Hennessy Advisors (NASDAQ:HNNA) Director Thomas L. Seavey Sells 7,704 Shares

Key Points

• Hennessy Advisors, Inc. Director Thomas L. Seavey sold 7,704 shares for a total of $82,509.84, reducing his ownership by 12.15%.
• The company has announced a quarterly dividend of $0.1375, representing an annualized yield of 5.1%, to be paid on September 4th.
• Analysts recently upgraded Hennessy Advisors' rating to "buy", reflecting positive sentiment about the company's performance and future prospects.

Hennessy Advisors, Inc. (NASDAQ:HNNA - Get Free Report) Director Thomas L. Seavey sold 7,704 shares of the company's stock in a transaction on Wednesday, August 13th. The stock was sold at an average price of $10.71, for a total value of $82,509.84. Following the transaction, the director owned 55,725 shares of the company's stock, valued at approximately $596,814.75. The trade was a 12.15% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.

Hennessy Advisors Stock Performance

HNNA traded up $0.17 during trading on Tuesday, reaching $11.10. 7,520 shares of the company were exchanged, compared to its average volume of 11,506. The stock has a market cap of $86.45 million, a P/E ratio of 8.88 and a beta of 0.79. The firm has a 50 day moving average of $12.00 and a 200 day moving average of $11.19. The company has a current ratio of 15.58, a quick ratio of 15.58 and a debt-to-equity ratio of 0.41. Hennessy Advisors, Inc. has a 52 week low of $8.43 and a 52 week high of $13.88.

Hennessy Advisors (NASDAQ:HNNA - Get Free Report) last issued its quarterly earnings data 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 declared a quarterly dividend, which will be paid on Thursday, September 4th. Stockholders 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 annualized dividend and a dividend yield of 5.0%. Hennessy Advisors's dividend payout ratio is presently 44.00%.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of HNNA. Geode Capital Management LLC boosted its stake in Hennessy Advisors by 5.3% during 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 in the last quarter. Northern Trust Corp boosted its stake in Hennessy Advisors by 63.8% during 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 in the last quarter. Redhawk Wealth Advisors Inc. boosted its stake 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 buying an additional 14,460 shares in the last quarter. Allworth Financial LP boosted its stake in Hennessy Advisors by 202.5% during the first quarter. Allworth Financial LP now owns 81,380 shares of the asset manager's stock valued at $859,000 after buying an additional 54,480 shares in the last quarter. Finally, Truffle Hound Capital LLC bought a new position in Hennessy Advisors during the second quarter valued at about $556,000. Institutional investors own 10.31% of the company's stock.

Analyst Ratings Changes

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

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.