Hennessy Advisors (NASDAQ:HNNA) Issues Quarterly Earnings Results

Key Points

• Hennessy Advisors missed quarterly expectations: The asset manager reported earnings of $0.25 per share versus the $0.37 consensus estimate, while revenue of $8.39 million fell short of forecasts for $9.96 million.
• Shares rose modestly: HNNA traded up 0.9% to $9.85, with a market capitalization of approximately $77.8 million and a price-to-earnings ratio of 9.38.
• Analyst sentiment remains neutral: Weiss Ratings downgraded the stock’s rating but maintained a hold-equivalent view; the company’s consensus rating is also “Hold.”

Hennessy Advisors (NASDAQ:HNNA - Get Free Report) posted its quarterly earnings results on Wednesday. The asset manager reported $0.25 EPS for the quarter, missing analysts' consensus estimates of $0.37 by ($0.12), Zacks reports. The firm had revenue of $8.39 million during the quarter, compared to analyst estimates of $9.96 million. Hennessy Advisors had a return on equity of 8.53% and a net margin of 25.40%.

Hennessy Advisors Trading Up 0.9%

NASDAQ:HNNA traded up $0.09 during midday trading on Wednesday, hitting $9.85. 2,279 shares of the stock were exchanged, compared to its average volume of 10,386. Hennessy Advisors has a one year low of $8.90 and a one year high of $13.00. The business has a 50-day moving average price of $10.00 and a two-hundred day moving average price of $9.98. The company has a market capitalization of $77.81 million, a price-to-earnings ratio of 9.38 and a beta of 0.59.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings downgraded shares of Hennessy Advisors from a "hold (c+)" rating to a "hold (c)" rating in a research report on Thursday, June 11th. One analyst has rated the stock with a Hold rating, According to data from MarketBeat, the company has a consensus rating of "Hold".

Insider Buying and Selling

In other Hennessy Advisors news, CFO Kathryn Fahy sold 10,000 shares of the company's stock in a transaction dated Monday, May 11th. The shares were sold at an average price of $10.00, for a total value of $100,000.00. Following the completion of the sale, the chief financial officer directly owned 60,689 shares of the company's stock, valued at approximately $606,890. This represents a 14.15% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Company insiders own 36.00% of the company's stock.

Hedge Funds Weigh In On Hennessy Advisors

Hedge funds have recently modified their holdings of the stock. Truffle Hound Capital LLC raised its holdings in shares of Hennessy Advisors by 6.1% during the fourth quarter. Truffle Hound Capital LLC now owns 160,000 shares of the asset manager's stock valued at $1,536,000 after acquiring an additional 9,143 shares during the period. Geode Capital Management LLC grew its stake in shares of Hennessy Advisors by 3.4% in the 4th 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 in the last quarter. Dimensional Fund Advisors LP grew its position in Hennessy Advisors by 2.7% in the fourth quarter. Dimensional Fund Advisors LP now owns 49,110 shares of the asset manager's stock worth $471,000 after acquiring an additional 1,282 shares in the last quarter. Susquehanna International Group LLP boosted its holdings 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 purchasing an additional 13,819 shares in the last quarter. Finally, Citadel Advisors LLC acquired a new position in Hennessy Advisors during the third quarter worth $218,000. 10.31% of the stock is currently owned by institutional investors and hedge funds.

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.

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