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 company’s stock in a transaction dated Monday, May 11th. The shares were sold at an average price of $10.00, for a total transaction of $100,000.00. Following the completion of the sale, the chief financial officer directly owned 60,689 shares of the company’s stock, valued at $606,890. The trade was a 14.15% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink.

Hennessy Advisors Stock Performance

NASDAQ HNNA traded up $0.03 on Tuesday, reaching $10.19. The company’s stock had a trading volume of 509 shares, compared to its average volume of 12,901. Hennessy Advisors, Inc. has a twelve month low of $8.90 and a twelve month high of $13.19. The stock has a market cap of $80.50 million, a PE ratio of 9.70 and a beta of 0.59. The firm’s 50 day moving average is $9.84 and its two-hundred day moving average is $9.89.

Hennessy Advisors (NASDAQ:HNNA) last issued its quarterly earnings results on Wednesday, May 6th. The asset manager reported $0.24 earnings per share for the quarter, missing analysts’ consensus estimates 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 during the quarter, compared to analyst estimates of $9.61 million.

Hennessy Advisors Announces Dividend

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

Analysts Set New Price Targets

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

Institutional Trading of Hennessy Advisors

A number of hedge funds have recently bought and sold shares of HNNA. Geode Capital Management LLC lifted its stake in Hennessy Advisors by 2.0% during the second quarter. Geode Capital Management LLC now owns 51,894 shares of the asset manager’s stock valued at $654,000 after buying an additional 1,014 shares in the last quarter. Bridgeway Capital Management LLC lifted its stake in Hennessy Advisors by 6.7% during the second quarter. Bridgeway Capital Management LLC now owns 17,060 shares of the asset manager’s stock valued at $215,000 after buying an additional 1,072 shares in the last quarter. Evergreen Capital Management LLC purchased a new stake in Hennessy Advisors during the second quarter valued at about $190,000. Navellier & Associates Inc. lifted its stake in Hennessy Advisors by 72.2% during the third quarter. Navellier & Associates Inc. now owns 73,647 shares of the asset manager’s stock valued at $770,000 after buying an additional 30,889 shares in the last quarter. Finally, Truffle Hound Capital LLC increased its holdings in shares of Hennessy Advisors by 241.8% in the 3rd quarter. Truffle Hound Capital LLC now owns 150,857 shares of the asset manager’s stock valued at $1,576,000 after purchasing an additional 106,726 shares during the period. 10.31% of the stock is owned by hedge funds and other institutional investors.

About Hennessy Advisors

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.