TimesSquare Capital Management LLC Cuts Stake in Hamilton Lane Incorporated (NASDAQ:HLNE)

TimesSquare Capital Management LLC cut its holdings in Hamilton Lane Incorporated (NASDAQ:HLNE) by 23.2% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 357,045 shares of the company’s stock after selling 108,045 shares during the quarter. TimesSquare Capital Management LLC owned approximately 0.66% of Hamilton Lane worth $40,503,000 as of its most recent SEC filing.

Other hedge funds also recently added to or reduced their stakes in the company. GAMMA Investing LLC bought a new position in Hamilton Lane in the fourth quarter worth about $48,000. SRS Capital Advisors Inc. raised its stake in shares of Hamilton Lane by 345.6% during the 4th quarter. SRS Capital Advisors Inc. now owns 508 shares of the company’s stock worth $58,000 after acquiring an additional 394 shares in the last quarter. International Assets Investment Management LLC purchased a new stake in Hamilton Lane during the fourth quarter valued at approximately $142,000. Nomura Asset Management Co. Ltd. boosted its stake in Hamilton Lane by 11.7% in the third quarter. Nomura Asset Management Co. Ltd. now owns 1,609 shares of the company’s stock valued at $146,000 after acquiring an additional 168 shares in the last quarter. Finally, CI Investments Inc. purchased a new position in Hamilton Lane in the third quarter worth $155,000. 97.40% of the stock is owned by hedge funds and other institutional investors.

Hamilton Lane Stock Performance

HLNE stock traded down $0.66 during midday trading on Thursday, hitting $115.84. 184,647 shares of the stock traded hands, compared to its average volume of 240,073. The stock’s fifty day simple moving average is $111.41 and its 200-day simple moving average is $107.58. The firm has a market cap of $6.26 billion, a P/E ratio of 35.46 and a beta of 1.16. Hamilton Lane Incorporated has a 1-year low of $62.86 and a 1-year high of $121.90. The company has a debt-to-equity ratio of 0.32, a current ratio of 2.58 and a quick ratio of 2.58.

Hamilton Lane (NASDAQ:HLNE) last announced its quarterly earnings results on Tuesday, February 6th. The company reported $0.71 earnings per share for the quarter, missing the consensus estimate of $0.88 by ($0.17). Hamilton Lane had a net margin of 25.22% and a return on equity of 28.77%. The business had revenue of $125.26 million during the quarter, compared to analysts’ expectations of $130.47 million. During the same quarter in the prior year, the firm earned $0.43 EPS. Hamilton Lane’s revenue for the quarter was down 1.4% on a year-over-year basis. On average, analysts expect that Hamilton Lane Incorporated will post 3.53 earnings per share for the current year.

Hamilton Lane Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, April 4th. Investors of record on Friday, March 15th were paid a $0.445 dividend. The ex-dividend date was Thursday, March 14th. This represents a $1.78 dividend on an annualized basis and a yield of 1.54%. Hamilton Lane’s dividend payout ratio is currently 54.77%.

Analyst Ratings Changes

HLNE has been the subject of a number of research analyst reports. Wells Fargo & Company raised their price target on shares of Hamilton Lane from $106.00 to $111.00 and gave the stock an “equal weight” rating in a report on Wednesday, February 7th. UBS Group raised their price objective on Hamilton Lane from $118.00 to $120.00 and gave the stock a “neutral” rating in a research note on Friday, April 12th. JPMorgan Chase & Co. lowered Hamilton Lane from an “overweight” rating to a “neutral” rating and set a $115.00 target price on the stock. in a research report on Thursday, April 11th. Oppenheimer lowered shares of Hamilton Lane from an “outperform” rating to a “market perform” rating in a research report on Thursday, January 11th. Finally, Morgan Stanley upped their price objective on shares of Hamilton Lane from $102.00 to $126.00 and gave the company an “equal weight” rating in a report on Wednesday, January 24th. Six analysts have rated the stock with a hold rating, According to MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $109.67.

Insiders Place Their Bets

In other news, major shareholder Oakville Number 2 Trust sold 55,000 shares of Hamilton Lane stock in a transaction dated Thursday, March 7th. The shares were sold at an average price of $108.00, for a total value of $5,940,000.00. Following the sale, the insider now owns 480,015 shares in the company, valued at $51,841,620. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 26.82% of the stock is currently owned by company insiders.

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.