Hennessy Advisors (NASDAQ:HNNA) VP Daniel Steadman Sells 5,000 Shares of Company Stock

Hennessy Advisors, Inc. (NASDAQ:HNNA) VP Daniel Steadman sold 5,000 shares of Hennessy Advisors stock in a transaction on Thursday, September 24th. The shares were sold at an average price of $10.26, for a total transaction of $51,300.00. Following the sale, the vice president directly owned 37,768 shares of the company’s stock, valued at $387,499.68. This trade represents a 11.69% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website.

Hennessy Advisors Trading Down 0.1%

HNNA stock traded down $0.01 during mid-day trading on Friday, hitting $10.18. The stock had a trading volume of 3,147 shares, compared to its average volume of 9,786. The stock has a market capitalization of $80.42 million, a price-to-earnings ratio of 9.79 and a beta of 0.58. The company has a fifty day moving average of $10.06 and a 200 day moving average of $9.98. Hennessy Advisors, Inc. has a 1-year low of $8.90 and a 1-year high of $11.19.

Hennessy Advisors (NASDAQ:HNNA) last posted its earnings results on Wednesday, August 5th. The asset manager reported $0.25 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.37 by ($0.12). Hennessy Advisors had a net margin of 24.77% and a return on equity of 8.31%. The business had revenue of $8.39 million during the quarter, compared to analyst estimates of $9.96 million.

Hennessy Advisors Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, September 3rd. Shareholders of record on Thursday, August 20th were issued a dividend of $0.15 per share. This represents a $0.60 dividend on an annualized basis and a yield of 5.9%. The ex-dividend date was Thursday, August 20th. Hennessy Advisors’s dividend payout ratio is 57.69%.

Analyst Ratings Changes

Separately, Weiss Ratings reissued a “hold (c)” rating on shares of Hennessy Advisors in a report on Tuesday, September 8th. One research analyst has rated the stock with a Hold rating, According to data from MarketBeat, the company presently has an average rating of “Hold”.

Institutional Investors Weigh In On Hennessy Advisors

Several institutional investors have recently modified their holdings of the business. Aegis Financial Corp lifted its stake in shares of Hennessy Advisors by 20.8% in the 2nd quarter. Aegis Financial Corp now owns 170,768 shares of the asset manager’s stock valued at $1,733,000 after purchasing an additional 29,415 shares during the period. Renaissance Technologies LLC lifted its holdings in Hennessy Advisors by 4.9% during the first quarter. Renaissance Technologies LLC now owns 100,088 shares of the asset manager’s stock worth $976,000 after acquiring an additional 4,699 shares in the last quarter. Allworth Financial LP acquired a new position in Hennessy Advisors in the second quarter valued at about $826,000. Perigon Wealth Management LLC bought a new position in shares of Hennessy Advisors during the 2nd quarter valued at about $648,000. Finally, Dimensional Fund Advisors LP lifted its stake in Hennessy Advisors by 7.3% in the first quarter. Dimensional Fund Advisors LP now owns 52,677 shares of the asset manager’s stock valued at $514,000 after buying an additional 3,567 shares in the last quarter. Institutional investors and hedge funds own 10.31% of the company’s stock.

About Hennessy Advisors

Hennessy Advisors, Inc is an investment management company that provides advisory services to mutual funds, exchange-traded funds and other investment vehicles. The company develops and manages portfolios for individual and institutional investors, with strategies spanning U.S. equities, financial companies, growth stocks, income-oriented investments and other specialized areas.

Through the Hennessy Funds family, the company offers a range of actively managed and index-oriented investment products.