Hennessy Advisors, Inc. (HNNA) To Go Ex-Dividend on May 21st

Hennessy Advisors, Inc. (NASDAQ:HNNA) announced a quarterly dividend on Wednesday, May 6th. Stockholders of record on Thursday, May 21st will be given a dividend of 0.15 per share by the asset manager on Thursday, June 4th. This represents a c) annualized dividend and a dividend yield of 5.9%. The ex-dividend date of this dividend is Thursday, May 21st.

Hennessy Advisors Stock Performance

NASDAQ:HNNA opened at $10.20 on Friday. The stock has a market capitalization of $80.50 million, a P/E ratio of 9.71 and a beta of 0.59. The company has a 50 day moving average price of $9.83 and a 200 day moving average price of $9.88. Hennessy Advisors has a fifty-two week low of $8.90 and a fifty-two week high of $13.19.

Hennessy Advisors (NASDAQ:HNNA) last posted its quarterly earnings data 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 company had revenue of $8.13 million for the quarter, compared to analysts’ expectations of $9.61 million. Hennessy Advisors had a return on equity of 8.58% and a net margin of 25.40%.

Institutional Investors Weigh In On Hennessy Advisors

A number of hedge funds and other institutional investors have recently modified their holdings of HNNA. Empowered Funds LLC raised its holdings 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 purchasing an additional 1,678 shares in the last quarter. Evergreen Capital Management LLC acquired a new stake in shares of Hennessy Advisors in the 2nd quarter valued at $190,000. Bridgeway Capital Management LLC raised its holdings in shares of Hennessy Advisors by 9.1% in the 4th quarter. Bridgeway Capital Management LLC now owns 20,192 shares of the asset manager’s stock valued at $194,000 after purchasing an additional 1,678 shares in the last quarter. Citadel Advisors LLC acquired a new stake in shares of Hennessy Advisors in the 3rd quarter valued at $218,000. Finally, Susquehanna International Group LLP raised its holdings in shares of Hennessy Advisors by 108.5% in 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 in the last quarter. 10.31% of the stock is currently owned by institutional investors and hedge funds.

About Hennessy Advisors

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.