Hennessy Advisors, Inc. Declares Quarterly Dividend of $0.14 (NASDAQ:HNNA)

Key Points

• Hennessy Advisors, Inc. announced a quarterly dividend of $0.14 per share, with shareholders of record receiving it on September 4th, translating to an annualized dividend yield of 4.7%.
• The company's stock has recently experienced a decline of 4.5%, trading at $11.80, with a market capitalization of $91.87 million.
• Insider trading activity is noted, as CFO Kathryn Fahy sold 10,000 shares, reducing her holdings by 13.48%.

Hennessy Advisors, Inc. (NASDAQ:HNNA - Get Free Report) announced a quarterly dividend on Thursday, August 7th, Wall Street Journal reports. Shareholders of record on Wednesday, August 20th will be given a dividend of 0.1375 per share by the asset manager on Thursday, September 4th. This represents a c) annualized dividend and a dividend yield of 4.7%. The ex-dividend date is Wednesday, August 20th.

Hennessy Advisors Stock Down 4.5%

Shares of Hennessy Advisors stock traded down $0.55 on Thursday, reaching $11.80. The stock had a trading volume of 28,828 shares, compared to its average volume of 11,231. Hennessy Advisors has a 1 year low of $8.25 and a 1 year high of $13.88. The company has a 50 day moving average price of $12.02 and a 200 day moving average price of $11.28. 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 stock has a market capitalization of $91.87 million, a P/E ratio of 9.44 and a beta of 0.79.

Hennessy Advisors (NASDAQ:HNNA - Get Free Report) last announced its earnings results on Wednesday, August 6th. The asset manager reported $0.26 earnings per share for the quarter. Hennessy Advisors had a return on equity of 10.57% and a net margin of 27.50%.

Insider Activity at Hennessy Advisors

In other Hennessy Advisors news, CFO Kathryn Fahy sold 10,000 shares of the business's stock in a transaction that occurred on 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 in the company, valued at $687,699.81. The trade was a 13.48% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Corporate insiders own 37.40% of the company's stock.

Hedge Funds Weigh In On Hennessy Advisors

Large investors have recently bought and sold shares of the stock. Quinn Opportunity Partners LLC purchased a new position in shares of Hennessy Advisors during the 4th quarter worth approximately $139,000. Northern Trust Corp raised its holdings in shares of Hennessy Advisors by 63.8% in the 4th quarter. Northern Trust Corp now owns 34,432 shares of the asset manager's stock worth $439,000 after purchasing an additional 13,407 shares during the period. Geode Capital Management LLC increased 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 worth $604,000 after acquiring an additional 2,400 shares in the last quarter. Redhawk Wealth Advisors Inc. grew its stake in shares of Hennessy Advisors by 27.3% in the first quarter. Redhawk Wealth Advisors Inc. now owns 67,396 shares of the asset manager's stock valued at $671,000 after buying an additional 14,460 shares in the last quarter. Finally, Allworth Financial LP boosted its stake in shares of Hennessy Advisors by 202.5% in the first quarter. Allworth Financial LP now owns 81,380 shares of the asset manager's stock valued at $859,000 after purchasing an additional 54,480 shares during the period. Institutional investors and hedge funds own 10.31% 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.

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