Daniel B. Steadman Sells 3,407 Shares of Hennessy Advisors, Inc. (NASDAQ:HNNA) Stock

Hennessy Advisors, Inc. (NASDAQ:HNNA) VP Daniel B. Steadman sold 3,407 shares of Hennessy Advisors stock in a transaction on Thursday, December 26th. The stock was sold at an average price of $11.99, for a total transaction of $40,849.93. Following the transaction, the vice president now directly owns 38,282 shares of the company’s stock, valued at $459,001.18. This represents a 8.17 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link.

Hennessy Advisors Stock Performance

Shares of HNNA opened at $11.62 on Friday. The company has a current ratio of 17.39, a quick ratio of 17.39 and a debt-to-equity ratio of 0.44. The firm’s fifty day simple moving average is $11.01 and its two-hundred day simple moving average is $9.58. Hennessy Advisors, Inc. has a 12 month low of $6.38 and a 12 month high of $13.88. The stock has a market capitalization of $90.45 million, a P/E ratio of 12.63 and a beta of 0.80.

Hennessy Advisors Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Wednesday, November 27th. Investors of record on Thursday, November 14th were paid a dividend of $0.138 per share. The ex-dividend date of this dividend was Thursday, November 14th. This represents a $0.55 annualized dividend and a yield of 4.75%. Hennessy Advisors’s dividend payout ratio is currently 59.78%.

Institutional Investors Weigh In On Hennessy Advisors

Hedge funds have recently added to or reduced their stakes in the business. Geode Capital Management LLC boosted its holdings in shares of 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 in the last quarter. 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 stake in Hennessy Advisors by 1.9% during the second quarter. Renaissance Technologies LLC now owns 95,588 shares of the asset manager’s stock worth $681,000 after acquiring an additional 1,813 shares in the last quarter. 10.31% of the stock is currently 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.