Hennessy Advisors (NASDAQ:HNNA) Director Sells $19,031.25 in Stock

Hennessy Advisors, Inc. (NASDAQ:HNNA) Director Thomas Seavey sold 1,875 shares of Hennessy Advisors stock in a transaction dated Thursday, September 24th. The stock was sold at an average price of $10.15, for a total transaction of $19,031.25. Following the sale, 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 filing with the Securities & Exchange Commission, which is available at this link.

Hennessy Advisors Stock Performance

Shares of HNNA opened at $10.03 on Thursday. Hennessy Advisors, Inc. has a 1 year low of $8.90 and a 1 year high of $11.02. The company’s 50 day simple moving average is $10.07 and its 200 day simple moving average is $9.99. The company has a market capitalization of $79.24 million, a price-to-earnings ratio of 9.64 and a beta of 0.58.

Hennessy Advisors (NASDAQ:HNNA) last released its earnings results on Wednesday, August 5th. The asset manager reported $0.25 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 firm had revenue of $8.39 million during the quarter, compared to analysts’ expectations of $9.96 million.

Hennessy Advisors Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, September 3rd. Investors of record on Thursday, August 20th were given a dividend of $0.15 per share. The ex-dividend date was Thursday, August 20th. This represents a $0.60 annualized dividend and a yield of 6.0%. Hennessy Advisors’s dividend payout ratio is 57.69%.

Wall Street Analyst Weigh In

Separately, Weiss Ratings reaffirmed a “hold (c)” rating on shares of Hennessy Advisors in a research note on Tuesday, September 8th. One analyst has rated the stock with a Hold rating, According to data from MarketBeat, the company has a consensus rating of “Hold”.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the company. Empowered Funds LLC boosted its holdings in Hennessy Advisors by 13.8% in the first quarter. Empowered Funds LLC now owns 15,011 shares of the asset manager’s stock valued at $146,000 after acquiring an additional 1,819 shares during the last quarter. Bank of America Corp DE acquired a new stake in Hennessy Advisors during the second quarter worth about $154,000. BlackRock Inc. purchased a new position in shares of Hennessy Advisors in the 2nd quarter worth about $201,000. Concurrent Investment Advisors LLC raised its holdings in shares of Hennessy Advisors by 103.0% in the 2nd quarter. Concurrent Investment Advisors LLC now owns 21,396 shares of the asset manager’s stock worth $217,000 after purchasing an additional 10,857 shares during the period. Finally, Susquehanna International Group LLP lifted its stake in shares of Hennessy Advisors by 5.8% in the 2nd quarter. Susquehanna International Group LLP now owns 21,611 shares of the asset manager’s stock valued at $219,000 after purchasing an additional 1,187 shares in the last quarter. 10.31% of the stock is owned by hedge funds and other 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.