Avantax Advisory Services Inc. Sells 714 Shares of Hamilton Lane Incorporated (NASDAQ:HLNE)

Avantax Advisory Services Inc. trimmed its position in Hamilton Lane Incorporated (NASDAQ:HLNE) by 8.8% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 7,446 shares of the company’s stock after selling 714 shares during the period. Avantax Advisory Services Inc.’s holdings in Hamilton Lane were worth $1,102,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently modified their holdings of the company. Farther Finance Advisors LLC lifted its stake in Hamilton Lane by 283.3% in the 4th quarter. Farther Finance Advisors LLC now owns 299 shares of the company’s stock valued at $44,000 after acquiring an additional 221 shares in the last quarter. Icon Wealth Advisors LLC bought a new stake in shares of Hamilton Lane in the third quarter worth $111,000. Harvest Fund Management Co. Ltd acquired a new position in Hamilton Lane during the third quarter worth $127,000. KBC Group NV grew its position in Hamilton Lane by 18.0% in the third quarter. KBC Group NV now owns 1,141 shares of the company’s stock valued at $192,000 after purchasing an additional 174 shares in the last quarter. Finally, Associated Banc Corp acquired a new stake in Hamilton Lane in the 3rd quarter valued at $212,000. 97.40% of the stock is owned by institutional investors and hedge funds.

Hamilton Lane Stock Up 4.0 %

HLNE opened at $150.57 on Thursday. The company has a current ratio of 4.19, a quick ratio of 4.19 and a debt-to-equity ratio of 0.34. The stock’s fifty day simple moving average is $152.86 and its 200 day simple moving average is $164.82. Hamilton Lane Incorporated has a 1-year low of $105.65 and a 1-year high of $203.72. The stock has a market cap of $8.35 billion, a PE ratio of 27.78 and a beta of 1.28.

Hamilton Lane (NASDAQ:HLNE) last posted its earnings results on Tuesday, February 4th. The company reported $1.25 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.13 by $0.12. Hamilton Lane had a net margin of 31.12% and a return on equity of 36.69%. The company had revenue of $168.26 million during the quarter, compared to analysts’ expectations of $158.86 million. During the same quarter last year, the company posted $0.71 EPS. Hamilton Lane’s quarterly revenue was up 34.3% compared to the same quarter last year. As a group, research analysts expect that Hamilton Lane Incorporated will post 4.97 earnings per share for the current year.

Hamilton Lane Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, April 4th. Stockholders of record on Friday, March 14th will be given a $0.49 dividend. This represents a $1.96 annualized dividend and a dividend yield of 1.30%. The ex-dividend date of this dividend is Friday, March 14th. Hamilton Lane’s payout ratio is 36.16%.

Wall Street Analysts Forecast Growth

Several equities analysts have recently weighed in on HLNE shares. Oppenheimer upgraded Hamilton Lane from a “market perform” rating to an “outperform” rating and set a $186.00 price objective for the company in a report on Tuesday, January 21st. Wells Fargo & Company raised their price target on Hamilton Lane from $163.00 to $169.00 and gave the company an “equal weight” rating in a research note on Wednesday, February 5th. Keefe, Bruyette & Woods increased their price objective on Hamilton Lane from $158.00 to $168.00 and gave the company a “market perform” rating in a report on Wednesday, February 5th. Finally, The Goldman Sachs Group cut shares of Hamilton Lane from a “neutral” rating to a “sell” rating and set a $139.00 target price for the company. in a research note on Monday, January 6th. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and one has assigned a buy rating to the company. According to data from MarketBeat.com, Hamilton Lane has a consensus rating of “Hold” and a consensus target price of $173.14.

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.