Hennessy Advisors, Inc. (NASDAQ: HNNA) stock price jumped 39.69% on the charts to $17.00 as of the last check during the pre-market session. The increase follows the release of the company’s first fiscal quarter 2025 financial figures, ended December 31, 2024.
Strong Results & Positive Returns Across the Board
Hennessy Advisors maintains its belief that corporate America can adjust to fiscal and administrative policies, setting itself up for future economic growth, even in the face of possible market instability. In 2024, all 17 of Hennessy’s mutual funds produced gains. In terms of longer-term performance, all of the HNNA’s funds had gains over the three years that ended on December 31, 2024.
Furthermore, 16 of its funds—all of which have been in existence for at least ten years—saw positive returns across time frames of five and ten years. HNNA credits its stable business model, rigorous investment strategy, and successful marketing and distribution initiatives for its success. Due in large part to these causes, managed assets increased by about 50% year over year to $4.8 billion.
Increased Profitability and Financial Stability
The financial standing of Hennessy Advisors has significantly improved. With a net cash position of $24.7 million, the corporation recorded a roughly 30% growth in the previous year. HNNA’s robust profitability was further reinforced by a 136% increase in net income to $2.8 million. Hennessy Advisors is still dedicated to continuing on its upward trajectory moving ahead, seizing chances to increase shareholder value while keeping long-term growth in mind.
Declared Quarterly Dividend
A quarterly dividend of $0.1375 per share, payable on March 6, 2025, was announced by Hennessy Advisors as an additional way to reward its investors. The distribution, which corresponds to an annualized dividend yield of 4.6%, will be distributed to shareholders who were listed on February 24, 2025.