Hennessy Advisors (NASDAQ:HNNA) Posts Quarterly Earnings Results

Hennessy Advisors (NASDAQ:HNNA) announced its quarterly earnings data on Thursday. The asset manager reported $0.24 EPS for the quarter, FiscalAI reports. The firm had revenue of $8.32 million during the quarter. Hennessy Advisors had a return on equity of 10.40% and a net margin of 28.03%.

Hennessy Advisors Stock Performance

NASDAQ:HNNA traded down $0.45 during mid-day trading on Thursday, hitting $9.70. 30,980 shares of the stock were exchanged, compared to its average volume of 22,385. Hennessy Advisors has a fifty-two week low of $8.43 and a fifty-two week high of $13.19. The company has a debt-to-equity ratio of 0.41, a quick ratio of 12.72 and a current ratio of 12.73. The stock has a market capitalization of $76.55 million, a price-to-earnings ratio of 7.70 and a beta of 0.64. The firm’s 50-day simple moving average is $9.94 and its 200 day simple moving average is $10.57.

Institutional Investors Weigh In On Hennessy Advisors

Several hedge funds and other institutional investors have recently made changes to their positions in the stock. Evergreen Capital Management LLC bought a new position in Hennessy Advisors during the 2nd quarter worth $190,000. Bridgeway Capital Management LLC raised its position in shares of Hennessy Advisors by 6.7% during the second quarter. Bridgeway Capital Management LLC now owns 17,060 shares of the asset manager’s stock worth $215,000 after purchasing an additional 1,072 shares during the period. Citadel Advisors LLC bought a new position in shares of Hennessy Advisors in the third quarter valued at $218,000. Susquehanna International Group LLP boosted its position in shares of Hennessy Advisors by 108.5% during the third quarter. Susquehanna International Group LLP now owns 26,553 shares of the asset manager’s stock valued at $280,000 after buying an additional 13,819 shares during the last quarter. Finally, Truffle Hound Capital LLC purchased a new stake in Hennessy Advisors in the 2nd quarter valued at about $556,000. 10.31% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings reiterated a “hold (c+)” rating on shares of Hennessy Advisors in a report on Monday, December 29th. One investment analyst has rated the stock with a Hold rating, According to MarketBeat, the company has a consensus rating of “Hold”.

About Hennessy Advisors

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.