Daniel B. Steadman Sells 2,900 Shares of Hennessy Advisors, Inc. (NASDAQ:HNNA) Stock

Hennessy Advisors, Inc. (NASDAQ:HNNA) VP Daniel B. Steadman sold 2,900 shares of the stock in a transaction dated Friday, December 20th. The stock was sold at an average price of $11.75, for a total value of $34,075.00. Following the transaction, the vice president now directly owns 44,342 shares in the company, valued at approximately $521,018.50. The trade was a 6.14 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink.

Hennessy Advisors Stock Up 1.2 %

Shares of NASDAQ:HNNA opened at $11.98 on Friday. The firm has a market capitalization of $93.20 million, a PE ratio of 13.02 and a beta of 0.80. Hennessy Advisors, Inc. has a 1 year low of $6.38 and a 1 year high of $13.88. The company has a debt-to-equity ratio of 0.44, a current ratio of 17.39 and a quick ratio of 17.39. The firm’s 50-day moving average is $10.84 and its two-hundred day moving average is $9.47.

Hennessy Advisors Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, November 27th. Investors of record on Thursday, November 14th were paid a dividend of $0.138 per share. This represents a $0.55 annualized dividend and a yield of 4.61%. The ex-dividend date was Thursday, November 14th. Hennessy Advisors’s payout ratio is currently 59.78%.

Institutional Investors Weigh In On Hennessy Advisors

A number of hedge funds have recently added to or reduced their stakes in the business. Redhawk Wealth Advisors Inc. purchased a new stake in shares of Hennessy Advisors during the third quarter worth $518,000. Renaissance Technologies LLC grew its stake in Hennessy Advisors by 1.9% during the 2nd 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. Finally, Geode Capital Management LLC grew its stake 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 purchasing an additional 11,877 shares in the last quarter. 10.31% of the stock is currently owned by institutional investors and hedge funds.

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.