Hennessy Advisors (NASDAQ:HNNA) Releases Quarterly Earnings Results

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

Hennessy Advisors Price Performance

Shares of NASDAQ HNNA traded up $0.23 during midday trading on Friday, hitting $12.40. 30,806 shares of the company’s stock were exchanged, compared to its average volume of 9,403. Hennessy Advisors has a 12-month low of $6.51 and a 12-month high of $13.88. The company has a current ratio of 13.78, a quick ratio of 13.78 and a debt-to-equity ratio of 0.43. The company has a market cap of $96.47 million, a price-to-earnings ratio of 13.48 and a beta of 0.77. The business’s fifty day moving average price is $12.27 and its two-hundred day moving average price is $10.78.

Hennessy Advisors Cuts Dividend

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

Insider Transactions at Hennessy Advisors

In other news, VP Daniel B. Steadman sold 3,200 shares of the business’s stock in a transaction dated Wednesday, December 18th. The stock was sold at an average price of $12.19, for a total transaction of $39,008.00. Following the completion of the transaction, the vice president now owns 47,242 shares of the company’s stock, valued at approximately $575,879.98. The trade was a 6.34 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Thomas L. Seavey sold 7,269 shares of the company’s stock in a transaction that occurred on Tuesday, December 17th. The stock was sold at an average price of $12.10, for a total value of $87,954.90. Following the completion of the sale, the director now directly owns 83,160 shares of the company’s stock, valued at approximately $1,006,236. This represents a 8.04 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 31,083 shares of company stock valued at $367,315. 37.40% of the stock is owned by corporate insiders.

Hennessy Advisors Company Profile

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.