Hennessy Advisors, Inc. (NASDAQ:HNNA) VP Daniel B. Steadman Sells 2,900 Shares

Hennessy Advisors, Inc. (NASDAQ:HNNA) VP Daniel B. Steadman sold 2,900 shares of Hennessy Advisors stock in a transaction dated Friday, December 20th. The shares were sold at an average price of $11.75, for a total value of $34,075.00. Following the transaction, the vice president now owns 44,342 shares in the company, valued at $521,018.50. This trade represents a 6.14 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website.

Hennessy Advisors Stock Up 1.2 %

Shares of NASDAQ:HNNA traded up $0.14 during midday trading on Friday, reaching $11.98. 23,217 shares of the company were exchanged, compared to its average volume of 9,393. The firm has a market cap of $93.20 million, a PE ratio of 13.02 and a beta of 0.80. The company has a quick ratio of 17.39, a current ratio of 17.39 and a debt-to-equity ratio of 0.44. Hennessy Advisors, Inc. has a fifty-two week low of $6.38 and a fifty-two week high of $13.88. The stock has a fifty day simple moving average of $10.80 and a two-hundred day simple moving average of $9.42.

Hennessy Advisors Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, November 27th. Stockholders of record on Thursday, November 14th were given a dividend of $0.138 per share. The ex-dividend date was Thursday, November 14th. This represents a $0.55 annualized dividend and a dividend yield of 4.61%. Hennessy Advisors’s dividend payout ratio is currently 59.78%.

Institutional Investors Weigh In On Hennessy Advisors

A number of hedge funds and other institutional investors have recently bought and sold shares of the company. Redhawk Wealth Advisors Inc. acquired a new stake in shares of Hennessy Advisors in the third quarter valued at approximately $518,000. Geode Capital Management LLC grew its position 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. Finally, Renaissance Technologies LLC increased its stake in Hennessy Advisors by 1.9% in the 2nd quarter. Renaissance Technologies LLC now owns 95,588 shares of the asset manager’s stock valued at $681,000 after buying an additional 1,813 shares during the last quarter. Institutional investors and hedge funds 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.