OLD National Bancorp IN Acquires 292 Shares of Hamilton Lane Inc. $HLNE

OLD National Bancorp IN increased its holdings in Hamilton Lane Inc. (NASDAQ:HLNE) by 17.7% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 1,945 shares of the company’s stock after buying an additional 292 shares during the period. OLD National Bancorp IN’s holdings in Hamilton Lane were worth $276,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently bought and sold shares of the business. 111 Capital bought a new position in Hamilton Lane in the 2nd quarter worth approximately $528,000. Vicus Capital bought a new position in Hamilton Lane in the 2nd quarter worth approximately $237,000. Impact Capital Partners LLC bought a new position in Hamilton Lane in the 2nd quarter worth approximately $395,000. Truist Financial Corp boosted its holdings in Hamilton Lane by 163.6% in the 2nd quarter. Truist Financial Corp now owns 24,745 shares of the company’s stock valued at $3,517,000 after purchasing an additional 15,357 shares during the period. Finally, Janney Montgomery Scott LLC boosted its holdings in Hamilton Lane by 2,139.2% in the 2nd quarter. Janney Montgomery Scott LLC now owns 103,360 shares of the company’s stock valued at $14,690,000 after purchasing an additional 98,744 shares during the period. 97.40% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several brokerages have commented on HLNE. Weiss Ratings reissued a “hold (c+)” rating on shares of Hamilton Lane in a report on Saturday, September 27th. Keefe, Bruyette & Woods raised their price target on shares of Hamilton Lane from $160.00 to $168.00 and gave the company a “market perform” rating in a report on Wednesday, August 6th. Wall Street Zen raised shares of Hamilton Lane from a “sell” rating to a “hold” rating in a report on Friday, October 3rd. BMO Capital Markets began coverage on shares of Hamilton Lane in a report on Friday, October 3rd. They issued an “outperform” rating and a $150.00 price target for the company. Finally, JPMorgan Chase & Co. cut their price target on shares of Hamilton Lane from $153.00 to $145.00 and set a “neutral” rating for the company in a report on Wednesday, July 23rd. Two equities research analysts have rated the stock with a Strong Buy rating and eight have issued a Hold rating to the company. According to data from MarketBeat, the company has a consensus rating of “Hold” and an average target price of $164.38.

Insider Buying and Selling

In related news, major shareholder River 5 Ltd French sold 150,000 shares of Hamilton Lane stock in a transaction 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 owned 330,015 shares in the company, valued at $48,350,497.65. This trade represents a 31.25% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 22.21% of the stock is currently owned by insiders.

Hamilton Lane Stock Performance

Hamilton Lane stock opened at $122.60 on Wednesday. The firm’s fifty day moving average price is $148.16 and its 200-day moving average price is $149.73. The company has a debt-to-equity ratio of 0.29, a quick ratio of 4.32 and a current ratio of 4.32. The stock has a market cap of $6.83 billion, a P/E ratio of 23.58 and a beta of 1.20. Hamilton Lane Inc. has a fifty-two week low of $122.53 and a fifty-two week high of $203.72.

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

Hamilton Lane Dividend Announcement

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

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.