Clifford Swan Investment Counsel LLC Sells 10,000 Shares of Hennessy Advisors Inc (HNNA)
Clifford Swan Investment Counsel LLC decreased its position in shares of Hennessy Advisors Inc (NASDAQ:HNNA) by 49.4% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 10,250 shares of the asset manager’s stock after selling 10,000 shares during the quarter. Clifford Swan Investment Counsel LLC’s holdings in Hennessy Advisors were worth $170,000 as of its most recent filing with the Securities & Exchange Commission.
Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Citigroup Inc. increased its holdings in shares of Hennessy Advisors by 55.9% during the second quarter. Citigroup Inc. now owns 8,113 shares of the asset manager’s stock valued at $123,000 after acquiring an additional 2,909 shares in the last quarter. Bank of New York Mellon Corp bought a new stake in shares of Hennessy Advisors during the fourth quarter valued at approximately $239,000. Dimensional Fund Advisors LP increased its holdings in shares of Hennessy Advisors by 65.0% during the third quarter. Dimensional Fund Advisors LP now owns 34,197 shares of the asset manager’s stock valued at $528,000 after acquiring an additional 13,475 shares in the last quarter. Finally, Maltese Capital Management LLC increased its holdings in shares of Hennessy Advisors by 23.4% during the third quarter. Maltese Capital Management LLC now owns 127,000 shares of the asset manager’s stock valued at $1,961,000 after acquiring an additional 24,095 shares in the last quarter. Hedge funds and other institutional investors own 15.67% of the company’s stock.
In related news, EVP Daniel B. Steadman sold 10,000 shares of the company’s stock in a transaction on Friday, December 8th. The stock was sold at an average price of $16.90, for a total transaction of $169,000.00. Following the completion of the sale, the executive vice president now owns 58,460 shares in the company, valued at $987,974. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 41.57% of the company’s stock.
Hennessy Advisors (NASDAQ:HNNA) last announced its quarterly earnings results on Thursday, January 25th. The asset manager reported $0.53 earnings per share (EPS) for the quarter. Hennessy Advisors had a return on equity of 29.58% and a net margin of 35.78%. The business had revenue of $13.81 million during the quarter.
The business also recently declared a quarterly dividend, which will be paid on Monday, March 5th. Investors of record on Friday, February 9th will be issued a dividend of $0.10 per share. The ex-dividend date of this dividend is Thursday, February 8th. This represents a $0.40 annualized dividend and a yield of 2.27%. This is an increase from Hennessy Advisors’s previous quarterly dividend of $0.08. Hennessy Advisors’s dividend payout ratio is 16.39%.
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Hennessy Advisors Profile
Hennessy Advisors, Inc is an investment management company. The Company’s business activity is managing, servicing and marketing open-end mutual funds branded as the Hennessy Funds. It provides investment advisory services and shareholder services to the Hennessy Funds. Its investment advisory services include managing the composition of each fund’s portfolio, including the purchase, retention and disposition of portfolio securities in accordance with the Fund’s investment objectives, policies and restrictions; conducting investment research, and monitoring compliance with each fund’s investment restrictions and applicable laws and regulations.
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