Allworth Financial LP Boosts Holdings in Hennessy Advisors, Inc. (NASDAQ:HNNA)

Allworth Financial LP lifted its position in Hennessy Advisors, Inc. (NASDAQ:HNNA - Free Report) by 202.5% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 81,380 shares of the asset manager's stock after purchasing an additional 54,480 shares during the period. Allworth Financial LP owned about 1.05% of Hennessy Advisors worth $859,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors have also recently made changes to their positions in the company. Redhawk Wealth Advisors Inc. lifted its holdings in Hennessy Advisors by 27.3% during the first quarter. Redhawk Wealth Advisors Inc. now owns 67,396 shares of the asset manager's stock valued at $671,000 after purchasing an additional 14,460 shares in the last quarter. Northern Trust Corp raised its position in shares of Hennessy Advisors by 63.8% in the fourth quarter. Northern Trust Corp now owns 34,432 shares of the asset manager's stock valued at $439,000 after buying an additional 13,407 shares during the last quarter. Quinn Opportunity Partners LLC acquired a new stake in shares of Hennessy Advisors in the fourth quarter valued at about $139,000. Finally, Geode Capital Management LLC raised its position in shares of Hennessy Advisors by 5.3% in the fourth quarter. Geode Capital Management LLC now owns 47,779 shares of the asset manager's stock valued at $604,000 after buying an additional 2,400 shares during the last quarter. 10.31% of the stock is currently owned by institutional investors and hedge funds.

Hennessy Advisors Price Performance

Shares of NASDAQ HNNA traded up $0.42 during mid-day trading on Thursday, reaching $12.72. The company's stock had a trading volume of 6,268 shares, compared to its average volume of 12,407. The stock has a 50-day moving average of $11.44 and a two-hundred day moving average of $11.25. The stock has a market capitalization of $99.09 million, a P/E ratio of 10.18 and a beta of 0.77. The company has a debt-to-equity ratio of 0.42, a quick ratio of 17.79 and a current ratio of 17.79. Hennessy Advisors, Inc. has a 1-year low of $7.65 and a 1-year high of $13.88.

Hennessy Advisors (NASDAQ:HNNA - Get Free Report) last released its quarterly earnings data on Wednesday, May 7th. The asset manager reported $0.33 earnings per share (EPS) for the quarter. Hennessy Advisors had a net margin of 27.50% and a return on equity of 10.57%. The firm had revenue of $9.28 million during the quarter.

Hennessy Advisors Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, June 4th. Investors of record on Tuesday, May 20th were given a dividend of $0.1375 per share. This represents a $0.55 annualized dividend and a yield of 4.32%. The ex-dividend date of this dividend was Tuesday, May 20th. Hennessy Advisors's payout ratio is currently 44.00%.

Wall Street Analysts Forecast Growth

Separately, Wall Street Zen upgraded shares of Hennessy Advisors to a "buy" rating in a research report on Thursday, May 22nd.

Insider Transactions at Hennessy Advisors

In other Hennessy Advisors news, CFO Kathryn Fahy sold 10,000 shares of the stock in a transaction dated Tuesday, May 13th. The shares were sold at an average price of $10.71, for a total transaction of $107,100.00. Following the completion of the transaction, the chief financial officer owned 64,211 shares of the company's stock, valued at $687,699.81. This trade represents a 13.48% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Insiders own 37.40% of the company's stock.

Hennessy Advisors Company Profile

Hennessy Advisors, Inc is an employee owned investment manager. It provides its services to Hennessy Funds and investment companies. The firm launches and manages equity, fixed income, and balanced mutual funds. It invests in the public equity and fixed income markets across the globe. The firm primarily invests in growth stocks of companies.