Wall Street Zen Upgrades Hennessy Advisors (NASDAQ:HNNA) to "Buy"

Hennessy Advisors (NASDAQ:HNNA - Get Free Report) was upgraded by research analysts at Wall Street Zen to a "buy" rating in a note issued to investors on Thursday.

Hennessy Advisors Price Performance

Shares of HNNA traded up $0.29 during midday trading on Thursday, hitting $10.71. 614 shares of the company traded hands, compared to its average volume of 12,332. The stock has a market cap of $83.39 million, a price-to-earnings ratio of 9.56 and a beta of 0.74. The firm has a 50 day moving average of $10.23 and a 200-day moving average of $11.15. The company has a debt-to-equity ratio of 0.42, a quick ratio of 18.29 and a current ratio of 18.29. Hennessy Advisors has a 52 week low of $6.94 and a 52 week high of $13.88.

Hennessy Advisors (NASDAQ:HNNA - Get Free Report) last announced its quarterly earnings results on Wednesday, May 7th. The asset manager reported $0.33 EPS for the quarter. The company had revenue of $9.28 million during the quarter. Hennessy Advisors had a return on equity of 9.60% and a net margin of 26.29%.

Insider Buying and Selling

In other Hennessy Advisors news, CFO Kathryn Fahy sold 10,000 shares of the stock in a transaction on Tuesday, May 13th. The shares were sold at an average price of $10.71, for a total transaction of $107,100.00. Following the completion of the transaction, the chief financial officer now owns 64,211 shares in the company, valued at $687,699.81. This trade represents a 13.48% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Over the last 90 days, insiders have sold 18,575 shares of company stock worth $201,709. Insiders own 37.40% of the company's stock.

Institutional Trading of Hennessy Advisors

Large investors have recently made changes to their positions in the business. Allworth Financial LP lifted its holdings in shares of Hennessy Advisors by 202.5% in the 1st quarter. Allworth Financial LP now owns 81,380 shares of the asset manager's stock valued at $859,000 after acquiring an additional 54,480 shares during the last quarter. Redhawk Wealth Advisors Inc. raised its position in Hennessy Advisors by 27.3% during 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 during the period. Perigon Wealth Management LLC raised its position in Hennessy Advisors by 33.1% during the fourth quarter. Perigon Wealth Management LLC now owns 63,798 shares of the asset manager's stock valued at $778,000 after purchasing an additional 15,882 shares during the period. Geode Capital Management LLC lifted its stake in shares of Hennessy Advisors by 5.3% in the 4th quarter. Geode Capital Management LLC now owns 47,779 shares of the asset manager's stock valued at $604,000 after purchasing an additional 2,400 shares during the last quarter. Finally, Navellier & Associates Inc. purchased a new position in shares of Hennessy Advisors in the 4th quarter worth approximately $605,000. 10.31% of the stock is currently owned by 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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