Thomas L. Seavey Sells 7,000 Shares of Hennessy Advisors, Inc. (NASDAQ:HNNA) Stock

Hennessy Advisors, Inc. (NASDAQ:HNNA) Director Thomas L. Seavey sold 7,000 shares of the company’s stock in a transaction that occurred on Tuesday, August 12th. The stock was sold at an average price of $10.85, for a total value of $75,950.00. Following the transaction, the director directly owned 63,429 shares of the company’s stock, valued at approximately $688,204.65. The trade was a 9.94% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link.

Hennessy Advisors Trading Down 0.3%

Shares of HNNA stock opened at $10.67 on Friday. The company has a debt-to-equity ratio of 0.41, a current ratio of 15.58 and a quick ratio of 15.58. The company has a market cap of $83.12 million, a price-to-earnings ratio of 8.54 and a beta of 0.79. The stock has a 50 day simple moving average of $12.00 and a 200-day simple moving average of $11.21. Hennessy Advisors, Inc. has a 1-year low of $8.43 and a 1-year high of $13.88.

Hennessy Advisors (NASDAQ:HNNA) last announced its earnings results on Wednesday, August 6th. The asset manager reported $0.26 earnings per share for the quarter. Hennessy Advisors had a return on equity of 10.48% and a net margin of 27.55%.

Hennessy Advisors Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, September 4th. Stockholders of record on Wednesday, August 20th will be given a $0.1375 dividend. This represents a $0.55 annualized dividend and a dividend yield of 5.2%. The ex-dividend date is Wednesday, August 20th. Hennessy Advisors’s dividend payout ratio (DPR) is 44.00%.

Wall Street Analysts Forecast Growth

Separately, Wall Street Zen raised Hennessy Advisors to a “buy” rating in a research note on Thursday, May 22nd.

Hedge Funds Weigh In On Hennessy Advisors

Hedge funds and other institutional investors have recently made changes to their positions in the company. Evergreen Capital Management LLC purchased a new position in shares of Hennessy Advisors in the second quarter valued at approximately $190,000. Bridgeway Capital Management LLC lifted its position in shares of Hennessy Advisors by 6.7% in the second 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 in the last quarter. Northern Trust Corp lifted its position in shares of Hennessy Advisors by 63.8% in the fourth quarter. Northern Trust Corp now owns 34,432 shares of the asset manager’s stock valued at $439,000 after acquiring an additional 13,407 shares in the last quarter. Truffle Hound Capital LLC purchased a new position in shares of Hennessy Advisors in the second quarter valued at approximately $556,000. Finally, Geode Capital Management LLC lifted its position in shares of Hennessy Advisors by 5.3% in the fourth quarter. Geode Capital Management LLC now owns 47,779 shares of the asset manager’s stock valued at $604,000 after acquiring an additional 2,400 shares in the last quarter. Hedge funds and other 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.