Share Repurchase Plan Initiated by Hamilton Lane (NASDAQ:HLNE) Board of Directors

Hamilton Lane (NASDAQ:HLNEGet Free Report) announced that its board has approved a stock repurchase plan on Thursday, May 21st, RTT News reports. The company plans to repurchase $100.00 million in outstanding shares. This repurchase authorization allows the company to purchase up to 2% of its shares through open market purchases. Shares repurchase plans are often a sign that the company’s board of directors believes its shares are undervalued.

Wall Street Analysts Forecast Growth

HLNE has been the subject of a number of research reports. UBS Group decreased their target price on shares of Hamilton Lane from $184.00 to $150.00 and set a “buy” rating for the company in a research report on Friday, February 20th. BMO Capital Markets reduced their price objective on Hamilton Lane from $108.00 to $102.00 and set an “outperform” rating for the company in a research note on Friday. Oppenheimer boosted their price objective on Hamilton Lane from $171.00 to $179.00 and gave the company an “outperform” rating in a report on Friday. Keefe, Bruyette & Woods reissued an “outperform” rating on shares of Hamilton Lane in a report on Friday. Finally, Morgan Stanley reduced their price target 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. Six 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, Hamilton Lane presently has an average rating of “Moderate Buy” and a consensus price target of $150.00.

View Our Latest Stock Report on HLNE

Hamilton Lane Price Performance

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

Hamilton Lane (NASDAQ:HLNEGet Free Report) last released its quarterly earnings results on Thursday, May 21st. The company reported $1.49 earnings per share for the quarter, topping analysts’ consensus estimates of $1.43 by $0.06. The company had revenue of $193.57 million during the quarter, compared to analysts’ expectations 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 quarter in the prior year, the firm posted $1.21 EPS. As a group, analysts predict that Hamilton Lane will post 6.39 earnings per share for the current year.

Hamilton Lane Increases Dividend

The firm 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 dividend of $0.60 per share. This is a positive change from Hamilton Lane’s previous quarterly dividend of $0.54. The ex-dividend date is Thursday, June 18th. This represents a $2.40 dividend on an annualized basis and a dividend yield of 2.7%. Hamilton Lane’s payout ratio is 38.78%.

Hamilton Lane News Summary

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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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