Insider Selling: Hennessy Advisors, Inc. (NASDAQ:HNNA) Director Sells 7,269 Shares of Stock

Hennessy Advisors, Inc. (NASDAQ:HNNA) Director Thomas L. Seavey sold 7,269 shares of the firm’s stock in a transaction that occurred on Tuesday, December 17th. The stock was sold at an average price of $12.10, for a total value of $87,954.90. Following the sale, the director now directly owns 83,160 shares of the company’s stock, valued at $1,006,236. This represents a 8.04 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink.

Hennessy Advisors Price Performance

Hennessy Advisors stock opened at $11.84 on Friday. The stock has a market capitalization of $92.12 million, a price-to-earnings ratio of 12.87 and a beta of 0.80. Hennessy Advisors, Inc. has a 52-week low of $6.38 and a 52-week high of $13.88. The company has a debt-to-equity ratio of 0.44, a quick ratio of 17.39 and a current ratio of 17.39. The stock’s 50 day moving average price is $10.80 and its two-hundred day moving average price is $9.42.

Hennessy Advisors Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Wednesday, November 27th. Shareholders of record on Thursday, November 14th were issued a $0.138 dividend. This represents a $0.55 dividend on an annualized basis and a yield of 4.66%. The ex-dividend date was Thursday, November 14th. Hennessy Advisors’s payout ratio is 59.78%.

Institutional Investors Weigh In On Hennessy Advisors

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Redhawk Wealth Advisors Inc. bought a new position in shares of Hennessy Advisors during the 3rd quarter worth about $518,000. Geode Capital Management LLC raised its stake in 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. Finally, Renaissance Technologies LLC raised its stake in Hennessy Advisors by 1.9% during the 2nd quarter. Renaissance Technologies LLC now owns 95,588 shares of the asset manager’s stock worth $681,000 after buying an additional 1,813 shares during the period. 10.31% of the stock is owned by institutional investors.

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.