Hennessy Advisors, Inc. (NASDAQ:HNNA) Director Thomas L. Seavey Sells 11,074 Shares

Hennessy Advisors, Inc. (NASDAQ:HNNA) Director Thomas L. Seavey sold 11,074 shares of Hennessy Advisors stock in a transaction that occurred on Thursday, December 19th. The stock was sold at an average price of $11.44, for a total transaction of $126,686.56. Following the completion of the sale, the director now owns 70,429 shares of the company’s stock, valued at $805,707.76. This trade represents a 13.59 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website.

Hennessy Advisors Trading Up 1.2 %

NASDAQ HNNA opened at $11.98 on Friday. The stock has a market cap of $93.20 million, a P/E ratio of 13.02 and a beta of 0.80. The company has a current ratio of 17.39, a quick ratio of 17.39 and a debt-to-equity ratio of 0.44. Hennessy Advisors, Inc. has a 12-month low of $6.38 and a 12-month high of $13.88. The company has a fifty day simple moving average of $10.84 and a two-hundred day simple moving average of $9.45.

Hennessy Advisors Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Wednesday, November 27th. Shareholders of record on Thursday, November 14th were paid a dividend of $0.138 per share. The ex-dividend date was Thursday, November 14th. This represents a $0.55 annualized dividend and a yield of 4.61%. Hennessy Advisors’s payout ratio is presently 59.78%.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of the company. Redhawk Wealth Advisors Inc. purchased a new stake in Hennessy Advisors in the third quarter valued at approximately $518,000. Geode Capital Management LLC lifted its stake in Hennessy Advisors by 35.5% during 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 during the period. Finally, Renaissance Technologies LLC boosted its holdings in shares of Hennessy Advisors by 1.9% in the 2nd quarter. Renaissance Technologies LLC now owns 95,588 shares of the asset manager’s stock valued at $681,000 after acquiring an additional 1,813 shares during the last quarter. 10.31% of the stock is owned by institutional investors and hedge funds.

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.