Hennessy Advisors (HNNA) to Release Earnings on Thursday

Hennessy Advisors (NASDAQ:HNNA) is anticipated to release its results before the market opens on Thursday, August 6th. Analysts expect Hennessy Advisors to announce earnings of $0.37 per share and revenue of $9.96 million for the quarter.

Hennessy Advisors (NASDAQ:HNNA) last released its earnings results on Wednesday, May 6th. The asset manager reported $0.24 earnings per share for the quarter, missing the consensus estimate of $0.33 by ($0.09). Hennessy Advisors had a net margin of 25.40% and a return on equity of 8.53%. The company had revenue of $8.13 million during the quarter, compared to the consensus estimate of $9.61 million.

Hennessy Advisors Stock Down 1.6%

Shares of HNNA opened at $9.81 on Thursday. Hennessy Advisors has a 12-month low of $8.90 and a 12-month high of $13.00. The firm has a market capitalization of $77.48 million, a price-to-earnings ratio of 9.34 and a beta of 0.58. The stock’s 50-day moving average price is $10.04 and its 200 day moving average price is $9.99.

Hennessy Advisors Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, June 4th. Stockholders of record on Thursday, May 21st were issued a $0.15 dividend. The ex-dividend date of this dividend was Thursday, May 21st. This represents a $0.60 dividend on an annualized basis and a dividend yield of 6.1%. Hennessy Advisors’s dividend payout ratio is presently 57.14%.

Insiders Place Their Bets

In other news, CFO Kathryn Fahy sold 10,000 shares of the company’s stock in a transaction that occurred on Monday, May 11th. The shares were sold at an average price of $10.00, for a total transaction of $100,000.00. Following the transaction, the chief financial officer directly owned 60,689 shares in the company, valued at approximately $606,890. This represents a 14.15% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Insiders own 36.00% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of the company. Empowered Funds LLC raised its position in shares of Hennessy Advisors by 14.6% during the fourth quarter. Empowered Funds LLC now owns 13,192 shares of the asset manager’s stock worth $127,000 after acquiring an additional 1,678 shares during the last quarter. Evergreen Capital Management LLC bought a new stake in Hennessy Advisors during the 2nd quarter worth about $190,000. Bridgeway Capital Management LLC boosted its stake in shares of 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 purchasing an additional 1,072 shares during the last quarter. Citadel Advisors LLC acquired a new stake in shares of Hennessy Advisors during the 3rd quarter worth approximately $218,000. Finally, Susquehanna International Group LLP raised 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 worth $280,000 after buying an additional 13,819 shares during the last quarter. 10.31% of the stock is currently owned by institutional investors.

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 report on Thursday, June 11th. One analyst has rated the stock with a Hold rating, According to data from MarketBeat.com, the stock presently has an average rating of “Hold”.

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.