Hamilton Lane Incorporated (NASDAQ:HLNE) Shares Sold by Fred Alger Management LLC

Fred Alger Management LLC cut its stake in Hamilton Lane Incorporated (NASDAQ:HLNE - Free Report) by 10.0% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 618,957 shares of the company's stock after selling 68,564 shares during the quarter. Fred Alger Management LLC owned about 1.14% of Hamilton Lane worth $104,226,000 as of its most recent SEC filing.

A number of other hedge funds have also bought and sold shares of HLNE. American Century Companies Inc. raised its position 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. Principal Financial Group Inc. lifted its stake in Hamilton Lane by 20.2% in the third quarter. Principal Financial Group Inc. now owns 583,721 shares of the company's stock worth $98,297,000 after acquiring an additional 97,924 shares during the period. Geneva Capital Management LLC lifted its stake in Hamilton Lane by 32.8% in the third quarter. Geneva Capital Management LLC now owns 258,739 shares of the company's stock worth $43,569,000 after acquiring an additional 63,866 shares during the period. Allspring Global Investments Holdings LLC purchased a new position in Hamilton Lane during the 3rd quarter valued at about $9,587,000. Finally, New York State Common Retirement Fund increased its position in Hamilton Lane by 70.6% during the 3rd quarter. New York State Common Retirement Fund now owns 132,155 shares of the company's stock valued at $22,254,000 after purchasing an additional 54,677 shares during the period. Institutional investors own 97.40% of the company's stock.

Hamilton Lane Stock Up 0.2 %

NASDAQ:HLNE traded up $0.38 during mid-day trading on Friday, hitting $192.40. 184,886 shares of the company's stock traded hands, compared to its average volume of 314,577. The company has a fifty day moving average of $182.05 and a 200 day moving average of $150.97. The company has a debt-to-equity ratio of 0.24, a quick ratio of 3.37 and a current ratio of 3.37. Hamilton Lane Incorporated has a twelve month low of $96.38 and a twelve month high of $203.72. The company has a market capitalization of $10.67 billion, a P/E ratio of 41.74 and a beta of 1.18.

Hamilton Lane (NASDAQ:HLNE - Get Free Report) last announced its quarterly earnings data on Wednesday, November 6th. The company reported $1.07 EPS for the quarter, beating the consensus estimate of $1.06 by $0.01. The firm had revenue of $150.00 million during the quarter, compared to analyst estimates of $151.55 million. Hamilton Lane had a net margin of 28.03% and a return on equity of 35.59%. Hamilton Lane's revenue was up 18.2% on a year-over-year basis. During the same period last year, the firm posted $0.89 EPS. On average, analysts forecast that Hamilton Lane Incorporated will post 4.87 EPS for the current year.

Hamilton Lane Dividend Announcement

The business also recently disclosed 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. The ex-dividend date is Monday, December 16th. This represents a $1.96 annualized dividend and a dividend yield of 1.02%. Hamilton Lane's payout ratio is currently 42.52%.

Analysts Set New Price Targets

HLNE has been the topic of a number of recent research reports. UBS Group increased their price objective on shares of Hamilton Lane from $150.00 to $185.00 and gave the company a "neutral" rating in a research note on Tuesday, October 22nd. Wells Fargo & Company increased their target price on Hamilton Lane from $156.00 to $170.00 and gave the company an "equal weight" rating in a research report on Wednesday, October 9th. JPMorgan Chase & Co. boosted their price target on Hamilton Lane from $134.00 to $175.00 and gave the stock a "neutral" rating in a research report on Thursday, November 7th. Morgan Stanley raised their price objective on Hamilton Lane from $182.00 to $190.00 and gave the company an "equal weight" rating in a research report on Monday, November 11th. Finally, Keefe, Bruyette & Woods boosted their target price on shares of Hamilton Lane from $181.00 to $215.00 and gave the stock a "market perform" rating in a report on Thursday, November 7th. Seven equities research analysts have rated the stock with a hold rating, Based on data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and an average target price of $180.33.

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.