Hennessy Advisors, Inc.

Hennessy Advisors, Inc.

Hennessy Advisors, Inc.

Overview
Date Founded

1989

Headquarters

7250 Redwood Boulevard, Suite 200, Novato, CA, 94945, USA

Type of Company

Public

Employees (Worldwide)

21

Industries

Investment Services & Portfolio Management

Company Description

Hennessy Advisors, Inc. engages in managing, servicing and marketing open-end mutual funds branded as the Hennessy Funds. It manages domestic equity, multi-asset, or sector and specialty products. The company was founded on February 1, 1989 and is headquartered in Novato, CA.

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Executives & Employees

President

Chief Financial Officer, Senior Vice President & Principal Accounting Officer

Chief Compliance Officer & Senior Vice President

Director & Executive Vice President, Executive Vice President & Secretary of the Hennessy Funds

General Counsel

Director & Shareholder

Director & Shareholder

Director & Shareholder

Director & Shareholder

Board of Directors

Founder at Hennessy Advisors, Inc.

Former Managing Partner at RPM Mortgage, Inc.

President at Hennessy Advisors, Inc.

Director & Shareholder at Hennessy Advisors, Inc.

Director & Shareholder at Hennessy Advisors, Inc.

Director & Shareholder at Hennessy Advisors, Inc.

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Owners & Shareholders
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Perritt Capital Management (PCM) specializes in small-cap investment strategies for individual and institutional investors. Though not limited by sector, the firm tends to invest in the stocks of US small-cap companies in the electronic technology, industrial services and healthcare services sectors. PCM maintains a very low turnover rate.The firm offers a small-cap strategy to institutional clients that seek above average long-term investment returns. The Perritt Smaller Company strategy seeks to capture the benefits of investing in fundamentally sound, small-cap companies through bottom-up, fundamental stock selection. Their investment selection process begins with a universe of approximately 5,000 publicly-traded companies with market-cap of $50 million to $500 million. PCM's investment ideas are derived from a variety of sources, including in-house fundamental research and relationships with research firms and regional brokers. Ideas are subjected to a 9-step assessment that is based on investment fundamentals including strong balance sheets, positive cash flows and expanding profitability. Companies that meet these criteria are then qualitatively analyzed through discussions with operating management and additional in-house research. The firm seeks to identify companies with niche businesses, competitive advantages, strong market shares and proven management teams. Final selections are based on a set of valuation metrics targeting upward trends in revenue and cash flow, positive earnings and long-term growth potential . Sell decisions are based on valuations, weakened fundamentals or a market-cap approaching $1.5 billion. PCM maintains a diversified portfolio of long-term holdings. The portfolio invests in the stocks of 100 or more companies across all industries and sectors. Positions generally range from .5% to 1.5% of the portfolio's assets and may be reduced if they exceed 3%. Investment time horizons are 3 to 5 years and the portfolio strives to keep turnover low, averaging 20% to 30% annually.PCM's mutual funds seek to capitalize on investments in small-cap companies through the use of bottom-up, fundamental stock selection. The firm believes that investments in fundamentally and financially sound small-cap companies can enhance growth potential and decrease downside risk.The Perritt MicroCap Opportunities Fund invests in a diversified portfolio of the stocks of companies with market-cap of $500 million or less. The fund invests in micro-cap companies that have the potential for long-term capital appreciation based on superior or niche products or services, favorable operating characteristics, superior management teams and/or other exceptional factors. The fund invests in a mix of both value and growth stocks.The Perritt Emerging Opportunities Fund invests in a diversified portfolio of the stocks of companies with market-cap of $300 million or less. The fund invests in very small companies that have a significant percentage of stock owned by management, low levels of long-term debt, above average revenue and earnings growth rates that possess reasonable valuations based on the ratios of price-to-sales, price-to-earnings and price-to-book values.PCM offers separately managed accounts for investors using asset allocation and/or small-cap equity strategies.

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Osmium Partners employs a strategic value investment approach that focuses on investments in superior, neglected, undiscovered small-cap companies that can be purchased at reasonable prices. Osmium Partners is an activist firm and is included in the SharkWatch50 as one the 50 most prominent activist investors.

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Osmium Partners employs a strategic value investment approach that focuses on investments in superior, neglected, undiscovered small-cap companies that can be purchased at reasonable prices. Osmium Partners is an activist firm and is included in the SharkWatch50 as one the 50 most prominent activist investors.

Recent Transactions
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Hennessy Advisors, Inc. purchases Westport Advisers LLC from Westport Asset Management, Inc.

Transaction Advisors
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Advised onHennessy Advisors, Inc. purchases Westport Advisers LLC from Westport Asset Management, Inc.

Legal Advisor

Advised onHennessy Advisors, Inc. purchases Westport Advisers LLC from Westport Asset Management, Inc.

Key Stats and Financials As of 2019
Market Capitalization
$78.3M
Total Enterprise Value
$76.7M
Earnings Per Share
$1.42
Revenue
$42.7M
Net Profit
$11M
EBITDA
$16.2M
EBITDAMargin
38.03%
Total Debt
$17.4M
Total Equity
$75.5M
Enterprise Value Sales
1.8x
Enterprise Value EBITDAOperating
4.72x
TEVNet Income
6.95x
Debt TEV
0.23x
Political Donations
$3,000
2010
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