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

Hennessy Advisors, Inc. (NASDAQ:HNNA) VP Daniel B. Steadman sold 3,407 shares of the firm’s stock in a transaction on Thursday, December 26th. The shares were sold at an average price of $11.99, for a total value of $40,849.93. Following the sale, 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 at this link.

Hennessy Advisors Stock Performance

Shares of HNNA traded down $0.08 during trading hours on Thursday, hitting $11.92. The company had a trading volume of 14,586 shares, compared to its average volume of 9,426. Hennessy Advisors, Inc. has a 12 month low of $6.38 and a 12 month high of $13.88. The firm has a market cap of $92.79 million, a price-to-earnings ratio of 12.96 and a beta of 0.80. The business has a fifty day moving average of $10.97 and a 200-day moving average of $9.57. 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 disclosed a quarterly dividend, which was paid on Wednesday, November 27th. Shareholders of record on Thursday, November 14th were given a dividend of $0.138 per share. This represents a $0.55 annualized dividend and a yield of 4.63%. The ex-dividend date of this dividend was Thursday, November 14th. Hennessy Advisors’s payout ratio is 59.78%.

Institutional Investors Weigh In On Hennessy Advisors

Institutional investors have recently modified their holdings of the business. Geode Capital Management LLC raised its stake 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 worth $452,000 after purchasing an additional 11,877 shares in the last quarter. Redhawk Wealth Advisors Inc. acquired a new stake in shares of Hennessy Advisors in the third quarter valued at approximately $518,000. Finally, Renaissance Technologies LLC boosted 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 valued at $681,000 after buying an additional 1,813 shares during the period. 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.