Insider Selling: Hennessy Advisors, Inc. (NASDAQ:HNNA) CFO Sells 8,000 Shares of Stock

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

Hennessy Advisors Stock Down 0.5 %

Shares of NASDAQ HNNA opened at $11.13 on Friday. The company has a current ratio of 18.29, a quick ratio of 18.29 and a debt-to-equity ratio of 0.42. The stock has a market capitalization of $86.64 million, a PE ratio of 9.94 and a beta of 0.77. The stock’s fifty day simple moving average is $12.15 and its two-hundred day simple moving average is $11.02. Hennessy Advisors, Inc. has a 12-month low of $6.60 and a 12-month high of $13.88.

Hennessy Advisors (NASDAQ:HNNA) last announced its earnings results on Thursday, February 13th. The asset manager reported $0.36 earnings per share (EPS) for the quarter. The business 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 firm also recently disclosed a quarterly dividend, which will be paid on Thursday, March 6th. Stockholders of record on Monday, February 24th will be given a $0.1375 dividend. The ex-dividend date is Monday, February 24th. This represents a $0.55 dividend on an annualized basis and a dividend yield of 4.94%. Hennessy Advisors’s payout ratio is 49.11%.

Institutional Trading of Hennessy Advisors

A number of institutional investors have recently made changes to their positions in HNNA. Quinn Opportunity Partners LLC acquired a new stake in Hennessy Advisors during the 4th quarter worth about $139,000. Allworth Financial LP acquired a new stake in Hennessy Advisors during the 4th quarter worth about $336,000. Northern Trust Corp lifted its position in Hennessy Advisors by 63.8% during the 4th quarter. Northern Trust Corp now owns 34,432 shares of the asset manager’s stock worth $439,000 after acquiring an additional 13,407 shares during the period. Geode Capital Management LLC lifted its position 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 worth $452,000 after acquiring an additional 11,877 shares during the period. Finally, Navellier & Associates Inc. acquired a new stake in Hennessy Advisors during the 4th quarter worth about $605,000. Institutional investors and hedge funds 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.