Hennessy Advisors, Inc. (NASDAQ:HNNA) CFO Sells $88,560.00 in Stock

Hennessy Advisors, Inc. (NASDAQ:HNNA) CFO Kathryn Fahy sold 8,000 shares of the firm’s stock in a transaction dated Thursday, February 27th. The stock was sold at an average price of $11.07, for a total transaction of $88,560.00. Following the sale, the chief financial officer now owns 74,211 shares of the company’s stock, valued at approximately $821,515.77. The trade was a 9.73 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink.

Hennessy Advisors Trading Down 0.5 %

Shares of Hennessy Advisors stock traded down $0.06 during mid-day trading on Thursday, hitting $11.19. The stock had a trading volume of 12,226 shares, compared to its average volume of 11,122. The firm has a 50-day moving average of $12.18 and a two-hundred day moving average of $11.00. The firm has a market cap of $87.10 million, a P/E ratio of 9.99 and a beta of 0.77. The company has a quick ratio of 18.29, a current ratio of 18.29 and a debt-to-equity ratio of 0.42. Hennessy Advisors, Inc. has a 12-month low of $6.60 and a 12-month high of $13.88.

Hennessy Advisors (NASDAQ:HNNA) last posted its earnings results on Thursday, February 13th. The asset manager reported $0.36 EPS for the quarter. The company had revenue of $9.71 million for the quarter. Hennessy Advisors had a return on equity of 9.60% and a net margin of 26.29%.

Hennessy Advisors Cuts Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, March 6th. Stockholders of record on Monday, February 24th will be issued a $0.1375 dividend. The ex-dividend date of this dividend is Monday, February 24th. This represents a $0.55 annualized dividend and a dividend yield of 4.92%. Hennessy Advisors’s dividend payout ratio is currently 49.11%.

Institutional Trading of Hennessy Advisors

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. Navellier & Associates Inc. purchased a new position in shares of Hennessy Advisors during the fourth quarter worth $605,000. Allworth Financial LP purchased a new position in Hennessy Advisors during the 4th quarter valued at about $336,000. Perigon Wealth Management LLC grew its position in Hennessy Advisors by 33.1% in the 4th quarter. Perigon Wealth Management LLC now owns 63,798 shares of the asset manager’s stock valued at $778,000 after acquiring an additional 15,882 shares in the last quarter. Northern Trust Corp lifted its position in shares of Hennessy Advisors by 63.8% during the fourth quarter. Northern Trust Corp now owns 34,432 shares of the asset manager’s stock worth $439,000 after purchasing an additional 13,407 shares in the last quarter. Finally, Geode Capital Management LLC boosted its stake in shares of 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 during the period. Hedge funds and other institutional investors 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.