Hennessy Advisors (NASDAQ:HNNA) Posts Earnings Results

Hennessy Advisors (NASDAQ:HNNA) posted its earnings results on Wednesday. The asset manager reported $0.31 earnings per share for the quarter, Zacks reports. Hennessy Advisors had a net margin of 27.55% and a return on equity of 10.48%.

Hennessy Advisors Stock Up 1.7%

Shares of NASDAQ:HNNA traded up $0.17 during midday trading on Wednesday, reaching $10.33. The company had a trading volume of 3,198 shares, compared to its average volume of 11,245. Hennessy Advisors has a one year low of $8.43 and a one year high of $13.88. The company has a debt-to-equity ratio of 0.41, a current ratio of 15.58 and a quick ratio of 15.58. The stock has a market capitalization of $80.45 million, a P/E ratio of 8.26 and a beta of 0.61. The stock’s fifty day moving average price is $10.06 and its 200-day moving average price is $11.10.

Hennessy Advisors Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Wednesday, November 26th. Stockholders of record on Wednesday, November 12th were given a dividend of $0.1375 per share. The ex-dividend date of this dividend was Wednesday, November 12th. This represents a $0.55 dividend on an annualized basis and a dividend yield of 5.3%. Hennessy Advisors’s dividend payout ratio (DPR) is presently 44.00%.

Analyst Ratings Changes

Separately, Weiss Ratings raised Hennessy Advisors from a “hold (c)” rating to a “buy (b-)” rating in a research report on Saturday, October 25th. One equities research analyst has rated the stock with a Buy rating, According to data from MarketBeat.com, the stock has an average rating of “Buy”.

Institutional Investors Weigh In On Hennessy Advisors

A number of institutional investors have recently modified their holdings of the stock. Geode Capital Management LLC grew its stake in Hennessy Advisors by 2.0% in the second quarter. Geode Capital Management LLC now owns 51,894 shares of the asset manager’s stock worth $654,000 after purchasing an additional 1,014 shares in the last quarter. Bridgeway Capital Management LLC lifted its holdings in Hennessy Advisors by 6.7% during the 2nd quarter. Bridgeway Capital Management LLC now owns 17,060 shares of the asset manager’s stock worth $215,000 after buying an additional 1,072 shares during the last quarter. Evergreen Capital Management LLC acquired a new position in shares of Hennessy Advisors in the 2nd quarter worth approximately $190,000. Citadel Advisors LLC bought a new stake in shares of Hennessy Advisors in the 3rd quarter valued at approximately $218,000. Finally, Susquehanna International Group LLP raised its position in shares of Hennessy Advisors by 108.5% during the 3rd quarter. Susquehanna International Group LLP now owns 26,553 shares of the asset manager’s stock valued at $280,000 after acquiring an additional 13,819 shares in the last quarter. Institutional investors and hedge funds own 10.31% of the company’s stock.

About Hennessy Advisors

Hennessy Advisors, Inc is an employee owned investment manager. It provides its services to Hennessy Funds and investment companies. The firm launches and manages equity, fixed income, and balanced mutual funds. It invests in the public equity and fixed income markets across the globe. The firm primarily invests in growth stocks of companies.