HENNESSY ADVISORS INC
HNNA, HNNAZ · Investment Advice · 7.9M shares · +1%/yr ↑ shares · EDGAR filings ↗
Net buyback after stock comp: $2M (gross $3M, SBC $990K)
Reference price $10.00 · est. market cap ~$79M — last insider sale, 2026-05-11 (estimated from the dated SEC Form 4 price × shares outstanding — not a live quote)
Grade
B72Hennessy Advisors — small, high-margin active fund manager.
Strengths
- Operating margin 37% (96th pct), revenue +20%, strong FCF (85th)
- Debt-light, cash-generative model
Risks
- Active-fund outflow and fee-pressure exposure
- Sub-scale; concentration in a few funds
Quarterly revenue
Last 4 quarters · from SEC filings.
Key metrics
Operating margin
37.0%
Net margin
28.0%
Return on equity
10.2%
Return on assets
6.2%
Revenue growth (QoQ)
-2.2%
Net-income growth
40.3%
Interest coverage
5.7×
Current ratio
12.7×
Free cash flow
$13M
Tangible book value
$98M
Cash & investments
$72M
Stock comp / revenue
3.2%
Insider transactions · last 18 months
| Date | Insider | Type | Shares | Price |
|---|---|---|---|---|
| 2026-05-11 | Fahy Kathryn | Sell | 10K | $10.00 |
| 2025-12-30 | Newton Kiera | Sell | 571 | $9.35 |
| 2025-12-26 | STEADMAN DANIEL B | Gift | 750 | — |
| 2025-12-19 | HENNESSY BRIAN A | Gift | 4.9K | — |
| 2025-12-10 | Fahy Kathryn | Gift | 2.0K | — |
| 2025-12-08 | STEADMAN DANIEL B | Gift | 500 | — |
| 2025-12-08 | STEADMAN DANIEL B | Gift | 500 | — |
| 2025-09-29 | Newton Kiera | Sell | 390 | $10.73 |
| 2025-09-23 | Newton Kiera | Sell | 3 | $11.00 |
| 2025-09-18 | HENNESSY BRIAN A | Grant | 5.6K | — |
| 2025-09-18 | Pomilia Susan Weber | Grant | 5.6K | — |
| 2025-09-18 | SEAVEY THOMAS L | Grant | 5.6K | — |
| 2025-09-18 | Knight ORiordan Lydia D | Grant | 5.6K | — |
| 2025-09-18 | Newton Kiera | Grant | 5.6K | — |
| 2025-09-18 | LIBARLE DANIEL G | Grant | 2.8K | — |
| 2025-09-18 | OFFENBACH RODGER | Grant | 2.8K | — |
| 2025-09-18 | Fahy Kathryn | Tax withheld | 4.0K | $11.08 |
| 2025-09-18 | HENNESSY NEIL J | Grant | 20K | — |
| 2025-09-18 | HENNESSY NEIL J | Tax withheld | 9.0K | $11.08 |
| 2025-09-18 | NILSEN TERESA M | Grant | 20K | — |
| 2025-09-18 | NILSEN TERESA M | Tax withheld | 9.0K | $11.08 |
| 2025-09-18 | STEADMAN DANIEL B | Grant | 9.4K | — |
| 2025-09-18 | STEADMAN DANIEL B | Tax withheld | 3.0K | $11.08 |
| 2025-09-18 | Fahy Kathryn | Grant | 12K | — |
| 2025-09-18 | HANSEL HENRY | Grant | 5.6K | — |
| 2025-08-27 | STEADMAN DANIEL B | Gift | 2.0K | — |
| 2025-08-15 | SEAVEY THOMAS L | Sell | 2.6K | $10.63 |
| 2025-08-14 | SEAVEY THOMAS L | Sell | 2.7K | $10.70 |
| 2025-08-13 | SEAVEY THOMAS L | Sell | 7.7K | $10.71 |
| 2025-08-12 | SEAVEY THOMAS L | Sell | 7.0K | $10.85 |
| 2025-05-13 | Fahy Kathryn | Sell | 10K | $10.71 |
| 2025-03-28 | NILSEN TERESA M | Sell | 4.0K | $10.42 |
| 2025-03-27 | NILSEN TERESA M | Sell | 4.0K | $10.53 |
| 2025-03-27 | Newton Kiera | Sell | 575 | $10.52 |
| 2025-03-27 | NILSEN TERESA M | Gift | 4.0K | — |
| 2025-03-27 | NILSEN TERESA M | Gift | 4.0K | — |
| 2025-03-26 | NILSEN TERESA M | Sell | 1.0K | $10.47 |
| 2025-03-25 | NILSEN TERESA M | Sell | 3.0K | $10.55 |
| 2025-03-24 | NILSEN TERESA M | Sell | 3.0K | $10.50 |
| 2025-03-21 | NILSEN TERESA M | Sell | 3.0K | $10.38 |
| 2025-03-20 | NILSEN TERESA M | Sell | 1.9K | $10.46 |
| 2025-03-04 | HENNESSY BRIAN A | Gift | 1.0K | — |
| 2025-02-27 | Fahy Kathryn | Sell | 8.0K | $11.07 |
All non-derivative Form 4 activity (SEC), newest first.
Supply chain
Customers (1)
- Hennessy Funds
Suppliers (6)
- RBC Global Asset Management (U.S.) Inc.
- SPARX Asset Management Co., Ltd.
- Broad Run Investment Management, LLC
- FCI Advisors
- The London Company of Virginia, LLC
- U.S. Bank Global Fund Services
Named in the 10-K; linked when we track them.
Notable events (8-K)
Recent filings
| Form | Filed | Period | Accession |
|---|---|---|---|
| 8-K | 2026-05-28 | 2026-05-28 | 0001437749-26-018751 ↗ |
| 10-Q | 2026-05-06 | 2026-03-31 | 0001437749-26-015205 ↗ |
| 8-K | 2026-05-06 | 2026-05-06 | 0001437749-26-015206 ↗ |
| 8-K | 2026-02-09 | 2026-02-05 | 0001437749-26-003520 ↗ |
| 10-Q | 2026-02-05 | 2025-12-31 | 0001437749-26-003203 ↗ |
| 8-K | 2026-02-05 | 2026-02-05 | 0001437749-26-003204 ↗ |
| 10-K | 2025-12-03 | 2025-09-30 | 0001437749-25-036795 ↗ |
| 8-K | 2025-12-03 | 2025-12-03 | 0001437749-25-036796 ↗ |
| 8-K | 2025-10-29 | 2025-10-29 | 0001437749-25-032192 ↗ |
| 8-K | 2025-08-06 | 2025-08-06 | 0001437749-25-025080 ↗ |
| 10-Q | 2025-08-06 | 2025-06-30 | 0001437749-25-025081 ↗ |
| 8-K | 2025-05-07 | 2025-05-07 | 0001437749-25-015131 ↗ |