Hamilton Lane (NASDAQ:HLNE) to Buyback $100.00 million in Shares

Hamilton Lane (NASDAQ:HLNEGet Free Report) declared that its board has authorized a share buyback program on Thursday, May 21st, RTT News reports. The company plans to repurchase $100.00 million in shares. This repurchase authorization authorizes the company to repurchase up to 2% of its shares through open market purchases. Shares repurchase programs are typically an indication that the company’s leadership believes its stock is undervalued.

Hamilton Lane Price Performance

Shares of NASDAQ:HLNE traded up $1.73 on Friday, reaching $90.32. 988,472 shares of the company traded hands, compared to its average volume of 1,029,547. The company’s 50 day moving average is $95.39 and its 200-day moving average is $117.65. The stock has a market capitalization of $5.04 billion, a PE ratio of 15.28 and a beta of 1.18. Hamilton Lane has a fifty-two week low of $82.68 and a fifty-two week high of $179.19. The company has a debt-to-equity ratio of 0.19, a current ratio of 3.64 and a quick ratio of 3.27.

Hamilton Lane (NASDAQ:HLNEGet Free Report) last announced its quarterly earnings data on Thursday, May 21st. The company reported $1.49 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.43 by $0.06. The business had revenue of $193.57 million during the quarter, compared to analyst estimates of $203.05 million. Hamilton Lane had a return on equity of 25.98% and a net margin of 32.83%.Hamilton Lane’s quarterly revenue was down 2.2% compared to the same quarter last year. During the same period last year, the company earned $1.21 earnings per share. As a group, analysts anticipate that Hamilton Lane will post 6.39 earnings per share for the current fiscal year.

Hamilton Lane Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, July 7th. Shareholders of record on Thursday, June 18th will be paid a dividend of $0.60 per share. The ex-dividend date of this dividend is Thursday, June 18th. This is a boost from Hamilton Lane’s previous quarterly dividend of $0.54. This represents a $2.40 dividend on an annualized basis and a dividend yield of 2.7%. Hamilton Lane’s payout ratio is presently 38.78%.

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on HLNE shares. Weiss Ratings reissued a “hold (c+)” rating on shares of Hamilton Lane in a research report on Thursday, January 22nd. The Goldman Sachs Group set a $148.00 price target on Hamilton Lane and gave the company a “buy” rating in a research report on Friday. Morgan Stanley decreased their target price on Hamilton Lane from $159.00 to $141.00 and set an “equal weight” rating for the company in a research report on Tuesday, April 21st. Zacks Research downgraded Hamilton Lane from a “strong-buy” rating to a “hold” rating in a research report on Monday, April 6th. Finally, Oppenheimer upped their target price on Hamilton Lane from $171.00 to $179.00 and gave the stock an “outperform” rating in a research report on Friday. Six research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $150.00.

View Our Latest Report on HLNE

Key Stories Impacting Hamilton Lane

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Hamilton Lane Company Profile

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Hamilton Lane is a global private markets investment management firm specializing in the full spectrum of private equity and credit strategies. The company partners with institutional investors and wealth managers to design, implement and manage customized portfolios in primary fund investing, secondary market transactions and direct co-investment opportunities. By combining investment selection, portfolio construction and ongoing monitoring, Hamilton Lane seeks to optimize risk-adjusted returns across diverse private markets exposures.

Founded in 1991, Hamilton Lane has developed a track record of investment and advisory services in private markets.

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