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HNNA - Hennessy Advisors: A Cheap Bet On The Rebound Of Active Management
Hennessy Advisors Inc.
Hennessy Advisors (HNNA) is an investment manager of the Hennessy Funds' low-cost mutual funds. The small company is worth around $75 million and has been in business since 1989, accumulating total AUM of just under $5 billion.
The stock is cheap with a P/E of about 7.6X and essentially no debt, giving it an incredibly low EV/EBIT of 4.5X. While this may seem like a major buying signal, there is a reason why the company is so cheap. Its revenue has declined considerably in recent years due to a drop in AUM in