Insider Selling: Hennessy Advisors, Inc. (NASDAQ:HNNA) CFO Sells 8,000 Shares of Stock

Hennessy Advisors, Inc. (NASDAQ:HNNA) CFO Kathryn Fahy sold 8,000 shares of Hennessy Advisors stock in a transaction that occurred on Thursday, February 27th. The shares were sold at an average price of $11.07, for a total transaction of $88,560.00. Following the completion of the transaction, the chief financial officer now directly owns 74,211 shares in the company, valued at approximately $821,515.77. The trade was a 9.73 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink.

Hennessy Advisors Stock Performance

Shares of HNNA opened at $11.13 on Friday. The company has a debt-to-equity ratio of 0.42, a quick ratio of 18.29 and a current ratio of 18.29. Hennessy Advisors, Inc. has a twelve month low of $6.60 and a twelve month high of $13.88. The firm’s 50 day moving average price is $12.16 and its two-hundred day moving average price is $11.00. The firm has a market cap of $86.64 million, a P/E ratio of 9.94 and a beta of 0.77.

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

Hennessy Advisors Cuts Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, March 6th. Stockholders of record on Monday, February 24th will be issued a $0.1375 dividend. The ex-dividend date is Monday, February 24th. This represents a $0.55 dividend on an annualized basis and a dividend yield of 4.94%. Hennessy Advisors’s dividend payout ratio (DPR) is presently 49.11%.

Institutional Trading of Hennessy Advisors

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Redhawk Wealth Advisors Inc. raised its holdings in shares of Hennessy Advisors by 1.7% in the fourth quarter. Redhawk Wealth Advisors Inc. now owns 52,936 shares of the asset manager’s stock valued at $671,000 after purchasing an additional 875 shares during the last quarter. Geode Capital Management LLC raised its holdings in shares of Hennessy Advisors by 5.3% in the fourth quarter. Geode Capital Management LLC now owns 47,779 shares of the asset manager’s stock valued at $604,000 after purchasing an additional 2,400 shares during the last quarter. Quinn Opportunity Partners LLC acquired a new stake in shares of Hennessy Advisors in the fourth quarter valued at approximately $139,000. Northern Trust Corp raised its holdings in shares of Hennessy Advisors by 63.8% in the fourth quarter. Northern Trust Corp now owns 34,432 shares of the asset manager’s stock valued at $439,000 after purchasing an additional 13,407 shares during the last quarter. Finally, Perigon Wealth Management LLC raised its holdings in shares of Hennessy Advisors by 33.1% in the fourth quarter. Perigon Wealth Management LLC now owns 63,798 shares of the asset manager’s stock valued at $778,000 after purchasing an additional 15,882 shares during the last quarter. 10.31% of the stock is currently owned by institutional investors and hedge funds.

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.