Welcome to our dedicated page for Hennessy Advisors news (Ticker: HNNA), a resource for investors and traders seeking the latest updates and insights on Hennessy Advisors stock.
Hennessy Advisors, Inc. (Nasdaq: HNNA) is a public investment management company based in Novato, California. The firm specializes in managing and marketing open-end mutual funds branded as Hennessy Funds, offering a variety of investment products including domestic equity, sector, specialty, balanced, and fixed income funds. Hennessy Advisors provides comprehensive investment advisory services, which encompass managing fund portfolios, investment research, and ensuring compliance with investment restrictions and regulations.
Hennessy Advisors operates under a disciplined investment philosophy that emphasizes a buy-and-hold strategy, rejecting market timing in favor of long-term gains. This approach is designed to benefit shareholders through consistent and reliable fund performance. The firm's commitment to integrity, honesty, and transparency is central to its operations, setting it apart in the investment management industry.
Recent financial reports highlight Hennessy Advisors' resilience and strategic growth. For the third fiscal quarter ending June 30, 2023, the company reported a quarterly dividend of $0.1375 per share, representing an annualized yield of 7.8%. Despite a downtrend in total assets under management compared to the previous year, the firm experienced a 4% increase over the last three months, partly due to the impending acquisition of CCM Equity Funds.
For the fiscal year ending September 30, 2023, Hennessy Advisors noted positive returns across its funds, with the majority outperforming broader market indices like the S&P 500 and the Dow Jones Industrial Average. This strong performance was sustained into the first fiscal quarter of 2024, where all 17 Hennessy Funds recorded positive returns for the calendar year 2023. The company continues to maintain a robust financial position, with cash net of debt increasing by over 15% in the past twelve months.
Strategic acquisitions play a significant role in Hennessy Advisors' growth strategy. The integration of CCM Small/Mid-Cap Impact Value Fund assets into their ETF lineup is a recent example of their focus on enhancing product offerings and expanding their market presence.
Overall, Hennessy Advisors remains steadfast in its mission to deliver value to shareholders through disciplined investment management, superior service, and strategic growth initiatives.
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.
Hennessy Advisors, Inc. (Nasdaq: HNNA) has announced the appointment of Lydia Knight-O'Riordan to its Board of Directors, bringing nearly 40 years of project management experience. The addition of Knight-O'Riordan increases the board to ten members, with six being independent directors. Chairman and CEO Neil Hennessy expressed confidence in her ethical standards and commitment to the company. Hennessy Advisors is focused on investment management, emphasizing a disciplined buy-and-hold investment strategy.
Hennessy Advisors (Nasdaq: HNNA) reported fiscal year earnings results for the year ended September 30, 2021. Total revenue decreased by 1.9% to $32.8 million, while net income rose 0.8% to $7.9 million. Fully diluted EPS increased 0.9% to $1.07. Average assets under management fell by 2.7% to $4.0 billion, although total assets under management increased by 14.1% to $4.1 billion. Cash and cash equivalents surged by 59.1% to $15.8 million, enhancing liquidity for future opportunities.
The Board of Directors of Hennessy Advisors (NASDAQ: HNNA) declared a quarterly dividend of $0.1375 per share, to be paid on November 23, 2021. Shareholders of record as of November 11, 2021 will receive this payment, marking the 17th consecutive year of dividend payments. The annualized dividend equates to $0.55, resulting in a yield of 4.8% based on the closing price of $11.49 on October 28, 2021. This reflects the company's financial strength and commitment to its shareholders.
Hennessy Advisors (NASDAQ: HNNA) has completed a public offering of 4.875% unsecured notes due 2026 totaling $40.25 million. The offering included $5.25 million from the underwriters' option. Rated 'A' by Egan-Jones, the notes will trade on Nasdaq as HNNAZ. Net proceeds of approximately $39 million will be used for general corporate purposes, possibly for acquisitions or share repurchases. The offering was registered with the SEC on September 23, 2021, and became effective on October 13, 2021.
Hennessy Advisors, Inc. (NASDAQ: HNNA) has announced the pricing of a public offering of $35 million in 4.875% unsecured notes due 2026. The offering includes an option for underwriters to purchase an additional $5.25 million in notes. The 2026 Notes will be listed on Nasdaq under the symbol HNNAZ and will bear interest payable quarterly, starting December 31, 2021. Proceeds from the offering will be used for general corporate purposes, including potential acquisitions or share repurchases. The offering's registration statement was declared effective on October 13, 2021.
Hennessy Advisors (NASDAQ: HNNA) announced a public offering of unsecured notes due 2026. The offering, managed by Oppenheimer & Co. Inc., expects the notes to trade on Nasdaq under the symbol HNNAZ within 30 days post-issuance. Proceeds from the offering will be allocated for general corporate purposes, including potential acquisitions or stock repurchase programs. A registration statement has been filed with the SEC, but is not yet effective, making the securities unavailable for sale until then.
Hennessy Advisors, Inc. (NASDAQ:HNNA) reported strong financial results for Q3 2021, posting $8.5 million in revenue, a 24% increase year-over-year. Net income rose 26% to $2.2 million, with fully diluted earnings per share up 25% to $0.30. Average assets under management increased 20% to $4.2 billion. The company declared a quarterly dividend of $0.1375, providing an annualized yield of 5.9%. CEO Neil Hennessy noted ongoing market strength and potential for future growth amid economic recovery.
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