Thomas L. Seavey Sells 2,603 Shares of Hennessy Advisors (NASDAQ:HNNA) 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 that occurred on Friday, August 15th. The shares were sold at an average price of $10.63, for a total transaction of $27,669.89. Following the transaction, the director owned 50,424 shares of the company's stock, valued at approximately $536,007.12. This represents a 4.91% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website.

Hennessy Advisors Trading Up 1.4%

NASDAQ HNNA traded up $0.1560 during trading on Friday, reaching $11.1760. 3,685 shares of the stock traded hands, compared to its average volume of 11,560. The firm has a market cap of $87.06 million, a price-to-earnings ratio of 8.94 and a beta of 0.79. The stock's 50-day moving average price is $12.01 and its 200 day moving average price is $11.17. The company has a quick ratio of 15.58, a current ratio of 15.58 and a debt-to-equity ratio of 0.41. Hennessy Advisors, Inc. has a fifty-two week low of $8.43 and a fifty-two 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 earnings per share (EPS) for the quarter. Hennessy Advisors had a net margin of 27.55% and a return on equity of 10.48%.

Hennessy Advisors Announces Dividend

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

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the stock. Evergreen Capital Management LLC acquired a new position in shares of Hennessy Advisors in the second quarter valued at approximately $190,000. Bridgeway Capital Management LLC boosted its holdings 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. Truffle Hound Capital LLC acquired a new position in shares of Hennessy Advisors in the second quarter valued at approximately $556,000. Geode Capital Management LLC boosted its holdings in shares of Hennessy Advisors by 2.0% in the second quarter. Geode Capital Management LLC now owns 51,894 shares of the asset manager's stock valued at $654,000 after buying an additional 1,014 shares during the period. Finally, Redhawk Wealth Advisors Inc. boosted its holdings in shares of Hennessy Advisors by 1.8% in the second quarter. Redhawk Wealth Advisors Inc. now owns 68,600 shares of the asset manager's stock valued at $864,000 after buying an additional 1,204 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 upgraded shares of Hennessy Advisors to a "buy" rating in a report 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.