Hennessy Advisors (NASDAQ:HNNA) Releases Earnings Results

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

Hennessy Advisors Price Performance

NASDAQ:HNNA traded up $0.17 during trading hours on Wednesday, reaching $10.33. 3,198 shares of the company’s stock were exchanged, compared to its average volume of 11,245. The company has a quick ratio of 15.58, a current ratio of 15.58 and a debt-to-equity ratio of 0.41. The company has a market capitalization of $80.45 million, a P/E ratio of 8.26 and a beta of 0.61. Hennessy Advisors has a 12 month low of $8.43 and a 12 month high of $13.88. The business’s 50-day simple moving average is $10.06 and its two-hundred day simple moving average is $11.10.

Hennessy Advisors Dividend Announcement

The firm also recently disclosed 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 was Wednesday, November 12th. This represents a $0.55 annualized dividend and a dividend yield of 5.3%. Hennessy Advisors’s dividend payout ratio (DPR) is 44.00%.

Wall Street Analysts Forecast Growth

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

Institutional Trading of Hennessy Advisors

Institutional investors and hedge funds have recently bought and sold shares of the stock. Evergreen Capital Management LLC purchased a new stake in shares of Hennessy Advisors in the second quarter valued at $190,000. Bridgeway Capital Management LLC raised its position in Hennessy Advisors by 6.7% during the second quarter. Bridgeway Capital Management LLC now owns 17,060 shares of the asset manager’s stock valued at $215,000 after buying an additional 1,072 shares during the period. Citadel Advisors LLC purchased a new stake in Hennessy Advisors in the 3rd quarter worth about $218,000. Susquehanna International Group LLP boosted its position in Hennessy Advisors by 108.5% during the 3rd quarter. Susquehanna International Group LLP now owns 26,553 shares of the asset manager’s stock worth $280,000 after acquiring an additional 13,819 shares during the period. Finally, Geode Capital Management LLC grew its stake in Hennessy Advisors by 2.0% during the 2nd 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 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.