Daniel B. Steadman Sells 3,407 Shares of Hennessy Advisors, Inc. (NASDAQ:HNNA) Stock

Hennessy Advisors, Inc. (NASDAQ:HNNA) VP Daniel B. Steadman sold 3,407 shares of the firm’s stock in a transaction on Thursday, December 26th. The shares were sold at an average price of $11.99, for a total transaction of $40,849.93. Following the transaction, the vice president now directly owns 38,282 shares of the company’s stock, valued at $459,001.18. The trade was a 8.17 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website.

Hennessy Advisors Stock Performance

NASDAQ HNNA opened at $11.62 on Friday. The company has a market capitalization of $90.45 million, a price-to-earnings ratio of 12.63 and a beta of 0.80. The stock has a fifty day simple moving average of $11.04 and a 200 day simple moving average of $9.63. The company has a quick ratio of 17.39, a current ratio of 17.39 and a debt-to-equity ratio of 0.44. Hennessy Advisors, Inc. has a twelve month low of $6.38 and a twelve month high of $13.88.

Hennessy Advisors Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, November 27th. Shareholders of record on Thursday, November 14th were issued a dividend of $0.138 per share. The ex-dividend date of this dividend was Thursday, November 14th. This represents a $0.55 annualized dividend and a yield of 4.75%. Hennessy Advisors’s payout ratio is 59.78%.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of the company. Geode Capital Management LLC raised its stake in Hennessy Advisors by 35.5% during the third quarter. Geode Capital Management LLC now owns 45,379 shares of the asset manager’s stock worth $452,000 after buying an additional 11,877 shares during the last quarter. Redhawk Wealth Advisors Inc. acquired a new stake in Hennessy Advisors during the 3rd quarter worth about $518,000. Finally, Renaissance Technologies LLC grew its holdings 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 acquiring an additional 1,813 shares during the period. Institutional investors and hedge funds own 10.31% of the company’s stock.

About Hennessy Advisors

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.