Hennessy Advisors, Inc. (NASDAQ:HNNA) VP Daniel B. Steadman Sells 1,903 Shares

Hennessy Advisors, Inc. (NASDAQ:HNNA) VP Daniel B. Steadman sold 1,903 shares of the business’s stock in a transaction on Monday, December 23rd. The stock was sold at an average price of $12.02, for a total value of $22,874.06. Following the completion of the sale, the vice president now directly owns 42,439 shares in the company, valued at $510,116.78. This trade represents a 4.29 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website.

Hennessy Advisors Price Performance

HNNA opened at $11.92 on Friday. Hennessy Advisors, Inc. has a 1 year low of $6.38 and a 1 year high of $13.88. The stock has a 50-day moving average price of $10.97 and a 200-day moving average price of $9.57. The firm has a market cap of $92.79 million, a PE ratio of 12.96 and a beta of 0.80. The company has a debt-to-equity ratio of 0.44, a current ratio of 17.39 and a quick ratio of 17.39.

Hennessy Advisors Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, November 27th. Stockholders of record on Thursday, November 14th were paid a $0.138 dividend. The ex-dividend date of this dividend was Thursday, November 14th. This represents a $0.55 annualized dividend and a dividend yield of 4.63%. Hennessy Advisors’s dividend payout ratio is presently 59.78%.

Institutional Investors Weigh In On Hennessy Advisors

A number of institutional investors have recently made changes to their positions in HNNA. Geode Capital Management LLC lifted its position in Hennessy Advisors by 35.5% in the 3rd quarter. Geode Capital Management LLC now owns 45,379 shares of the asset manager’s stock valued at $452,000 after acquiring an additional 11,877 shares in the last quarter. Redhawk Wealth Advisors Inc. purchased a new position in shares of Hennessy Advisors in the third quarter worth $518,000. Finally, Renaissance Technologies LLC raised its stake in shares of Hennessy Advisors by 1.9% in the second 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 last quarter. Hedge funds and other institutional investors 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.