Key Points
- Insider sale: Vice President Daniel Steadman sold 5,000 Hennessy Advisors shares for $51,300, reducing his ownership by 11.69% to 37,768 shares.
- Financial performance: Hennessy Advisors reported quarterly EPS of $0.25, missing the $0.37 consensus estimate, while revenue of $8.39 million also fell short of expectations.
- Dividend and outlook: The company pays a quarterly dividend of $0.15, equivalent to a 5.9% annualized yield. Analysts maintain a “Hold” rating, while the stock recently traded near $10.18.
Hennessy Advisors, Inc. (NASDAQ:HNNA - Get Free Report) VP Daniel Steadman sold 5,000 shares of the company's stock in a transaction that occurred on Thursday, September 24th. The stock was sold at an average price of $10.26, for a total transaction of $51,300.00. Following the completion of the transaction, the vice president owned 37,768 shares in the company, valued at approximately $387,499.68. This represents a 11.69% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website.
Hennessy Advisors Stock Performance
NASDAQ:HNNA opened at $10.18 on Friday. Hennessy Advisors, Inc. has a fifty-two week low of $8.90 and a fifty-two week high of $11.19. The company has a 50 day moving average price of $10.06 and a 200 day moving average price of $9.99. The stock has a market capitalization of $80.42 million, a P/E ratio of 9.79 and a beta of 0.58.
Hennessy Advisors (NASDAQ:HNNA - Get Free Report) last announced its earnings results on Wednesday, August 5th. The asset manager reported $0.25 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.37 by ($0.12). Hennessy Advisors had a net margin of 24.77% and a return on equity of 8.31%. The firm had revenue of $8.39 million during the quarter, compared to analysts' expectations of $9.96 million.
Hennessy Advisors Announces Dividend
The company also recently disclosed a quarterly dividend, which was paid on Thursday, September 3rd. Stockholders of record on Thursday, August 20th were paid a $0.15 dividend. The ex-dividend date of this dividend was Thursday, August 20th. This represents a $0.60 dividend on an annualized basis and a dividend yield of 5.9%. Hennessy Advisors's payout ratio is presently 57.69%.
Wall Street Analysts Forecast Growth
Separately, Weiss Ratings reissued a "hold (c)" rating on shares of Hennessy Advisors in a research note on Tuesday, September 8th. One investment analyst has rated the stock with a Hold rating, According to MarketBeat, the company currently has an average rating of "Hold".
Get Our Latest Research Report on HNNA
Institutional Inflows and Outflows
Several hedge funds and other institutional investors have recently made changes to their positions in the business. Concurrent Investment Advisors LLC increased its stake in Hennessy Advisors by 103.0% during the 2nd quarter. Concurrent Investment Advisors LLC now owns 21,396 shares of the asset manager's stock worth $217,000 after buying an additional 10,857 shares during the period. Susquehanna International Group LLP boosted its position in Hennessy Advisors by 5.8% in the 2nd quarter. Susquehanna International Group LLP now owns 21,611 shares of the asset manager's stock valued at $219,000 after buying an additional 1,187 shares during the period. Aegis Financial Corp boosted its position in Hennessy Advisors by 20.8% in the 2nd quarter. Aegis Financial Corp now owns 170,768 shares of the asset manager's stock valued at $1,733,000 after buying an additional 29,415 shares during the period. Empowered Funds LLC purchased a new position in Hennessy Advisors in the 2nd quarter valued at approximately $168,000. Finally, Bank of America Corp DE acquired a new position in shares of Hennessy Advisors in the second quarter worth $154,000. Hedge funds and other institutional investors own 10.31% of the company's stock.
Hennessy Advisors Company Profile
(
Get Free Report)
Hennessy Advisors, Inc is an investment management company that provides advisory services to mutual funds, exchange-traded funds and other investment vehicles. The company develops and manages portfolios for individual and institutional investors, with strategies spanning U.S. equities, financial companies, growth stocks, income-oriented investments and other specialized areas.
Through the Hennessy Funds family, the company offers a range of actively managed and index-oriented investment products.
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