Hennessy Advisors (NASDAQ:HNNA) Issues Earnings Results, Misses Expectations By $0.12 EPS

Hennessy Advisors (NASDAQ:HNNA) announced its quarterly earnings data on Wednesday. The asset manager reported $0.25 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.37 by ($0.12), Zacks reports. The firm had revenue of $8.39 million during the quarter, compared to the consensus estimate of $9.96 million. Hennessy Advisors had a return on equity of 8.35% and a net margin of 24.77%.

Hennessy Advisors Price Performance

Shares of HNNA stock traded down $0.02 during mid-day trading on Friday, hitting $9.90. The stock had a trading volume of 1,285 shares, compared to its average volume of 10,293. 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 $78.18 million, a P/E ratio of 9.52 and a beta of 0.59. The firm’s 50-day moving average is $9.99 and its two-hundred day moving average is $9.98.

Hennessy Advisors Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, September 3rd. Shareholders of record on Thursday, August 20th will be issued a dividend of $0.15 per share. This represents a $0.60 annualized dividend and a yield of 6.1%. The ex-dividend date is Thursday, August 20th. Hennessy Advisors’s dividend payout ratio (DPR) is presently 57.14%.

Insider Activity at Hennessy Advisors

In other news, CFO Kathryn Fahy sold 10,000 shares of the firm’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 transaction, the chief financial officer owned 60,689 shares in the company, valued at approximately $606,890. This trade represents a 14.15% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this link. Corporate insiders own 36.00% of the company’s stock.

Institutional Investors Weigh In On Hennessy Advisors

Several large investors have recently modified their holdings of HNNA. Truffle Hound Capital LLC lifted its position in shares of 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 period. Geode Capital Management LLC increased its holdings 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 valued at $542,000 after buying an additional 1,873 shares during the period. Dimensional Fund Advisors LP increased its holdings in Hennessy Advisors by 2.7% during the fourth quarter. Dimensional Fund Advisors LP now owns 49,110 shares of the asset manager’s stock valued at $471,000 after buying an additional 1,282 shares during the period. Susquehanna International Group LLP raised its stake in 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 buying an additional 13,819 shares in the last quarter. Finally, Citadel Advisors LLC bought a new position in Hennessy Advisors in the third quarter worth approximately $218,000. Institutional investors own 10.31% of the company’s stock.

Analysts Set New Price Targets

Separately, Weiss Ratings lowered Hennessy Advisors from a “hold (c+)” rating to a “hold (c)” rating in a research note on Thursday, June 11th. One equities research analyst has rated the stock with a Hold rating, Based on data from MarketBeat, Hennessy Advisors currently 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.