Hennessy Advisors, Inc. (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 value of $28,868.60. Following the completion of the transaction, the director directly owned 53,027 shares of the company's stock, valued at approximately $567,388.90. This trade represents a 4.84% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website.

Hennessy Advisors Price Performance

NASDAQ HNNA traded up $0.26 during trading on Monday, hitting $10.93. 6,986 shares of the company's stock were exchanged, compared to its average volume of 11,554. The company has a current ratio of 15.58, a quick ratio of 15.58 and a debt-to-equity ratio of 0.41. The company has a market cap of $85.14 million, a PE ratio of 8.74 and a beta of 0.79. Hennessy Advisors, Inc. has a fifty-two week low of $8.43 and a fifty-two week high of $13.88. The stock's 50 day moving average price is $12.00 and its two-hundred day moving average price is $11.20.

Hennessy Advisors (NASDAQ:HNNA - Get Free Report) last issued its earnings results on Wednesday, August 6th. The asset manager reported $0.26 EPS for the quarter. Hennessy Advisors had a return on equity of 10.48% and a net margin of 27.55%.

Hennessy Advisors Dividend Announcement

The firm 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 dividend of $0.1375 per share. The ex-dividend date of this dividend is Wednesday, August 20th. This represents a $0.55 annualized dividend and a yield of 5.0%. Hennessy Advisors's payout ratio is presently 44.00%.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the business. Evergreen Capital Management LLC acquired a new position in Hennessy Advisors during the second quarter worth about $190,000. Bridgeway Capital Management LLC increased its stake in shares of Hennessy Advisors by 6.7% in the second quarter. Bridgeway Capital Management LLC now owns 17,060 shares of the asset manager's stock valued at $215,000 after buying an additional 1,072 shares during the period. Northern Trust Corp increased its stake 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 period. Truffle Hound Capital LLC acquired a new position in shares of Hennessy Advisors in the second quarter valued at approximately $556,000. Finally, Geode Capital Management LLC increased its stake 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 period. Institutional investors and hedge funds own 10.31% of the company's stock.

Analysts Set New Price Targets

Separately, Wall Street Zen raised 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.

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