Hennessy Advisor Stock Price, News & Analysis

Hennessy Advisors, Inc. (Nasdaq:HNNA) reported its Q1 2023 financial results, showing total revenue of $6.1 million, a 28% decrease year-over-year, and net income of $1.1 million, down 42%. EPS fell to $0.15, a 40% decline. The company announced a quarterly dividend of $0.1375 per share, representing a yield of 5.6%. Despite a reduction in assets under management by 26% to $3.0 billion, cash reserves increased by 17.9%. Hennessy remains committed to value investing and is optimistic about future growth opportunities.

Hennessy Advisors, Inc. (NASDAQ: HNNA) has successfully completed the acquisition of the Stance Equity ESG Large Cap Core ETF (NYSE: STNC), now rebranded as the Hennessy Stance ESG Large Cap ETF. This transaction involves approximately $43 million in assets, with Stance Capital continuing as sub-advisor. Chairman Neil Hennessy emphasized the significance of this deal as their 11th acquisition, expanding their product offerings in the ETF market. The collaboration aims to ensure quality service for new shareholders.

Hennessy Advisors, Inc. (Nasdaq: HNNA) has appointed Kiera Newton to its Board of Directors, where she will also chair the Audit Committee. Newton brings over seven years of public accounting experience, enhancing the board's financial expertise. Concurrently, three existing directors are moving to the Advisory Committee, allowing for mentorship. This transition aims to strengthen governance and provide better oversight. The changes reflect the company's commitment to enhancing shareholder value.

Hennessy Advisors (Nasdaq: HNNA) reported its fiscal year ended September 30, 2022. Total revenue decreased by 9% to $29.7 million, with net income falling 22% to $6.2 million. Fully diluted EPS decreased by 23% to $0.82. Average assets under management decreased by 9% to $3.6 billion, while total assets under management declined by 29% to $2.9 billion. Despite challenges, the company is growing its cash reserves, which increased by 15% to $18.2 million, and is committed to maintaining its dividend.

Hennessy Advisors (NASDAQ: HNNA) declared a quarterly dividend of $0.1375 per share, payable on November 30, 2022, to shareholders of record by November 15, 2022, representing an annual yield of 6.25%. The company has maintained uninterrupted dividend payments for 18 years, demonstrating their commitment to financial stability. The annualized dividend totals $0.55 per share, based on a closing stock price of $8.80 on October 26, 2022.

Hennessy Advisors (NASDAQ: HNNA) has announced a definitive agreement with Stance Capital and Red Gate Advisers to manage the Stance Equity ESG Large Cap Core ETF (NYSE: STNC), which currently has approximately $40 million in assets. Expected to be finalized in Q4 2022, the Stance ETF will be reorganized under Hennessy Funds Trust as the Hennessy Stance ESG Large Cap ETF. Hennessy will serve as the investment advisor, with Stance Capital remaining a sub-advisor. This strategic move highlights Hennessy’s focus on long-term value and expansion into the ETF market.

Hennessy Advisors (NASDAQ: HNNA) reported Q3 2022 results, with total revenue of $6.9 million, down 19% year-over-year. Net income decreased by 42% to $1.3 million, with diluted EPS down 43% at $0.17. Average assets under management fell by 17% to $3.4 billion. The company announced a quarterly dividend of $0.1375 per share, yielding 5.3%. Despite economic challenges, management stated cash continues to grow and shares eligible for buyback have increased to over 1 million.

Hennessy Advisors (NASDAQ:HNNA) reported Q2 2022 results, revealing total revenue of $7.7 million, a decline of 2% year-over-year. Net income fell by 15% to $1.6 million, with diluted earnings per share at $0.21, down 19%. Despite these declines, cash and cash equivalents net of debt increased by 36% to nearly $15.6 million. A quarterly dividend of $0.1375 per share was announced, yielding 5.8%. The firm maintains confidence in the U.S. economy's strength amid ongoing global challenges.

Hennessy Advisors, Inc. (NASDAQ:HNNA) reported its Q1 2022 results, highlighting a 10% increase in revenue to $8.5 million and an 8% rise in net income to $1.9 million. The fully diluted EPS grew by 4% to $0.25. The firm announced a quarterly dividend of $0.1375 per share, yielding 5.4%. Additionally, cash net of debt surged by 43%, positioning the company competitively for acquisitions. Despite market volatility, the CEO remains optimistic about achieving new highs in 2022.