Hennessy Advisors, Inc. (NASDAQ:HNNA) Shares Acquired by Allworth Financial LP

Allworth Financial LP increased its stake in Hennessy Advisors, Inc. (NASDAQ:HNNA - Free Report) by 202.5% in the first quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 81,380 shares of the asset manager's stock after buying an additional 54,480 shares during the quarter. Allworth Financial LP owned about 1.05% of Hennessy Advisors worth $859,000 as of its most recent filing with the SEC.

A number of other large investors have also modified their holdings of the stock. Quinn Opportunity Partners LLC acquired a new stake in Hennessy Advisors during the 4th quarter valued at approximately $139,000. Northern Trust Corp grew its stake in Hennessy Advisors by 63.8% during the 4th quarter. Northern Trust Corp now owns 34,432 shares of the asset manager's stock valued at $439,000 after purchasing an additional 13,407 shares in the last quarter. Geode Capital Management LLC grew its stake in Hennessy Advisors by 5.3% during the 4th quarter. Geode Capital Management LLC now owns 47,779 shares of the asset manager's stock valued at $604,000 after purchasing an additional 2,400 shares in the last quarter. Finally, Redhawk Wealth Advisors Inc. grew its stake in Hennessy Advisors by 27.3% during the 1st 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. Institutional investors and hedge funds own 10.31% of the company's stock.

Hennessy Advisors Stock Performance

NASDAQ:HNNA traded down $0.08 during trading hours on Tuesday, reaching $12.12. 2,200 shares of the stock were exchanged, compared to its average volume of 12,477. The company has a quick ratio of 17.79, a current ratio of 17.79 and a debt-to-equity ratio of 0.42. The firm has a 50 day simple moving average of $11.36 and a 200-day simple moving average of $11.24. Hennessy Advisors, Inc. has a 52 week low of $7.48 and a 52 week high of $13.88. The stock has a market capitalization of $94.41 million, a P/E ratio of 9.70 and a beta of 0.77.

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

Hennessy Advisors Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, June 4th. Shareholders of record on Tuesday, May 20th were issued a dividend of $0.1375 per share. This represents a $0.55 dividend on an annualized basis and a yield of 4.54%. The ex-dividend date of this dividend was Tuesday, May 20th. Hennessy Advisors's dividend payout ratio is presently 44.00%.

Insider Buying and Selling

In other Hennessy Advisors news, CFO Kathryn Fahy sold 10,000 shares of the stock in a transaction that occurred on Tuesday, May 13th. The stock was sold at an average price of $10.71, for a total transaction of $107,100.00. Following 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 position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. 37.40% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

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

About Hennessy Advisors

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.