Hennessy Advisors (HNNA) Projected to Post Quarterly Earnings on Thursday

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

Hennessy Advisors Stock Performance

NASDAQ HNNA traded up $0.02 on Tuesday, reaching $9.94. The company’s stock had a trading volume of 2,866 shares, compared to its average volume of 5,222. Hennessy Advisors has a twelve month low of $8.90 and a twelve month high of $13.00. The firm’s 50 day moving average is $10.01 and its two-hundred day moving average is $9.99. The stock has a market cap of $78.56 million, a PE ratio of 9.47 and a beta of 0.59.

Hennessy Advisors Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, June 4th. Stockholders of record on Thursday, May 21st were paid a $0.15 dividend. The ex-dividend date of this dividend was Thursday, May 21st. This represents a $0.60 annualized dividend and a dividend yield of 6.0%. Hennessy Advisors’s payout ratio is currently 57.14%.

Insider Activity

In other news, CFO Kathryn Fahy sold 10,000 shares of the business’s stock in a transaction on Monday, May 11th. The stock was sold at an average price of $10.00, for a total transaction of $100,000.00. Following the sale, the chief financial officer directly owned 60,689 shares of the company’s stock, valued at $606,890. The trade was 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 available at this link. 36.00% of the stock is owned by company insiders.

Hedge Funds Weigh In On Hennessy Advisors

A number of institutional investors have recently bought and sold shares of HNNA. Geode Capital Management LLC raised its holdings 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 worth $654,000 after buying an additional 1,014 shares during the period. Bridgeway Capital Management LLC boosted its holdings in shares of Hennessy Advisors by 6.7% in the second quarter. Bridgeway Capital Management LLC now owns 17,060 shares of the asset manager’s stock worth $215,000 after buying an additional 1,072 shares during the period. Evergreen Capital Management LLC acquired a new position in shares of Hennessy Advisors in the second quarter worth about $190,000. Citadel Advisors LLC purchased a new position in shares of Hennessy Advisors in the third quarter worth approximately $218,000. Finally, Susquehanna International Group LLP increased 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 worth $280,000 after acquiring an additional 13,819 shares in the last quarter. Hedge funds and other institutional investors own 10.31% of the company’s stock.

Analyst Ratings Changes

Separately, Weiss Ratings lowered shares of Hennessy Advisors from a “hold (c+)” rating to a “hold (c)” rating in a research note on Thursday, June 11th. One 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”.

About Hennessy Advisors

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.