Hennessy Advisors (NASDAQ:HNNA) Announces Quarterly Earnings Results, Misses Estimates By $0.09 EPS

Hennessy Advisors (NASDAQ:HNNA) posted its quarterly earnings results on Wednesday. The asset manager reported $0.24 earnings per share for the quarter, missing the consensus estimate of $0.33 by ($0.09), FiscalAI reports. Hennessy Advisors had a net margin of 26.52% and a return on equity of 9.33%. The business had revenue of $8.13 million for the quarter, compared to analyst estimates of $9.61 million.

Hennessy Advisors Stock Down 0.6%

Shares of HNNA traded down $0.06 during mid-day trading on Wednesday, hitting $9.91. 6,120 shares of the company’s stock were exchanged, compared to its average volume of 13,100. Hennessy Advisors has a twelve month low of $8.90 and a twelve month high of $13.19. The firm has a fifty day moving average of $9.82 and a two-hundred day moving average of $9.88. The stock has a market cap of $78.19 million, a price-to-earnings ratio of 8.69 and a beta of 0.59.

Hennessy Advisors Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, March 4th. Stockholders of record on Wednesday, February 18th were paid a dividend of $0.15 per share. This is a positive change from Hennessy Advisors’s previous quarterly dividend of $0.14. The ex-dividend date was Wednesday, February 18th. This represents a $0.60 annualized dividend and a dividend yield of 6.1%. Hennessy Advisors’s dividend payout ratio (DPR) is currently 52.63%.

Institutional Trading of Hennessy Advisors

Several large investors have recently made changes to their positions in the stock. Truffle Hound Capital LLC lifted its holdings in Hennessy Advisors by 6.1% in the 4th quarter. Truffle Hound Capital LLC now owns 160,000 shares of the asset manager’s stock worth $1,536,000 after purchasing an additional 9,143 shares during the last quarter. Geode Capital Management LLC boosted its position in Hennessy Advisors by 3.4% during the fourth quarter. Geode Capital Management LLC now owns 56,478 shares of the asset manager’s stock worth $542,000 after purchasing an additional 1,873 shares during the period. Dimensional Fund Advisors LP raised its position in shares of Hennessy Advisors by 2.7% in the fourth quarter. Dimensional Fund Advisors LP now owns 49,110 shares of the asset manager’s stock valued at $471,000 after purchasing an additional 1,282 shares during the period. Susquehanna International Group LLP raised its position in shares of Hennessy Advisors by 108.5% in the third quarter. Susquehanna International Group LLP now owns 26,553 shares of the asset manager’s stock valued at $280,000 after purchasing an additional 13,819 shares during the period. Finally, Citadel Advisors LLC acquired a new stake in shares of Hennessy Advisors in the third quarter worth $218,000. Institutional investors own 10.31% of the company’s stock.

Analyst Ratings Changes

Separately, Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Hennessy Advisors in a research note on Friday, March 27th. One research analyst has rated the stock with a Hold rating, According to data from MarketBeat.com, the stock presently has a consensus 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.