Hennessy Advisors (NASDAQ:HNNA) CFO Sells $100,000.00 in Stock

Hennessy Advisors, Inc. (NASDAQ:HNNA) CFO Kathryn Fahy sold 10,000 shares of the business’s stock in a transaction on Monday, May 11th. The shares were sold at an average price of $10.00, for a total transaction of $100,000.00. Following the sale, the chief financial officer owned 60,689 shares of the company’s stock, valued at approximately $606,890. The trade was a 14.15% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website.

Hennessy Advisors Stock Up 0.3%

HNNA stock traded up $0.03 during trading on Tuesday, hitting $10.19. 509 shares of the company’s stock traded hands, compared to its average volume of 12,901. Hennessy Advisors, Inc. has a 52 week low of $8.90 and a 52 week high of $13.19. The stock has a fifty day moving average price of $9.84 and a two-hundred day moving average price of $9.89. The stock has a market capitalization of $80.50 million, a price-to-earnings ratio of 9.70 and a beta of 0.59.

Hennessy Advisors (NASDAQ:HNNA) last released its earnings results on Wednesday, May 6th. The asset manager reported $0.24 earnings per share for the quarter, missing the consensus estimate of $0.33 by ($0.09). Hennessy Advisors had a net margin of 25.40% and a return on equity of 8.53%. The business had revenue of $8.13 million for the quarter, compared to the consensus estimate of $9.61 million.

Hennessy Advisors Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, June 4th. Stockholders of record on Thursday, May 21st will be issued a dividend of $0.15 per share. The ex-dividend date of this dividend is Thursday, May 21st. This represents a $0.60 annualized dividend and a dividend yield of 5.9%. Hennessy Advisors’s payout ratio is 57.14%.

Hedge Funds Weigh In On Hennessy Advisors

Hedge funds and other institutional investors have recently modified their holdings of the company. Empowered Funds LLC lifted its holdings in Hennessy Advisors by 14.6% in the fourth quarter. Empowered Funds LLC now owns 13,192 shares of the asset manager’s stock worth $127,000 after purchasing an additional 1,678 shares during the period. Evergreen Capital Management LLC acquired a new stake in Hennessy Advisors in the 2nd quarter valued at about $190,000. Bridgeway Capital Management LLC lifted its holdings in Hennessy Advisors by 6.7% in the 2nd quarter. Bridgeway Capital Management LLC now owns 17,060 shares of the asset manager’s stock valued at $215,000 after acquiring an additional 1,072 shares during the last quarter. Citadel Advisors LLC acquired a new stake in Hennessy Advisors in the 3rd quarter valued at about $218,000. Finally, Susquehanna International Group LLP lifted its holdings in Hennessy Advisors by 108.5% in the 3rd quarter. Susquehanna International Group LLP now owns 26,553 shares of the asset manager’s stock valued at $280,000 after acquiring an additional 13,819 shares during the last quarter. Institutional investors and hedge funds own 10.31% of the company’s stock.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings reissued a “hold (c+)” rating on shares of Hennessy Advisors in a report on Friday, March 27th. One research analyst has rated the stock with a Hold rating, According to data from MarketBeat.com, the company has an average rating of “Hold”.

Hennessy Advisors Company Profile

Hennessy Advisors, Inc is an investment advisory firm specializing in the management of closed-end and open-end funds, as well as separate account strategies. Serving as the investment adviser to a family of publicly traded closed-end funds and a series of mutual funds, the company focuses on generating income and total return for its shareholders by deploying a range of equity and fixed-income strategies. Hennessy Advisors is registered with the U.S. Securities and Exchange Commission and operates under the Investment Advisers Act of 1940.

The firm’s product lineup includes multiple closed-end funds that invest in U.S.