Hennessy Advisors, Inc. (NASDAQ:HNNA) Director Sells $87,954.90 in Stock

Hennessy Advisors, Inc. (NASDAQ:HNNA - Get Free Report) Director Thomas L. Seavey sold 7,269 shares of Hennessy Advisors stock in a transaction on Tuesday, December 17th. The shares were sold at an average price of $12.10, for a total value of $87,954.90. Following the completion of the sale, the director now directly owns 83,160 shares of the company's stock, valued at approximately $1,006,236. This represents a 8.04 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website.

Hennessy Advisors Trading Up 2.4 %

Shares of HNNA stock traded up $0.28 during trading hours on Thursday, hitting $11.84. 23,889 shares of the company were exchanged, compared to its average volume of 9,336. Hennessy Advisors, Inc. has a 1 year low of $6.38 and a 1 year high of $13.88. The firm has a fifty day moving average of $10.80 and a 200 day moving average of $9.42. The firm has a market cap of $92.12 million, a PE ratio of 12.87 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 Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, November 27th. Investors of record on Thursday, November 14th were given a $0.138 dividend. This represents a $0.55 annualized dividend and a dividend yield of 4.66%. The ex-dividend date was Thursday, November 14th. Hennessy Advisors's dividend payout ratio (DPR) is currently 59.78%.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in HNNA. Geode Capital Management LLC grew its stake in Hennessy Advisors by 35.5% during the third 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. Redhawk Wealth Advisors Inc. acquired a new position in shares of Hennessy Advisors during the 3rd quarter valued at $518,000. Finally, Renaissance Technologies LLC boosted its position 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 purchasing an additional 1,813 shares during the period. Institutional investors and hedge funds own 10.31% of the company's stock.

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.