Hamilton Lane Q4 Profit Surges

(RTTNews) - Hamilton Lane Inc. (HLNE), an investment firm specializing in direct and fund-of-fund investments, on Thursday, announced a 125 percent increase in fourth-quarter earnings.

The company reported net income of $31.09 million or $0.82 per share compared to profit of 13.83 million or $0.39 per share last year.

On average, 7 analysts polled by Thomson Reuters expected the company to report earnings of $0.79 per share for the quarter.

Revenue was $112.79 million in the fourth quarter compared to $100.90 million last year.

Quarterly dividend of $0.445 per share will be paid on July 7 to shareholders of record as of June 15 for the first quarter of 2023.

In the regular trading session on Wednesday, the stock closed at $66.61, down $1.24 or 1.83%.