Hamilton Lane: Record Revenue At Half The Multiple Of Peers

Avalon Capital Research 172 Followers Follow Summary We rate Hamilton Lane a BUY with a base case price target of $128, roughly 24% above the September 4 price. HLNE reported record quarterly revenue of $275.3 million, up 56% YoY, with management and advisory fees up 21%. HLNE insiders bought $4.2 million of stock on the open market in June, and the board raised the dividend target 11%. HLNE trades at 15.7x TTM earnings, roughly half the multiple of Blackstone and KKR, while converting 32% of revenue into shareholder income, the highest in our comparison table. g-stockstudio/iStock via Getty Images Hamilton Lane Incorporated ( HLNE ) has had a rough year. The shares had lost nearly half their value from a 52-week high of $155.66, trending alongside Blackstone ( BX ), KKR ( KKR ), and This article was written by Avalon Capital Research 172 Followers Follow Avalon Capital Research publishes independent analysis of US equities, indices, and the macro forces behind them for fund managers, allocators, and serious investors.We cover individual companies, sector trends, monetary policy, and the political decisions that move markets. Our Closing Bell series recaps each trading session with the context you need, while our long-form research on Seeking Alpha digs into earnings, capital flows, and the data behind the bigger moves.No filler, no consensus-chasing. Every piece we publish is grounded in data and built around a clear thesis.Independent Research. Clear Insights. Trusted Analysis. Analyst’s Disclosure: I/we have no stock, option or similar derivative position in any of the companies mentioned, and no plans to initiate any such positions within the next 72 hours. I wrote this article myself, and it expresses my own opinions. I am not receiving compensation for it (other than from Seeking Alpha). I have no business relationship with any company whose stock is mentioned in this article. Seeking Alpha's Disclosure: Past performance is no guarantee of future results. No recommendation or advice is being given as to whether any investment is suitable for a particular investor. Any views or opinions expressed above may not reflect those of Seeking Alpha as a whole. Seeking Alpha is not a licensed securities dealer, broker or US investment adviser or investment bank. Our analysts are third party authors that include both professional investors and individual investors who may not be licensed or certified by any institute or regulatory body.