Insider Selling: Hennessy Advisors, Inc. (NASDAQ:HNNA) Director Sells 2,603 Shares of Stock

Key Points

• Director Thomas L. Seavey of Hennessy Advisors, Inc. sold 2,603 shares at an average price of $10.63, reducing his ownership by 4.91%.
• The company's stock has experienced a 2.4% increase, reaching $10.93, with a market cap of $85.14 million.
• Hennessy Advisors declared a quarterly dividend of $0.1375 per share, resulting in a 5.0% dividend yield and a payout ratio of 44.00%.

Hennessy Advisors, Inc. (NASDAQ:HNNA - Get Free Report) Director Thomas L. Seavey sold 2,603 shares of the business's stock in a transaction on Friday, August 15th. The stock was sold at an average price of $10.63, for a total value of $27,669.89. Following the transaction, the director directly owned 50,424 shares of the company's stock, valued at $536,007.12. The trade was a 4.91% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website.

Hennessy Advisors Stock Up 2.4%

HNNA traded up $0.26 on Monday, hitting $10.93. 6,986 shares of the company were exchanged, compared to its average volume of 11,554. Hennessy Advisors, Inc. has a twelve month low of $8.43 and a twelve month high of $13.88. The company has a market cap of $85.14 million, a price-to-earnings ratio of 8.74 and a beta of 0.79. 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 firm has a 50-day moving average price of $12.00 and a two-hundred day moving average price of $11.20.

Hennessy Advisors (NASDAQ:HNNA - Get Free Report) last released 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 Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, September 4th. Stockholders of record on Wednesday, August 20th will be given a dividend of $0.1375 per share. This represents a $0.55 annualized dividend and a dividend yield of 5.0%. The ex-dividend date of this dividend is Wednesday, August 20th. Hennessy Advisors's dividend payout ratio is currently 44.00%.

Wall Street Analysts Forecast Growth

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

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the business. Allworth Financial LP boosted its position in shares of Hennessy Advisors by 202.5% during the 1st quarter. Allworth Financial LP now owns 81,380 shares of the asset manager's stock worth $859,000 after acquiring an additional 54,480 shares in the last quarter. Northern Trust Corp boosted its position in shares of Hennessy Advisors by 63.8% during the 4th quarter. Northern Trust Corp now owns 34,432 shares of the asset manager's stock worth $439,000 after acquiring an additional 13,407 shares in the last quarter. Redhawk Wealth Advisors Inc. boosted its position in shares of Hennessy Advisors by 27.3% during the 1st quarter. Redhawk Wealth Advisors Inc. now owns 67,396 shares of the asset manager's stock worth $671,000 after acquiring an additional 14,460 shares in the last quarter. Geode Capital Management LLC boosted its position in shares of Hennessy Advisors by 5.3% during the 4th 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. Finally, Bridgeway Capital Management LLC boosted its position in shares of Hennessy Advisors by 6.7% during the 2nd quarter. Bridgeway Capital Management LLC now owns 17,060 shares of the asset manager's stock worth $215,000 after acquiring an additional 1,072 shares in the last quarter. 10.31% of the stock is owned by institutional investors and hedge funds.

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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