Hennessy Advisors, Inc. (NASDAQ:HNNA) VP Daniel B. Steadman Sells 1,000 Shares

Hennessy Advisors, Inc. (NASDAQ:HNNA) VP Daniel B. Steadman sold 1,000 shares of the business’s stock in a transaction dated Monday, December 30th. The shares were sold at an average price of $11.90, for a total value of $11,900.00. Following the completion of the sale, the vice president now owns 33,432 shares in the company, valued at approximately $397,840.80. This trade represents a 2.90 % 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 Up 6.6 %

Shares of Hennessy Advisors stock opened at $12.75 on Thursday. The firm has a market cap of $99.20 million, a PE ratio of 13.86 and a beta of 0.80. The business’s 50 day simple moving average is $11.18 and its 200 day simple moving average is $9.74. The company has a debt-to-equity ratio of 0.43, a quick ratio of 17.39 and a current ratio of 13.78. Hennessy Advisors, Inc. has a 52-week low of $6.38 and a 52-week high of $13.88.

Hennessy Advisors Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, November 27th. Stockholders of record on Thursday, November 14th were given a $0.138 dividend. This represents a $0.55 dividend on an annualized basis and a dividend yield of 4.33%. The ex-dividend date was Thursday, November 14th. Hennessy Advisors’s dividend payout ratio is presently 59.78%.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the business. Geode Capital Management LLC grew its stake in Hennessy Advisors by 35.5% in the third quarter. Geode Capital Management LLC now owns 45,379 shares of the asset manager’s stock valued at $452,000 after purchasing an additional 11,877 shares in the last quarter. Redhawk Wealth Advisors Inc. bought a new stake in Hennessy Advisors during the third quarter worth $518,000. Finally, Renaissance Technologies LLC lifted its stake in Hennessy Advisors by 1.9% in the second quarter. Renaissance Technologies LLC now owns 95,588 shares of the asset manager’s stock valued at $681,000 after acquiring an additional 1,813 shares during the last quarter. Institutional investors own 10.31% of the company’s stock.

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.