Perigon Wealth Management LLC Takes Position in Hennessy Advisors, Inc. $HNNA

Perigon Wealth Management LLC bought a new position in Hennessy Advisors, Inc. (NASDAQ:HNNA) during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund bought 63,798 shares of the asset manager’s stock, valued at approximately $648,000. Perigon Wealth Management LLC owned approximately 0.81% of Hennessy Advisors as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also recently modified their holdings of HNNA. Empowered Funds LLC grew its stake in Hennessy Advisors by 13.8% during the first quarter. Empowered Funds LLC now owns 15,011 shares of the asset manager’s stock valued at $146,000 after acquiring an additional 1,819 shares in the last quarter. Renaissance Technologies LLC boosted its holdings in shares of Hennessy Advisors by 4.9% in the 1st quarter. Renaissance Technologies LLC now owns 100,088 shares of the asset manager’s stock worth $976,000 after purchasing an additional 4,699 shares during the period. Dimensional Fund Advisors LP boosted its stake in Hennessy Advisors by 7.3% during the first quarter. Dimensional Fund Advisors LP now owns 52,677 shares of the asset manager’s stock worth $514,000 after buying an additional 3,567 shares during the period. Bridgeway Capital Management LLC grew 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 valued at $194,000 after purchasing an additional 1,678 shares during the last quarter. Finally, Truffle Hound Capital LLC grew its stake in shares of Hennessy Advisors by 6.1% during the fourth quarter. Truffle Hound Capital LLC now owns 160,000 shares of the asset manager’s stock valued at $1,536,000 after buying an additional 9,143 shares during the last quarter. Institutional investors own 10.31% of the company’s stock.

Analysts Set New Price Targets

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

Hennessy Advisors Price Performance

Shares of NASDAQ HNNA opened at $10.02 on Thursday. Hennessy Advisors, Inc. has a 1-year low of $8.90 and a 1-year high of $13.00. The business has a fifty day moving average price of $10.00 and a 200 day moving average price of $9.95. The stock has a market capitalization of $79.16 million, a P/E ratio of 9.63 and a beta of 0.59.

Hennessy Advisors (NASDAQ:HNNA) last posted its earnings results on Wednesday, August 5th. The asset manager reported $0.25 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.37 by ($0.12). The company had revenue of $8.39 million during the quarter, compared to analysts’ expectations of $9.96 million. Hennessy Advisors had a net margin of 24.77% and a return on equity of 8.31%.

Hennessy Advisors Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, September 3rd. Stockholders of record on Thursday, August 20th will be given a $0.15 dividend. The ex-dividend date of this dividend is Thursday, August 20th. This represents a $0.60 dividend on an annualized basis and a dividend yield of 6.0%. Hennessy Advisors’s payout ratio is presently 57.69%.

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.