Hennessy Advisors (NASDAQ:HNNA) Upgraded by Wall Street Zen to Buy Rating

Wall Street Zen upgraded shares of Hennessy Advisors (NASDAQ:HNNA) to a buy rating in a research report report published on Thursday morning.

Hennessy Advisors Price Performance

NASDAQ HNNA opened at $10.55 on Thursday. Hennessy Advisors has a fifty-two week low of $6.94 and a fifty-two week high of $13.88. The stock’s 50-day moving average is $10.23 and its two-hundred day moving average is $11.15. The company has a debt-to-equity ratio of 0.42, a current ratio of 18.29 and a quick ratio of 18.29. The firm has a market cap of $82.14 million, a P/E ratio of 9.42 and a beta of 0.74.

Hennessy Advisors (NASDAQ:HNNA) last posted its earnings results on Wednesday, May 7th. The asset manager reported $0.33 earnings per share for the quarter. Hennessy Advisors had a return on equity of 9.60% and a net margin of 26.29%. The company had revenue of $9.28 million for the quarter.

Hennessy Advisors Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, June 4th. Shareholders of record on Tuesday, May 20th will be issued a dividend of $0.1375 per share. The ex-dividend date of this dividend is Tuesday, May 20th. This represents a $0.55 annualized dividend and a yield of 5.21%. Hennessy Advisors’s dividend payout ratio (DPR) is currently 44.00%.

Insider Buying and Selling at Hennessy Advisors

In other news, CFO Kathryn Fahy sold 8,000 shares of Hennessy Advisors stock in a transaction dated Thursday, February 27th. The stock was sold at an average price of $11.07, for a total value of $88,560.00. Following the transaction, the chief financial officer now directly owns 74,211 shares in the company, valued at approximately $821,515.77. The trade was a 9.73% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders have sold a total of 18,575 shares of company stock worth $201,709 over the last three months. Corporate insiders own 37.40% of the company’s stock.

Hedge Funds Weigh In On Hennessy Advisors

Institutional investors have recently made changes to their positions in the business. Quinn Opportunity Partners LLC bought a new position in shares of Hennessy Advisors in the fourth quarter worth about $139,000. Allworth Financial LP bought a new position in shares of Hennessy Advisors in the fourth quarter worth about $336,000. Northern Trust Corp increased its stake in shares of Hennessy Advisors by 63.8% in the fourth quarter. Northern Trust Corp now owns 34,432 shares of the asset manager’s stock worth $439,000 after purchasing an additional 13,407 shares during the period. Navellier & Associates Inc. bought a new position in shares of Hennessy Advisors in the fourth quarter worth about $605,000. Finally, Geode Capital Management LLC increased its stake in shares of Hennessy Advisors by 5.3% in the fourth quarter. Geode Capital Management LLC now owns 47,779 shares of the asset manager’s stock worth $604,000 after purchasing an additional 2,400 shares during the period. 10.31% of the stock is currently owned by institutional investors.

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.