Hennessy Advisors (NASDAQ:HNNA) Director Thomas Seavey Sells 1,875 Shares of Stock

Hennessy Advisors, Inc. (NASDAQ:HNNA) Director Thomas Seavey sold 1,875 shares of the firm’s stock in a transaction dated Thursday, September 24th. The shares were sold at an average price of $10.15, for a total transaction of $19,031.25. Following the transaction, the director directly owned 59,754 shares in the company, valued at $606,503.10. The trade was a 3.04% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.

Hennessy Advisors Stock Performance

NASDAQ:HNNA traded down $0.15 during trading on Monday, reaching $10.03. The company’s stock had a trading volume of 9,005 shares, compared to its average volume of 9,782. Hennessy Advisors, Inc. has a 12 month low of $8.90 and a 12 month high of $11.02. The firm has a market cap of $79.24 million, a price-to-earnings ratio of 9.64 and a beta of 0.58. The firm has a 50 day moving average of $10.06 and a 200-day moving average of $9.99.

Hennessy Advisors (NASDAQ:HNNA) last issued its quarterly earnings results on Wednesday, August 5th. The asset manager reported $0.25 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.37 by ($0.12). The company had revenue of $8.39 million for the quarter, compared to analysts’ expectations of $9.96 million. Hennessy Advisors had a return on equity of 8.31% and a net margin of 24.77%.

Hennessy Advisors Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, September 3rd. Investors of record on Thursday, August 20th were paid a $0.15 dividend. This represents a $0.60 dividend on an annualized basis and a yield of 6.0%. The ex-dividend date was Thursday, August 20th. Hennessy Advisors’s payout ratio is currently 57.69%.

Hedge Funds Weigh In On Hennessy Advisors

A number of large investors have recently modified their holdings of HNNA. Concurrent Investment Advisors LLC increased its holdings in Hennessy Advisors by 103.0% during the 2nd quarter. Concurrent Investment Advisors LLC now owns 21,396 shares of the asset manager’s stock worth $217,000 after acquiring an additional 10,857 shares during the period. Susquehanna International Group LLP boosted its holdings in Hennessy Advisors by 5.8% in the 2nd quarter. Susquehanna International Group LLP now owns 21,611 shares of the asset manager’s stock valued at $219,000 after purchasing an additional 1,187 shares during the period. Aegis Financial Corp grew its position in shares of Hennessy Advisors by 20.8% during the 2nd quarter. Aegis Financial Corp now owns 170,768 shares of the asset manager’s stock valued at $1,733,000 after purchasing an additional 29,415 shares in the last quarter. Empowered Funds LLC purchased a new position in shares of Hennessy Advisors during the 2nd quarter valued at $168,000. Finally, Bank of America Corp DE bought a new position in shares of Hennessy Advisors in the second quarter worth $154,000. 10.31% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings reissued a “hold (c)” rating on shares of Hennessy Advisors in a research report on Tuesday, September 8th. One analyst has rated the stock with a Hold rating, According to MarketBeat.com, the company currently has an average rating of “Hold”.

About Hennessy Advisors

Hennessy Advisors, Inc is an investment management company that provides advisory services to mutual funds, exchange-traded funds and other investment vehicles. The company develops and manages portfolios for individual and institutional investors, with strategies spanning U.S. equities, financial companies, growth stocks, income-oriented investments and other specialized areas.

Through the Hennessy Funds family, the company offers a range of actively managed and index-oriented investment products.