Hennessy Advisors (NASDAQ:HNNA) Issues Earnings Results

Hennessy Advisors (NASDAQ:HNNA) announced its quarterly earnings results on Wednesday. The asset manager reported $0.24 EPS for the quarter, missing analysts’ consensus estimates of $0.33 by ($0.09), FiscalAI reports. The firm had revenue of $8.13 million during the quarter, compared to analyst estimates of $9.61 million. Hennessy Advisors had a net margin of 26.52% and a return on equity of 9.33%.

Hennessy Advisors Stock Up 1.7%

Shares of NASDAQ HNNA traded up $0.17 during mid-day trading on Thursday, reaching $10.08. 2,696 shares of the company were exchanged, compared to its average volume of 12,979. The company’s 50-day simple moving average is $9.82 and its 200-day simple moving average is $9.88. The stock has a market capitalization of $79.49 million, a P/E ratio of 8.84 and a beta of 0.59. Hennessy Advisors has a twelve month low of $8.90 and a twelve month high of $13.19.

Hennessy Advisors Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, June 4th. Stockholders of record on Thursday, May 21st will be paid a dividend of $0.15 per share. This represents a $0.60 dividend on an annualized basis and a dividend yield of 6.0%. The ex-dividend date is Thursday, May 21st. Hennessy Advisors’s dividend payout ratio (DPR) is currently 52.63%.

Analysts Set New Price Targets

Separately, Weiss Ratings reiterated a “hold (c+)” rating on shares of Hennessy Advisors in a research note on Friday, March 27th. One investment analyst has rated the stock with a Hold rating, According to MarketBeat.com, the company has an average rating of “Hold”.

Institutional Trading of Hennessy Advisors

A number of hedge funds have recently modified their holdings of HNNA. Empowered Funds LLC raised its stake in Hennessy Advisors by 14.6% in the 4th quarter. Empowered Funds LLC now owns 13,192 shares of the asset manager’s stock worth $127,000 after purchasing an additional 1,678 shares in the last quarter. Evergreen Capital Management LLC acquired a new stake in Hennessy Advisors in the 2nd quarter worth about $190,000. Bridgeway Capital Management LLC raised its stake in Hennessy Advisors by 9.1% in the 4th quarter. Bridgeway Capital Management LLC now owns 20,192 shares of the asset manager’s stock worth $194,000 after purchasing an additional 1,678 shares in the last quarter. Citadel Advisors LLC acquired a new stake in Hennessy Advisors in the 3rd quarter worth about $218,000. Finally, Susquehanna International Group LLP raised its stake in Hennessy Advisors by 108.5% in the 3rd quarter. Susquehanna International Group LLP now owns 26,553 shares of the asset manager’s stock worth $280,000 after purchasing an additional 13,819 shares in the last quarter. Institutional investors and hedge funds own 10.31% of the company’s stock.

Hennessy Advisors Company Profile

Hennessy Advisors, Inc is an investment advisory firm specializing in the management of closed-end and open-end funds, as well as separate account strategies. Serving as the investment adviser to a family of publicly traded closed-end funds and a series of mutual funds, the company focuses on generating income and total return for its shareholders by deploying a range of equity and fixed-income strategies. Hennessy Advisors is registered with the U.S. Securities and Exchange Commission and operates under the Investment Advisers Act of 1940.

The firm’s product lineup includes multiple closed-end funds that invest in U.S.