Hennessy Advisors (NASDAQ:HNNA) Releases Quarterly Earnings Results

Hennessy Advisors (NASDAQ:HNNA) posted its quarterly earnings results on Thursday. The asset manager reported $0.36 EPS for the quarter, Zacks reports. Hennessy Advisors had a net margin of 26.64% and a return on equity of 7.92%. The company had revenue of $9.71 million for the quarter.

Hennessy Advisors Stock Performance

Shares of HNNA stock traded up $0.23 on Friday, hitting $12.40. 30,806 shares of the stock were exchanged, compared to its average volume of 9,403. The firm’s 50 day moving average is $12.27 and its two-hundred day moving average is $10.78. Hennessy Advisors has a one year low of $6.51 and a one year high of $13.88. The firm has a market capitalization of $96.47 million, a PE ratio of 13.48 and a beta of 0.77. The company has a current ratio of 13.78, a quick ratio of 13.78 and a debt-to-equity ratio of 0.43.

Hennessy Advisors Cuts Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, March 6th. Shareholders of record on Monday, February 24th will be paid a $0.1375 dividend. The ex-dividend date of this dividend is Monday, February 24th. This represents a $0.55 annualized dividend and a dividend yield of 4.44%. Hennessy Advisors’s payout ratio is presently 59.78%.

Insider Activity at Hennessy Advisors

In related news, VP Daniel B. Steadman sold 2,900 shares of the business’s stock in a transaction dated Friday, December 20th. The stock was sold at an average price of $11.75, for a total value of $34,075.00. Following the sale, the vice president now directly owns 44,342 shares in the company, valued at approximately $521,018.50. The trade was a 6.14 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Thomas L. Seavey sold 11,074 shares of the business’s stock in a transaction dated Thursday, December 19th. The shares were sold at an average price of $11.44, for a total value of $126,686.56. Following the completion of the sale, the director now owns 70,429 shares in the company, valued at $805,707.76. This represents a 13.59 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 31,083 shares of company stock worth $367,315. Company insiders own 37.40% of the company’s stock.

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.