Hennessy Advisors, Inc. (NASDAQ:HNNA - Get Free Report) Director Thomas L. Seavey sold 7,000 shares of the firm's stock in a transaction that occurred on Tuesday, August 12th. The shares were sold at an average price of $10.85, for a total value of $75,950.00. Following the completion of the sale, the director directly owned 63,429 shares in the company, valued at $688,204.65. This trade represents a 9.94% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink.
Hennessy Advisors Stock Performance
HNNA traded up $0.17 during midday trading on Tuesday, reaching $11.10. The company's stock had a trading volume of 7,520 shares, 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 company has a fifty day simple moving average of $12.00 and a 200 day simple 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 twelve month low of $8.43 and a twelve month high of $13.88.
Hennessy Advisors (NASDAQ:HNNA - Get Free Report) last released its earnings results on Wednesday, August 6th. The asset manager reported $0.26 earnings per share (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 company also recently disclosed a quarterly dividend, which will be paid on Thursday, September 4th. Shareholders of record on Wednesday, August 20th will be given a $0.1375 dividend. The ex-dividend date is Wednesday, August 20th. This represents a $0.55 dividend on an annualized basis and a dividend yield of 5.0%. Hennessy Advisors's dividend payout ratio (DPR) is currently 44.00%.
Wall Street Analysts Forecast Growth
Separately, Wall Street Zen upgraded Hennessy Advisors to a "buy" rating in a research report on Thursday, May 22nd.
Check Out Our Latest Research Report on HNNA
Hedge Funds Weigh In On Hennessy Advisors
Several hedge funds and other institutional investors have recently modified their holdings of the stock. Evergreen Capital Management LLC bought a new position in shares of Hennessy Advisors during the 2nd quarter worth approximately $190,000. Bridgeway Capital Management LLC lifted 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 buying an additional 1,072 shares during the period. Truffle Hound Capital LLC bought a new position in shares of Hennessy Advisors during the 2nd quarter worth approximately $556,000. Geode Capital Management LLC lifted its position in shares of Hennessy Advisors by 2.0% during the 2nd quarter. Geode Capital Management LLC now owns 51,894 shares of the asset manager's stock worth $654,000 after buying an additional 1,014 shares during the period. Finally, Redhawk Wealth Advisors Inc. lifted its position in shares of Hennessy Advisors by 1.8% during the 2nd quarter. Redhawk Wealth Advisors Inc. now owns 68,600 shares of the asset manager's stock worth $864,000 after buying an additional 1,204 shares during the period. Institutional investors own 10.31% of the company's stock.
About Hennessy Advisors
(
Get Free Report)
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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