Hennessy Advisors (NASDAQ:HNNA) CFO Kathryn Fahy Sells 10,000 Shares of Stock

Hennessy Advisors, Inc. (NASDAQ:HNNA) CFO Kathryn Fahy sold 10,000 shares of the stock in a transaction on Monday, May 11th. The shares were 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 position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link.

Hennessy Advisors Stock Up 0.3%

HNNA stock opened at $10.19 on Wednesday. The business’s fifty day moving average is $9.85 and its 200-day moving average is $9.90. The company has a market cap of $80.50 million, a P/E ratio of 9.70 and a beta of 0.59. Hennessy Advisors, Inc. has a twelve month low of $8.90 and a twelve month high of $13.19.

Hennessy Advisors (NASDAQ:HNNA) last posted its quarterly earnings results on Wednesday, May 6th. The asset manager reported $0.24 earnings per share for the quarter, missing analysts’ consensus estimates of $0.33 by ($0.09). The company had revenue of $8.13 million during the quarter, compared to analyst estimates of $9.61 million. Hennessy Advisors had a net margin of 25.40% and a return on equity of 8.53%.

Hennessy Advisors Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, June 4th. Stockholders of record on Thursday, May 21st will be paid a $0.15 dividend. The ex-dividend date of this dividend is Thursday, May 21st. This represents a $0.60 dividend on an annualized basis and a dividend yield of 5.9%. Hennessy Advisors’s dividend payout ratio is 57.14%.

Institutional Trading of Hennessy Advisors

Large investors have recently made changes to their positions in the company. Empowered Funds LLC increased its position 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 valued at $127,000 after buying an additional 1,678 shares in the last quarter. Evergreen Capital Management LLC bought a new stake in shares of Hennessy Advisors in the 2nd quarter valued at $190,000. Bridgeway Capital Management LLC increased its position in shares of Hennessy Advisors by 9.1% in the 4th quarter. Bridgeway Capital Management LLC now owns 20,192 shares of the asset manager’s stock valued at $194,000 after buying an additional 1,678 shares in the last quarter. Citadel Advisors LLC bought a new stake in shares of Hennessy Advisors in the 3rd quarter valued at $218,000. Finally, Susquehanna International Group LLP increased its position in shares of Hennessy Advisors by 108.5% in the 3rd quarter. Susquehanna International Group LLP now owns 26,553 shares of the asset manager’s stock valued at $280,000 after buying an additional 13,819 shares in the last quarter. Institutional investors own 10.31% of the company’s stock.

Analyst Ratings Changes

Separately, Weiss Ratings reissued a “hold (c+)” rating on shares of Hennessy Advisors in a research note on Friday, March 27th. One equities research analyst has rated the stock with a Hold rating, According to MarketBeat, the stock presently has an average rating of “Hold”.

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.