Weber Alan W purchased a new stake in shares of Hennessy Advisors, Inc. (NASDAQ:HNNA) during the second quarter, Holdings Channel reports. The institutional investor purchased 19,582 shares of the asset manager’s stock, valued at approximately $297,000.

Separately, Greatmark Investment Partners Inc. purchased a new position in shares of Hennessy Advisors during the second quarter valued at approximately $239,000. 18.42% of the stock is currently owned by hedge funds and other institutional investors.

Hennessy Advisors, Inc. (NASDAQ HNNA) opened at 15.67 on Friday. The firm has a 50-day moving average of $15.83 and a 200 day moving average of $18.60. The company has a market capitalization of $120.50 million, a P/E ratio of 8.08 and a beta of 1.24. Hennessy Advisors, Inc. has a one year low of $13.88 and a one year high of $38.21.

Hennessy Advisors (NASDAQ:HNNA) last issued its earnings results on Wednesday, August 2nd. The asset manager reported $0.51 earnings per share for the quarter. Hennessy Advisors had a net margin of 28.36% and a return on equity of 34.81%. The firm had revenue of $13.18 million during the quarter.

The business also recently announced a quarterly dividend, which will be paid on Monday, September 11th. Investors of record on Thursday, August 17th will be given a dividend of $0.075 per share. The ex-dividend date of this dividend is Tuesday, August 15th. This represents a $0.30 dividend on an annualized basis and a dividend yield of 1.91%. Hennessy Advisors’s dividend payout ratio is 15.57%.

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About Hennessy Advisors

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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