Thomas L. Seavey Sells 7,704 Shares of Hennessy Advisors, Inc. (NASDAQ:HNNA) Stock

Hennessy Advisors, Inc. (NASDAQ:HNNA) Director Thomas L. Seavey sold 7,704 shares of Hennessy Advisors stock in a transaction dated Wednesday, August 13th. The stock was sold at an average price of $10.71, for a total transaction of $82,509.84. Following the transaction, the director owned 55,725 shares of the company’s stock, valued at approximately $596,814.75. The trade was a 12.15% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link.

Hennessy Advisors Stock Performance

Shares of HNNA opened at $10.67 on Friday. The company has a current ratio of 15.58, a quick ratio of 15.58 and a debt-to-equity ratio of 0.41. The stock has a market cap of $83.10 million, a P/E ratio of 8.54 and a beta of 0.79. The company has a 50-day moving average of $12.00 and a two-hundred day moving average of $11.21. Hennessy Advisors, Inc. has a 12-month low of $8.43 and a 12-month 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 (EPS) for the quarter. Hennessy Advisors had a net margin of 27.55% and a return on equity of 10.48%.

Hennessy Advisors Dividend Announcement

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

Wall Street Analysts Forecast Growth

Separately, Wall Street Zen upgraded shares of Hennessy Advisors to a “buy” rating in a research report on Thursday, May 22nd.

Institutional Investors Weigh In On Hennessy Advisors

A number of hedge funds and other institutional investors have recently modified their holdings of the company. Geode Capital Management LLC grew its holdings in shares of Hennessy Advisors by 2.0% during the second quarter. Geode Capital Management LLC now owns 51,894 shares of the asset manager’s stock worth $654,000 after buying an additional 1,014 shares in the last quarter. Bridgeway Capital Management LLC grew its holdings in shares of Hennessy Advisors by 6.7% during the second quarter. Bridgeway Capital Management LLC now owns 17,060 shares of the asset manager’s stock worth $215,000 after buying an additional 1,072 shares in the last quarter. Redhawk Wealth Advisors Inc. grew its holdings in shares of Hennessy Advisors by 1.8% during the second quarter. Redhawk Wealth Advisors Inc. now owns 68,600 shares of the asset manager’s stock worth $864,000 after buying an additional 1,204 shares in the last quarter. Northern Trust Corp grew its holdings in shares of Hennessy Advisors by 63.8% during the fourth quarter. Northern Trust Corp now owns 34,432 shares of the asset manager’s stock worth $439,000 after buying an additional 13,407 shares in the last quarter. Finally, Truffle Hound Capital LLC purchased a new stake in shares of Hennessy Advisors during the second quarter worth about $556,000. 10.31% of the stock is currently owned by hedge funds and other institutional investors.

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.