Hennessy Advisors (NASDAQ:HNNA) Stock: Insider Thomas Seavey Sells 1,875 Shares

Key Points

• Director Thomas Seavey sold 1,875 Hennessy Advisors shares at an average price of $10.15, generating $19,031.25 and reducing his ownership by 3.04% to 59,754 shares.
• HNNA shares recently traded near $10.03, while the company’s latest quarterly results missed expectations: EPS was $0.25 versus $0.37 expected, and revenue was $8.39 million versus $9.96 million forecast.
• Hennessy Advisors maintains a quarterly dividend of $0.15, equivalent to a 6.0% annualized yield; analysts currently have a consensus “Hold” rating.

Hennessy Advisors, Inc. (NASDAQ:HNNA - Get Free Report) Director Thomas Seavey sold 1,875 shares of the company's stock in a transaction that occurred on Thursday, September 24th. The shares were sold at an average price of $10.15, for a total transaction of $19,031.25. Following the completion of the transaction, the director owned 59,754 shares of the company's stock, valued at approximately $606,503.10. This trade represents a 3.04% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink.

Hennessy Advisors Stock Performance

Shares of NASDAQ:HNNA traded down $0.15 during mid-day trading on Monday, reaching $10.03. 9,005 shares of the company's stock were exchanged, compared to its average volume of 9,782. Hennessy Advisors, Inc. has a twelve month low of $8.90 and a twelve month high of $11.02. The firm has a market capitalization of $79.24 million, a price-to-earnings ratio of 9.64 and a beta of 0.58. The business's fifty day moving average price is $10.06 and its 200-day moving average price is $9.99.

Hennessy Advisors (NASDAQ:HNNA - Get Free Report) last announced its earnings results on Wednesday, August 5th. The asset manager reported $0.25 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.37 by ($0.12). Hennessy Advisors had a return on equity of 8.31% and a net margin of 24.77%.The company had revenue of $8.39 million for the quarter, compared to the consensus estimate of $9.96 million.

Hennessy Advisors Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, September 3rd. Investors of record on Thursday, August 20th were paid a $0.15 dividend. This represents a $0.60 dividend on an annualized basis and a dividend yield of 6.0%. The ex-dividend date of this dividend was Thursday, August 20th. Hennessy Advisors's payout ratio is currently 57.69%.

Wall Street Analyst Weigh In

Separately, Weiss Ratings restated a "hold (c)" rating on shares of Hennessy Advisors in a report on Tuesday, September 8th. One analyst has rated the stock with a Hold rating, According to MarketBeat.com, the stock currently has a consensus rating of "Hold".

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the business. Aegis Financial Corp boosted its position in shares of Hennessy Advisors by 20.8% during the 2nd quarter. Aegis Financial Corp now owns 170,768 shares of the asset manager's stock valued at $1,733,000 after purchasing an additional 29,415 shares in the last quarter. Renaissance Technologies LLC lifted its stake in Hennessy Advisors by 4.9% in the first quarter. Renaissance Technologies LLC now owns 100,088 shares of the asset manager's stock valued at $976,000 after buying an additional 4,699 shares during the period. Allworth Financial LP bought a new position in shares of Hennessy Advisors during the 2nd quarter worth approximately $826,000. Perigon Wealth Management LLC acquired a new stake in shares of Hennessy Advisors during the 2nd quarter worth approximately $648,000. Finally, Dimensional Fund Advisors LP increased its stake in shares of Hennessy Advisors by 7.3% in the 1st quarter. Dimensional Fund Advisors LP now owns 52,677 shares of the asset manager's stock valued at $514,000 after acquiring an additional 3,567 shares in the last quarter. 10.31% of the stock is owned by institutional investors.

Hennessy Advisors Company Profile

Hennessy Advisors, Inc is an investment management company that provides advisory services to mutual funds, exchange-traded funds and other investment vehicles. The company develops and manages portfolios for individual and institutional investors, with strategies spanning U.S. equities, financial companies, growth stocks, income-oriented investments and other specialized areas.

Through the Hennessy Funds family, the company offers a range of actively managed and index-oriented investment products.

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