Hennessy Advisors (NASDAQ:HNNA) Releases Earnings Results

Hennessy Advisors (NASDAQ:HNNA) issued its quarterly earnings data on Thursday. The asset manager reported $0.24 EPS for the quarter, FiscalAI reports. The company had revenue of $8.32 million during the quarter. Hennessy Advisors had a return on equity of 9.38% and a net margin of 26.52%.

Hennessy Advisors Trading Up 1.9%

Shares of NASDAQ:HNNA traded up $0.18 during trading on Friday, reaching $9.88. 5,980 shares of the company traded hands, compared to its average volume of 20,628. The company has a current ratio of 12.73, a quick ratio of 12.72 and a debt-to-equity ratio of 0.41. Hennessy Advisors has a 52-week low of $8.43 and a 52-week high of $13.19. The firm has a market capitalization of $77.95 million, a price-to-earnings ratio of 8.67 and a beta of 0.64. The business’s fifty day moving average is $9.92 and its 200-day moving average is $10.54.

Hennessy Advisors Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, March 4th. Shareholders of record on Wednesday, February 18th will be given a $0.15 dividend. The ex-dividend date is Wednesday, February 18th. This is an increase from Hennessy Advisors’s previous quarterly dividend of $0.14. This represents a $0.60 annualized dividend and a yield of 6.1%. Hennessy Advisors’s dividend payout ratio is presently 43.65%.

Wall Street Analysts Forecast Growth

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

Institutional Investors Weigh In On Hennessy Advisors

Several institutional investors have recently added to or reduced their stakes in the company. Geode Capital Management LLC increased its position in shares of Hennessy Advisors by 2.0% in the second quarter. Geode Capital Management LLC now owns 51,894 shares of the asset manager’s stock valued at $654,000 after acquiring an additional 1,014 shares during the period. Bridgeway Capital Management LLC lifted its holdings in Hennessy Advisors by 6.7% in 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 period. Redhawk Wealth Advisors Inc. grew its position in shares of Hennessy Advisors by 9.8% in the 3rd quarter. Redhawk Wealth Advisors Inc. now owns 75,314 shares of the asset manager’s stock worth $791,000 after buying an additional 6,714 shares during the last quarter. Susquehanna International Group LLP increased its stake 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 period. Finally, Evergreen Capital Management LLC bought a new position in shares of Hennessy Advisors during the second quarter valued at approximately $190,000. Hedge funds and other institutional investors 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.