47,428 Shares in Hennessy Advisors, Inc. (NASDAQ:HNNA) Bought by Navellier & Associates Inc.

Navellier & Associates Inc. acquired a new position in shares of Hennessy Advisors, Inc. (NASDAQ:HNNA) in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor acquired 47,428 shares of the asset manager’s stock, valued at approximately $605,000.

Several other large investors have also modified their holdings of the company. Redhawk Wealth Advisors Inc. boosted its holdings in shares of Hennessy Advisors by 1.7% during the 4th quarter. Redhawk Wealth Advisors Inc. now owns 52,936 shares of the asset manager’s stock worth $671,000 after buying an additional 875 shares during the period. Geode Capital Management LLC boosted its holdings in shares of Hennessy Advisors by 35.5% during the 3rd quarter. Geode Capital Management LLC now owns 45,379 shares of the asset manager’s stock worth $452,000 after buying an additional 11,877 shares during the period. Perigon Wealth Management LLC boosted its holdings in shares of Hennessy Advisors by 33.1% during the 4th quarter. Perigon Wealth Management LLC now owns 63,798 shares of the asset manager’s stock worth $778,000 after buying an additional 15,882 shares during the period. Finally, Allworth Financial LP bought a new stake in shares of Hennessy Advisors during the 4th quarter worth $336,000. 10.31% of the stock is owned by institutional investors.

Insider Activity at Hennessy Advisors

In other news, Director Thomas L. Seavey sold 11,074 shares of the stock in a transaction on Thursday, December 19th. The shares were sold at an average price of $11.44, for a total value of $126,686.56. Following the completion of the transaction, the director now owns 70,429 shares in the company, valued at approximately $805,707.76. This represents a 13.59 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, VP Daniel B. Steadman sold 3,200 shares of the stock in a transaction on Wednesday, December 18th. The shares were sold at an average price of $12.19, for a total transaction of $39,008.00. Following the completion of the transaction, the vice president now owns 47,242 shares of the company’s stock, valued at approximately $575,879.98. This represents a 6.34 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 31,083 shares of company stock worth $367,315 in the last ninety days. 37.40% of the stock is currently owned by insiders.

Hennessy Advisors Price Performance

NASDAQ HNNA opened at $12.20 on Friday. The company has a current ratio of 18.29, a quick ratio of 18.29 and a debt-to-equity ratio of 0.42. The company has a fifty day simple moving average of $12.23 and a 200 day simple moving average of $10.94. The company has a market cap of $94.91 million, a P/E ratio of 10.89 and a beta of 0.77. Hennessy Advisors, Inc. has a 1 year low of $6.60 and a 1 year high of $13.88.

Hennessy Advisors (NASDAQ:HNNA) last released its earnings results on Thursday, February 13th. The asset manager reported $0.36 EPS for the quarter. The firm had revenue of $9.71 million during the quarter. Hennessy Advisors had a net margin of 26.29% and a return on equity of 9.60%.

Hennessy Advisors Cuts Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, March 6th. Investors of record on Monday, February 24th will be paid a dividend of $0.1375 per share. This represents a $0.55 annualized dividend and a yield of 4.51%. The ex-dividend date of this dividend is Monday, February 24th. Hennessy Advisors’s payout ratio is currently 49.11%.

Hennessy Advisors Company Profile

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.