Securities LLC now owns 3,264 shares of the company’s stock valued at $186,000 after purchasing an additional 752 shares during the period. Finally, GSA Capital Partners LLP acquired a new stake in shares of Hamilton Lane in the second quarter valued at about $229,000. Institutional investors and hedge funds own 47.10% of the company’s stock.
NASDAQ:HLNE opened at $55.41 on Friday. The company’s 50-day moving average price is $57.96 and its 200-day moving average price is $56.05. The company has a current ratio of 2.68, a quick ratio of 2.35 and a debt-to-equity ratio of 0.39. The company has a market cap of $2.91 billion, a P/E ratio of 29.01, a P/E/G ratio of 1.87 and a beta of 0.96. Hamilton Lane Inc has a twelve month low of $32.43 and a twelve month high of $64.64.
Hamilton Lane (NASDAQ:HLNE) last posted its quarterly earnings results on Tuesday, November 5th. The company reported $0.50 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.51 by ($0.01). The business had revenue of $64.29 million during the quarter, compared to analysts’ expectations of $70.71 million. Hamilton Lane had a return on equity of 56.89% and a net margin of 15.34%. The business’s quarterly revenue was up 15.2% on a year-over-year basis. During the same period in the prior year, the business posted $0.55 earnings per share. On average, analysts expect that Hamilton Lane Inc will post 1.98 earnings per share for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Tuesday, January 7th. Stockholders of record on Monday, December 16th will be paid a $0.275 dividend. This represents a $1.10 annualized dividend and a dividend yield of 1.99%. The ex-dividend date of this dividend is Friday, December 13th. Hamilton Lane’s dividend payout ratio is currently 57.59%.
In other Hamilton Lane news, major shareholder Hartley R. Rogers sold 78,456 shares of Hamilton Lane stock in a transaction dated Thursday, September 12th. The shares were sold at an average price of $60.01, for a total transaction of $4,708,144.56. Company insiders own 43.91% of the company’s stock.
Several brokerages have recently issued reports on HLNE. Zacks Investment Research lowered shares of Hamilton Lane from a “hold” rating to a “sell” rating in a research report on Tuesday, August 20th. ValuEngine lowered shares of Hamilton Lane from a “hold” rating to a “sell” rating in a research report on Wednesday, October 2nd. Wells Fargo & Co raised their price target on shares of Hamilton Lane from $58.00 to $60.00 and gave the stock a “market perform” rating in a research note on Thursday, September 12th. Finally, BidaskClub downgraded shares of Hamilton Lane from a “buy” rating to a “hold” rating in a research note on Tuesday. Three investment analysts have rated the stock with a sell rating, four have given a hold rating and two have issued a buy rating to the company. The stock currently has a consensus rating of “Hold” and a consensus target price of $56.50.
Hamilton Lane Company Profile
Hamilton Lane Incorporated is an investment firm specializing in direct and fund of fund investments. It provides following services: separate accounts (customized to each individual client and structured as single client vehicles); specialized strategies (fund-of-funds, secondaries, co-investments, taft-hartley, distribution management); advisory relationships (including due diligence, strategic portfolio planning, monitoring and reporting services); and reporting and analytics solutions.
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