Hennessy Advisors, Inc. (NASDAQ:HNNA) Declares $0.15 Quarterly Dividend

Hennessy Advisors, Inc. (NASDAQ:HNNA) declared a quarterly dividend on Wednesday, August 5th. Shareholders of record on Thursday, August 20th will be given a dividend of 0.15 per share by the asset manager on Thursday, September 3rd. This represents a c) annualized dividend and a yield of 6.1%. The ex-dividend date is Thursday, August 20th.

Hennessy Advisors Stock Performance

HNNA opened at $9.85 on Thursday. Hennessy Advisors has a fifty-two week low of $8.90 and a fifty-two week high of $13.00. The stock has a fifty day moving average of $9.99 and a 200-day moving average of $9.98. The company has a market capitalization of $77.81 million, a P/E ratio of 9.38 and a beta of 0.59.

Hennessy Advisors (NASDAQ:HNNA) last issued its quarterly 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). The company had revenue of $8.39 million during the quarter, compared to the consensus estimate of $9.96 million. Hennessy Advisors had a net margin of 25.40% and a return on equity of 8.53%.

Insider Transactions at Hennessy Advisors

In other Hennessy Advisors news, CFO Kathryn Fahy sold 10,000 shares of the stock in a transaction dated Monday, May 11th. The stock was sold at an average price of $10.00, for a total value of $100,000.00. Following the completion of the transaction, the chief financial officer directly owned 60,689 shares in the company, valued at approximately $606,890. This trade represents a 14.15% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 36.00% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Hennessy Advisors

Institutional investors have recently added to or reduced their stakes in the business. Geode Capital Management LLC increased its stake in 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 purchasing an additional 1,014 shares in the last quarter. Bridgeway Capital Management LLC boosted its holdings in Hennessy Advisors by 6.7% in the second 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. Dimensional Fund Advisors LP increased its holdings in shares of Hennessy Advisors by 2.7% during the fourth quarter. Dimensional Fund Advisors LP now owns 49,110 shares of the asset manager’s stock valued at $471,000 after acquiring an additional 1,282 shares in the last quarter. Empowered Funds LLC lifted its holdings in shares of Hennessy Advisors by 14.6% in the 4th quarter. Empowered Funds LLC now owns 13,192 shares of the asset manager’s stock worth $127,000 after purchasing an additional 1,678 shares in the last quarter. Finally, Renaissance Technologies LLC grew its position in Hennessy Advisors by 4.9% in the 1st quarter. Renaissance Technologies LLC now owns 100,088 shares of the asset manager’s stock valued at $976,000 after purchasing an additional 4,699 shares during the period. 10.31% of the stock is owned by institutional investors.

About Hennessy Advisors

Hennessy Advisors, Inc is an investment advisory firm specializing in the management of closed-end and open-end funds, as well as separate account strategies. Serving as the investment adviser to a family of publicly traded closed-end funds and a series of mutual funds, the company focuses on generating income and total return for its shareholders by deploying a range of equity and fixed-income strategies. Hennessy Advisors is registered with the U.S. Securities and Exchange Commission and operates under the Investment Advisers Act of 1940.

The firm’s product lineup includes multiple closed-end funds that invest in U.S.