State of Alaska Department of Revenue Invests $791,000 in Hamilton Lane Incorporated (NASDAQ:HLNE)

State of Alaska Department of Revenue bought a new position in shares of Hamilton Lane Incorporated (NASDAQ:HLNE) during the third quarter, Holdings Channel reports. The fund bought 4,700 shares of the company’s stock, valued at approximately $791,000.

Several other hedge funds have also modified their holdings of the stock. Covestor Ltd lifted its position in shares of Hamilton Lane by 14,900.0% in the 1st quarter. Covestor Ltd now owns 300 shares of the company’s stock valued at $34,000 after acquiring an additional 298 shares in the last quarter. Quarry LP raised its stake in Hamilton Lane by 316.2% during the 2nd quarter. Quarry LP now owns 308 shares of the company’s stock valued at $38,000 after purchasing an additional 234 shares during the period. Signaturefd LLC lifted its holdings in shares of Hamilton Lane by 13.1% in the second quarter. Signaturefd LLC now owns 629 shares of the company’s stock valued at $78,000 after purchasing an additional 73 shares in the last quarter. CWM LLC boosted its position in shares of Hamilton Lane by 24.7% in the third quarter. CWM LLC now owns 505 shares of the company’s stock worth $85,000 after buying an additional 100 shares during the period. Finally, Fifth Third Bancorp grew its holdings in shares of Hamilton Lane by 106.5% during the second quarter. Fifth Third Bancorp now owns 694 shares of the company’s stock valued at $86,000 after buying an additional 358 shares in the last quarter. 97.40% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several equities research analysts recently issued reports on HLNE shares. The Goldman Sachs Group increased their price objective on Hamilton Lane from $139.00 to $147.00 and gave the stock a “neutral” rating in a research note on Thursday, October 3rd. UBS Group raised their price target on shares of Hamilton Lane from $150.00 to $185.00 and gave the stock a “neutral” rating in a report on Tuesday, October 22nd. Keefe, Bruyette & Woods boosted their price objective on shares of Hamilton Lane from $135.00 to $145.00 and gave the company a “market perform” rating in a research report on Wednesday, August 7th. Morgan Stanley increased their target price on shares of Hamilton Lane from $140.00 to $182.00 and gave the stock an “equal weight” rating in a research report on Thursday, October 10th. Finally, Wells Fargo & Company boosted their price target on shares of Hamilton Lane from $156.00 to $170.00 and gave the company an “equal weight” rating in a report on Wednesday, October 9th. Seven equities research analysts have rated the stock with a hold rating, According to MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $160.50.

Hamilton Lane Price Performance

Shares of HLNE opened at $192.63 on Thursday. The company has a debt-to-equity ratio of 0.27, a quick ratio of 2.72 and a current ratio of 2.72. The firm has a market cap of $10.44 billion, a PE ratio of 44.28 and a beta of 1.18. The firm’s 50 day moving average price is $167.61 and its 200 day moving average price is $141.67. Hamilton Lane Incorporated has a twelve month low of $84.85 and a twelve month high of $196.60.

Hamilton Lane (NASDAQ:HLNE) last released its quarterly earnings results on Tuesday, August 6th. The company reported $1.51 earnings per share for the quarter, beating analysts’ consensus estimates of $1.10 by $0.41. Hamilton Lane had a net margin of 26.99% and a return on equity of 34.36%. The business had revenue of $196.73 million for the quarter, compared to the consensus estimate of $149.84 million. During the same quarter last year, the firm earned $0.94 EPS. As a group, research analysts expect that Hamilton Lane Incorporated will post 4.9 EPS for the current fiscal year.

Hamilton Lane Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, October 4th. Shareholders of record on Monday, September 16th were issued a dividend of $0.49 per share. The ex-dividend date of this dividend was Monday, September 16th. This represents a $1.96 annualized dividend and a yield of 1.02%. Hamilton Lane’s dividend payout ratio (DPR) is currently 45.06%.

About Hamilton Lane

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.