Hennessy Advisors (NASDAQ:HNNA) Announces Quarterly Earnings Results, Misses Estimates By $0.09 EPS
by Doug Wharley · The Cerbat GemHennessy Advisors (NASDAQ:HNNA – Get Free Report) announced its earnings results on Wednesday. The asset manager reported $0.24 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.33 by ($0.09), FiscalAI reports. The company had revenue of $8.13 million for the quarter, compared to the consensus estimate of $9.61 million. Hennessy Advisors had a return on equity of 8.58% and a net margin of 25.40%.
Hennessy Advisors Stock Down 0.6%
Hennessy Advisors stock traded down $0.07 during trading hours on Friday, reaching $10.14. 2,953 shares of the company’s stock were exchanged, compared to its average volume of 12,867. The firm’s 50 day simple moving average is $9.83 and its 200 day simple moving average is $9.88. Hennessy Advisors has a twelve month low of $8.90 and a twelve month high of $13.19. The firm has a market capitalization of $79.99 million, a PE ratio of 9.65 and a beta of 0.59.
Hennessy Advisors Announces Dividend
The firm also recently declared a quarterly dividend, which will be paid on Thursday, June 4th. Shareholders of record on Thursday, May 21st will be issued a dividend of $0.15 per share. This represents a $0.60 dividend on an annualized basis and a yield of 5.9%. The ex-dividend date is Thursday, May 21st. Hennessy Advisors’s dividend payout ratio (DPR) is presently 57.14%.
Institutional Trading of Hennessy Advisors
Several large investors have recently made changes to their positions in HNNA. Empowered Funds LLC grew its stake in shares of Hennessy Advisors by 14.6% in the 4th quarter. Empowered Funds LLC now owns 13,192 shares of the asset manager’s stock valued at $127,000 after buying an additional 1,678 shares during the period. Evergreen Capital Management LLC acquired a new stake in shares of Hennessy Advisors in the 2nd quarter valued at about $190,000. Bridgeway Capital Management LLC grew its stake in shares of Hennessy Advisors by 9.1% in the 4th quarter. Bridgeway Capital Management LLC now owns 20,192 shares of the asset manager’s stock valued at $194,000 after buying an additional 1,678 shares during the period. Citadel Advisors LLC acquired a new stake in shares of Hennessy Advisors in the 3rd quarter valued at about $218,000. Finally, Susquehanna International Group LLP grew its stake in shares of Hennessy Advisors by 108.5% in the 3rd 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. 10.31% of the stock is currently owned by institutional investors and hedge funds.
Analyst Upgrades and Downgrades
Separately, Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Hennessy Advisors in a research report on Friday, March 27th. One equities research analyst has rated the stock with a Hold rating, According to data from MarketBeat.com, Hennessy Advisors presently has an average rating of “Hold”.
Read Our Latest Analysis on Hennessy Advisors
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.