Envestnet Portfolio Solutions Inc. Acquires 2,232 Shares of Hamilton Lane Inc. $HLNE

Envestnet Portfolio Solutions Inc. raised its holdings in shares of Hamilton Lane Inc. (NASDAQ:HLNE) by 116.7% in the second quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 4,144 shares of the company’s stock after purchasing an additional 2,232 shares during the period. Envestnet Portfolio Solutions Inc.’s holdings in Hamilton Lane were worth $589,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also made changes to their positions in the company. GAMMA Investing LLC increased its stake in shares of Hamilton Lane by 65.8% during the first quarter. GAMMA Investing LLC now owns 920 shares of the company’s stock valued at $137,000 after purchasing an additional 365 shares in the last quarter. OneDigital Investment Advisors LLC purchased a new stake in shares of Hamilton Lane during the first quarter valued at approximately $225,000. Mirae Asset Global Investments Co. Ltd. grew its holdings in shares of Hamilton Lane by 12.5% during the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 9,773 shares of the company’s stock valued at $1,437,000 after buying an additional 1,084 shares during the last quarter. Wealth Enhancement Advisory Services LLC grew its holdings in shares of Hamilton Lane by 6.6% during the first quarter. Wealth Enhancement Advisory Services LLC now owns 3,414 shares of the company’s stock valued at $508,000 after buying an additional 212 shares during the last quarter. Finally, New York State Teachers Retirement System grew its holdings in shares of Hamilton Lane by 11.3% during the first quarter. New York State Teachers Retirement System now owns 7,880 shares of the company’s stock valued at $1,172,000 after buying an additional 800 shares during the last quarter. Institutional investors own 97.40% of the company’s stock.

Hamilton Lane Trading Up 1.0%

Shares of HLNE stock opened at $120.97 on Wednesday. The company has a current ratio of 4.32, a quick ratio of 4.32 and a debt-to-equity ratio of 0.29. Hamilton Lane Inc. has a 12-month low of $114.63 and a 12-month high of $203.72. The stock has a market capitalization of $6.74 billion, a P/E ratio of 23.26 and a beta of 1.20. The firm’s 50 day moving average is $141.41 and its 200 day moving average is $147.67.

Hamilton Lane (NASDAQ:HLNE) last released its quarterly earnings results on Tuesday, August 5th. The company reported $1.31 earnings per share for the quarter, topping the consensus estimate of $0.98 by $0.33. Hamilton Lane had a net margin of 30.66% and a return on equity of 29.47%. The business had revenue of $196.73 million for the quarter, compared to the consensus estimate of $166.96 million. During the same period last year, the firm earned $1.47 earnings per share. The company’s quarterly revenue was up 11.8% on a year-over-year basis. Research analysts expect that Hamilton Lane Inc. will post 4.97 earnings per share for the current year.

Hamilton Lane Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, October 6th. Shareholders of record on Friday, September 19th were given a $0.54 dividend. The ex-dividend date was Friday, September 19th. This represents a $2.16 annualized dividend and a yield of 1.8%. Hamilton Lane’s dividend payout ratio (DPR) is presently 41.54%.

Insiders Place Their Bets

In other Hamilton Lane news, major shareholder River 5 Ltd French sold 150,000 shares of the stock in a transaction that occurred on Thursday, September 4th. The shares were sold at an average price of $146.51, for a total value of $21,976,500.00. Following the transaction, the insider directly owned 330,015 shares in the company, valued at approximately $48,350,497.65. This trade represents a 31.25% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 22.21% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts have recently commented on the stock. Morgan Stanley cut their price target on shares of Hamilton Lane from $169.00 to $154.00 and set an “equal weight” rating on the stock in a report on Tuesday. Wall Street Zen upgraded shares of Hamilton Lane from a “sell” rating to a “hold” rating in a report on Friday, October 3rd. Keefe, Bruyette & Woods upgraded shares of Hamilton Lane from a “market perform” rating to an “outperform” rating and cut their price target for the company from $168.00 to $150.00 in a report on Monday, October 13th. The Goldman Sachs Group upgraded shares of Hamilton Lane from a “sell” rating to a “neutral” rating and raised their target price for the stock from $149.00 to $162.00 in a report on Thursday, September 18th. Finally, Wells Fargo & Company raised their target price on shares of Hamilton Lane from $161.00 to $162.00 and gave the stock an “equal weight” rating in a report on Friday, July 11th. Two investment analysts have rated the stock with a Strong Buy rating, three have assigned a Buy rating and four have assigned a Hold rating to the stock. According to MarketBeat, Hamilton Lane presently has a consensus rating of “Moderate Buy” and a consensus target price of $157.71.

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.