Hennessy Advisors (NASDAQ:HNNA) Director Sells $28,868.60 in Stock

Key Points

• Director Thomas L. Seavey of Hennessy Advisors, Inc. sold 2,698 shares of the company's stock for a total value of $28,868.60, resulting in a 4.84% decrease in his position.
• Hennessy Advisors announced a quarterly dividend of $0.1375 per share, with an ex-dividend date of August 20th, representing a 5.0% yield.
• Institutional investors recently increased their holdings in Hennessy Advisors, with notable acquisitions from Evergreen Capital Management and Northern Trust Corp, showcasing growing interest in the company.

Hennessy Advisors, Inc. (NASDAQ:HNNA - Get Free Report) Director Thomas L. Seavey sold 2,698 shares of the business's stock in a transaction dated Thursday, August 14th. The shares were sold at an average price of $10.70, for a total transaction of $28,868.60. Following the completion of the transaction, the director owned 53,027 shares in the company, valued at approximately $567,388.90. This trade represents a 4.84% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website.

Hennessy Advisors Price Performance

Shares of NASDAQ HNNA traded up $0.1560 during trading on Friday, reaching $11.1760. The company had a trading volume of 3,685 shares, compared to its average volume of 11,560. Hennessy Advisors, Inc. has a 52 week low of $8.43 and a 52 week high of $13.88. The stock has a market cap of $87.06 million, a PE ratio of 8.94 and a beta of 0.79. The company has a debt-to-equity ratio of 0.41, a quick ratio of 15.58 and a current ratio of 15.58. The business's 50 day moving average price is $12.01 and its 200-day moving average price is $11.17.

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 net margin of 27.55% and a return on equity of 10.48%.

Hennessy Advisors Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, September 4th. Shareholders of record on Wednesday, August 20th will be paid a $0.1375 dividend. The ex-dividend date of this dividend is Wednesday, August 20th. This represents a $0.55 dividend on an annualized basis and a dividend yield of 4.9%. Hennessy Advisors's payout ratio is currently 44.00%.

Analyst Upgrades and Downgrades

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

Institutional Investors Weigh In On Hennessy Advisors

Institutional investors and hedge funds have recently modified their holdings of the business. Evergreen Capital Management LLC bought a new stake in shares of Hennessy Advisors during the second quarter worth approximately $190,000. Bridgeway Capital Management LLC raised its stake in shares of Hennessy Advisors by 6.7% during the second quarter. Bridgeway Capital Management LLC now owns 17,060 shares of the asset manager's stock worth $215,000 after buying an additional 1,072 shares during the last quarter. Northern Trust Corp raised its stake in shares of Hennessy Advisors by 63.8% during the fourth quarter. Northern Trust Corp now owns 34,432 shares of the asset manager's stock worth $439,000 after buying an additional 13,407 shares during the last quarter. Truffle Hound Capital LLC bought a new stake in shares of Hennessy Advisors during the second quarter worth approximately $556,000. Finally, Geode Capital Management LLC raised its stake in shares of Hennessy Advisors by 5.3% during the fourth quarter. Geode Capital Management LLC now owns 47,779 shares of the asset manager's stock worth $604,000 after buying an additional 2,400 shares during the last quarter. 10.31% of the stock is owned by institutional investors.

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.