Westfield Capital Management Co. LP Invests $48.82 Million in Hamilton Lane Inc. $HLNE

Westfield Capital Management Co. LP acquired a new position in Hamilton Lane Inc. (NASDAQ:HLNE) in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor acquired 363,487 shares of the company’s stock, valued at approximately $48,820,000.

A number of other hedge funds and other institutional investors have also recently modified their holdings of HLNE. Millennium Management LLC lifted its stake in shares of Hamilton Lane by 418.8% in the 3rd quarter. Millennium Management LLC now owns 1,060,511 shares of the company’s stock valued at $142,946,000 after acquiring an additional 856,112 shares during the last quarter. Principal Financial Group Inc. lifted its stake in shares of Hamilton Lane by 148.3% in the 4th quarter. Principal Financial Group Inc. now owns 1,085,850 shares of the company’s stock valued at $145,844,000 after acquiring an additional 648,588 shares during the last quarter. Norges Bank bought a new stake in shares of Hamilton Lane in the 4th quarter valued at about $68,657,000. Champlain Investment Partners LLC lifted its stake in shares of Hamilton Lane by 33.8% in the 3rd quarter. Champlain Investment Partners LLC now owns 1,388,380 shares of the company’s stock valued at $187,140,000 after acquiring an additional 350,437 shares during the last quarter. Finally, Vaughan Nelson Investment Management L.P. bought a new stake in shares of Hamilton Lane in the 4th quarter valued at about $40,855,000. 97.40% of the stock is currently owned by hedge funds and other institutional investors.

Hamilton Lane Price Performance

HLNE opened at $80.46 on Friday. The business has a 50 day simple moving average of $92.73 and a two-hundred day simple moving average of $114.72. The firm has a market capitalization of $4.47 billion, a price-to-earnings ratio of 13.61 and a beta of 1.14. Hamilton Lane Inc. has a one year low of $76.79 and a one year high of $161.13.

Hamilton Lane (NASDAQ:HLNE) last released its quarterly earnings results on Thursday, May 21st. The company reported $1.49 EPS for the quarter, beating analysts’ consensus estimates of $1.43 by $0.06. Hamilton Lane had a return on equity of 25.98% and a net margin of 32.83%.The business had revenue of $193.57 million during the quarter, compared to analyst estimates of $203.05 million. During the same quarter in the prior year, the company posted $1.21 EPS. Hamilton Lane’s quarterly revenue was down 2.2% compared to the same quarter last year. As a group, sell-side analysts expect that Hamilton Lane Inc. will post 6.33 EPS for the current fiscal year.

Hamilton Lane Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, July 7th. Stockholders of record on Thursday, June 18th will be given a $0.60 dividend. The ex-dividend date of this dividend is Thursday, June 18th. This represents a $2.40 annualized dividend and a dividend yield of 3.0%. This is an increase from Hamilton Lane’s previous quarterly dividend of $0.54. Hamilton Lane’s dividend payout ratio is currently 36.55%.

Hamilton Lane announced that its board has authorized a stock repurchase program on Thursday, May 21st that authorizes the company to repurchase $100.00 million in outstanding shares. This repurchase authorization authorizes the company to reacquire up to 2% of its stock through open market purchases. Stock repurchase programs are often a sign that the company’s leadership believes its stock is undervalued.

Analysts Set New Price Targets

A number of research firms have recently weighed in on HLNE. Keefe, Bruyette & Woods reissued an “outperform” rating on shares of Hamilton Lane in a research note on Friday, May 22nd. Morgan Stanley lowered their target price on Hamilton Lane from $159.00 to $141.00 and set an “equal weight” rating for the company in a research note on Tuesday, April 21st. BMO Capital Markets lowered their price target on Hamilton Lane from $108.00 to $102.00 and set an “outperform” rating for the company in a research report on Friday, May 22nd. JPMorgan Chase & Co. lowered their price target on Hamilton Lane from $166.00 to $148.00 and set an “overweight” rating for the company in a research report on Monday, May 18th. Finally, Weiss Ratings reaffirmed a “hold (c)” rating on shares of Hamilton Lane in a research report on Wednesday. Six investment analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $150.00.

Insider Activity

In other news, Chairman Hartley R. Rogers bought 55,000 shares of the firm’s stock in a transaction dated Tuesday, May 26th. The stock was purchased at an average price of $90.05 per share, with a total value of $4,952,750.00. Following the transaction, the chairman owned 55,000 shares of the company’s stock, valued at approximately $4,952,750. The trade was a ∞ increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 22.21% of the company’s stock.

About Hamilton Lane

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.