Hennessy Advisors' (HNNA) "Hold (C)" Rating Reiterated at Weiss Ratings

Key Points

• Hennessy Advisors' stock has been given a "hold (c)" rating, reaffirmed by Weiss Ratings, indicating a neutral stance on the stock's future performance.
• The asset manager reported a $0.26 EPS for its latest quarter, with a net margin of 27.55% and a return on equity of 10.48%.
• Recent insider activity showed that Director Thomas L. Seavey sold 2,603 shares of Hennessy Advisors stock, reducing his ownership by 4.91%.

Hennessy Advisors (NASDAQ:HNNA - Get Free Report)'s stock had its "hold (c)" rating restated by stock analysts at Weiss Ratings in a note issued to investors on Wednesday,Weiss Ratings reports.

Hennessy Advisors Stock Performance

Shares of Hennessy Advisors stock opened at $10.54 on Wednesday. The business's fifty day simple moving average is $11.33 and its 200 day simple moving average is $11.15. The firm has a market capitalization of $82.11 million, a P/E ratio of 8.43 and a beta of 0.71. Hennessy Advisors has a 12 month low of $8.43 and a 12 month high of $13.88. The company has a current ratio of 15.58, a quick ratio of 15.58 and a debt-to-equity ratio of 0.41.

Hennessy Advisors (NASDAQ:HNNA - Get Free Report) last issued its quarterly earnings results on Wednesday, August 6th. The asset manager reported $0.26 EPS for the quarter. Hennessy Advisors had a return on equity of 10.48% and a net margin of 27.55%.

Insider Activity

In other Hennessy Advisors news, Director Thomas L. Seavey sold 2,603 shares of the business's stock in a transaction on Friday, August 15th. The stock was sold at an average price of $10.63, for a total value of $27,669.89. Following the sale, the director directly owned 50,424 shares in the company, valued at $536,007.12. The trade was a 4.91% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Insiders sold 20,398 shares of company stock valued at $219,216 in the last 90 days. Insiders own 37.40% of the company's stock.

Hedge Funds Weigh In On Hennessy Advisors

Several hedge funds have recently made changes to their positions in HNNA. Evergreen Capital Management LLC purchased a new position in shares of Hennessy Advisors in the second quarter valued at $190,000. Bridgeway Capital Management LLC grew its position 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 valued at $215,000 after purchasing an additional 1,072 shares in the last quarter. Truffle Hound Capital LLC purchased a new position in shares of Hennessy Advisors in the second quarter valued at $556,000. Geode Capital Management LLC grew its position in shares of Hennessy Advisors by 2.0% in the second quarter. Geode Capital Management LLC now owns 51,894 shares of the asset manager's stock valued at $654,000 after purchasing an additional 1,014 shares in the last quarter. Finally, Redhawk Wealth Advisors Inc. grew its position in shares of Hennessy Advisors by 27.3% in the first quarter. Redhawk Wealth Advisors Inc. now owns 67,396 shares of the asset manager's stock valued at $671,000 after purchasing an additional 14,460 shares in the last quarter. 10.31% of the stock is currently owned by hedge funds and other institutional investors.

About Hennessy Advisors

Hennessy Advisors, Inc is an employee owned investment manager. It provides its services to Hennessy Funds and investment companies. The firm launches and manages equity, fixed income, and balanced mutual funds. It invests in the public equity and fixed income markets across the globe. The firm primarily invests in growth stocks of companies.

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