Hennessy Advisors (HNNA) Projected to Post Earnings on Thursday

Hennessy Advisors (NASDAQ:HNNA) will likely be announcing its results before the market opens on Thursday, August 6th. Analysts expect the company to announce earnings of $0.37 per share and revenue of $9.96 million for the quarter.

Hennessy Advisors (NASDAQ:HNNA) last issued its earnings results on Wednesday, May 6th. The asset manager reported $0.24 earnings per share for the quarter, missing analysts’ consensus estimates of $0.33 by ($0.09). The business had revenue of $8.13 million for the quarter, compared to the consensus estimate of $9.61 million. Hennessy Advisors had a return on equity of 8.53% and a net margin of 25.40%.

Hennessy Advisors Stock Performance

Hennessy Advisors stock opened at $9.76 on Wednesday. The firm has a market cap of $77.10 million, a price-to-earnings ratio of 9.30 and a beta of 0.59. Hennessy Advisors has a 1 year low of $8.90 and a 1 year high of $13.00. The firm’s 50 day moving average price is $10.00 and its two-hundred day moving average price is $9.98.

Wall Street Analyst Weigh In

Separately, Weiss Ratings lowered Hennessy Advisors from a “hold (c+)” rating to a “hold (c)” rating in a research note on Thursday, June 11th. One equities research analyst has rated the stock with a Hold rating, According to MarketBeat.com, the stock presently has an average rating of “Hold”.

Insider Transactions at Hennessy Advisors

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 transaction 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 ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 36.00% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in HNNA. Empowered Funds LLC lifted its position in shares of Hennessy Advisors by 14.6% in the 4th quarter. Empowered Funds LLC now owns 13,192 shares of the asset manager’s stock valued at $127,000 after acquiring an additional 1,678 shares in the last quarter. Evergreen Capital Management LLC purchased a new position in Hennessy Advisors during the 2nd quarter worth approximately $190,000. Bridgeway Capital Management LLC grew its position in Hennessy Advisors by 6.7% during the 2nd quarter. Bridgeway Capital Management LLC now owns 17,060 shares of the asset manager’s stock worth $215,000 after purchasing an additional 1,072 shares in the last quarter. Citadel Advisors LLC purchased a new position in Hennessy Advisors during the 3rd quarter worth approximately $218,000. Finally, Susquehanna International Group LLP raised its stake in Hennessy Advisors by 108.5% during the 3rd quarter. Susquehanna International Group LLP now owns 26,553 shares of the asset manager’s stock valued at $280,000 after purchasing an additional 13,819 shares during the period. 10.31% of the stock is owned by hedge funds and other institutional investors.

Hennessy Advisors Company Profile

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.