Hamilton Lane Incorporated (NASDAQ:HLNE) Sees Significant Decline in Short Interest

31 Oct 2024, 16:26 by Jessica Moore · The Cerbat Gem

Hamilton Lane Incorporated (NASDAQ:HLNE – Get Free Report) was the recipient of a large decline in short interest in October. As of October 15th, there was short interest totalling 1,450,000 shares, a decline of 14.7% from the September 30th total of 1,700,000 shares. Approximately 4.0% of the shares of the company are sold short. Based on an average daily trading volume, of 411,600 shares, the short-interest ratio is currently 3.5 days.

Analysts Set New Price Targets

Several analysts have recently commented on the stock. Wells Fargo & Company raised their price objective on shares of Hamilton Lane from $156.00 to $170.00 and gave the company an “equal weight” rating in a research report on Wednesday, October 9th. UBS Group upped their price objective on Hamilton Lane from $150.00 to $185.00 and gave the stock a “neutral” rating in a research note on Tuesday, October 22nd. The Goldman Sachs Group lifted their target price on Hamilton Lane from $139.00 to $147.00 and gave the company a “neutral” rating in a research note on Thursday, October 3rd. Morgan Stanley upped their price target on Hamilton Lane from $140.00 to $182.00 and gave the stock an “equal weight” rating in a research note on Thursday, October 10th. Finally, JPMorgan Chase & Co. lifted their price objective on shares of Hamilton Lane from $120.00 to $134.00 and gave the company a “neutral” rating in a research report on Wednesday, August 7th. Seven analysts have rated the stock with a hold rating, According to MarketBeat.com, Hamilton Lane has an average rating of “Hold” and an average price target of $160.50.

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Institutional Trading of Hamilton Lane

Several institutional investors and hedge funds have recently made changes to their positions in HLNE. Covestor Ltd grew its stake in Hamilton Lane by 14,900.0% in the first quarter. Covestor Ltd now owns 300 shares of the company’s stock worth $34,000 after purchasing an additional 298 shares in the last quarter. Quarry LP lifted its holdings in shares of Hamilton Lane by 316.2% in the 2nd quarter. Quarry LP now owns 308 shares of the company’s stock worth $38,000 after buying an additional 234 shares during the period. CWM LLC grew its position in shares of Hamilton Lane by 24.7% during the 3rd quarter. CWM LLC now owns 505 shares of the company’s stock worth $85,000 after buying an additional 100 shares in the last quarter. Signaturefd LLC increased its stake in shares of Hamilton Lane by 13.1% during the second quarter. Signaturefd LLC now owns 629 shares of the company’s stock valued at $78,000 after buying an additional 73 shares during the period. Finally, GAMMA Investing LLC raised its holdings in shares of Hamilton Lane by 32.4% in the 3rd quarter. GAMMA Investing LLC now owns 637 shares of the company’s stock valued at $107,000 after purchasing an additional 156 shares in the last quarter. 97.40% of the stock is currently owned by institutional investors.

Hamilton Lane Trading Down 1.3 %

NASDAQ HLNE traded down $2.29 on Thursday, hitting $179.93. 177,001 shares of the stock were exchanged, compared to its average volume of 311,616. The company has a debt-to-equity ratio of 0.27, a quick ratio of 2.72 and a current ratio of 2.72. Hamilton Lane has a 52-week low of $83.04 and a 52-week high of $185.10. The firm has a market capitalization of $9.72 billion, a P/E ratio of 48.86 and a beta of 1.19. The stock has a fifty day moving average price of $164.50 and a two-hundred day moving average price of $139.15.

Hamilton Lane (NASDAQ:HLNE – Get Free Report) last issued its quarterly earnings results on Tuesday, August 6th. The company reported $1.51 EPS for the quarter, beating the consensus estimate of $1.10 by $0.41. The company had revenue of $196.73 million for the quarter, compared to the consensus estimate of $149.84 million. Hamilton Lane had a net margin of 26.99% and a return on equity of 34.36%. During the same period in the prior year, the firm posted $0.94 EPS. Research analysts forecast that Hamilton Lane will post 4.9 EPS for the current fiscal year.

Hamilton Lane Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, October 4th. Shareholders of record on Monday, September 16th were given a $0.49 dividend. This represents a $1.96 annualized dividend and a yield of 1.09%. The ex-dividend date was Monday, September 16th. Hamilton Lane’s dividend payout ratio (DPR) is presently 53.12%.

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