Insider Selling: Hennessy Advisors, Inc. (NASDAQ:HNNA) VP Sells 3,200 Shares of Stock

Hennessy Advisors, Inc. (NASDAQ:HNNA) VP Daniel B. Steadman sold 3,200 shares of the stock in a transaction that occurred on Wednesday, December 18th. The shares were sold at an average price of $12.19, for a total value of $39,008.00. Following the transaction, the vice president now owns 47,242 shares in the company, valued at $575,879.98. This trade represents a 6.34 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink.

Hennessy Advisors Price Performance

NASDAQ:HNNA traded up $0.14 during trading hours on Friday, reaching $11.98. 23,217 shares of the company were exchanged, compared to its average volume of 9,393. 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 has a market cap of $93.20 million, a PE ratio of 13.02 and a beta of 0.80. Hennessy Advisors, Inc. has a twelve month low of $6.38 and a twelve month high of $13.88. The stock’s 50-day moving average is $10.80 and its 200-day moving average is $9.42.

Hennessy Advisors Announces Dividend

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

Institutional Trading of Hennessy Advisors

A number of institutional investors have recently made changes to their positions in HNNA. Geode Capital Management LLC grew its holdings 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 valued at $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 in the 3rd quarter worth approximately $518,000. Finally, Renaissance Technologies LLC lifted 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 purchasing an additional 1,813 shares in 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.