Kathryn Fahy Sells 8,000 Shares of Hennessy Advisors, Inc. (NASDAQ:HNNA) Stock

Hennessy Advisors, Inc. (NASDAQ:HNNA) CFO Kathryn Fahy sold 8,000 shares of Hennessy Advisors stock in a transaction that occurred on Thursday, February 27th. The stock was sold at an average price of $11.07, for a total transaction of $88,560.00. Following the sale, the chief financial officer now owns 74,211 shares of the company’s stock, valued at approximately $821,515.77. This represents a 9.73 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink.

Hennessy Advisors Stock Down 0.5 %

Shares of NASDAQ:HNNA opened at $11.13 on Friday. Hennessy Advisors, Inc. has a one year low of $6.60 and a one year high of $13.88. The company has a 50 day moving average of $12.16 and a 200-day moving average of $11.00. The company has a debt-to-equity ratio of 0.42, a current ratio of 18.29 and a quick ratio of 18.29. The stock has a market cap of $86.64 million, a price-to-earnings ratio of 9.94 and a beta of 0.77.

Hennessy Advisors (NASDAQ:HNNA) last issued its quarterly earnings results on Thursday, February 13th. The asset manager reported $0.36 EPS for the quarter. Hennessy Advisors had a net margin of 26.29% and a return on equity of 9.60%. The company had revenue of $9.71 million during the quarter.

Hennessy Advisors Cuts Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, March 6th. Investors of record on Monday, February 24th will be paid a dividend of $0.1375 per share. This represents a $0.55 annualized dividend and a yield of 4.94%. The ex-dividend date is Monday, February 24th. Hennessy Advisors’s payout ratio is 49.11%.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the company. Geode Capital Management LLC boosted its stake in Hennessy Advisors by 35.5% during the 3rd quarter. Geode Capital Management LLC now owns 45,379 shares of the asset manager’s stock worth $452,000 after acquiring an additional 11,877 shares during the last quarter. Allworth Financial LP bought a new position in Hennessy Advisors during the 4th quarter worth approximately $336,000. Navellier & Associates Inc. bought a new position in Hennessy Advisors during the 4th quarter worth approximately $605,000. Perigon Wealth Management LLC boosted its stake in Hennessy Advisors by 33.1% during the 4th quarter. Perigon Wealth Management LLC now owns 63,798 shares of the asset manager’s stock worth $778,000 after acquiring an additional 15,882 shares during the last quarter. Finally, Redhawk Wealth Advisors Inc. boosted its stake in Hennessy Advisors by 1.7% during the 4th quarter. Redhawk Wealth Advisors Inc. now owns 52,936 shares of the asset manager’s stock worth $671,000 after acquiring an additional 875 shares during the last quarter. Institutional investors 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.