Hennessy Advisors (NASDAQ:HNNA) Announces Quarterly Earnings Results

Hennessy Advisors (NASDAQ:HNNA) announced its quarterly earnings results on Thursday. The asset manager reported $0.24 earnings per share (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 10.40% and a net margin of 28.03%.

Hennessy Advisors Price Performance

Shares of NASDAQ HNNA opened at $9.70 on Friday. 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 firm has a fifty day moving average of $9.93 and a 200 day moving average of $10.56. The firm has a market cap of $76.53 million, a PE ratio of 7.70 and a beta of 0.64. Hennessy Advisors has a one year low of $8.43 and a one year high of $13.19.

Hennessy Advisors Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, March 4th. Investors of record on Wednesday, February 18th will be paid a $0.15 dividend. The ex-dividend date of this dividend is Wednesday, February 18th. This represents a $0.60 dividend on an annualized basis and a yield of 6.2%. This is an increase from Hennessy Advisors’s previous quarterly dividend of $0.14. Hennessy Advisors’s dividend payout ratio is 43.65%.

Analyst Ratings Changes

Separately, Weiss Ratings reissued a “hold (c+)” rating on shares of Hennessy Advisors in a report on Monday, December 29th. One research analyst has rated the stock with a Hold rating, Based on data from MarketBeat, the stock has an average rating of “Hold”.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the stock. Geode Capital Management LLC boosted its stake 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 worth $654,000 after acquiring an additional 1,014 shares during the last quarter. Truffle Hound Capital LLC acquired a new stake in shares of Hennessy Advisors during the 2nd quarter worth about $556,000. Bridgeway Capital Management LLC raised 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 valued at $215,000 after buying an additional 1,072 shares during the period. Evergreen Capital Management LLC acquired a new position in Hennessy Advisors in the second quarter valued at about $190,000. Finally, Redhawk Wealth Advisors Inc. boosted its stake in Hennessy Advisors by 9.8% during the third 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 period. Institutional investors and hedge funds 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.