Fred Alger Management LLC Has $104.23 Million Stake in Hamilton Lane Incorporated (NASDAQ:HLNE)

Fred Alger Management LLC reduced its holdings in Hamilton Lane Incorporated (NASDAQ:HLNE) by 10.0% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 618,957 shares of the company’s stock after selling 68,564 shares during the quarter. Fred Alger Management LLC owned 1.14% of Hamilton Lane worth $104,226,000 at the end of the most recent reporting period.

Other hedge funds also recently modified their holdings of the company. Van Berkom & Associates Inc. raised its holdings in Hamilton Lane by 2.0% during the 2nd quarter. Van Berkom & Associates Inc. now owns 892,812 shares of the company’s stock worth $110,334,000 after buying an additional 17,272 shares during the period. Copeland Capital Management LLC increased its position in shares of Hamilton Lane by 0.8% during the third quarter. Copeland Capital Management LLC now owns 863,397 shares of the company’s stock worth $145,388,000 after acquiring an additional 7,106 shares in the last quarter. Dimensional Fund Advisors LP raised its holdings in shares of Hamilton Lane by 6.8% during the second quarter. Dimensional Fund Advisors LP now owns 590,270 shares of the company’s stock worth $72,943,000 after acquiring an additional 37,680 shares during the period. Principal Financial Group Inc. lifted its position in Hamilton Lane by 20.2% in the 3rd quarter. Principal Financial Group Inc. now owns 583,721 shares of the company’s stock valued at $98,297,000 after acquiring an additional 97,924 shares in the last quarter. Finally, American Century Companies Inc. boosted its stake in Hamilton Lane by 30.3% in the 2nd quarter. American Century Companies Inc. now owns 580,768 shares of the company’s stock worth $71,772,000 after purchasing an additional 135,040 shares during the period. Institutional investors and hedge funds own 97.40% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms have issued reports on HLNE. Keefe, Bruyette & Woods lifted their price target on Hamilton Lane from $181.00 to $215.00 and gave the company a “market perform” rating in a research note on Thursday, November 7th. JPMorgan Chase & Co. boosted their target price on Hamilton Lane from $134.00 to $175.00 and gave the company a “neutral” rating in a research note on Thursday, November 7th. Wells Fargo & Company raised their price target on shares of Hamilton Lane from $156.00 to $170.00 and gave the stock an “equal weight” rating in a research note on Wednesday, October 9th. Morgan Stanley lifted their price objective on shares of Hamilton Lane from $182.00 to $190.00 and gave the company an “equal weight” rating in a report on Monday, November 11th. Finally, The Goldman Sachs Group increased their target price on shares of Hamilton Lane from $139.00 to $147.00 and gave the stock a “neutral” rating in a report on Thursday, October 3rd. Seven investment analysts have rated the stock with a hold rating, According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $180.33.

Hamilton Lane Stock Performance

NASDAQ HLNE opened at $192.02 on Friday. The firm has a market capitalization of $10.64 billion, a P/E ratio of 41.65 and a beta of 1.18. The company has a current ratio of 3.37, a quick ratio of 3.37 and a debt-to-equity ratio of 0.24. The firm’s fifty day moving average price is $181.47 and its two-hundred day moving average price is $150.44. Hamilton Lane Incorporated has a 1 year low of $94.38 and a 1 year high of $203.72.

Hamilton Lane (NASDAQ:HLNE) last posted its quarterly earnings results on Wednesday, November 6th. The company reported $1.07 EPS for the quarter, topping analysts’ consensus estimates of $1.06 by $0.01. Hamilton Lane had a return on equity of 35.59% and a net margin of 28.03%. The business had revenue of $150.00 million during the quarter, compared to analysts’ expectations of $151.55 million. During the same quarter last year, the company posted $0.89 earnings per share. Hamilton Lane’s quarterly revenue was up 18.2% on a year-over-year basis. As a group, research analysts anticipate that Hamilton Lane Incorporated will post 4.87 EPS for the current year.

Hamilton Lane Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, January 7th. Stockholders of record on Monday, December 16th will be paid a dividend of $0.49 per share. This represents a $1.96 dividend on an annualized basis and a dividend yield of 1.02%. The ex-dividend date of this dividend is Monday, December 16th. Hamilton Lane’s dividend payout ratio is presently 42.52%.

Hamilton Lane 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.