Hennessy Advisors (HNNA) Projected to Post Earnings on Thursday

Hennessy Advisors (NASDAQ:HNNA) is anticipated to release its results before the market opens on Thursday, August 6th. Analysts expect the company to announce earnings of $0.37 per share and revenue of $9.96 million for the quarter.

Hennessy Advisors (NASDAQ:HNNA) last posted its earnings results on Wednesday, May 6th. The asset manager reported $0.24 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.33 by ($0.09). The business had revenue of $8.13 million for the quarter, compared to the consensus estimate of $9.61 million. Hennessy Advisors had a return on equity of 8.53% and a net margin of 25.40%.

Hennessy Advisors Price Performance

HNNA stock opened at $9.81 on Thursday. The stock has a market capitalization of $77.48 million, a P/E ratio of 9.34 and a beta of 0.58. Hennessy Advisors has a fifty-two week low of $8.90 and a fifty-two week high of $13.00. The business has a 50-day moving average of $10.04 and a 200-day moving average of $9.99.

Hennessy Advisors Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, June 4th. Stockholders of record on Thursday, May 21st were paid a dividend of $0.15 per share. The ex-dividend date was Thursday, May 21st. This represents a $0.60 dividend on an annualized basis and a dividend yield of 6.1%. Hennessy Advisors’s dividend payout ratio is currently 57.14%.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings cut shares of Hennessy Advisors from a “hold (c+)” rating to a “hold (c)” rating in a research note on Thursday, June 11th. One equities research analyst has rated the stock with a Hold rating, According to data from MarketBeat, Hennessy Advisors currently has a consensus rating of “Hold”.

Insider Buying and Selling

In other news, CFO Kathryn Fahy sold 10,000 shares of the firm’s stock in a transaction dated Monday, May 11th. The shares were sold at an average price of $10.00, for a total transaction of $100,000.00. Following the completion of the sale, the chief financial officer owned 60,689 shares in the company, valued at approximately $606,890. This trade represents a 14.15% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. 36.00% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the stock. Empowered Funds LLC lifted its position in Hennessy Advisors by 14.6% during the fourth quarter. Empowered Funds LLC now owns 13,192 shares of the asset manager’s stock worth $127,000 after acquiring an additional 1,678 shares during the last quarter. Evergreen Capital Management LLC acquired a new position in shares of Hennessy Advisors in the second quarter valued at approximately $190,000. Bridgeway Capital Management LLC lifted its holdings in Hennessy Advisors by 9.1% during 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 during the last quarter. Citadel Advisors LLC acquired a new stake in Hennessy Advisors during the 3rd quarter worth approximately $218,000. Finally, Susquehanna International Group LLP boosted 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 valued at $280,000 after purchasing an additional 13,819 shares during the period. 10.31% of the stock is owned by institutional investors.

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.